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Dow Touches 2010 High On Strong Earnings (DJIA, FCX, MCD, CAT)
Thursday, October 21, 2010 - 11:12am | 162The Dow Jones Industrial Average (DJIA) is surging by triple digits today and is now at its highest levels of the year. The Dow is up 100 points, or 0.90%, to 11,207, exceeding its April highs. Stocks are getting a boost from strong corporate earnings. McDonald's (NYSE: MCD) said its third-quarter...
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Freeport Jumping In Pre-Market (FCX)
Thursday, October 21, 2010 - 8:21am | 68Shares of Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) are significantly higher in pre-market trading, up around 3% after the copper and gold miner reported blow out earnings, and raised its dividend by nearly 100%. At last check, shares were up $2.95 to $98.30. Freeport-McMoRan engages in...
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BHP Reports Higher Production - Analyst Blog
Wednesday, October 20, 2010 - 6:54pm | 379Mining giant BHP Billiton Ltd. (BHP) reported a 6% year-over-year increase in its iron ore production for the first quarter of fiscal 2011 ending Sep 30, 2010. BHP Billiton sustained a production loss based on the dissolution of the joint venture with Rio Tinto (RTP). The joint venture would...
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China Shen Zhou Mining & Resources Skyrocketing (SHZ)
Wednesday, October 20, 2010 - 12:24pm | 77Shares of China Shen Zhou Mining & Resources Inc. (NYSE: SHZ) are skyrocketing today, as the rare earth companies continue to show strong momentum, after China announced it was banning exports of rare earth minerals. At last check, shares of SHZ were up 80.5% to $3.97, a gain of $1.77. China...
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Benzinga's Political Round Up
Wednesday, October 20, 2010 - 12:05pm | 150Canada announced it won't back BHP Billiton's (NYSE: BHP) bid for Potash (NYSE: POT), after the Australian-based miner failed to meet demands. China is expanding its embargo on rare earth minerals, as the Chinese and the West are in a trade dispute. This should help shares of Molycorp, Inc. (NYSE...
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Top Performing Industries For October 20 (DAL, NVO, SHZ, CNTY)
Wednesday, October 20, 2010 - 11:16am | 197At 10:57 am, the Dow gained 1.06% to 11,094.57, the broader Standard & Poor's 500 index moved up 0.92% to 1,176.66 and the NASDAQ composite index rose 0.87% to 2,458.22. The industries that are driving the market today are: Major Airlines: This industry jumped 4.23% by 10:57 am. The top stock...
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Mid-Day Market Movers (SHZ, WSCI, DEAR, ETRM)
Wednesday, October 20, 2010 - 10:57am | 115China Shen Zhou Mining & Resources Inc (AMEX: SHZ) jumped 66.82% to $3.67 at 10:10 am. SHZ's quarterly revenue jumped 200.60% y/y. WSI Industries Inc (NASDAQ: WSCI) climbed 40.00% to $6.02. WSCI reported 47% y/y surge in Q4 sales. Dearborn Bancorp Inc (NASDAQ: DEAR) shares surged 25.71% to $2....
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BHP To Spend $900M On Oil, Gas Exploration
Wednesday, October 20, 2010 - 10:02am | 124BHP Billiton (NYSE: BHP), the world's largest mining company, said it plans to spend $900 million on oil and natural gas exploration through year ending in June 2011, a record sum most of which BHP expects to spend in the second-half of the year. BHP said it spent $74 million on oil and gas...
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Rio Tinto Plans $3.1B Aussie Iron Ore Expansion
Tuesday, October 19, 2010 - 11:57pm | 142Rio Tinto (NYSE: RTP), the world's third-largest mining company, is planning to spend $3.1 billion on expanding iron ore production facilities in Australia as demand for iron ore from emerging markets continues to climb. News of Rio's expansion plans comes just two days after a $116 billion iron...
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BHP's Potash Bid May Be In Trouble
Tuesday, October 19, 2010 - 11:30pm | 256BHP Billiton's (NYSE: BHP) $38.6 billion hostile takeover attempt of Potash Corp. of Saskatchewan (NYSE: POT), the world's largest fertilizer producer, may be facing a major as provincial authorities of Saskatchewan were reportedly set to scuttle the bid. Since the bid was announced over two months...
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BHP's Potash Bid May Be In Trouble
Tuesday, October 19, 2010 - 11:26pm | 256BHP Billiton's (NYSE: BHP) $38.6 billion hostile takeover attempt of Potash Corp. of Saskatchewan (NYSE: POT), the world's largest fertilizer producer, may be facing a major as provincial authorities of Saskatchewan were reportedly set to scuttle the bid. Since the bid was announced over two months...
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BHP's Potash Bid May Be In Trouble
Tuesday, October 19, 2010 - 11:23pm | 256BHP Billiton's (NYSE: BHP) $38.6 billion hostile takeover attempt of Potash Corp. of Saskatchewan (NYSE: POT), the world's largest fertilizer producer, may be facing a major as provincial authorities of Saskatchewan were reportedly set to scuttle the bid. Since the bid was announced over two months...
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BHP Billiton Iron Shipments Jump 6%
Tuesday, October 19, 2010 - 11:01pm | 114BHP Billiton (NYSE: BHP), the world's largest mining company, said its third-quarter iron ore shipments rose 6% to 31.98 million tons, fueled by increased demand from emerging markets. Earlier this week, BHP scrapped plans for a massive iron ore joint venture with rival Rio Tinto (NYSE: RTP) due to...
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Saskatchewan Will Not Back BHP Bid For Potash (BHP, POT)
Tuesday, October 19, 2010 - 5:36pm | 159According to an article in the Globe And Mail, the government of Saskatchewan will not support BHP Billiton's (NYSE: BHP) $38.6 billion bid for Saskatoon based Potash Corp. (NYSE: POT). The province's decision is expected to be made public later this week. BHP has recently balked at certain...
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Canada's Aspiring Potash Miners Not for Sale?
Tuesday, October 19, 2010 - 2:23pm | 142In spite of a flurry of headlines in recent weeks heralding a game-changing consolidation of the world's lucrative potash mining industry, Canada's two small aspiring potash miners are standing firm. Both Western Potash and Potash One say they are committed to building mines that will be in...