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Apache to Develop Macedon Field in Australia (APA, BHP)
Friday, September 24, 2010 - 8:47am | 96Apache Corporation (NYSE: APA) (Nasdaq: APA) said today that it will proceed with development of the Macedon gas field in the Exmouth Basin in Western Australia. The project will commercialize natural gas from offshore production license WA-42-L. First production is expected during 2013. Apache has...
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Rio Tinto on Investment Spree - Analyst Blog
Thursday, September 23, 2010 - 10:54am | 475During the middle of September, Rio Tinto (RTP), one of the leading mining companies, disclosed its intension to infuse $803 million to complete the underground block cave project at the Argyle Diamond Mine located in Australia , to be operational by 2013. The investment is expected to extend...
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Rio Tinto Alcan Announces $347M Project to Increase Production
Thursday, September 23, 2010 - 10:05am | 87Rio Tinto Alcan (NYSE: RTP) will move forward with its planned $347 million modernisation project to increase the annual production capacity of its aluminium smelter in Straumsvik, Iceland (ISAL), after finalising the landmark energy supply agreement reached earlier this year with Landsvirkjun, the...
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Options Update: Freeport McMoRan Volatility Flat As Shares Rally
Thursday, September 23, 2010 - 7:17am | 71Freeport McMoRan (NYSE: FCX) closed up $1.52 to $84.51. Copper prices closed up 2.54% according to Bloomberg. Overall option implied volatility of 40 is near its 26-week average of 43 according to Track Data, suggesting non-directional price movement. Sears Holding Corporation (Nasdaq: SHLD)...
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Top Performing Industries For September 22 (NFLX, AA, SEED, AAU)
Wednesday, September 22, 2010 - 12:38pm | 218At 11:53 am, the Dow lost 0.31% to 10,727.24, the broader Standard & Poor's 500 index moved down 0.52% to 1,133.85 and the NASDAQ composite index fell 0.75% to 2,3331.61. The industries that are still afloat in the market today are: Music & Video Stores: This industry jumped 3.52% by 11:53...
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30% upside with this 'other' golden metal
Wednesday, September 22, 2010 - 9:39am | 891A gold metal for boom times Warehouse stocks are falling... The investment with 30 percent upside this year Today I want to talk about a metal that gets little love or attention in the mainstream media - until it dramatically increases in price. I know you'...
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Sinochem Hires Citi, Deutsche Bank To Evaluate Potash Bid
Wednesday, September 22, 2010 - 1:49am | 190China's Sinochem, that country's largest chemicals trader, has reportedly hired Citigroup (NYSE: C) and Deutsche Bank (NYSE: DB) to help it explore a bid for Potash Corp. of Saskatchewan (NYSE: POT). Speculation has intensified in recent days that Sinochem would make a competing bid to BHP Billiton...
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Bearish MACD for CMP - Tale of the Tape
Tuesday, September 21, 2010 - 3:34pm | 117Compass Minerals International, Inc.'s (CMP) MACD indicator has moved into bearish territory with a reading of -0.0569. The Zacks #5 Rank (“Strong Sell”) stock fell slightly to $72.819 in morning trade. The Zacks Consensus Estimate on the company's earnings for the year ending December 2010 has...
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BHP Billiton Extends Buy-Out Offer - Analyst Blog
Tuesday, September 21, 2010 - 1:06pm | 455Australian mining giant, BHP Billiton Ltd. (BHP) extended the buy-out offer made in mid August for Canada's Potash Corp. of Saskatchewan Inc. (POT), the world's biggest fertilizer manufacturer, for $130 per share, until November 18, 2010. The all-cash offer was extended because BHP needs to...
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McMoRan To Double Interest In PXP's Gulf Of Mexico Properties
Tuesday, September 21, 2010 - 9:23am | 177McMoRan Exploration Co. (NYSE: MMR) is acquiring Plains Exploration & Production's Gulf of Mexico Shelf properties, effectively doubling McMoran's interest in the Gulf, according to Dahlman Rose. Dahlman writes "As a result of the transaction, MMR will effectively double its CAPEX commitments,...
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Zacks #5 Rank Additions for Tuesday - Tale of the Tape
Tuesday, September 21, 2010 - 8:39am | 345Here are 5 stocks added to the Zacks #5 Rank ("strong sell") List today: Acorn Intl Inc (ATV) Compass Minerals Intl Inc (CMP) Covance Inc (CVD) Dress Barn Inc (DBRN) Encore Energy Partners LP (ENP) View the entire Zacks #5 Rank List. ACORN INTL-ADR (ATV): Free Stock Analysis Report COMPASS...
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BHP's Potash Takeover Attempt Could Take A While
Tuesday, September 21, 2010 - 2:42am | 138BHP Billiton's (NYSE: BHP) $38.6 billion hostile takeover bid for Potasch Corp. of Saskatchewan (NYSE: POT), the world's largest fertilizer producer, could drag into 2011 if Canadian regulators do not approve the deal. BHP Billiton extended its offer by a month to November 18 after Canada's...
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Company News for September 20, 2010 - Corporate Summary
Monday, September 20, 2010 - 7:48pm | 865• Safran agreed to acquire L-1 Identity (NYSE: ID) for $1.6 billion cash, or $12 per share • General Growth Properties (NYSE: GGP) paid $230 million to Howard Hughes heirs to settle a dispute • Goldman Sachs (NYSE: GS) upgraded Freeport-McMoRan (NYSE: FCX) to "buy" from "neutral," taking the price...
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Cree to Produce LED Wafers with New Manufacturing Capability
Monday, September 20, 2010 - 4:42pm | 122Cree, Inc. (Nasdaq: CREE) announces a new 150mm LED wafer production facility in Research Triangle Park (RTP) that is targeted to create hundreds of green jobs in North Carolina. The new LED wafer production line will be located in Cree's existing RTP production facility, and will allow Cree to...
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Teck Lowers Coal Guidance (TCK)
Monday, September 20, 2010 - 1:46pm | 80Teck Resources Limited (NYSE: TCK) today provided an update on its coal pricing and sales guidance. Third quarter coal sales are now expected to be in the range of 5.2 to 5.5 million tonnes, in comparison to Teck's previous guidance for the quarter of 5.8 to 6.2 million tonnes. Sales for the...