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Energy Shares Higher as Oil Settles over $74 a barrel
Wednesday, September 1, 2010 - 4:22pm | 100The price of oil closed to more than $74 a barrel today after from economic data from both the U.S. and China. Inventory data from Reuters showed a drop in gasoline and distillate stocks which helped support the oil gains. The energy sector was up over 3% on the day led by big movers such as U.S...
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Align Your Interests with the World's Best Hedged Company
Wednesday, September 1, 2010 - 2:53pm | 798A company for boom or bust They sell copper AND gold Strong profits during the worst market in five years If you were in Las Vegas, it would be cheating to bet one chip on two numbers of the roulette wheel. They'd kick you out of the casino after taking your...
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What Else Is New? Commodity Stocks Rallying On China & Australia (RTP, BHP, ACH, VALE)
Wednesday, September 1, 2010 - 2:35pm | 199Shares of commodity producers are higher today on news that the PMI data for China ,and Australian GDP were better than the market had been anticipating. The Chinese PMI came in at a reading of 51.7, inline with the 51.8 analysts had been anticipating. Shares of Aluminum Corp. of China Limited (...
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CIC to Expand Morgan Stanley Stake - Analyst Blog
Wednesday, September 1, 2010 - 11:36am | 608On Tuesday, the Federal Reserve Board approved Chinese Investment Corporation’s (“CIC”) bid to buy up to 10% voting stake in Morgan Stanley (MS) as part of an agreement signed in 2007. The Fed allowed the stake purchase after CIC stated that it will not seek controlling interest and will not...
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Is Rio Tinto Shopping DryShips? (DRYS, RTP)
Wednesday, September 1, 2010 - 10:20am | 215Shares of DryShips Inc. (NASDAQ: DRYS) are higher on the session by 5.215, currently trading at $4.24. The stock has been moving largely lower over the past six months, finding resistance at the 50-day moving average along the way. There has been some chatter on trading desks that Rio Tinto (NYSE...
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Horsehead Holding Corp. Provides Restart Update for its Monaca, PA Plant (ZINC)
Wednesday, September 1, 2010 - 9:53am | 92Horsehead Holding Corp. (Nasdaq: ZINC) today provided an update on efforts aimed at restarting operations at its Monaca, PA refining facility. The Monaca plant's zinc oxide and metal refinery remains temporarily shutdown. This shutdown commenced immediately following the July 22, 2010 incident at...
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Unconfirmed Chatter (RIO) will acquire DryShips, Inc. (DRYS) for $6.50
Wednesday, September 1, 2010 - 9:45am | 38Unconfirmed Chatter (RIO) will acquire DryShips, Inc. (DRYS) for $6.50 cash.. (DRYS)could not be reached for comment..
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Metals and Mining Review - Sept. 2010 - Industry Outlook
Tuesday, August 31, 2010 - 6:12pm | 2617Overview The Metals & Mining Industry encompasses the extraction (mining), as well as the primary and secondary processing of metals and minerals such as aluminum, gold, precious metals, coal and steel. The industry is oligarchic in structure, with a few producers accounting for the lion’s...
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Potash M&A mania: Allana Potash (AAA) is 'in play'
Tuesday, August 31, 2010 - 1:41pm | 120The recent headline-grabbing $39 billion bid by the world’s largest mining company for the planet’s top potash producer appears to be spurring potash-hungry Chinese investment funds into action. On the heels of BHP Billiton’s (NYSE: BHP) unsuccessful initial takeover offer for Potash Corp. of...
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Materials Stocks Rising On Strong Chicago PMI (X, FCX, CLF)
Tuesday, August 31, 2010 - 10:21am | 88Materials stocks are getting an early boost Tuesday after a regional report showed expansion in August. The Chicago Purchasing Manager's Index came in at 56.7 for August. While lower than the 57.0 consensus, any reading above 50 indicates expansion in the sector. U.S. Steel (NYSE: X) is up $1.48,...
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When Markets Decline On Light Volume Watch Out!
Tuesday, August 31, 2010 - 10:16am | 445In March 2009, the S&P 500, and the Dow Jones Industrial Average found a low and staged a sharp recovery rally into April 2010. Throughout that time that the market rallied higher the volume was extremely light. However, when the stock market indexes had corrections in June 2009, and January...
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BHP Denies Plan To Sell Potash Assets
Tuesday, August 31, 2010 - 9:26am | 191BHP Billiton (NYSE: BHP) denied comments Monday that it plans to sell off any of Potash Corp's (NYSE: IPI) assets if it succeeds with its $38.6 billion bid for the world's largest fertilizer producer. If it decided to do so, BHP may find a ready buyer in Agrium Inc. (NYSE: AGU), a Canadian...
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Bullish MACD for Brush Engineered - Tale of the Tape
Monday, August 30, 2010 - 1:39pm | 110Brush Engineered Material’s (BW) MACD indicator has entered into bullish territory with a reading of 0.008. The Zacks #1 Rank (“Strong Buy”) stock rose slightly to $24.25 in morning trade. The Zacks Consensus Estimate for the year ending December 2010 has increased 19 cents over the past month to $...
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BHP Could Sell Some Potash Assets
Monday, August 30, 2010 - 2:06am | 148BHP Billiton (NYSE: BHP), the world's largest mining company, said it could sell some Potash Corp. (NYSE: POT) assets if it is successful in its $38.6 billion acquisition for the world's largest potash producer. BHP singled out Potash's nitrogen and phosphates business as one asset that could be...
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Agrium Interested In Potash Assets
Sunday, August 29, 2010 - 11:09pm | 122Agrium (NYSE: AGU), the Canadian fertilizer producer, said it would be interested in the nitrogen and phosphate businesses of Potash Corp. of Saskatchewan (NYSE: POT) if those assets came onto the market. "We are a global company that produce 8 million metric tonnes of nitrogen, phosphate and...