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Agribusiness ETF Gets A Boost Thanks To Potash Corp’s Brighter Forecast
Sunday, March 14, 2010 - 10:46pm | 862“Fertilizer stocks were whipped into a frenzy in an otherwise ho-hum trading session Friday thanks to a brighter forecast from one big name and an apparent resolution to a four-way takeover battle. Potash Corp. of Saskatchewan (POT) raised its first-quarter guidance on increased demand,” Melanie...
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Friday March 12th ETF Movers: PAGG, HAO
Friday, March 12, 2010 - 5:52pm | 258In midday trading Friday, the Global Agriculture ETF (PAGG) is outperforming other ETFs, up about 2.2% on the day. Components of that ETF showing particular strength include shares of Intrepid Potash (IPI), up about 11.2% and shares of Agrium (AGU), up about 8.1% on the day. And underperforming...
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Potash (POT) Showing Strong Technical Strength Into Friday's Close
Friday, March 12, 2010 - 4:45pm | 135Potash Corp. of Saskatchewan (NYSE: POT) is showing continued strength into Friday's close. As widely reported after the bell on Thursday, the company hiked its first quarter earnings to a range of $1.30 and $1.50 a share, a sharp rise from its previous outlook of 70 cents to $1 a share. Potash...
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U.S. Probing Possible Agribusiness Antitrust Violations (MON) (DD)
Friday, March 12, 2010 - 4:21pm | 147The US is taking allegations of monopolistic behavior in the agriculture industry seriously. U.S. Attorney General Eric Holder and Agriculture Secretary Tom Vilsack addressed a group of farmers, labor and consumer groups and corporate representatives at an Iowa college auditorium. The previous day...
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Top-Performing Narrow Based Indexes For March 12, 2010 (KIRK, IPI, GRO)
Friday, March 12, 2010 - 3:17pm | 223The market has shown mixed reactions so far. While the Dow Jones Industrial Average has added 3.10 points to trade at 10,614.94, Nasdaq lost 1.52 to 2,366.94. Some narrow based indexes, however, are posting gains. These include the Home Furnishing Retailer Stocks, which have gained 3.7%,...
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Top Performing Industries For March 12 (IPI, AGU, CCO, WNC, BBW)
Friday, March 12, 2010 - 3:17pm | 330At 1:35 p.m., Dow gained 11.19, or 0.11%, to 10,623.03, while the broader Standard & Poor's 500 index rose 0.22, or 0.02%, to 1,150.46. The Nasdaq composite index moved down 0.80, or 0.03%, to 2,367.66. The industries that are driving the market today are: Nonmetallic Mineral Mining: The top...
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Market Roundup (POT, MOS, AGU, AAUKY.PK, XSRAF.PK, BHP, SVU, TM)
Friday, March 12, 2010 - 2:44pm | 240Potash makers have jumped today after Potash Corp (NYSE: POT) projected a sharp rise in demand for the soil nutrient this year. POT expects record North American sales and strong exports during the current quarter. The news has also driven up Agrium (NYSE: AGU) and Mosaic Company (NYSE: MOS)....
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Options Action Heats Up in the Agriculture Sector
Friday, March 12, 2010 - 2:06pm | 1722At the risk of sounding like a broken record, it’s been another low volatility morning in the markets. All the major indices have been fluttering around unchanged and looking a bit tired as volume remains relatively low. Although the initial direction appeared bullish following a strong retail...
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CF Buys Terra
Friday, March 12, 2010 - 2:04pm | 159CF Industries (NYSE: CF) finally seals the deal for Terra Industries (NYSE: TRA) after figthing with privately held Norwegian firm Yara for $4.7 billion. After the latest bid by CF Yara walked away without raising its bid. The deal should save the combined company around $135 million annually with...
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Agrium Inc. (AGU) Moves Out Of Head And Shoulder Pattern After Some Gap
Friday, March 12, 2010 - 1:43pm | 177Agricum Inc. (NYSE: AGU) said late on Thursday that had decided to terminate its hostile $5.4 billion bid to take over CF Industries Holding Inc. (NYSE: CF). Agrium (AGU) offered $3.6 billion for CF Industries Holdings Inc. (CF) in February 2009, but even after sweetening the deal several times CF...
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Potash Corp. of Saskatchewan (POT) In A Fresh Breakout Area After Posting A New 52 Week High
Friday, March 12, 2010 - 1:10pm | 130Investors cheered the move by the management of Potash Corp. of Saskatchewan (NYSE: POT) on Friday morning, after the company shocked the market by raising its Q1 earnings guidance for 2010. The move, an upward revision, came as a surprise for the traders, as Potash Corp. of Saskatchewan (POT) had...
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Potash Leaps Higher
Friday, March 12, 2010 - 11:10am | 145Fertilizer maker, Potash Corp of Saskatchewan (NYSE: POT) is moving higher this morning after the company raised guidance for the upcoming quarter. POT says that Q1 will come in around $1.30-1.50, which was well above their last revision in January to $0.93. Potash was also upgraded this morning...
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Yara International Exits The Takeover Battle For Terra Industries (TRA)
Friday, March 12, 2010 - 8:28am | 292Norwegian company Yara International (ADR) (OTC: YARIY) has exited the takeover battle for Terra Industries, Inc. (NYSE: TRA). Yara had announced last month that it would buy Terra Industries for $4.1 billion. The acquisition would have created the world’s biggest mineral fertilizer producer, and...
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Agrium, Inc. (AGU) To Terminate $5.4 Billion Offer To Buy CF Industries (CF)
Thursday, March 11, 2010 - 9:15pm | 118Agrium, Inc. (NYSE: AGU) announced on Thursday that it will terminate its offer to buy CF Industries Holdings, Inc. (NYSE: CF) later this month. With the announcement, Agrium will end the takeover battle, which lasted for more than a year. Agrium’s $5.4 billion offer for CF Industries will expire...
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Potash (POT) Raises Guidance
Thursday, March 11, 2010 - 8:59pm | 568Reader Abraham notified me that Potash (POT) raised guidance after the bell.... hold on, need to get this egg off my face to read the press release. Ah yes... now I can see. It would not of affected us much portfolio wise, as we sold a very small position (higher than today's close) in the...