Potash Corp. to Cut Production 20 Percent; Will Pricing Be Preserved? (POT)
Potash Corp. came out late yesterday and joined the likes of Mosaic (MOS) and Uralkali in cutting production of its chief product, as they will reduce 2009 potash output by roughly 20%, beginning in January.
CEO Bill Doyle sees demand as only temporarily weak, noting a slowdown in the availability of credit and a general “wait [...]
Macy’s, Best Buy Signal That Consumer Spending Still Decelerating (BBY, M)
Macy’s reported a $44 million loss in the 3rd quarter today on a 6% decline in comparable sales. While the comps result was slightly better than competitors like J.C. Penney (JCP) and Kohl’s (KOL), Macy’s somehow still felt it could reiterate its previous guidance for $1.10 to $1.30 EPS in the 4th quarter. But here’s [...]
Freeport-McMoRan To Cut Molybdenum Production as Price Plummets
How fast things can change. Just 3 weeks ago copper, cold, and molybdenum producer Freeport-McMoRan (FCX) told us in their conference call that pricing for molybdenum (a component for steel and specialty chemicals) “continues to be strong”. A few blinks of the eye later, and molybdenum market prices have dropped 60% since mid-October, from nearly [...]
The Week in Review; Markets, Obama Set Humble Tone
As we approach the second week in November, the markets are largely as uninformed on the depth of this recession as last week. The only big unknown that’s been removed from the markets is who the next POTUS will be. But President-Elect Obama has inherited one of the weakest economies any of our 44 Presidents [...]
Weekend Reading - 5 Posts Worth The Time
Considering all the hours I spend each week scouring for brain-tickling news and commentary, I figure it’s worth sharing the nuggets that are worth a read as we all try to acclimate to the ever-changing financial climate. Here’s what’s been in my browser this weekend:
Hard Assets Investor has a great in-depth report on the shipping [...]
China Flush With Coal, Possible Pricing Weakness for Peabody (BTU)
News out of China today is that quotas for coal exports were higher than expected at 15.9 million tonnes, putting the export quota total for the year above 47 million tonnes. While Chinese officials say that it’s too late in the year to put the quotas into effect, the news does reflect that China isn’t [...]
The China Conundrum
There’s no question that every major economy in the world is reeling; we’re about 2 crucial months behind on the data that will really highlight the extent of the damage caused by the last 45 days’ worth of crisis. All of the 3rd quarter earnings & GDP figures give us just a peek to the [...]
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Investopedia Commentary- 3 Retail Rocket Stocks (M, ROST, SPY, FDO, XRT)
- Pharmaceutical Profits That Aren't For The Dogs (MRK, SNY, PFE, PETS, CENT, NVS, ABT))
- Terex Reshapes For The Future (TEX, BUCY, CAT, DE)
- Is Best Buy Still The Better Buy In Electronics? (BBY, RSH, SHLD, WMT, AMZN)
- Oil Service Costs To Move Higher (CLR, XCO, SD, BEXP)
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