EmailThe materials sector is trading -0.8% versus the broader market is 0.5%.
In earnings: Seabridge Gold (SA) -0.2%.
In broker news: Global Hunter Securities upgrades GeoResources (GEOI +0.1%),
Kodiak Oil & Gas (KOG -1.4%) and Whiting Petroleum (WLL +0.02%) from Neutral to
Accumulate on Bakken expansion).
KOL -1.2% (BHP Billiton Mitsubishi Alliance have voted for the right to take
industrial action, but so far, no plans to strike are imminent - Dahlman Rose),
DD -1.5% (DuPont resumed with Overweight at JPMorgan), SNOFF -55.8%
(Sino-Forest: Hearing downgraded at BMO).
In sector news: NGPC +3.3% (NGP Capital Resources sells all of its interests in
Alden Resources and Gatliff Services to Globe Specialty Metals (GSM);
consideration for the sale includes $73.2 mln cash and a contingent payment of
up to $6.8 mln), CXDC +0.5% (China XD Plastics approves construction plan and
construction budget of the new facility and the construction project cooperation
agreement ), WLT +0.4% (Potential met coal supply disruption with BMA strike
vote affirmed - FBR Capital). ALB -0.5% (Albemarle will increase global prices
of the neat portion of its metal alkyl products by 15% effective July 1, 2011),
CLF -0.7% (Cliffs Natural Resources lowers its North American Coal business
outlook, co now expects to sell ~5.1 mln tons of coal, down from 6.5 mln tons of
coal in 2011).
than one year.
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