PACKAGING CORP. OF AMERICA’S OPERATING COSTS SEE HIGHER INPUT PRICES; 40% OF OCT 1ST $50/TON CONTAINERBOARD PRICE HIKE MODELED 10/20/2016
XSTRATA (XSRAF $16.90, rated Overweight with a $28 price target) GREATER “SELECTIVITY” WILL CREATE HIGHER FUTURE RETURNS, FEWER ASSETS EMPLOYED AND BENEFIT “MACRO OUTLOOK” FOR METALS PRICES 12/9/2009
WEYERHAEUSER (WY $44.57, Neutral) WY’S ANNOUNCES INTENT TO CONVERT TO A REIT A POSITIVE MORE THAN NEGATIVE 12/16/2009
VALE (VALE $29.00, Overweight at $ 44 price target up from $35) PRICE TARGET RAISED DUE TO HIGHER COMMODITY PRICES AND VALUATION METRICS; NOTES FROM SEPT. 30TH HQ AND OCT. 1ST IRON ORE MINE VISITS 12/16/2009
STEEL INDUSTRY 2010 U.S. MARKET FORECAST 12/9/2009
GLENCORE FINANCING VIEWED AS A “TOP-OF-THE-CYCLE” INDICATOR 12/26/2009
WBMS REPORTS VERY POOR OCTOBER DEMAND DATA FOR BASE METALS; CHINESE NOVEMBER STEEL AND ALUMINUM OUTPUTS < EXPECTED 12/21/2009
ALUMINUM OUTPERFORMS OTHER METALS 12/14/2009
GOLD PRICES MORE VOLATILE AFTER BARRICK DISCLOSES FULL HEDGE BOOK CLOSEOUT; BASE METALS BOOM DESPITE DUBAI WORLD SCARE 12/7/2009
PLUM CREEK (PCL $38.28, rating cut to Neutral from Overweight) PRICE APPRECIATION AND POTENTIAL DIVIDEND WEIGH TO RATING CUT 12/30/2009