(BHP $75.85, rated Neutral, $80 Target raised from $50); WE VALUE BHP PETROLEUM AT $63.5 BILLION UP FROM $40 BILLION July 30, 2008
SMURFIT-STONE CONTAINER (SSCC $5.41, rated Neutral) INCREASED INPUT COSTS ERASE HOPE OF RETURN TO PROFITABILITY IN 2008; PRICE TARGET CUT TO $5 AS BORROWINGS GROW July 29, 2008
PLUM CREEK (PCL $44.59 as of 7/28/2008, rated Overweight) EARNINGS REPORT REFLECTS “CHALLENGING MARKETS”; MONTANA TIMBERLANDS SALES KEY TO EARNINGS OUTLOOK July 28, 2008
NEWMONT MINNG (NEM $49.11, Overweight) ESTIMATES CUT TO REFLECT HIGHER DEPRECIATION, EXPLO. & RESEARCH, “OTHER EXPENSE” AND POOR BATU HIJAU OUTPUT CARRIED FORWARD FUTURE YEARS; PRICE TARGET CUT TO $65 FROM $78 July 28, 2008
MERCATOR MINERALS (ML.TO C$8.83) CONSTRUCTION UPDATE PUTS OCTOBER TIMETABLE FOR CONCENTRATE SALES; 2008 ESTIMATE CUT July 28, 2008
ALCOA (AA $31.81 7-27-08, Neutral Weight) EARNINGS OUTLOOK MODERATES WITH OUTAGES, PRICES AND COSTS; 2008 DEMAND GROWTH CUT TO 3.3% July 27, 2008
SHARE PRICE DECLINES CREATE MANY FINE OPPORTUNITIES July 27, 2008
METALS – – PICKING MOST ATTRACTIVE STOCKS IN THE SELLOFF July 27, 2008
MEADWESTVACO (MWV $25.18, rated Neutral) LAND SALES OFFSET POOR QUARTER OTHERWISE July 24, 2008
STEEL INDUSTRY – – – SELECTED RAW MATERIALS SHORTAGES CONTINUE AND EXPECT MORE NEW LARGE “QUALITY DIFFERENTIALS” July 24, 2008