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Fortescue Fpo (FMG)
6.05 ?0.12 (2.02%)
Volume: 23,217,612
The symbol did not changed. My level 2 (TDAmeritrade)was no working yesterday but OK today
Fortescue 1st Half Profit Surges On Strong Iron Ore Sales
Fortescue Metals (ASX:FMG)
Historical Stock Chart
2 Months : January 2012 to March 2012
Fortescue Metals Group Ltd. (FMG.AU), one of the world's largest iron ore producers, Wednesday reported a more than doubling of its first-half profit as it continued to ramp up shipments of the steelmaking commodity.
Net profit jumped to US$800.8 million in the six months through December from A$314.1 million a year earlier, while revenue increased 82% to US$3.36 billion from US$2.53 billion.
The Perth-based company said it had declared a half-year dividend of 4 Australian cents a share, compared with a maiden interim dividend of 3 cents a year earlier.
"This record interim profit result sets the foundations for what will be a watershed year for Fortescue," said Neville Power, who took over as chief executive from founder and now Chairman Andrew Forrest in August.
The company said it remained on track to ship 55 million metric tons of iron ore this financial year, despite a cyclone in early January that forced the temporary closure of Port Hedland on Australia's west coast. It said it now expects to ship between 13 million and 13.5 million tons this quarter, rather than the previously forecast 13.75 million.
The cyclone also has delayed work on a fourth berth at Port Hedland which, with the need for additional housing in the area, will mean a cost of about US$200 million, the company said.
Fortescue was formed in 2003 and has quickly grown into the third-largest supplier of iron ore from Australia's remote Pilbara region, which accounts for roughly 40% of the world's trade in the steelmaking ingredient by sea. The company took on large amounts of debt to develop mining operations and build a railway to rival those belonging to Rio Tinto PLC (RIO) and BHP Billiton Ltd. (BHP).
It has plans to invest an estimated US$8.4 billion to boost output to 155 million metric tons a year by mid-2013. Fortescue said that target remains on track.
-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; robb.stewart@dowjones.com
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Australia, N.Z. Stocks: BHP, Fortescue, Myer, Newcrest, Rio
By Elisabeth Behrmann on March 15, 2012
Australia’s S&P/ASX 200 Index (AS51) fell 0.2 percent to 4,277.80 at the close of Sydney trading. New Zealand (ANZ)’s NZX 50 Index gained 1 percent to 3,533.73 in Wellington.
The following are among the most active shares today. Stock symbols are in parentheses after company names.
Newcrest Mining Ltd. (NCM) , Australia’s biggest gold producer, fell 3.3 percent to A$30.27 after gold prices dropped to the lowest level since Jan. 13. Smaller rival Oceanagold Ltd. (OGC) lost 4.5 percent to A$2.32.
Myer Holdings Ltd. (MYR) dropped 3.4 percent to A$2.29 after Australia’s largest department-store operator said first- half earnings fell 18 percent as sales declined.
Fortescue Metals Group Ltd. (FMG) rose 2.6 percent to A$5.98 after Australia’s third-biggest iron-ore producer doubled the size of a junk bond sale to $2 billion to help fund its expansion as well as the purchase of mining vehicles and equipment.
BHP Billiton Ltd. (BHP) dropped 1.2 percent to A$35.18. The London Metal Exchange LMEX Index fell 1.1 percent yesterday, with copper prices falling the most in a week on concern demand will ease after China, the biggest consumer, affirmed plans to prevent a housing bubble. Smaller rival Rio Tinto Group (RIO AU) fell 0.6 percent to A$64.93.
To contact the reporter on this story: Elisabeth Behrmann in Sydney at ebehrmann1@bloomberg.net
To contact the editor responsible for this story: Rebecca Keenan at rkeenan5@bloomberg.n
This board is so layed back. No disrespect meant. Is this a MOMO board? I will take a 89% profit anytime and I am not a day trader per se, and am a long. Any one here interested in Aussie stocks?
Regards;
Mike.
INTK up on buy vol today as opposes to sell vol yesterday which was up after settled trades.
Volume of a stock exceeds 10 day average by 50.00%
Industrial Nanotech Inc INTK:OTC Pink - Current Information
Last Price: $0.073 at 1:08pm ET. Price when alert was set: $0.035
Open: $0.062 Previous Close: $0.0599 Volume: 5,557,344
Today's Change 0.0131 (21.87%)
Bid (at 1:08pm ET) $0.073
Ask (at 1:08pm ET) $0.0739
B/A Size 0 x 0
EPS (TTM) --
Shares Outstanding 487.8M
Market Cap 35.6M
Beta 0
Day Range $0.062 - $0.075
52 Week Range $0.015 - $0.084
P/E Ratio 0.0x
P/Sales Ratio (TTM) --
Declared Dividend No Regular Dividends
Dividend Yield --
Ex-Dividend Date --
Dividend Payable Date --
Market Summary
NASDAQ: 3,044.00
4.12 (0.14%)
S&P 500: 1,396.21
0.26 (0.02%)
DJIA: 13,203.03
25.35 (0.19%)
Last Update: 1:08pm ET Last Update: 1:08pm ET
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UPDATE: Fortescue Metals Launches $1 Billion High-Yield Bond
7:09p ET March 13, 2012 (Dow Jones) UPDATE: Fortescue Metals Launches $1 Billion High-Yield Bond
--Fortescue launches US$1 billion high-yield bond offering
--The offering will help fund the expansion of its iron-ore operations
--Other major mining companies have tapped bond markets in recent months
(Adds detail in the first to third paragraphs, background from fifth paragraph)
By Robb M. Stewart
Of DOW JONES NEWSWIRES
MELBOURNE (Dow Jones)--Fortescue Metals Group Ltd. (FMG.AU) said Wednesday it plans to raise US$1 billion with a high-yield bond offering to help fund the expansion of its iron-ore operations in Western Australia.
The Perth-based company in a statement said it and its subsidiaries have launched a bond offering of senior unsecured notes. A spokesman declined to give further details.
The money will be used to help fund Fortescue's plans to expand its production capacity in the remote Pilbara region to 155 million metric tons a year of the steelmaking commodity by mid-2013 from about 55 million tons currently, including the purchase of trucks, excavators, light vehicles and other equipment.
Fortescue was formed in 2003 and began construction of its first mining, port and rail operations in 2006, but has quickly grown to become Australia's third-largest producer of iron ore after Rio Tinto PLC (RIO) and BHP Billiton Ltd. (BHP).
BHP last month raised US$5.25 billion in a five-part bond offering, having raised US$3 billion three months earlier. Rio in September priced US$2 billion in five-, 10- and 30-year bonds.
Fortescue last sold bonds in October when it issued US$1.5 billion of 8.25% eight-year senior unsecured notes.
-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; robb.stewart@dowjones.com
(END) Dow Jones Newswires
03-13-12 1909ET
Copyright (c) 2012 Dow Jones & Company, Inc.BT201203130110072012-03-13 23:09:00.0001S2RU89T921BEV0AFAM01U6DDCDJNF
China's economy will likely expand 8.3% in 2012 to stand out among the world's largest economies, credit-ratings firm Standard & Poor's forecast in a report. The economy will beat Beijing's own lowered forecast of 7.5%, fueled by "local governments' penchant for growth and policymakers' increasing support to small and midsize enterprises," S&P said. Even so, potentially adverse developments in the European Economic and Monetary Union and the Middle East could threaten the mainland's expansion, S&P cautioned.
Copyright © 2012 MarketWatch, Inc.
Read more: http://www.foxbusiness.com/markets/2012/03/14/china-gdp-forecast-to-grow-83-in-2012-sp/#ixzz1p61Fe6td
Very Good For Iron ORE exports for FMG
Maybe some MOMO' also.
Anyway a very good day if a person is long on this stock.
Moderate Selling into the close.
Expected
Industrial Nanotech, Inc. Issues Update
Last update: 3/12/2012 8:28:00 AM
NAPLES, Fla., Mar 12, 2012 (BUSINESS WIRE) -- Industrial Nanotech, Inc. (INTK), an emerging global leader in nanotechnology based energy saving and sustainable solutions is pleased to update its shareholders and supporters of recent activity and progress. The Company has been working diligently to cultivate several valuable sales channels, identify new markets and sources of revenue, and has produced tangible results including initial implementation and resulting installations for corporate and government projects.
1. Upgrading the energy efficiency of windows, especially in large older factories is becoming a very significant source or revenue for the Company. Older factories were built with "walls of windows", which were effective at letting light in, but very energy inefficient. Applying the Company's translucent Nansulate(R) Energy Protect is a cost effective solution that still lets the light in, but reduces heat transfer through the glass. As an example, a factory in Ohio utilized Nansulate(R) on their windows and the result was a real dollar energy saving amount equal to eight times the amount of their original investment in Nansulate(R) was achieved in the first four months subsequent to the application.
According to the U.S. Department of Energy, commercial and residential buildings account for nearly 40 percent of energy used in the U.S. With energy costs soaring, the green building materials industry has grown to $156 billion a year. With their coatings already being used on other areas of the building envelope - walls, roofs, ceilings, skylights - to reduce energy costs, the Company is aggressively pursuing factory windows in older buildings, as well as other building applications.
"Windows are one of the largest energy wasters in any building as they allow a great deal of heat transfer," stated Francesca Crolley, VP Business Development for Industrial Nanotech, Inc. "There are thousands of factories and commercial buildings built with single pane windows, and building owners are finding that replacing these windows is cost prohibitive. Our technology offers an affordable and effective way for the existing windows to be insulated easily with a spray on application that can also be sprayed over frames to further reduce thermal bridging. Our Energy Protect coating allows through over 90% of the visible light, while reducing heat transfer and resulting energy costs, and also reducing UV light, which is desirable by museums trying to protect artwork from fading."
2. The Company has expanded into the historical preservation and restoration market. Upcoming projects include a U.S. military museum and a New York State historic restoration project to install the Company's clear lead encapsulation product, Nansulate(R) LDX. Additionally, the company has submitted an abstract to speak at the Annual Association for Preservation Technology International (APT) Conference held in September, to illustrate the benefits that nanocoatings can provide for preservation and restoration of historic sites.
3. Industrial Nanotech moved into the OEM market, including integration of the Company's Patented Nansulate(R) coatings into building products. Application of Nansulate(R) by several large major customers to their products at the factory is expected to begin in the very near future and will substantially impact revenues.
4. A multi-year project with a Southeast Asian government is beginning by midyear, resulting in a high dollar volume marque project for resistance of mold growth and surface protection on a high profile building which is well known throughout the region and globally. This will add to the Company's profile of providing multi-solution nanotechnology products which not only save energy, but perform a variety of other tasks, such as mold resistance, corrosion prevention, moisture resistance, UV resistance, chemical resistance and lead encapsulation.
5. One of the Company's European distributors has been working with a major provider of rail transportation, who after completing initial testing, has approved a field study over several tunnels for Nansulate(R) coatings to trial the ability of the coating to prevent icicle formation in tunnels and overpasses in order to reduce train derailment due to ice dropping on rail tracks. This study is ongoing and expected to be completed in 2012.
6. The company has been presenting their nanotechnology based solutions to a number of fortune 500 companies and companies on the Dow Jones Sustainability Indexes over the past two years. Many of these companies have completed or are close to completing initial due diligence projects at U.S. based factories with the technology, and the Company anticipates several multi-plant projects beginning in 2012 and continuing into 2013 and beyond.
"We have been working diligently to replicate the model that we used with global textile manufacturer, Coats plc," stated Ms. Crolley. "Initial due diligence projects for energy saving calculations were completed as a first step at two of their facilities, which then resulted in a global sustainability project with our Nansulate(R) coatings being used to insulate equipment in their factories throughout 28 countries. We have the ability to drastically reduce energy intensity in manufacturing with an extremely short payback period, and we have been taking that message to plants and factories throughout North America for the past several years. With the economy beginning to recover, we are seeing the fruits of those efforts begin to be realized."
For further information on Nansulate(R) nanotechnology based coatings and sustainable solutions visit: .
About Nansulate(R)
Nansulate(R) is the Company's patented product line of award winning, specialty coatings containing a nanotechnology based material and which are well-documented to provide the combined performance qualities of thermal insulation, corrosion prevention, resistance to mold growth, fire resistance, chemical resistance and lead encapsulation in an environmentally safe, water-based, coating formulation. The Nansulate(R) Product Line includes industrial, residential, agricultural and solar thermal insulation coatings. Additional information about the Company and its products can be found at their websites, () and (). Blog: , Twitter: , Facebook: .
About Industrial Nanotech Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and research leader and member of the U.S. Green Building Council. The Company develops and commercializes new and innovative applications for sustainable nanotechnology which are sold worldwide.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: Industrial Nanotech, Inc.
Industrial Nanotech, Inc. Francesca Crolley, US & Canada: 800-767-3998 VP Business Development investini@inanotk.com International: +1 239-254-0346
Copyright Business Wire 2012
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I launched my TD-Ameritrade Streamers a few minutes ago. No news. I am east coast and get up usually at 5am. Hope We have positive news. I am thinking buy out or JV with some $$$$. Just my opinion. Good INTK Investors.
Regards;
Mike
What I do not understand is 'Fortescue Metal Group, Ltd trade in the USA under tickers FSUMF and FSUMY?
Research the over-the-top past news stories and you'll run for the hills. This company has no credibility.
Please Give Insight?
Regards;
Mike
I was "surfing" The Internet looking for any news on INTK as to why the 55% jump on Friday in the the PPS and found this board. It was not me who bought (or Sold) on Friday as I have owned this stock in three of my accounts for quite a few years. In my opinion they must be leaked news that has caused this break out.
Any way I "signed" up for here for free as there are more posts here than my other subscribed board.
Happy I am to have found this board.
Regards;
Mike