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Mosaic stock reaches new high on upgrades
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Mosaic Co., the world's largest maker of phosphates, rose to its highest level on the New York Stock Exchange after two analysts said the Plymouth-based company will benefit from higher fertilizer demand and prices. Mosaic shares rose $2.83 to $50.25; they have more than doubled this year. Don Carson, an analyst at Merrill Lynch & Co., raised his 12-month price target on Mosaic to $68 a share from $60. Citigroup Inc. analyst Brian Yu increased his estimate of fiscal 2008 earnings to $2.78 a share from $2.27.
BLOOMBERG NEWS
Missing Gander Mountain data recovered
Gander Mountain Co. recovered computer equipment containing certain information relating to customer transactions from July 2002 through June 2007. On Sept. 10, the company reported the equipment missing from its Greensburg, Pa., store. Gander said an independent security firm verified that no customer data was accessed or compromised. After the equipment went missing, the St. Paul-based retailer said it notified major credit-card companies, sent letters to customers, established a help line and e-mail box and posted a customer alert on its website.
DOW JONES NEWS SERVICE
Duluth paper factory among 8 to be sold
Stora Enso Oyj, a Finnish maker of paper products, is selling its North American unit for about $2.1 billion to NewPage Holding Corp., a Dayton, Ohio, company owned by the private equity firm Cerberus Capital Management. The eight factories in the deal include one in Duluth and six in Wisconsin. They were once part of Consolidated Papers Inc., which was acquired by Stora Enso in a $4.8 billion deal in 2000. The NewPage deal is expected to be completed in the first quarter of 2008.
ASSOCIATED PRESS
Xcel to reduce depreciation on Monticello
Xcel Energy Inc. said Friday that one of its units will cut its third-quarter depreciation expense by about $31 million after a regulatory decision that allows it to lengthen the life of a nuclear plant. The Minnesota Public Utilities Commission approved lengthening the life of the Monticello nuclear plant operated by Xcel unit Northern States Power Co. by 20 years retroactive to Jan. 1, 2007, according to a filing with the Securities and Exchange Commission. Xcel is based in Minneapolis.
DOW JONES NEWS SERVICE
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Blog: Patent Pending
Meanwhile, in Wisconsin....
As you read this blog entry, angel investors and start-ups are flocking to Madison, Wisconsin for the annual Wisconsin Early Stage Symposium and the Mid West Health Care Venture forum.
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