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Canadian National (NYSE:CNI): Cap-Ex Ventures Ltd announced the signing of a Collaboration Framework Agreement with Canadian National Railway Co., or CN, to be a part of the feasibility study of CN’s proposed rail line to serve the Quebec and Labrador Iron Ore Trough. This proposed rail line should include a fully operational, continuous, multi-user railroad network, and a multi-user material handling facility in the Pointe-Noire region located in Sept-Iles, QC. The Agreement will also establish and secure the parameters and process of a Transportation Agreement and a Storage and Handling Services Agreement if and when the rail line project proceeds. The shares closed at $90.55, up $0.59 or 0.66% on the day. They have traded in a 52-week range of $61.82 to $90.41.
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Chevron Corp. (NYSE:CVX): Iraq has surpassed Iran as Opec’s second-largest oil producer for, which it has been unable to do since the late 1980s, as the first impacts of sanctions on Tehran are seen, the Financial Times reports. Last month, Iraq pumped slightly more than 3 million barrels per day, and Iran pumped 2.9 million barrels a day, according to the International Energy Agency. The shares closed at $113.55, up $0.92 or 0.82% on the day. They have traded in a 52-week range of $86.68 to $113.28.
Rentech Nitrogen Par (NYSE:RNF) predicts that the drought will continue to show a favorable impact on nitrogen prices and demand for the rest of 2012 and 2013. Rentech Nitrogen expects 2013 to see benefits from market dynamics similar to those of 2012. The drought’s impact on ending corn stocks will probably result in ongoing escalated prices and significant acres planted next year. Low corn inventories will likely drive corn pricing throughout the year and support strong demand for fertilizer. The company has begun to sell ammonia for spring 2013 delivery at a price exceeding the average price of $730 per ton which was achieved during the spring of this year. The shares closed at $32.16, down $0.28 or 0.86% on the day. They have traded in a 52-week range of $16.04 to $33.35.
Seagate Technology. (NASDAQ:STX): The shares closed at $34.18, up $1.09 or 3.29% on the day. They have traded in a 52-week range of $9.05 to $33.42.
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