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Canada Business News and Press Releases
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(EMAILWIRE.COM, October 24, 2009 ) Windsor, Ontario - FreeHotPennyStocks.com, an online financial publication, provides investors timely stock market alerts. If you are interested in penny stocks that are poised to breakout sign up for our free penny stock newsletter. Each day we send out alerts on different hot penny stocks. For more FREE ALERTS SIGN UP AT http://www.freehotpennystocks.com
Specialty minerals company Amcol International Corp (ACO.N) posted a third-quarter profit that handily beat analysts' estimates, helped by better margins across its businesses.
The company said net income attributable attributable to shareholders was $13.3 million, or 43 cents per share, compared with $1.9 million, or 6 cents per share, a year earlier.
Excluding a write-off of certain U.S. metal casting operations, Amcol earned 48 cents per share.
Net sales at the company, which also deals in oilfield services, transportation and commercial construction related products, fell 25 percent to $190.9 million.
Analysts on average were expecting the company to earn 29 cents a share, before items, on revenue of $186.1 million, according to Thomson Reuters I/B/E/S.
"All of our segments are prepared for growth but our key focus continues to be on the balance sheet and we expect continuing improvement in the fourth quarter," Chief Executive Larry Washow said in a statement.
Shares of the Hoffman Estates, Illinois-based company closed at $25.41 Thursday on the New York Stock Exchange.
In the last trading session, the stock closed at $25.41. The company hit $30.09 on well above average trading volume.
Transocean (RIG) was upgraded by TheStreet.com's stock-rating model to a "buy."
Second-quarter net income fell 24% to $806 million and earnings per share dropped 25% to $2.49, hurt by a higher share count. Revenue declined 7% to $2.9 billion. Transocean's gross margin remained steady at 56%, but its operating margin declined from 44% to 42%. A quick ratio of 1.3 demonstrates adequate liquidity. A debt-to-equity ratio of 0.6 indicates reasonable leverage. The company traded up to $92.90 on light trading volume.
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