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Some Thoughts on HD’s Q2 Results

With retail earnings dominating the morning’s news flow, we thought we would offer some (brief) commentary on Home Depot’s (HD) Q2 results. There is no quibbling about the comp – +10.7%, a full 400 bps above consensus with the U.S.

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“I am worried about new capacity in China” – “How do I improve my business”

Talk to any investor today about commodities, and improving demand in the US and perhaps a floor in European demand, and you will eventually hear the first half of the title of this short blog.  Today we hear that Rio

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The EPA Speaks on the 2013 and 2014 RFS

Consistent with the timing in years past, the Environmental Protection Agency (EPA) set out its final rule for the use of renewable fuels for 2013 and offered some initial commentary with respect to 2014.  Our focus is on the latter;

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Health Insurers’ Participation on the Health Insurance Exchanges; and, Current-Market Premium and MLR Patterns by State

Health insurance exchange (HIE) participation across the publicly-traded HMOs varies greatly – the only consistent pattern being that the publicly-traded names’ are selectively focused on states with less concentrated supply-sides (i.e. states lacking dominant underwriters) AET most of all, and

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Potash – Breaking Up Apparently Isn’t That Hard to Do

All discarded lovers should be given a second chance, but with someone else.” –          Mae West This morning, Belaruskali, the erstwhile cartel partner of Uralkali announced that it had reached a preliminary agreement with a Qatar-based fertilizer marketing company, Muntajat,

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Potash – Breaking Up Apparently Isn’t That Hard to Do

All discarded lovers should be given a second chance, but with someone else.” –          Mae West This morning, Belaruskali, the erstwhile cartel partner of Uralkali announced that it had reached a preliminary agreement with a Qatar-based fertilizer marketing company, Muntajat,

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August 1, 2013 – Mobile Devices: The PC-ification of the Smartphone

  Smartphone demand is decelerating at the high-end, as the slowing pace of innovation, carrier pushback on subsidies, and the weak economy dampen replacement, and as fears of market saturation begin to play out. At the same time, the emerging

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Additional Thoughts on the Disruption in the Fertilizer Market

The global fertilizer market remains in a state of shock in the wake of Uralkali’s announcement that it would abandon the output limits that have supported global potash prices. Uralkali announced that it was leaving the export cartel in which

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Additional Thoughts on the Disruption in the Fertilizer Market

The global fertilizer market remains in a state of shock in the wake of Uralkali’s announcement that it would abandon the output limits that have supported global potash prices. Uralkali announced that it was leaving the export cartel in which

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Fertilizer Turmoil

It has been an interesting 24 hours for fertilizer stocks, to say the least.  Yesterday, Dan Loeb said in an investment letter that his firm had taken a stake in CF Industries (CF), North America’s largest nitrogen fertilizer manufacturer.  The investment

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