VANCOUVER, BRITISH COLUMBIA, Oct. 30, 2009 (Marketwire) — Magma Energy Corp. (TSX:MXY) is pleased to announce that its US subsidiary, Magma Energy (US) Corp. (”Magma”), has been awarded $10 million in American Recovery and Reinvestment Act funding for two of its Nevada geothermal exploration properties, Soda Lake and McCoy. The grants will reimburse 50 – 80% of Magma’s planned innovative exploration expenditures on those properties over the next 24 months. At Soda Lake, Magma will apply new oil and gas technology to discover geothermal resources, and at McCoy, Magma will validate a combination of innovative exploration technologies in its search for a large geothermal reservoir on the property. The funding is part of $98.1 million allocated by the US Department of Energy under the Recovery Act for innovative geothermal exploration and drilling projects.

Dr. Frank Monastero, Magma’s President, said, “We are very pleased with this financial support through the

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America Movil (AMX) reported results for third-quarter 2009 with earnings per ADS of 86 cents edging past the Zacks Consensus Estimates of 85 cents while increasing 22.6% from the year-ago earnings per ADS of 70 cents. Net profit surged 50.6% year over year to 18.7 billion pesos (US$1.4 billion) or 0.57 pesos per share. This healthy growth was fuelled by higher revenue and lower financing costs which fell 82.5% year over year due to gains stemming from favorable exchange rate swings.  Revenue & EBITDA Latin America’s largest wireless carrier continues to register a double-digit revenue growth as evident from the 16.9% year over year increase in consolidated revenue in the quarter to 99.8 billion pesos (US$7.5 billion), driven by 19.5% growth in service revenue. Revenue growth was supported by healthy business momentum across 3G wireless and broadband Internet businesses.  Consolidated EBITDA for the quarter was 40.4 ...

Chile-based LAN Airlines S.A. (LFL) yesterday reported discouraging results for the third quarter 2009. Net income of US$52.1 million was 37.3% lower than  net income of US$83.0 million in the third quarter of 2008. Excluding non-operating extraordinary items recognized in the third quarter 2008, net income decreased 58.3%. Consolidated revenues declined 19.1%, driven mainly by lower yields in both the cargo and passenger businesses. This was partially offset by a 14.3% decline in operating expenses, driven mainly by lower fuel costs. Operating income reached US$92.4 million a 46.1% decrease compared to US$171.3 million in the same quarter of previous year. Operating margin reached 10.1%, compared to 15.1% in the same period of 2008. Third quarter 2009 results continued to be impacted by fuel hedging losses, although to a much lesser extent than in previous quarters. The fuel hedging loss during the quarter amounted to US$14.4 million ...

Skechers USA Inc. (SKX), the designer, marketer and distributor of footwear, recently reported its third quarter results that topped the Zacks Consensus Estimate.   Skechers’ quarterly earnings of 52 cents a share surpassed the Zacks Consensus Estimate of 34 cents, but fell 13.3% year over year from 60 cents delivered in the prior-year quarter. The company returned to profitability after posting a loss of 13 cents in the second quarter of this year.   Net sales for the quarter climbed 0.5% to $405.4 million driven by a high single-digit growth in international business and a double-digit improvement in retail operations as well as robust growth in online business.    The sustained focus on new line of products, opening of additional Skechers retail stores and distribution channels, and the development of new international distribution agreements in India and Mexico, should facilitate the increase in sales and profitability.  ...

AES Corporation (AES) is heading into its next report on rising estimates and good valuations.

Company Description

AES provides energy to 29 countries with energy through generation and distribution. The company has diversified portfolio of thermal and renewable fuel sources.

EPS Rises

On Aug 7 the company announced quarterly earnings per share of 28 cents, 3 cents higher than last year and 8 cents higher than the Zacks Consensus Estimate.

All types of cash flow increased dramatically, including a $181 million jump in Consolidated Cash Flow, to $495 million.

Raising Guidance

During the same release the company raised full-year EPS guidance to between $1.05 and $1.10. The bottom and top end of the range rose 8 cents and 3 cents, respectively.

Solid Growth

Analyst estimates are coming in near the middle of the AES's forecasts, which would yield earnings growth of 9% this year. The Zacks Consensus Estimate is now $1.23,

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Earlier this month, LAN Airlines S.A. (LFL) and its subsidiaries released its preliminary monthly traffic statistics and punctuality indicators for September. Passenger traffic rose 11.9% year over year while capacity jumped 9.3%. Its load factor increased 1.8 points to 78.8%.   International passenger traffic accounted for almost 71% of total passenger traffic, with the rest coming from domestic passengers.   Domestic passenger traffic in Chile, Argentina, Peru and Ecuador rose 17.5% and international passenger traffic rose 9.8%. Domestic capacity increased 15% and international capacity increased 7.1%. International capacity was mainly driven by a surge in operations in Europe and the South Pacific, which was partially offset by a decrease in certain regional routes.   Cargo traffic fell 8% mainly due to the slowdown in import and export markets in Latin America, as well as the reduction of salmon exports from Chile. In line with the decrease in demand, ...

AMB Property Corp. (AMB), a leading real estate investment trust (REIT), has recently signed leasing agreements for approximately 271,000 square feet in Mexico, signifying the probable redemption of investor confidence across the country. About 118,000 square feet were leased in Monterrey in northeast Mexico by Arauco Distribucion Mexico, the Mexican subsidiary of Arauco – a wood pulp and forestry enterprise in Chile. As part of its expansion strategy in the Latin American markets, Arauco also leased 120,000 square feet of space in Guadalajara in the western Pacific area of Mexico. Besides the Arauco leases, AMB had leased 33,000 square feet in Monterrey to a premier logistics company in the country. With the lease, AMB has strengthened its competitive position in the market. In addition, the company has strategically partnered with a single partner in multiple locations in order to increase its flexibility and enhance operational efficiency....

Barrick Gold Corporation (ABX), the largest gold mining company in the world, has entered into an agreement with Xstrata Copper Chile S.A., a wholly owned subsidiary of Xstrata Plc, to acquire Xstrata’s 70% interest in the El Morro project for $465 million in cash. Another Canadian miner, New Gold Inc. (NGD) owns the remaining 30% interest in El Morro. The El Morro gold project is located in the Atacama Region in Chile. The project has total measured and indicated resources of about 8.3 million ounces of gold and about 6.3 billion pounds of copper. The acquisition will add another large, high quality gold-copper resource to Barrick’s portfolio. In Chile, Barrick already controls a project, which is entering construction, called Pascua-Lama. It also has a 50% stake in another mine, the Cerro Casale project. El Morro is located near the Pascua-Lama and Cerro Casale projects. Xstrata ...

On Friday, Wyeth Pharmaceuticals, a division of Wyeth (WYE), announced that the company's 13-valent pneumococcal conjugate vaccine for infants and toddlers received a positive opinion from the European Medicines Agency's (EMEA) Committee for Medicinal Products for Human Use (CHMP).  The CHMP recommended the approval in children between 6 weeks to 5 years to protect them against 13 serotypes (forms), of a bacterium called streptococcus pneumoniae (pneumococcus) that can cause a series of diseases, ranging from ear infections to pneumonia and meningitis. The EMEA is expected to pass a final verdict on the matter in the coming months.  Prevenar 13 is a new form of Wyeth’s blockbuster pneumococcal 7-valent conjugate vaccine Prevnar which reported revenues of $2.7 billion in 2008. The 13-valent vaccine includes six new serotypes in addition to the seven included in Prevnar. It is estimated that Prevenar 13 would cover 92% of invasive pneumococcal ...

Barrick Gold Corp. (ABX) recently divested a 25% interest in its Pascua-Lama silver project in South America to Silver Wheaton Corp. (SLW) for about $625 million. The deal was announced on Sept. 8.

Based in Vancouver, Canada, Silver Wheaton is the world's only silver trading company. It does not own or operate mines but buys silver at below-market prices through long-term contracts with five major silver producers, including Goldcorp Inc. (GG), Lunding Mining, Hellas Gold and Glencore, and then reselling it to major industrial customers at a mark-up.

The deal gives Barrick funds for the construction of the Pascua-Lama mining project and significantly boosts the size of Silver Wheaton. Silver Wheaton has already made an initial payment of $212.5 million and will pay another $137.5 million annually for the next three years.

Barrick will receive $3.90 for each ounce of silver delivered under the agreement, which

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