Paper Stock Winners: Domtar, Orient Paper
NEW YORK (TheStreet) -- Paper stocks are among the biggest industry gainers so far during Friday's regular trading session. Domtar Corp. (UFS) and Orient Paper (ONP) are among the stock leaders in the group.
Domtar has popped by 5.2% to $82.45 on volume of 394,568, versus its average trading volume of 299,871. Domtar said it was celebrating the start-up of its newly installed 50 megawatt bio-fueled steam turbine generator at its Marlboro mill in South Carolina.
The new turbine, which cost Domtar about $40 million in 2010 to complete, is making the mill more energy efficient, the company said.
Buckeye Technologies (BKI) popped by 3% to $20.83 amid news that the stock had been upgraded to neutral from underperform by Credit Suisse. Orient Paper is up 2.9% to $5.62. Orient Paper says it's finished the installation of two new energy efficient boilers to replace two old steam boilers that, as previously announced, were removed in July of last year. The removals were required by of the Baoding City Environmental Protection Agency in connection with the government's approval of the Orient Paper's pending, new 360,000-tons-a-year medium paper production line. Fibria Celulose (FBR) has risen 3% to $16.51 even amid news that the stock was downgraded to equal-weight from overweight by Morgan Stanley, along with the broader equities, as they advanced with General Electric's (GE) consensus-topping quarterly earnings report. UPM-Kymmene ( UPMKY) has spiked by 3.1% to $19.40. The company has announced that its plantation company, Forestal Oriental, has acquired about 25,000 hectares of land in Uruguay from a private land owner in order to improve wood procurement options and support its self-sufficiency in wood supply.| More on Earnings Today's Top Earnings |
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