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Sector Snap: Forest Products Makers climb (AP)

Friday August 1, 2:16 pm ET Forest products makers rise as analysts boost estimates for sector leader International Paper NEW YORK (AP) -- Shares of forest products makers surged Friday after the largest company in the sector reported second-quarter earnings that easily beat Wall Street expectations. International Paper Co. said Thursday its second-quarter profit jumped 20 percent, as strong international sales helped offset rising energy and raw material costs. The Nashville, Tenn.-based company said it earned 54 cents per share, compared with 44 cents per share in the year-ago quarter. On an adjusted basis, the company earned 56 cents per share. Analysts polled by Thomson Financial, whose estimates are typically adjusted, expected earnings of 39 cents per share. In a note Friday, CIBC World Markets analyst Don Roberts... [read full story]                    

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