Top Basic Materials Stocks Losers are WFT, PAL, TRE

Weatherford International Ltd. (NYSE:WFT) is down 7.84% to $16.34 on 4.99 million shares after the company reported fourth quarter 2009 income from continuing operations of $15 million, or $0.02 per diluted share, excluding an after tax loss of $0.06 for investigation and exit costs incurred in connection with the company's withdrawal from sanctioned countries. Fourth quarter diluted earnings per share from continuing operations reflect a decrease of 96 percent over the fourth quarter of 2008 diluted earnings per share from continuing operations of $0.53, before severance and investigation costs.

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North American Palladium Ltd. (AMEX:PAL) plunges 4.36% to $3.95. The stock hit an intraday high and an intraday low of $4.02 and $3.88 respectively. In the last six months the stock went up over 53%. North American Palladium Ltd. is in the business of exploring and mining Platinum Group Metals (PGMs) and certain base and precious metals. Its principal asset is the Lac des Iles mine, located in the Thunder Bay District in Ontario.

Tanzanian Royalty Exploration Corp. (US) (AMEX:TRE) decreases 16.77% to $3.92. The stock hit an intraday high and an intraday low of $4.79 and $3.91 respectively. In the last six months the stock went up over 21%. Tanzanian Royalty Exploration Corporation is a mineral resource company. The Company's general area of interest has been in the exploration of gold properties, with a primary focus on exploring for gold properties in Tanzania.

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