Fortescue Metals (FMG) - With RIO and BHP both coming out with good earnings reports it will down to FMG to keep the ball rolling

Fortescue Metals (FMG) - With RIO and BHP both coming out with good earnings reports it will down to FMG to keep the ball rolling. The miner is likely to report just after the open of the cash market and the range for underlying net profit is fairly wide (consensus for NPAT is $1.2 billion). Last month FMG lowered its 2014 shipping guidance the low end of 127 to 135mt range, however if you look at price action the stock continues to print higher highs and looks strong. Keep an eye on the health of its balance sheet, which should highlight a reduction in its net debt position and given what we have seen from its peers an update on costs is key. They are expected to pay an interim dividend of 5c (fully franked)