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News For SYT From The Last 14 Days
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November 25, 2015
06:23 EDTSYTSyngenta chairman: Company eyeing takeovers, JVs, asset sales, Reuters says
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November 20, 2015
11:05 EDTSYTSyngenta sues grain trading companies in corn conflict, WSJ says
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November 19, 2015
17:41 EDTSYTTreasury announces actions to reduce tax benefits of corporate inversions
The Treasury said the following in a press release: "The U.S. Department of the Treasury and the Internal Revenue Service issued a notice that takes additional steps to reduce the tax benefits of - and when possible, stop - corporate inversions. U.S. companies are currently taking advantage of an environment that allows them to move their tax residence overseas to avoid paying taxes, without making significant changes in the nature of their overall operations. Last year, Treasury took targeted steps to address this issue, and this notice identifies additional ways to reduce the incentives to invert." Companies interested in possible inversion deals include Pfizer (PFE) and Allergan (AGN). Also, U.S. based Monsanto (MON) is pursuing Swiss agricultural firm Syngenta (SYT) in a possible inversion strategy. Reference Link
November 18, 2015
06:01 EDTSYTMonsanto studying possibility for consolidation in agrochem sector, Reuters says
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November 17, 2015
16:26 EDTSYTOn The Fly: Top stock stories for Tuesday
Stocks on Wall Street see-sawed throughout the day and eventually finished the day mixed, with solid earnings reports from both Wal-Mart (WMT) and Home Depot (HD) helping the Dow notch a small gain while the S&P recorded a small loss. The averages looked to be set to extend yesterday's advance, but weakened during the afternoon following news of a stadium evacuation in Europe that unsettled investors and put a halt to the rally. The market struggled into the close but avoided a big selloff as headlines crossed that police in Germany found no explosives at the site of the game cancellation in Hanover. ECONOMIC EVENTS: In the U.S., the consumer price index rose 0.2% in October, as expected. When food and energy prices are stripped out, the "core" CPI also rose 0.2%, also matching the consensus forecast. Industrial production slid 0.2% in October, versus expectations for it to have risen 0.1%. Capacity utilization came in as expected at 77.5%. NAHB's home builder sentiment index fell 3 points to 62 in November, versus expectations for a reading of 64. COMPANY NEWS: Shares of Wal-Mart advanced 3.5% to $59.92 after the world's largest retailer reported better than expected quarterly earnings and gave a fiscal year profit outlook that was higher than expected at the midpoint of the company's range. Another retail giant and fellow Dow member, Home Depot, gained 4.4% to $126.18 while TJX (TJX), owner of the TJ Maxx and HomeGoods brands, rose nearly 4% to $68.18 after their own better than expected quarterly reports. Missing out on the retail rally, however, was Dick's Sporting Good (DKS), which tumbled 9.4% to $36.96 after giving guidance for the holiday quarter and fiscal 2015 that missed consensus estimates. MAJOR MOVERS: Among the notable gainers was Airgas (ARG), which jumped $31.17, or 29.39%, to $137.35 after agreeing to be acquired by Air Liquide for $143 per share. Also higher was Syngenta (SYT), which advanced $6.69, or 9.24%, to $79.06 after Monsanto (MON) Chief Operating Officer Brett Begemann told reporters the company is weighing another attempt at acquiring the Swiss firm. Among the noteworthy losers were GNC (GNC), Vitamin Shoppe (VSI), and Natural Health (NHTC), which dropped a respective 6.4%, 5%, and 15.4% after the Department of Justice said in a media advisory that it would announce actions related to dietary supplements sales and unlawful ads. Shares in the publicly traded companies came off their lows, but did not fully recover heading into the close, after the agency announced that its criminal case was charging USPlabs and that its five civil cases were against a number of smaller businesses. Also lower was SunEdison (SUNE), which fell $1.54, or 33.74%, to $3.02, with Oppenheimer attributing the selloff to "unsubstantiated rumors" regarding its liquidity and Deutsche Bank saying language in Vivint Solar's (VSLR) quarterly filing around SunEdison debt financing could concern some investors who are focused on the balance sheet. Additionally, Adeptus (ADPT) declined 22.3% to $46.50 after an NBC affiliate published an investigative report scrutinizing billing practices at freestanding emergency rooms in Colorado. INDEXES: The Dow rose 6.49, or 0.04%, to 17,489.50, the Nasdaq gained 1.40, or 0.03%, to 4,986.02, and the S&P 500 slipped 2.75, or 0.13%, to 2,050.44.
13:19 EDTSYTMonsanto weighs another takeover offer for Syngenta, Bloomberg reports
Monsanto (MON) is weighing another takeover attempt for Syngenta (SYT) after China National Chemical Corporation made an offer for Syngenta, Bloomberg reports. Monsanto is having internal discussions over the benefits of a new offer, the report says, citing comments from COO Brett Begemann in front of reporters in St. Louis. Reference Link
11:27 EDTSYTMonsanto still sees earnings doubling by 2019, Bloomberg reports
Monsanto (MON) COO Brett Begemann told reporters ahead of the company's biennial investor event tomorrow that his company still expects its earnings to double between 2014 and 2019, according to Bloomberg. Begemann added that Monsanto management is internally discussing making another takeover approach to Syngenta (SYT), the news agency added. Begemann noted that acquisitions are not needed for Monsanto to double earnings by 2019. He expects 20% earnings growth in 2017, 2018 and 2019, Bloomberg reports.
11:24 EDTSYTSyngenta jumps 3% after Monsanto says discussing another approach
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11:23 EDTSYTMonsanto COO says internally discussing another Syngenta approach
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