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Stock Market & Financial Investment News

News Breaks
January 3, 2013
17:52 EDTAGROAdecogro announces sale and lease back of Santa Regina farm
Adecogro announced that on December 27, it completed the sale and lease back of 51% of the "Santa Regina" farm, located in General Villegas, province of Buenos Aires, Argentina. Under the terms of the agreement, Adecoagro sold 51% of the outstanding shares of Santa Regina S.A., a company whose main asset is the Santa Regina farm, for a total consideration $13M and has granted the buyer a call option to acquire on or before June 2014 the remaining 49% interest for $13.1M. Adecoagro will lease and operate the farm during the next two crop years as of May 2013. Santa Regina is a 3,618 hectare farm which was purchased by Adecoagro in 2002 for a total of $2.3M, or $625 per hectare. The book value of Santa Regina in the company's balance sheet was $3.1M, therefore this transaction will result in approximately $19.8M of operating profit recorded in Q4, with the following breakdown: a $9.3M gain corresponding to the sale of 51% stake of Santa Regina S.A., and a $10.5M gain corresponding to the fair valuation of Adecoagro's remaining 49% interest in Santa Regina S.A. according to IFRS accounting rules.
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July 15, 2014
10:00 EDTAGROOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Adecogro (AGRO) downgraded to Underperform from Neutral at BofA/Merrill... Campbell Soup (CPB) downgraded to Sell from Neutral at Goldman... Credicorp (BAP) downgraded to Neutral from Overweight at JPMorgan... El Paso Pipeline (EPB) downgraded to Neutral from Buy at Citigroup... Kellogg (K) downgraded to Sell from Neutral at Goldman... Kodiak Oil & Gas (KOG) downgraded to Market Perform from Outperform at BMO Capital... Lexmark (LXK) downgraded at Bernstein... Maxim Integrated (MXIM) downgraded to Equal Weight from Overweight at Barclays... Republic Airways (RJET) downgraded to Underperform from Neutral at BofA/Merrill... Sasol (SSL) downgraded to Neutral from Buy at Citigroup... Time Warner (TWX) downgraded to Equal Weight from Overweight at Evercore.
09:32 EDTAGROAdecogro downgraded to Underperform from Neutral at BofA/Merrill
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