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Stock Market & Financial Investment News

News Breaks
January 16, 2014
09:15 EDTCF, MOSCF announces termination of HSR waiting period relating to Mosaic deal
CF Industries Holdings (CF) announced that it has been notified that the U.S. Department of Justice has closed its review and terminated the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act relating to the company’s $1.4B sale of its phosphate business to the Mosaic Company (MOS). The closing of the transaction is subject to various additional conditions, including approvals under applicable foreign antitrust laws, receipt of other governmental and third party consents and other customary closing conditions.
News For CF;MOS From The Last 14 Days
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April 15, 2014
16:22 EDTMOSOn The Fly: Closing Wrap
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13:19 EDTMOSArcher Daniels announces $350M unit sale to Mosaic, other actions
Archer Daniels Midland (ADM) announced three actions in the company’s ongoing portfolio management. ADM has signed an agreement to sell its fertilizer business in Brazil and Paraguay to The Mosaic Company (MOS) for $350M. The transaction consists primarily of five ADM-owned blending facilities in Brazil and Paraguay. The purchase price includes $150M in working capital. As part of the transaction, ADM will purchase fertilizer from Mosaic after the closing and will continue to supply certain fertilizer customers in Brazil and Paraguay. ADM also announced it will pursue the sale of its chocolate business, while retaining the majority of its cocoa press operations. The company has engaged advisers to facilitate the sale process. Finally, ADM announced it will acquire the remaining 20% minority stake of Alfred C. Toepfer International for EUR83M, representing about 1.1x net book value. The proposed transaction, which is occurring through the exercise of a put agreement by Union InVivo, will be subject to customary regulatory approvals. Since 2002, ADM has owned 80% of Toepfer. InVivo will remain a strategic business partner for ADM in Europe.
12:31 EDTMOSMosaic to acquire Archer Daniels' Brazil, Paraguay fertilizer units
Mosaic (MOS) signed definitive agreements with Archer Daniels Midland (ADM) to acquire its fertilizer distribution business in Brazil and Paraguay for $350M. The purchase price assumes the delivery of $150M in working capital at closing. This acquisition is expected to accelerate Mosaic's previously announced growth plans in Brazil as well as replace planned internal investments in that country. Under the terms of the agreement, Mosaic would acquire four blending and warehousing facilities in Brazil, one in Paraguay and additional warehousing and logistics service capabilities. The acquisition of ADM's fertilizer distribution business would increase Mosaic's annual distribution in the region from approximately 4M metric tonnes to about 6M metric tonnes of crop nutrients. The parties have also negotiated the terms of five-year fertilizer supply agreements providing for Mosaic to supply ADM's fertilizer needs in Brazil and Paraguay. Mosaic will fund the acquisition with cash from operations. The transaction is not expected to impact Mosaic's shareholder distribution plans. The proposed sale will be contingent on customary regulatory approvals.
April 10, 2014
10:00 EDTCFOn The Fly: Analyst Downgrade Summary
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06:20 EDTCFCF Industries downgraded to Equalweight from Overweight at Barclays
Barclays downgraded CF Industries based on relative valuation. Price target remains $267.
April 9, 2014
12:04 EDTCF, MOSU.S. corn exports projected to increase 125M bushels
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April 4, 2014
13:12 EDTMOSCanpotex announces agreement with Indian customers
Canpotex announced that it has agreed to an annual contract with its government and private sector partners in India to supply approximately 1 million tonnes of potash at a price of $322.00 per tonne on a CFR basis. Dechka also confirmed that Canpotex intends to expand its market development programs in India in future to help provide Indian farmers with the educational and other tools needed to improve yields through balanced fertilization and best management practices. Canpotex is the exclusive offshore marketing company owned by the three Saskatchewan potash producing companies: Agrium (AGU), Mosaic (MOS), and Potash Corporation of Saskatchewan (POT).
April 3, 2014
10:00 EDTCFOn The Fly: Analyst Downgrade Summary
BB&T (BBT) downgraded to Outperform from Strong Buy at Raymond James... Broadcom (BRCM) downgraded to Neutral from Overweight at Piper Jaffray... CF Industries (CF) downgraded to Neutral from Buy at Citigroup... CSX (CSX) downgraded to Equalweight from Overweight at Barclays... Cheniere Energy (LNG) downgraded to Neutral from Outperform at Credit Suisse... Citigroup (C) downgraded to Neutral from Buy at Sterne Agee... Deutsche Bank (DB) downgraded to Neutral from Overweight at JPMorgan... G&K Services (GK) downgraded to Neutral from Outperform at RW Baird... Marcus (MCS) downgraded to Neutral from Buy at B. Riley... National Retail Properties (NNN) downgraded to Sell from Neutral at UBS... Norfolk Southern (NSC) downgraded to Neutral from Overweight at Atlantic Equities... Orion Energy (OESX) downgraded to Hold from Buy at Ascendiant... VIVUS (VVUS) downgraded to Underweight from Neutral at Piper Jaffray... Liquidity Services (LQDT) downgraded to Neutral from Outperform at RW Baird... Shaw Communications (SJR) downgraded to Sector Performer from Outperformer at CIBC... USG (USG) downgraded to Neutral from Outperform at Macquarie... Level 3 (LVLT) downgraded to Hold from Buy at Gabelli... U.S. Bancorp (USB) downgraded to Neutral from Conviction Buy at Goldman... Extra Space Storage (EXR) downgraded to Buy from Conviction Buy at Goldman... First Republic Bank (FRC) downgraded to Buy from Conviction Buy at Goldman... TELUS (TU) downgraded to Neutral from Outperform at Macquarie.
06:22 EDTCFCF Industries downgraded to Neutral from Buy at Citigroup
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06:05 EDTMOSMosaic implied volatility of 21 at lower end of index mean range
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