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Stock Market & Financial Investment News

News Breaks
December 5, 2012
10:04 EDTDD, AGU, CMP, POT, CPO, MOS, ADM, DE, MON, BG, CNH, ANDE, CF, IPI, SYTCongress making progress on farm bill, Politico says
There are signs that lawmakers are making "real progress" on passing a farm subsidies bill before the end of the year, according to Politico. A meeting of the top agricultural lawmakers in both houses seemed to bear some fruit, and price supports backed by Southern farmers are likely to be included in the bill, the website stated. Reference Link
News For CPO;SYT;BG;POT;IPI;MON;CMP;CF;DE;AGU;ANDE;ADM;DD;CNH;MOS From The Last 14 Days
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January 26, 2016
08:29 EDTDDDuPont sees Agriculture Q1 sales down about 10%
In Agriculture, DuPont sees Q1 sales down about 10%, as local price gains are more than offset by lower crop protection and soybean volumes and currency; volumes will be more challenged in the first quarter due to the strong start in North America corn seed which benefited the fourth quarter of 2015. Sees Q1 segment operating earnings down low-twenty percent as local price gains are more than offset by lower volumes and currency. For full year, sees Agriculture sales down mid-single digits percent, as local price gains are more than offset by currency and lower crop protection and soybean volumes, with operating earnings about flat as local price gains and cost reductions and productivity are offset by currency and lower volumes; Sees FY Agriculture operating earnings up about 10% excluding currency.
08:26 EDTDDDuPont sees Q1 Performance Materials sales down high-single digits
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08:24 EDTDDDuPont sees Q1 Safety & Protection sales down in the mid teens percent
For Safety & Protection, DuPont sees Q1 sales to decline in the mid teens percent vs. prior year, with operating earnings down high teens percent, reflecting cost reductions and continued productivity more than offset by the impact of lower sales and currency. Sees full year segment sales down by the low single digits percent, with volume growth offset by currency, and operating earnings up mid teens percent.
08:22 EDTDDDuPont sees Q1 Electronics & Communications sales down mid-teens percent
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08:20 EDTDDDuPont sees Q1 Nutrition & Health sales down low-single digits
For Nutrition & Health segment, DuPont sees Q1 sales down low-single digits percent as volume growth is more than offset by the negative impact of currency. Sees Q1 operating earnings for the segment up low-single digits percent, as cost reductions and continued productivity more than offset the impact of currency. Sees Nutrition & Health segment full year sales down low-single digits percent, as volume growth is more than offset by the negative impact of currency. Sees full year operating earnings for the segment up high-teens percent, as cost reductions and continued productivity more than offset the impact of currency.
08:17 EDTDDDuPont sees Industrial Biosciences sales growth in low single digits in Q1
For Industrial Biosciences, DuPont sees modest volume growth in bioactives to be offset by unfavorable currency, resulting in sales growth in the low single digits percent vs. last year. Sees Q1 Industrial Biosciences operating earnings down by the mid single digit percent as cost reductions and continued productivity are expected to be more than offset by higher input costs and currency. For the full year in Industrial Biosciences, DuPont sees sales up low single digits on stronger volume and price, partly offset by currency. Sees segment operating earnings flat, with cost reductions offset by higher product costs and currency.
07:48 EDTDDDuPont repeats call for Dow Chemical merger to close in second half of 2016
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07:22 EDTDDDuPont sees $1.3B cash used for normal dividends, $2B for repurchases in 2016
Among its expected uses of cash for 2016, DuPont lists $1.3B for normal dividends, $2B for its share repurchase program, to be use during 2nd half 2016 open trading windows, and capex spend estimated to be $1.1B. In 2016, DuPont assumes global GDP growth of 2%, industrial production growth of 2% and for the U.S. dollar to be stronger against most currencies. Guidance from slides for Q4 earnings call presentation.
06:22 EDTDDDuPont sees FY16 operating EPS $2.95-$3.10, consensus $3.15
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06:22 EDTDDDuPont says actions for 2016 cost savings plan underway
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06:21 EDTDDDuPont says cost reductions from operational redesign contributed 10c to Q4
Cost reductions from operational redesign contributed an incremental $0.10 per share to fourth-quarter operating earnings.
06:20 EDTDDDuPont reports Q4 operating EPS 27c, consensus 26c
Reports Q4 revenue $5.3B, consensus $5.39B.
January 25, 2016
14:29 EDTDDNotable companies reporting before tomorrow's open
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13:25 EDTPOTPotash volatility elevated into Q4 and outlook
Potash January weekly call option implied volatility is at 71, February is at 51; compared to its 52-week range of 17 to 45, suggesting large near term price movement into the expected release of Q4 results on January 26.
13:08 EDTMOS, POTPotash slips as analyst casts doubt on dividend
Feed and fertilizer companies Mosaic (MOS) and Potash Corp. (POT) are both trading lower after being cut to Neutral from Overweight at JPMorgan, with the research firm calling into question Potash's dividend yield in the face of weak pricing for its staple commodity products. DIVIDEND DOUBT: As lower nitrogen and potash prices pressure cash flows, Potash Corp. looks reasonably likely to cut its dividend down to $1.00 per share from $1.52 during 2016, JPMorgan analyst Jeffrey Zekauskas argued Tuesday. Zekauskas clarified, however, that the fertizilier company has "wide discretion" as to whether it might actually continue to pay its current dividend, given its $3B in monetizable equity and a healthy balance sheet that could allow additional leverage. That said, the analyst's base case is that Potash will shrink the dividend amid the industry's cyclical downturn, leading him to lower his rating on the stock to Neutral and significantly cut his 2016 earnings predictions to $1.10 from $1.45. MOSAIC: Zekauskas also lowered his rating on Mosaic to Neutral while slashing his 2016 EPS estimates to $1.85 from $2.75, citing weaker prices for potash and phosphate. Unlike Potash Corp., Mosaic looks unlikely to cut its roughly 4.6% dividend yield, the analyst said. Zekauskas maintained that both companies remain attractive for longer-term value investors, saying he plans to review their ratings after Potash potentially rethinks its dividend and Wall Street financial estimates move lower. CEO COMMENTS: Speaking at the January 21 CIBC investor conference, Potash CEO Jochen Tilk stated, "We obviously believe -- and I'm sure you concur -- that the dividend is an important part of our company. And [when] we look at the cash ability that we have in 2016, the first goal is to be prudent with our balance sheet... More specifically to the dividend, I can't talk because we have our board meetings next week... It's on the agenda. It's a big discussion. We've done a lot of work in the analysis. We've done exactly what you say. We've done all the work that leads to the visibility to our balance sheet." PRICE ACTION: Shares of Potash Corp. have fallen roughly 6.7% to $15.02, while Mosaic is down 5.7% to $22.50.
11:18 EDTDEGoldman says sell Caterpillar with more pain to come from commodity slump
The shares of Caterpillar (CAT) are dropping after Goldman Sachs downgraded the stock to Sell from Neutral. Demand for machinery will probably drop as commodity producers continue to lower their capital expenditures going forward, the firm believes. WHAT'S NEW: Commodity producers are likely to reduce their capital spending, including their expenditures on machinery, according to Goldman analyst Jerry Revich. These trends will be driven by the producers' "challenging returns" and weak balance sheets, he believes. The commodity producers' slump will affect Caterpillar in two ways, the analyst explained. Specifically, 30% of Caterpillar's revenue is derived from commodity producers, while it obtains 25% of its revenue from countries that export commodities, where overall demand for machinery will probably fall, explained Revich. Moreover, although analysts' consensus estimates indicate that they expect Caterpillar's profit to bottom this year, capital spending in Caterpillar's main end markets appears to be above average levels, said Revich, who expects the company's 2017 EPS to come in 15% below the consensus outlook. The analyst cut his price target on the shares to $51 from $67. PRICE ACTION: In morning trading, Caterpillar dropped 4% to $58.54. Other machinery makers also declined, with Deere (DE) falling 2.8% to $72.54, AGCO Corporation (AGCO) slumping 3.6% to $44.28 and Joy Global (JOY) giving back 3.2% to $8.73.
10:00 EDTPOT, MOSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
06:34 EDTSYTChemChina may be closing in on higher offer for Syngenta, Financial Times says
ChemChina may be closing in on a higher offer for Syngenta, reports the Financial Times. If the transaction is completed, the deal would represent the largest overseas acquisition by a Chinese company. Reference Link
06:24 EDTPOT, MOSMosaic downgraded to Neutral from Overweight at JPMorgan
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06:21 EDTPOTPotash downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Jeffrey Zekauskas downgraded Potash (POT) to Neutral saying there is a "reasonable probability" that the company will reduce its dividend from $1.52 to $1.00 per share in 2016. The current dividend was set during a period of cyclical strength, unlike today's business landscape, Zekauskas tells investors in a research note. He cut his price target for Potash shares to $16 from $23.
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