New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 12, 2012
11:56 EDTFCX, DD, NEM, MOS, DOWChina announces cut in banks' reserve requirement ratio, Reuters says
China's central bank cut the amount of cash that banks must hold as reserves, banks' reserve requirement ratio, by 50 basis points, freeing up approximately $63.5B to help fend off a slowdown, says Reuters. Reference Link
News For FCX;DD;NEM;MOS;DOW From The Last 14 Days
Check below for free stories on FCX;DD;NEM;MOS;DOW the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
April 15, 2014
16:22 EDTMOSOn The Fly: Closing Wrap
Subscribe for More Information
13:19 EDTMOSArcher Daniels announces $350M unit sale to Mosaic, other actions
Archer Daniels Midland (ADM) announced three actions in the companyís 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.
12:27 EDTNEMNewmont Mining volatility increases as gold pulls back
Newmont Mining May call option implied volatility is at 34, above a level of 31 from April 14, June and September is at 32; compared to its 26-week average of 34 according to Track Data, suggesting non-directional near term price movement.
April 11, 2014
06:22 EDTFCXFreeport McMoRan cuts Grasberg mine workforce 'modestly,' WSJ reports
Freeport-McMoRan has "modestly" cut the workforce at its Grasberg mine, CEO Richard Adkerson tells the Wall Street Journal. The cuts come as a tax dispute with Indonesia's government drags on. Reference Link
April 9, 2014
12:04 EDTMOS, DDU.S. corn exports projected to increase 125M bushels
Subscribe for More Information
April 8, 2014
07:42 EDTDDSenate Agriculture, Nutrition & Forestry to hold a hearing
Subscribe for More Information
07:24 EDTDOWPR News to hold a conference
Subscribe for More Information
April 7, 2014
10:00 EDTNEMOn The Fly: Analyst Upgrade Summary
Agios Pharmaceuticals (AGIO) upgraded to Overweight from Neutral at JPMorgan... Alcoa (AA) upgraded to Hold from Sell at Deutsche Bank... Align Technology (ALGN) upgraded to Outperform from Market Perform at Barrington... Analog Devices (ADI) upgraded to Neutral from Sell at Goldman... B&G Foods (BGS) upgraded to Outperform from Sector Perform at RBC Capital... Citigroup (C) upgraded to Neutral from Underweight at HSBC... Intel (INTC) upgraded to Outperform from Sector Perform at Pacific Crest... JetBlue (JBLU) upgraded to Neutral from Sell at Goldman... Kindred Healthcare (KND) upgraded to Outperform from Sector Perform at RBC Capital... Lennox (LII) upgraded to Outperform from Market Perform at Wells Fargo... Newmont Mining (NEM) upgraded to Hold from Sell at Deutsche Bank... PBF Energy (PBF) upgraded to Buy from Neutral at Citigroup... Renasant (RNST) upgraded to Outperform from Market Perform at Raymond James... Select Medical (SEM) upgraded to Outperform from Sector Perform at RBC Capital... Ultra Petroleum (UPL) upgraded to Outperform from Market Perform at Raymond James... Under Armour (UA) upgraded to Buy from Neutral at Sterne Agee... Hercules Technology (HTGC) upgraded to Buy from Hold at Sandler ONeill... Standard Pacific (SPF) upgraded to Outperform from Market Perform at Raymond James... Yelp (YELP) upgraded to Outperform from Perform at Oppenheimer... Netflix (NFLX) upgraded to Outperform from Perform at Oppenheimer... Pandora (P) upgraded to Outperform from Neutral at Wedbush.
06:28 EDTNEMNewmont Mining upgraded to Hold from Sell at Deutsche Bank
Deutsche Bank upgraded Newmont Mining to Hold citing its more positive view on aluminum premia due to a delay in LME inventory destocking. The firm raised its price target for shares to $21 from $19.
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).
08:14 EDTDDDuPont, Tate & Lyle contemplating second biochemical plant, Bloomberg says
Subscribe for More Information
April 3, 2014
10:40 EDTDDDuPont $919M verdict thrown out by appeals court, Bloomberg reports
A U.S. court of appeals judge ruled that the trial judge in DuPontís victory over Kolon Industries for the alleged theft of trade secrets related to Kevlar had wrongly excluded evidence and the appeals court threw out the $919.9M court award for DuPont, according to Bloomberg. Reference Link
10:00 EDTFCXOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
09:30 EDTDDApple, Pfizer others create 'go slow' patent lobby group, Reuters says
Subscribe for More Information
09:18 EDTFCXFreeport McMoRan upgraded at Macquarie
Subscribe for More Information
08:30 EDTFCXFreeport McMoRan upgraded to Outperform from Neutral at Macquarie
Subscribe for More Information
07:04 EDTDOWDow Chemical price target raised to $57 from $52 at UBS
UBS believes Dow Chemical's earnings are bottoming and that oil-based chemicals are near trough. The firm shifted its price target to 2015 estimates and raised it to $57 from $52 and maintains its Buy rating.
06:05 EDTMOSMosaic implied volatility of 21 at lower end of index mean range
Subscribe for More Information
April 2, 2014
10:53 EDTMOSAgrium slips after warning on late planting season impact on earnings
Shares of agricultural nutrients producer Agrium (AGU) are slipping after the company warned that it expects first quarter earnings per share just above breakeven. WHAT'S NEW. Agrium announced that the late spring season this year is expected to result in first quarter earnings per share just above breakeven, while analysts' consensus estimate prior to the announcement stood at 53c per share. The company said the slow start to the spring season is expected to impact the timing of its wholesale, and to a lesser extent its retail, earnings. First quarter wholesale results were also impacted by reduced rail availability and the usual lag in realized wholesale nutrient prices, Agrium added. Additionally, the Carseland nitrogen facility experienced a failure in March, which has resulted in an unplanned shutdown to make repairs that are expected to be complete in the second half of May. The shutdown is anticipated to lower product availability of urea by approximately 100,000 tonnes and ammonia by approximately 20,000 tonnes in the second quarter, Agrium noted. WHAT'S NOTABLE: On February 20, Agrium said that it expected FY14 North American spring crop area to be near FY13. It said that it projected crop nutrient shipments to be strong in the first half of FY14, in part due to a shorter fall application season in FY13 due to weather. Agrium projected North American nitrogen demand to decline about 2%-4% in FY13/FY14 due primarily to reduced corn acreage, while global nitrogen demand is projected to increase by 1.5%-2% in FY14 from FY13 levels. OTHERS TO WATCH: Agrium's peers in the fertilizer industry include Mosaic (MOS) and Potash (POT). PRICE ACTION: During morning trading, shares of Agrium fell 1.76% to $95.80, Potash dropped 1.6%, and Mosaic slipped 0.7%.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use