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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
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September 17, 2014
06:53 EDTDDWhite House says companies taking steps to reduce HFCs emissions
The Obama Administration yesterday announced new private sector commitments and executive actions to reduce emissions of hydroflourocarbons, or HFCs, powerful greenhouse gases that contribute to climate change, the Shite House stated. Coca-Cola (KO) has set a goal for 100 percent of its newly purchased cold drink equipment to be HFC-free, .while DuPont (DD),, announced that its new products are anticipated to reduce greenhouse gas content of refrigerants by some 90M tons carbon dioxide equivalent in the U.S., and 245M tons worldwide by 2025, the White House noted. Honeywell (HON) plans to transition the majority of its high-GWP HFC production to new low-GWP production, while Johnson Controls (JCI) committed to using the lowest GWP option for each application that best fits the needs of its customers from the standpoint of safety, efficiency, reliability, availability, and economy, according to the White House Johnson Controls also commits to spend $50M over the next three years to develop new products and improve and expand its existing low-GWP portfolio.
06:51 EDTDDTrian Partners says DuPont should separate into GrowthCo and CyclicalCo/CashCo
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06:43 EDTNEMNewmont head says concentrating on operations, not Barrick, Reuters says
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06:06 EDTDDTrian Partners says DuPont's structure 'destroying shareholder value'
Trian Fund Management, L.P., whose investment funds beneficially own approximately $1.6B of the outstanding shares of DuPont, said it has sent a letter to the bomard analyzing how DuPont’s conglomerate structure is destroying shareholder value. The letter and accompanying White Paper Summary also detail initiatives DuPont should take that Trian believes could significantly improve DuPont’s financial performance and double the value of its common stock within three years. Trian plans to meet with DuPont shareholders to present its analysis and strongly recommends that the DuPont Board meet shareholders without management present to hear their views. In the letter, Trian said, "While we applaud the announced spin-off of Performance Chemicals, the Fresh Start initiative and the $5 billion share buyback authorization, we believe strongly that, by themselves, these moves are not enough to optimize shareholder value. We would have preferred to continue working privately with management and the Board, but it is now clear that the Board is not willing to hold management accountable for continuing underperformance and repeated failures to deliver promised revenue and earnings targets. Therefore, we can no longer be silent as DuPont continues to struggle to execute what we are convinced is a flawed business plan, especially as we have a solution that we believe could double the value of DuPont’s shares over the next three years."
05:58 EDTDDTrian wants DuPont to spin off agriculture, nutrition units, WSJ reports
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September 16, 2014
17:27 EDTMOSUralkali has no plans to restore Belarus potash arrangement, WSJ says
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07:41 EDTNEMDenver Gold Group to hold a forum
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September 12, 2014
05:22 EDTNEMNewmont Mining signs agreement to sell stake in Penmont JV in Mexico for $477M
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September 11, 2014
12:03 EDTMOS, DDUSDA raises U.S. corn yield forecast to record
In its monthly World Agricultural Supply and Demand Estimates, or WASDE, report, the U.S. Department of Agriculture's corn yield forecast is raised 4.3 bushels per acre to a record 171.7 bushels. Corn production for 2014/15 is forecast 363 million bushels higher at a record 14,395 million bushels. Total 2014/15 corn usage is projected at 13,605 million bushels, up 170 million from last month. Although a record, usage is expected up just 5 million bushels from 2013/14 as export prospects remain constrained by large foreign carryin stocks, the USDA wrote. Publicly traded companies in the agriculture space include Agrium (AGU), Andersons (ANDE), Archer Daniels (ADM), Bunge (BG), CF Industries (CF), Compass Minerals (CMP), DuPont (DD), Intrepid Potash (IPI), Monsanto (MON), Mosaic (MOS), Potash (POT) and Syngenta (SYT).
08:39 EDTFCXFreeport McMoRan to purchase non-core assets from Quaterra for $5M
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September 10, 2014
19:18 EDTDOWDow Chemical loses appeal to receive $1B in tax deductions, Reuters says
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September 9, 2014
10:10 EDTMOSOn the Fly: Analyst Downgrade Summary
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10:10 EDTNEMOn the Fly: Analyst Upgrade Summary
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08:52 EDTMOSFertilizer estimates lowered at Cowen
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08:20 EDTMOSMosaic downgraded at RBC Capital
As noted earlier, RBC Capital downgraded Mosaic to Sector Perform from Outperform. The firm downgraded the stock based on higher phosphate input costs and concerns about potash market fundamentals. Target to $51 from $55.
06:34 EDTMOSMosaic downgraded to Sector Perform from Outperform at RBC Capital
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06:09 EDTNEMNewmont Mining upgraded to Outperform from Market Perform at Cowen
September 8, 2014
08:35 EDTDOWDow Chemical Chief Information Officer, Chief Sustainability Officer to retire
David E. Kepler, executive vice president, chief sustainability officer and chief information officer, has decided to retire at the end of this year. James R. Fitterling, vice chairman, Business Operations, will have executive oversight of Dow’s businesses including, Dow Packaging and Specialty Plastics, Dow Elastomers, Dow Electrical & Telecommunications, Polyurethanes, Epoxy, Specialty Chemicals, Chemicals, Hydrocarbons, and Energy. Fitterling will also continue to oversee implementation of the Company’s previously announced Chlorine, Chlorinated Organics, and Epoxy carve-out and divestment efforts. In addition, he will add to his responsibility for Supply Chain the following functions: Dow’s Business Services, which includes Information Systems and Workplace Services, Business Process Services, Purchasing, Customer Service, the Dow Services Business, and the Environmental Health & Safety and Sustainability organizations. Fitterling assumes this portion of his ne responsibilities from David E. Kepler, who has decided to retire from Dow following a 39-year career with the Company. Kepler most recently served as executive vice president, chief sustainability officer and chief information officer. Joe E. Harlan, chief commercial officer and vice chairman, Market Businesses, will have executive oversight for Dow’s market-driven businesses including, Agricultural Sciences, Dow Electronic Materials, Dow Pharma and Food Solutions, Home and Personal Care, Dow Automotive Systems, Dow Oil & Gas, Dow Microbial Control, Dow Water & Process Solutions, Dow Coating Materials, Performance Monomers, and Dow Building & Construction. Additionally, in his role as chief commercial officer he will drive Dow’s global Marketing and Sales strategy and organization. He will also maintain executive oversight of the Company’s presence in Asia Pacific.
08:31 EDTDOWDow Chemical CFO William Weideman to retire, Ungerleider to succeed as CFO
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September 5, 2014
06:01 EDTNEMNewmont recommends stockholders reject 'mini-tender' offer by TRC Capital
Newmont Mining has received notice of an unsolicited "mini-tender" offer by TRC Capital to purchase up to 4M shares of common stock of Newmont at $25.15 per share. This offering price is 4.41 percent below the $26.31 per share closing price of Newmont shares on September 3, 2014, the day before the offer. TRC has made its offer subject to numerous conditions and has stated that it may terminate or amend its offer if, among other things, it does not obtain sufficient financing on terms satisfactory to it or there is any decrease in the market price of the shares. Newmont recommends that stockholders who have not responded to the TRC offer take no action because the offer is at a price below the current market price for Newmont shares and is subject to numerous conditions.
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