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Stock Market & Financial Investment News

News Breaks
January 4, 2013
12:29 EDTMOS, POT, AGU, SCTY, HNR, ARAY, CSTR, FINLOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after the monthly jobs report was roughly in-line with forecasts and a measure of growth in the services sector beat expectations. The averages began the session in quiet fashion in what looked like the start of a day of market consolidation after the big advances seen Monday and Wednesday. Yesterday's pullback, triggered by the release of the minutes from the Fed's last meeting, may turn out to be the week's only down day if the current levels hold into the closing bell... ECONOMIC EVENTS: In the U.S., the Labor Department said employers added 155,000 jobs in December, which was about in-line with estimates and near the average pace of job growth over the last year. The unemployment rate for November was upwardly revised to 7.8% and the Labor Department said the 7.8% rate carried over to December as well. Factory orders were flat in November, versus expectations for them to increase 0.4%. The December ISM non-manufacturing index, which measures services sector expansion or contraction, came in at 56.1, versus expectations for a 54.1 reading. Reports from the Energy Information Administration showed inventories of crude oil and natural gas both drew down more than expected last week... COMPANY NEWS: Shares of Mosaic (MOS) advanced over 2.5% following its report of better than expected earnings and its peers in the fertilizer industry, including Potash (POT) and Agrium (AGU), rose in concert... Conversely, Finish Line (FINL) reported a break-even quarter, disappointing the Street and prompting downgrades at Northland Securities and Bank of America Merrill Lynch. Finish Line shares slid nearly 6%... MAJOR MOVERS: Among the notable gainers was recent IPO SolarCity (SCTY), which rose over 16% after it gave guidance for its expected growth in deployments this year. Also higher were shares of Harvest Natural Resources (HNR), up 12% after it announced a new oil discovery in West Africa. Among the noteworthy losers were Accuray (ARAY), down 20% following a downgrade to Underweight at JPMorgan after the company's negative Q2 pre-announcement, and Coinstar (CSTR), down over 5% after its CEO announced plan to retire in March... INDICES: Near noon, the Dow was up 15.88, or 0.12%, to 13,407.24; the Nasdaq was up 3.49, or 0.11%, to 3,104.06; and the S&P 500 was up 4.12, or 0.28%, to 1,463.49.
News For FINL;MOS;POT;AGU;SCTY;HNR;ARAY;CSTR From The Last 14 Days
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April 17, 2014
09:59 EDTSCTYOn The Fly: Analyst Upgrade Summary
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05:35 EDTSCTYSolarCity upgraded to Outperform from Neutral at RW Baird
RW Baird upgraded SolarCity to Outperform citing the recent pullback in shares and expectations the U.S. rooftop market will accelerate over the next several years. The firm keeps a $75 price target for the stock.
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.
12:56 EDTAGUAgrium files U.S. $2.5B mixed securities shelf
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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.
11:44 EDTPOTPotash Corp. advances after report says BHP could make new bid
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10:09 EDTPOTPotash upgraded to Neutral from Sell at Miller Tabak
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09:16 EDTPOTOn The Fly: Pre-market Movers
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09:07 EDTPOTPotash volatility expected to move on speculation of being target
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07:46 EDTPOTPotash Corp. speculated to be targeted again by BHP Billiton, Globe & Mail says
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April 10, 2014
08:15 EDTSCTYSolarCity risk/rewards favorable, says Goldman
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April 9, 2014
12:04 EDTMOS, AGU, POTU.S. corn exports projected to increase 125M bushels
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April 8, 2014
09:35 EDTSCTY, POTActive equity options trading on open
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07:40 EDTPOTIncoming Potash CEO likely to maintain priority on price, Reuters says
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April 7, 2014
14:04 EDTSCTYSolarCity to be probed in response to lawsuits, Watchdog.org says
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14:00 EDTSCTYSolarCity volatility increases as shares pull back to three-month low
SolarCity April weekly call option implied volatility is at 96, April is at 74, May is at 77, July is at 66; compared to its 26-week average of 65 according to Track Data, suggesting large near term price movement.

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