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Stock Market & Financial Investment News

News Breaks
March 14, 2013
09:25 EDTMON, MON, MON, DD, DD, DD, CF, CF, CF, AGU, AGU, AGU, SYT, SYT, SYT, DOW, DOW, DOWCitigroup's agriculture analyst research team holds a conference call
Agriculture Research Team discusses fertilizers, ahead of the North American planting season, on an Analyst/Industry conference call to be held on March 15 at 10 am.
News For MON;DD;CF;AGU;SYT;DOW From The Last 14 Days
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February 3, 2016
05:59 EDTSYTChemChina's funding secured for $43B Syngenta acquisition, Reuters reports
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05:43 EDTSYTSyngenta: 2016 focus will be on profitability in challenging market conditions
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05:41 EDTSYTSyngenta reports FY15 sales $13.41B vs. $15.13B last year
Reports FY15 operating income $1.84B vs. $2.11B last year. Reports FY15 net income $1.34B vs. $1.62B last year. Reports FY15 EBITDA $2.78B vs. $2.93B last year. Reports FY15 EPS $17.78 vs. $19.42 last year. Syngenta CEO John Ramsay commented, "Over the last two years we have been dealing not only with low crop prices but also with emerging market instability and massive movements in currencies. Our ability to navigate our way through these headwinds was notably evident in 2015, when exchange rates reduced our full year sales by $1.8 billion - and yet the impact on EBITDA was contained at just $100 million. The latest currency challenge has been the rapid devaluation of the Brazilian Real, which accelerated during the summer, just as the planting season was getting underway."
05:33 EDTSYTChemChina offers to acquire Syngenta at value over $43B
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05:30 EDTSYTChemChina offers to acquire Syngenta at value over $43B
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February 2, 2016
16:23 EDTDOW, DDOn The Fly: Top stock stories for Tuesday
Stocks began the session in negative territory and remained there throughout the entire session. The early weakness was attributed to oil prices, which were down early and never recovered during the day. The losses of more than 5% brings the loss over the past two days to more than 10%, pushing WTI crude back below $30 a barrel and squashing equities in the process. Any hope that oil prices would de-couple from stock prices will have to wait another day as the two continue to move in lockstep with each other. Even a solid earnings report from tech bellwether Alphabet (GOOG) could not help the market. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet. In Europe, statistics agency Eurostat reported that unemployment across the eurozone decreased by 49,000 to a total of 16.75M in December dropping the unemployment rate to its lowest since September 2011 at 10.4%. In central bank news, the Reserve Bank of Australia and Reserve Bank of India both held their benchmark interest rates steady, as expected. COMPANY NEWS: Class A shares of Alphabet (GOOGL) advanced 1.3% to $780.91 after its better than expected quarterly results were followed by analysts around Wall Street hiking their price targets for shares, including Deutsche Bank analyst Ross Sandler, who raised his target on the parent of Google to $1,080 from $900... Exxon Mobil (XOM) reported better than expected revenue and profits in the fourth quarter, but its shares slid 2.2% to $74.61 amid the renewed weakness in oil prices. Shares of fellow oil major BP (BP) plunged 8.5% to $29.02 in New York trading after reporting a steep quarterly loss, largely due to $2.6B in charges related to impairments of Upstream assets as well as restructuring... Ford (F) shares fell 4.6% after the company reporting that its U.S. sales declined 3% last month versus a year ago. Peer General Motors (GM) slid 1.5% after reporting that its U.S. sales grew 0.5% in January... Dow Chemical (DOW) jumped 5.75% to $45.03 after posting better than expected earnings and revenue. Of note, Dow CEO Andrew Liveris said he plans to transition out of the company when it completes its planned merger with DuPont (DD). MAJOR MOVERS: Among the notable gainers were Michael Kors (KORS) and Mattel (MAT), which rose nearly 24% and almost 14%, respectively, following their earnings reports. Also higher was Pacific Biosciences (PACB), which jumped 24% to $12.67 after Reuters said Roche (RHHBY) has recently approached the company to discuss a potential acquisition. Among the noteworthy losers following earnings were Integrated Device (IDTI), which fell 26.8%, ADT (ADT), which dropped 15.7%, and Royal Caribbean (RCL), which declined 15.2%. INDEXES: The Dow fell 295.64, or 1.8%, to 16,153.54, the Nasdaq lost 103.42, or 2.24%, to 4,516.95, and the S&P 500 declined 36.35, or 1.87%, to 1,903.03.
13:44 EDTSYTChemChina considering delisting Syngenta after takeover, Bloomberg says
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12:03 EDTSYTOn The Fly: Top stock stories at midday
Wall Street began the session in negative territory and the averages have remained there throughout the day as oil once again weighs on stocks. The price of oil has slid another 4%, giving the commodity a roughly 10% loss over the past two trading sessions. The market's late day rally yesterday gave hope for a decoupling between equities and oil prices, but that appears to be a one day reprieve as the stocks are back in lock-step with crude prices. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet. In Europe, statistics agency Eurostat reported that unemployment across the eurozone decreased by 49,000 to a total of 16.75M in December dropping the unemployment rate to its lowest since September 2011 at 10.4%. In central bank news, the Reserve Bank of Australia and Reserve Bank of India both held their benchmark interest rates steady, as expected. COMPANY NEWS: Class A shares of Alphabet (GOOGL) advanced 5% in the wake of its report of better than expected quarterly earnings and revenue, pushing Google's parent company to overtake Apple (AAPL) as the world's most valuable publicly-traded company in the process... Exxon Mobil (XOM) reported better than expected revenue and profits in the fourth quarter, but its shares slid 2.5% amid the renewed weakness in oil prices. Shares of fellow oil major BP (BP) plunged 8% in New York trading after reporting a steep quarterly loss, largely due to $2.6B in charges related to impairments of Upstream assets as well as restructuring... Pfizer (PFE) reported better than expected fourth quarter results, but forecast 2016 revenue and earnings below analysts' estimates, pushing its shares down fractionally. MAJOR MOVERS: Among the notable gainers was Syngenta (SYT), which rallied 4.5% after Bloomberg reported that ChemChina was close to a deal to buy the company for nearly $43B. Also higher were Mattel (MAT), Michael Kors (KORS), and Fabrinet (FN), which gained 12%, 22%, and 12.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Twitter (TWTR), which fell 8% after it was downgraded to Sell at Stifel and following a report claimed that tweets on the service are down 50% from their peak. Also lower were AGCO (AGCO), Harris (HRS), and Pitney Bowes (PBI), which were down 10%, 9.5%, and 11%, respectively, after reporting quarterly earnings. In addition, Ford (F) and General Motors (GM) lost 4% and 3.6%, respectively, after reporting U.S. sales for the month of January. INDEXES: Near midday, the Dow was down 239.86, or 1.46%, to 16,209.32, the Nasdaq was down 64.83, or 1.4%, to 4,555.54, and the S&P 500 was down 27.87, or 1.44%, to 1,911.51.
10:13 EDTDOWDow Chemical CEO Liveris to depart no later than 2Q17
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09:28 EDTDOWOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Michael Kors (KORS), up 17.3%... Mattel (MAT), up 6.9%... Mallinckrodt (MNK), up 4.3%... Alphabet (GOOGL), up 5%... Dow Chemical (DOW), up 3%... UPS (UPS), up 2.3%. ALSO HIGHER: Netflix (NFLX), up 1.1% after being upgraded to Overweight from Neutral at Piper Jaffray... Hansen Medical (HNSN), up 18.8% after announcing FDA clearance of Magellan Robotic Catheter eKit. DOWN AFTER EARNINGS: Integrated Device (IDTI), down 20%... BP (BP), down 8.5%... Royal Caribbean (RCL), down 7%... Waddell & Reed (WDR), down 5.5%... Archer Daniels Midland (ADM), down 5.5%. ALSO LOWER: Twitter (TWTR), down after being downgraded to Sell from Hold at Stifel... American Campus (ACC), down 1.1% after 15.6M share Spot Secondary priced at $41.25... Horsehead (ZINC), down 47.6% after filing for Chapter 11 protection in Delaware.
07:28 EDTSYTChemChina close to deal to acquire Syngenta for $43B, Bloomberg reports
ChemChina is close to a deal to buy Syngenta for $42.8B, Bloomberg reports, citing sources. Reference Link
06:56 EDTDOWDow Chemical appoints James Fitterling as COO
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06:50 EDTDOWDow Chemical CEO says FY16 to be 'another significant year for Dow'
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06:47 EDTDOWDow Chemical reports Q4 operating EPS 93c, consensus 70c
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February 1, 2016
14:32 EDTDOWNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Exxon Mobil (XOM), consensus 64c... Pfizer (PFE), consensus 52c... United Parcel Service (UPS), consensus $1.42... Dow Chemical (DOW), consensus 70c... Emerson Electric (EMR), consensus 51c... Archer-Daniels-Midland (ADM), consensus 66c... Baxter (BAX), consensus 32c... Sirius XM (SIRI), consensus 3c... Royal Caribbean Cruises (RCL), consensus 92c... Ally Financial (ALLY), consensus 51c... Michael Kors (KORS), consensus $1.46... ADT Corp. (ADT), consensus 46c.
09:07 EDTCFCF Industries, CHS commence strategic venture
CF Industries (CF) and CHS (CHSCP) announced that they have commenced their previously announced nitrogen fertilizer strategic venture. CHS completed its $2.8B equity investment in CF Industries Nitrogen, LLC, a CF Industries subsidiary, and will start receiving delivery of urea and urea ammonium nitrate from CF Industries under a long-term supply agreement. CHS has purchased a minority equity interest in CF Nitrogen for $2.8B effective Feb. 1, 2016. Through the investment, CHS will be entitled to semi-annual profit distributions from CF Nitrogen based generally on the volume of granular urea and UAN purchased by CHS pursuant to the supply agreement. Starting Feb. 1, 2016, CHS is entitled to purchase up to 1.1M tons of granular urea and 580,000 tons of UAN annually from CF Nitrogen for ratable delivery. The 1.7M product tons available under the supply agreement represent approximately 8.9% of CF's total production capacity once its capacity expansion projects are completed at Donaldsonville, La., and Port Neal, Iowa, expected in 2016.
January 31, 2016
11:39 EDTDDS&P falls 5% in January despite second straight winning week to close month
Stocks finished the month of January with two straight winning weeks, but investors are still glad to see the calendar flip as those winners only cut the S&P's loss to 5% for the month. With growth worries abounding amid troubling signs from China and as oil languishes below $35 per barrel, the manufacturing readings from China, Europe, and the U.S. due out on Monday will be essential to whether the new month continues the uptrend of the end of January or the dour tone that dominated the early half of the month. MACRO NEWS: The Federal Reserve kept interest rates unchanged following its policy meeting this week, as almost universally expected. In its accompanying statement, the central bank said its committee members expect that economic conditions will "evolve in a manner that will warrant only gradual increases in the federal funds rate." The group added that inflation is expected to "remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further"... In other domestic economic news, the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. New home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. Initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast... In a surprising move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: McDonald's (MCD) advanced Monday after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S.... Earnings season accelerated Tuesday as four members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M (MMM) was the top advanced on the index with a gain of over 5%, while Johnson & Johnson (JNJ), Procter & Gamble (PG) and DuPont (DD) all notched gains that day following their reports as well... Apple (AAPL) declined more than 6.5% on Wednesday after the tech giant reported first quarter earnings that topped consensus estimates, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China. Apple was not the worst performer in the Dow that day, as Boeing (BA) shares plummeted nearly 9% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Facebook (FB) surged 15.5% on Thursday after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. The same day, Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded almost 5% after the company jumped over the lowered bar that had been set by bearish analysts... On Friday, shares of Amazon (AMZN) declined more than 7.5% after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings, gained almost 6%. Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44... Among the many others reporting earnings this week, Visa (V), Mastercard (MA), Under Armour (UA), Sprint (S) and Biogen (BIIB) gained immediately following their reports, while Qualcomm (QCOM), eBay (EBAY), U.S. Steel (X), VMware (VMW) and Anthem (ANTM) all slid following their own... Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Terex (TEX) surged more than 36% higher on Tuesday after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also gained after the offer was disclosed... Weight Watchers (WTW) shares soared nearly 20% Tuesday after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress using the company's program, indicating that she'd already lost 26 pounds thanks to its plan... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over the next two years and announcing the sale of AIG Advisor Group to Lightyear Capital and PSP Investments. The company, under ongoing pressure from activist investors including Carl Icahn, also said it will publicly offer a portion of its United Guaranty unit, though it expressly rejected a full company breakup... SunEdison (SUNE) gained 18% during the week after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote... Twitter (TWTR) slumped nearly 6% this week after CEO Jack Dorsey confirmed the departure of four company executives, leading research firm Stifel to downgrade the shares. INDEXES: The Dow gained about 2.2% to close at 16,466.30; the S&P 500 rose about 1.6% to close at 1,940.24; the Nasdaq advanced about 0.4% to close at 4,613.95.
January 29, 2016
14:07 EDTDOWDow Chemical volatility elevated into Q4 and outlook
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07:21 EDTDDDuPont management to meet with Deutsche Bank
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06:45 EDTDDDuPont faces 40 trials per year over Teflon chemical leak, Reuters says
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