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Stock Market & Financial Investment News

News Breaks
January 30, 2013
11:02 EDTMOSMosaic settles potash antitrust litigation
The Mosaic Company announced that it has agreed to settle previously reported potash antitrust litigation. The litigation has been pending in U.S. District Court in the Northern District of Illinois since 2008. Mosaic will pay $43.75M to settle all claims with both putative classes. Mosaic chose to settle these claims to avoid the significant costs, burden, and distraction of protracted litigation. Mosaic did not admit any wrongdoing and will be released from any liability in connection with the plaintiffs' claims. The settlement is subject to final court approval.
News For MOS From The Last 14 Days
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January 29, 2015
10:57 EDTMOSJP Morgan reports 6.3% passive stake in Mosaic
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January 20, 2015
08:26 EDTMOSAgrium preferred over Potash, Mosaic at Canaccord
Canaccord said they prefer Agrium (AGU) over both Potash (POT) and Mosaic (MOS). Mosaic raised its guidance due to its phosphate business, but with a lack of catalysts expected in the potash market in 2015 the firm continues to see solid growth volume, increasing nitrogen margins, and free cash flow expansion for Agrium. Canaccord maintains its Buy rating on Agrium and its Hold rating on both Mosaic and Potash shares.
January 19, 2015
16:29 EDTMOSMosaic expects 'further business strength' into 2015
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16:28 EDTMOSMosaic raises Q4 EPS outlook to 83c-88c, consensus 57c
The Mosaic Company announced that it expects reported phosphates volume and phosphates and potash margins to exceed previously provided guidance ranges, and that potash volumes will be at the high end of guidance range, resulting in Q4 earnings per share in the range of 93c-98c, including 10c in net benefits from notable items. The notable items include early estimates of discrete tax benefits, primarily related to the acquisition of a Brazilian distribution business, which may change. The company expect earnings, excluding notable items, to be in the range of 83c-88c. The consensus EPS estimate is 57c..Mosaic stated, "Demand for potash and phosphates exceeded our expectations during the fourth quarter,. We were cautiously optimistic going into the fall application season with good crop nutrient affordability and an empty supply chain, but customers came to the market in force, as they sought to position inventory in anticipation of a strong spring season and increasing crop nutrient prices...Our Phosphates business sold 3.3 million tonnes of finished product during the quarter - well above our expectations - and our Potash business produced at a high operating rate due to a successful proving run at the Colonsay mine." Mosaic's peers include Potash (POT) and Agrium (AGU).

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