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Stock Market & Financial Investment News

News Breaks
February 14, 2012
15:54 EDTPOT, BHPPotash CEO sees good close of year, not against foreign owner, Bloomberg says
Potash Corp. (POT) CEO Bill Doyle said he is not opposed to foreign ownership but opposed a hostile takeover bid from BHP Billiton (BHP) because of his “duty” to receive full value for the company, reported Bloomberg, citing his statements at a meeting in Ottawa. Doyle's sees a “very robust” last nine months of the year, the report added. Reference Link
News For POT;BHP From The Last 14 Days
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January 29, 2016
08:02 EDTPOTPotash upgraded to Outperform from Sector Perform at Scotiabank
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January 28, 2016
13:59 EDTPOTPotash says does not expect closures at Saskatchewan facilities
Says will always consider M&A, but does not feel pressure to execute any deals. Says growth in Brazil in 2016 will be "flattish" at worst.
13:21 EDTPOTPotash says entered 2016 in 'subdued environment'
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12:56 EDTPOTPotash cuts dividend 34% to 25c from 38c per share
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12:55 EDTPOTPotash sees FY16 CapEx $800M-$900M
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09:19 EDTPOTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Facebook (FB), up 13.9%... Under Armour (UA), up 14.6%... MicroStrategy (MSTR), up 8.9%... Harley-Davidson (HOG), up 8%... Paypal (PYPL), up 6%... Mellanox (MLNX), up 7.9%... Cirrus Logic (CRUS), up 6.2%... Alibaba (BABA), up 4.5%. ALSO HIGHER: Neos Therapeutics (NEOS), up 61.4% after the FDA approved Adzenys XR-ODT for the treatment of ADHD... Exelixis (EXEL), up 4.7% after the U.S. FDA determined the company's New Drug Application for cabozantinib is sufficiently complete... Kinder Morgan (KMI), up 6.7% after being upgraded at Credit Suisse and Stifel. DOWN AFTER EARNINGS: OSI Systems (OSIS), down 21.3%... ServiceNow (NOW), down 22.3%... eBay (EBAY), down 11.5%... InvenSense (INVN), down 10.5%... Juniper Networks (JNPR), down 9.3%... Hologic (HOLX), down 4.4%... Abbott Laboratories (ABT), down 3.6%... Potash (POT), down 2.1%... Qualcomm (QCOM), down 3.6%.
06:07 EDTPOTPotash down 3.8% after reporting Q4 results
06:06 EDTPOTPotash sees FY16 EPS 90c-$1.20, consensus $1.34
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06:05 EDTPOTPotash sees Q1 EPS 10c-20c, consensus 29c
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06:04 EDTPOTPotash reports Q4 EPS 24c, consensus 30c
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January 27, 2016
14:34 EDTPOTNotable companies reporting before tomorrow's open
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12:05 EDTPOTEarnings Watch: Potash shares down 28% since Q3 report
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10:00 EDTBHPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Airlines (AAL) upgraded to Buy from Neutral at UBS... Armstrong World (AWI) upgraded on valuation at BB&T... Autoliv (ALV) upgraded to Outperform from Neutral at Baird... BHP Billiton (BHP) upgraded to Overweight from Equal Weight at Morgan Stanley... BorgWarner (BWA) upgraded to Outperform from Neutral at Baird... Boyd Gaming (BYD) upgraded on valuation at Sterne Agee CRT... CF Industries (CF) upgraded to Outperform from Underperform at CLSA... Deutsche Boerse (DBOEY) upgraded to Neutral from Underperform at Credit Suisse... Diamond Offshore (DO) upgraded to Neutral from Sell at Clarksons Platou... Exelon (EXC) upgraded to Neutral from Sell at Citi... FCB Financial (FCB) upgraded to Buy from Neutral at Guggenheim... Flushing Financial (FFIC) upgraded to Buy from Hold at Sandler O'Neill... Hawaiian Holdings (HA) upgraded to Buy from Hold at Deutsche Bank... Huntington Bancshares (HBAN) upgraded to Neutral from Underperform at Macquarie... Imperva (IMPV) upgraded to Outperform from Market Perform at JMP Securities... Lockheed Martin (LMT) upgraded to Outperform from Peer Perform at Wolfe Research... McDonald's (MCD) upgraded to Buy from Hold at Argus... Munich Re (MURGY) upgraded to Overweight from Equal Weight at Morgan Stanley... NextEra Energy (NEE) upgraded to Conviction Buy from Buy at Goldman... PG&E (PCG) upgraded to Buy from Neutral at Goldman... Panera Bread (PNRA) upgraded to Buy from Neutral at BTIG... Raptor Pharmaceuticals (RPTP) upgraded to Buy from Neutral at Citi... Siemens (SIEGY) upgraded to Equal Weight from Underweight at Barclays... Sprint (S) upgraded to Perform from Underperform at Oppenheimer... Stryker (SYK) upgraded to Buy from Hold at Brean Capital... Super Micro Computer (SMCI) upgraded to Positive from Neutral at Susquehanna... Talmer Bancorp (TLMR)upgraded to Outperform from Market Perform at Keefe Bruyette... Terex (TEX) upgraded to Neutral from Underweight at JPMorgan... Transocean (RIG) upgraded to Neutral from Sell at Clarksons Platou... Washington Trust (WASH) upgraded to Buy from Neutral at Compass Point... Yara (YARIY) upgraded to Buy from Hold at Berenberg.
06:14 EDTBHPBHP Billiton upgraded to Overweight from Equal Weight at Morgan Stanley
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January 25, 2016
17:37 EDTBHPVale, BHP to be guarantors of any Samarco deal, Reuters says
Vale (VALE) and BHP Billiton (BHP) will be financial guarantors of any accord reached between Brazil and the two companies' Samarco joint venture, reports Reuters, citing statements from the country's attorney general Luis Adams. Reference Link
13:25 EDTPOTPotash volatility elevated into Q4 and outlook
Potash January weekly call option implied volatility is at 71, February is at 51; compared to its 52-week range of 17 to 45, suggesting large near term price movement into the expected release of Q4 results on January 26.
13:08 EDTPOTPotash slips as analyst casts doubt on dividend
Feed and fertilizer companies Mosaic (MOS) and Potash Corp. (POT) are both trading lower after being cut to Neutral from Overweight at JPMorgan, with the research firm calling into question Potash's dividend yield in the face of weak pricing for its staple commodity products. DIVIDEND DOUBT: As lower nitrogen and potash prices pressure cash flows, Potash Corp. looks reasonably likely to cut its dividend down to $1.00 per share from $1.52 during 2016, JPMorgan analyst Jeffrey Zekauskas argued Tuesday. Zekauskas clarified, however, that the fertizilier company has "wide discretion" as to whether it might actually continue to pay its current dividend, given its $3B in monetizable equity and a healthy balance sheet that could allow additional leverage. That said, the analyst's base case is that Potash will shrink the dividend amid the industry's cyclical downturn, leading him to lower his rating on the stock to Neutral and significantly cut his 2016 earnings predictions to $1.10 from $1.45. MOSAIC: Zekauskas also lowered his rating on Mosaic to Neutral while slashing his 2016 EPS estimates to $1.85 from $2.75, citing weaker prices for potash and phosphate. Unlike Potash Corp., Mosaic looks unlikely to cut its roughly 4.6% dividend yield, the analyst said. Zekauskas maintained that both companies remain attractive for longer-term value investors, saying he plans to review their ratings after Potash potentially rethinks its dividend and Wall Street financial estimates move lower. CEO COMMENTS: Speaking at the January 21 CIBC investor conference, Potash CEO Jochen Tilk stated, "We obviously believe -- and I'm sure you concur -- that the dividend is an important part of our company. And [when] we look at the cash ability that we have in 2016, the first goal is to be prudent with our balance sheet... More specifically to the dividend, I can't talk because we have our board meetings next week... It's on the agenda. It's a big discussion. We've done a lot of work in the analysis. We've done exactly what you say. We've done all the work that leads to the visibility to our balance sheet." PRICE ACTION: Shares of Potash Corp. have fallen roughly 6.7% to $15.02, while Mosaic is down 5.7% to $22.50.
10:00 EDTPOTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
06:24 EDTPOTMosaic downgraded to Neutral from Overweight at JPMorgan
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06:21 EDTPOTPotash downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Jeffrey Zekauskas downgraded Potash (POT) to Neutral saying there is a "reasonable probability" that the company will reduce its dividend from $1.52 to $1.00 per share in 2016. The current dividend was set during a period of cyclical strength, unlike today's business landscape, Zekauskas tells investors in a research note. He cut his price target for Potash shares to $16 from $23.
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