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Stock Market & Financial Investment News

News Breaks
April 15, 2014
11:44 EDTBHP, POTPotash Corp. advances after report says BHP could make new bid
Potash Corp. of Saskatchewan (POT) shares are higher this morning following a report that indicated BHP Billiton (BHP) may make another bid for the company. BHP Billiton, a diversified natural resources company, previously tried and failed to buy Potash Corp., an integrated fertilizer and related products maker, in 2010, but failed the government's "net benefit test" and the Saskatchewan government opposed a deal. WHAT'S NEW: The Globe and Mail this morning reported that BHP could consider making a new bid for Potash Corp. The Canadian publication notes that a deal is "not a sure thing," but adds that owning Potash Corp. would be the best way for BHP Billiton to get into the potash business. The Globe and Mail said the value of the potential deal could be "more like $40B," though the "real" cost would be less. BHP has not expressed interest in Potash's operations in phosphate and nitrogen, according to the report, which speculates that BHP could possibly look to sell off those operations and could also look to mothball Potash Corp's $15B Jansen project in Saskatchewan. WHAT'S NOTABLE: The Fly notes that Jochen Tilk will become president and CEO of Potash Corp. on July 1. ANALYST REACTION: Miller Tabak upgraded shares of Potash to Neutral from Sell following the Globe and Mail report. PRICE ACTION: Potash Corp. shares trading in New York were up 60c, or 1.77%, to $34.49 in late-morning trading. Meanwhile, BHP Billiton shares trading in New York were down $1.35, or 1.9%, to $69.89.
News For POT;BHP From The Last 14 Days
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November 24, 2014
16:34 EDTPOTOn The Fly: Closing Wrap
Stocks on Wall Street opened in quiet fashion and trading remained that way throughout the day. The Dow and S&P moved in a narrow range and hugged the flat line, while the Nasdaq drifted steadily higher and added nearly 1% by the close of trade. ECONOMIC EVENTS: In the U.S., the Chicago Fed national activity index fell to 0.14 in October, versus expectations for a reading of 0.33. Markit's services PMI fell to 56.3 in the flash reading for November, versus expectations for a slight increase to 57.3 from its prior reading of 57.1. The Dallas Fed manufacturing index was steady at 10.5 in November, versus expectations for a 9.0 reading. Overseas, the euro area’s largest economy, Germany, saw a business climate index advance to 104.7 in November from 103.2 in October, beating economists' prediction for a decline to a reading of 103. COMPANY NEWS: Apple (AAPL) had a role in the Nasdaq's outperformance, as the tech giant climbed after a number of research firms, including Susquehanna, Cantor and KGI Research, were upbeat on the outlook for the company's performance during the holiday season. The iPhone maker's stock rose $2.15, or 1.85%, to close at $118.62 to close just below the 52-week high of $118.77 it hit late in the session... United Technologies (UTX) fell $1.51, or 1.37%, to $108.79 after the Dow member announced that Louis Chenevert had retired as Chairman and CEO, effective immediately. The company reaffirmed its expectations for 2014 earnings per share and sales, but provided little information regarding the abrupt exit of the executive. MAJOR MOVERS: Among the notable gainers was Prosensa (RNA), which surged $7.16, or 62.59%, to $18.60 after the small drugmaker agreed to be acquired by larger BioMarin (BMRN). After the deal announcement BioMarin shares also rose $2.11, or 2.46%, to $87.94, while Sarepta Therapeutics (SRPT), which is working on a Duchenne muscular dystrophy treatment to rival Prosensa's, advanced 88c, or 5.59%, to $16.61. Also higher was Cimatron (CIMT), which jumped $2.57, or 42.27%, to $8.65 after 3D Systems (DDD) agreed to buy the company for approximately $97M, or $8.97 per share, in cash. Among the noteworthy losers was Ring Energy (REI), which fell $1.28, or 9.54%, to $12.14 after Canaccord downgraded the stock to Hold from Buy, citing the the recent decline in crude oil prices and the potential need for the company to raise capital. Also lower were shares of Potash (POT), which fell $2.23, or 6.09%, to $34.40, and Mosaic (MOS), which slid $1.75, or 3.71%, to $45.46 after Russia's Uralkali, the world's largest potash producer, was reported to be set to start repair work at part of its damaged mine. INDEXES: The Dow added 7.84, or 0.04%, to 17,817.90, the Nasdaq rose 41.92, or 0.89%, to 4,754.89, and the S&P 500 gained 5.91, or 0.29%, to 2,069.41.
12:01 EDTPOTUralkali begins to prepare for repair of damaged potash mine, Reuters says
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10:05 EDTPOTPotash gaps down, falls, levels to watch
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09:39 EDTPOTActive equity options trading
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November 23, 2014
17:38 EDTBHPBHP Billiton targets $4B of annualized productivity gains by 2017 end
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17:28 EDTBHPBHP Billiton says on track to complete demerger in 1H15
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November 20, 2014
06:01 EDTBHPBHP Chairman Nasser says demerger 'good' for investors, Daily Telegraph reports
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November 19, 2014
10:00 EDTPOTOn The Fly: Analyst Upgrade Summary
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07:48 EDTPOTPotash upgraded at Raymond James
As previously reported, Raymond James upgraded Potash to Outperform from Market Perform. The firm believes the supply outage at Uralkali will result in a tighter market and benefit western producers. Price target raised to $40 from $38.50.
07:46 EDTPOTPotash upgraded to Outperform from Market Perform at Raymond James
05:51 EDTPOTStocks with implied volatility movement; AGN POT
Stocks with implied volatility movement; Allergan (AGN) 21, Potash (POT) 22 according to iVolatility.
November 18, 2014
13:28 EDTBHPIron ore, steel stocks lower after iron ore prices, China home prices decline
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10:41 EDTPOTFertilizer names rise after Uralkali suspends work at mine
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10:16 EDTPOTPotash continues recent recovery, levels to watch
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November 13, 2014
12:26 EDTPOTKoch Industries reports new Colfax stake in quarterly filing
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November 12, 2014
05:59 EDTBHPBHP Billiton says Nickel West to remain in portfolio as non-core asset
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