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Stock Market & Financial Investment News

News Breaks
July 23, 2014
13:51 EDTPOT, MOSEarnings Preview: Potash sees Q2 earnings per share 40c-45c
Potash Corporation of Saskatchewan (POT) is scheduled to report second quarter earnings before the market open on Thursday, July 24, with a conference call scheduled for 1:00 pm ET. Potash is an integrated fertilizer and feed products company. EXPECTATIONS: Analysts are looking for earnings per share of 46c on revenue of $1.68B, according to First Call. The consensus range for EPS is 42c-50c on revenue of $1.56B-$1.79B. LAST QUARTER: Potash reported first quarter EPS of 40c against estimates for 35c, on revenue of $1.68B against estimates for $1.49B. On its Q1 earnings report, the company forecast Q2 EPS of 40c-45c, compared to consensus of 49c. FY14 EPS was seen at $1.50-$1.80, compared to consensus of $1.65. Potash said, "Given a slightly improved potash pricing and demand outlook, we have increased our annual estimate for potash gross margin to $1.1-$1.3 billion and sales volumes to 8.3-8.7 million tonnes. Our estimates include the benefit of our Canpotex allocation run at Allan, which is nearing completion. With results to this point surpassing our initial expectations, we anticipate our Canpotex entitlement will exceed 53 percent for the second half of 2014...In nitrogen, recent pricing strength has improved the near-term outlook. We anticipate typical seasonal trends will result in slightly weaker margins through the second half of 2014, although our higher sales volumes expectations should partially offset this impact. For the full year, we anticipate total gross margin will remain historically high but trail 2013's total. In phosphate, we expect prices for all products to be below those of 2013." STREET RESEARCH: Street research has been cautious in the weeks leading up to Potash’s Q2 earnings report. On July 9, JP Morgan downgraded Potash to Neutral from Overweight citing valuation with shares near the firm's unchanged price target of $38. JPMorgan preferred Mosaic (MOS) at current valuation levels. The firm believed falling crop prices in anticipation of high domestic corn and soybean supplies could weigh on Potash shares. On May 21, Raymond James downgraded Potash to Market Perform from Outperform due to valuation. PRICE ACTION: Potash shares have made modest gains since the company's Q1 report, but are down over 5% over the past twelve months. In afternoon trading ahead of tomorrow's Q2 report, Potash’s shares are up 0.5%.
News For POT;MOS From The Last 14 Days
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September 17, 2014
12:54 EDTPOTPotash would like to grow dividend over time
Comments made at the Credit Suisse Basic Materials Conference.
September 16, 2014
17:27 EDTMOS, POTUralkali has no plans to restore Belarus potash arrangement, WSJ says
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September 12, 2014
06:27 EDTPOTPotash extracting last miners trapped by mine fire, WSJ reports
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September 11, 2014
12:03 EDTPOT, MOSUSDA raises U.S. corn yield forecast to record
In its monthly World Agricultural Supply and Demand Estimates, or WASDE, report, the U.S. Department of Agriculture's corn yield forecast is raised 4.3 bushels per acre to a record 171.7 bushels. Corn production for 2014/15 is forecast 363 million bushels higher at a record 14,395 million bushels. Total 2014/15 corn usage is projected at 13,605 million bushels, up 170 million from last month. Although a record, usage is expected up just 5 million bushels from 2013/14 as export prospects remain constrained by large foreign carryin stocks, the USDA wrote. Publicly traded companies in the agriculture space include Agrium (AGU), Andersons (ANDE), Archer Daniels (ADM), Bunge (BG), CF Industries (CF), Compass Minerals (CMP), DuPont (DD), Intrepid Potash (IPI), Monsanto (MON), Mosaic (MOS), Potash (POT) and Syngenta (SYT).
September 10, 2014
09:51 EDTPOTPotash September calls active
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September 9, 2014
10:10 EDTMOS, POTOn the Fly: Analyst Downgrade Summary
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08:52 EDTMOS, POTFertilizer estimates lowered at Cowen
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08:20 EDTMOSMosaic downgraded at RBC Capital
As noted earlier, RBC Capital downgraded Mosaic to Sector Perform from Outperform. The firm downgraded the stock based on higher phosphate input costs and concerns about potash market fundamentals. Target to $51 from $55.
07:51 EDTPOTPotash downgraded to Underperform at Cowen
As previously reported, Cowen downgraded Potash to Underperform from Market Perform. The analyst sees an extended period of potash pricing pressure and significant multiple compression risk going forward. Price target lowered to $29 from $32.
06:34 EDTMOSMosaic downgraded to Sector Perform from Outperform at RBC Capital
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September 4, 2014
11:49 EDTMOSMosaic initiated with a Buy at Societe Generale
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11:49 EDTPOTPotash initiated with a Hold at Societe Generale
Target $37.

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