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Stock Market & Financial Investment News

News Breaks
July 23, 2014
13:51 EDTMOS, POTEarnings 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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November 24, 2014
16:34 EDTPOT, MOSOn 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 EDTMOS, POTUralkali 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 19, 2014
10:00 EDTPOT, MOSOn 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
07:39 EDTMOSMosaic upgraded to Positive at Susquehanna
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06:20 EDTMOSMosaic upgraded to Positive from Neutral at Susquehanna
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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
10:41 EDTPOT, MOSFertilizer 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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10:15 EDTMOSHigh option volume stocks
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