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Stock Market & Financial Investment News

News Breaks
November 15, 2012
10:09 EDTSZYM, ADM, BGSolazyme surges after announcing new partnerships
Solazyme (SZYM) is rallying after the company yesterday after the market closed announced that it had launched a new partnership with Archer Daniels Midland (ADM), and said that it would expand its joint venture with Brazilian agribusiness company Bunge Limited (BG). Under Solazyme's deal with Archer Daniels Midland, the two companies will produce algal oils in Archer's advanced fermentation plant. Solazyme hopes to produce 20,000 metric tons of oil at the facility in 2014, and expand to 100,000 metric tons in subsequent years, the company said. Meanwhile, Solazyme and Bunge agreed to expand their joint oil production to 300,000 metric tons from their previous target of 100,000 metric tons. The companies have also decided to produce additional types of oils, including edible oils, that will be sold in Brazil. In separate news, Solazyme reported a lower than expected third quarter earnings per share loss, but its revenue fell shy of expectations. In a note to investors earlier today, Jefferies analyst Laurence Alexander wrote that Solazyme has multiple catalysts, including the deals with Bunge and Archer Daniels, and the launch of additional partnerships in North and South America. The analyst raised his price target on the stock to $23 from $22 while maintaining a Buy rating. Conversely, Piper Jaffray analyst Mike Ritzenthaler lowered his price target on the stock to $5 from $9. Noting that Solzayme reduced its fiscal 2012 revenue guidance, Ritzenthaler questions whether there will be sufficient demand for the company's oils as it expands its capacity. The analyst maintained an Underweight rating on the shares, which jumped $1.21, or 17.07%, to $8.30 in early trading.
News For SZYM;ADM;BG From The Last 14 Days
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October 16, 2014
14:13 EDTADM, BGU.S farmers use less fertilizer this autumn as crop prices fade, Reuters says
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09:56 EDTSZYMSolazyme mentioned cautiously by TheStreetSweeper
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October 14, 2014
17:06 EDTSZYMBraemar Energy Ventures reports 4.99% passive stake in Solazyme
October 13, 2014
12:31 EDTADMArcher Daniels to acquire Specialty Commodities for $170M
Archer Daniels Midland Company, or ADM, announced an agreement to purchase Specialty Commodities Inc., or SCI, a leading originator, processor and distributor of healthy ingredients, including nuts, fruits, seeds, legumes and ancient grains, for $170M, subject to post-closing adjustments. When the transaction closes, SCI will become part of ADMís new WILD Flavors and Specialty Ingredients business unit. ADM anticipates closing the transaction, which is subject to regulatory approval, in the coming weeks.
October 10, 2014
12:05 EDTADM, BGUSDA raises U.S. corn production estimate to 14.475B
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