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Stock Market & Financial Investment News

News Breaks
November 15, 2012
10:09 EDTADM, SZYM, 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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December 18, 2014
16:43 EDTSZYMSolazyme begins restructuring plan to reduce 2015 operating expenses by $18.0M
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December 17, 2014
12:10 EDTADMMosaic acquisition of Archer Daniels fertilizer unit to spur growth in Brazil
The Mosaic Company (MOS) announced that it has completed the previously announced acquisition of Archer Daniels Midland's (ADM) fertilizer distribution business in Brazil and Paraguay for $350M. The assets purchased include $150M in working capital. The acquisition is expected to significantly accelerate Mosaic's growth plans in Brazil as well as replace a substantial amount of planned internal investment in that country. Mosaic's distribution capacity in the region is expected to increase from approximately four million tonnes per year to 6M tonnes. As a result of the acquisition, Mosaic intends to manage and report a new international distribution segment beginning in the first quarter of 2015.
December 16, 2014
06:24 EDTADMArcher Daniels price target raised to $57 from $52 at Citigroup
Citigroup raised its price target for Archer Daniels shares to $57 from $52 following the company's analyst day and sale of its underperforming cocoa business. Citi sees continued momentum in ADM's core processing and transportation businesses and keeps a Buy rating on the stock.
December 15, 2014
18:30 EDTADMArcher Daniels to sell global cocoa business to Olam for $1.3B
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18:08 EDTADMOlam to acquire Archer Daniels cocoa business for $1.3B, Bloomberg reports
December 10, 2014
13:57 EDTBGBunge targets 2017 EPS about $8.50 without deals, Bloomberg reports
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12:04 EDTADM, BGUSDA lowers 2014/15 soybean ending stock forecast
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