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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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September 30, 2014
11:46 EDTADMArcher Daniels and Marubeni expands Kalama Export joint venture
Archer Daniels and Marubeni announced that they have expanded Kalama Export Company, their joint venture in the U.S. Pacific Northwest, as a result of Marubeniís contribution of its grain export elevator operations at Terminal 5 in The Port of Portland, Oregon, to Columbia Export Terminal, a subsidiary of KEC. In connection with the transaction, the parties also intend to rename KEC as Pacificor.

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