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Stock Market & Financial Investment News

News Breaks
November 15, 2012
10:09 EDTSZYM, BG, ADMSolazyme 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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March 2, 2015
18:04 EDTSZYMSolazyme files to delay Form 10-K
The company expects to file the subject report on Form 10-K for the fiscal year ended December 31, 2014 on or before the fifteenth calendar day following the due date. The Form 10-K could not be filed by the date required due to unanticipated delays in assembling all information required to complete the audited financial statements that are required to be included in the Form 10-K.
February 26, 2015
16:23 EDTSZYMSolazyme reports Q4 EPS (57c), consensus (47c)
Reports Q4 revenue $14.5M, consensus $17.7M.
February 25, 2015
05:11 EDTSZYMSolazyme receives FDA GRAS No Questions Letter for high oleic algae oil
Solazyme announced that the FDA has issued a favorable response to Solazyme’s notification which concludes that high-oleic algae oil is Generally Recognized as Safe as an ingredient in food products under the intended conditions of use. This No Questions letter will further pave the way for mainstream adoption of superior quality oleic algae oil with unprecedented functional, performance and nutritional benefits, enabling the creation of new products that meet consumer demand for healthy, sustainable ingredients. Solazyme has also received FDA No Questions letters for the whole food ingredient products currently offered within the AlgaVia portfolio, including Whole Algal Protein and Whole Algal Flour.
February 23, 2015
11:29 EDTADMEU investigates Cargill's proposed acquisition of ADM's chocolate business
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February 19, 2015
14:34 EDTBGBunge repeats 2017 EPS target about $8.50
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February 17, 2015
07:15 EDTADM, BGConsumer Analyst Group of New York (CAGNY) to hold a conference
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