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News Breaks | | | | November 15, 2012 | | 10:09 EDT |  | SZYM, ADM, BG | Solazyme 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. | |
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News For SZYM;ADM;BG From The Last 14 Days Check below for free stories on SZYM;ADM;BG the last two weeks. |
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| May 17, 2013 | | 09:05 EDT | | SZYM | Keating Capital announces exit from Solazyme stake
Keating Capital (KIPO) announced that it sold the remaining 147,927 shares it held in Solazyme (SYZM) during May 2013. The sale generated net proceeds of $1.55M, or $10.51 per share, and a net realized gain of $49,820, or approximately 0.5c for each Keating Capital share outstanding. | | | May 15, 2013 | | 16:55 EDT | | ADM | Berkshire Hathaway gives quarterly update on stakes
 Subscribe for More Information | | | 14:57 EDT | | ADM | Archer Daniels says added $200M cost savings expected by end 2014
Operational improvements are expected to enable Archer Daniels Midland to realize $200M in additional cost savings by the end of 2014, and to free up an additional $1B in cash by the end of 2013, the company said in advance of its presentation at the BMO Capital Markets 2013 Farm to Market Conference. The additional $200M is expected to come from reducing energy and water use; implementing a companywide maintenance-management system; standardizing processes, procedures and inventory controls; and leveraging the company’s scale in the area of procurement. The additional $1B in working cash improvements would bring the total the company has unlocked since mid-2012 to $2B, through better inventory-management; monetization of underutilized assets as part of an ongoing portfolio management effort; extracting cash from various joint ventures; and improved processes for managing payables and receivables. | | | 07:31 EDT |  | ADM, BG | BMO Capital to host a conference
Subscribe for More Information | | | May 13, 2013 | | 12:56 EDT |  | SZYM | Solazyme May and June volatility elevated on sharp rally
Solazyme May call option implied volatility is at 64, June is at 63, September is at 45, December is at 40; compared to its 26-week average of 46 according to Track Data, suggesting large near term price movement. | | | May 10, 2013 | | 17:07 EDT |  | ADM | Archer Daniels files automatic mixed securities shelf
Subscribe for More Information | | | May 8, 2013 | | 16:20 EDT |  | SZYM | Solazyme reports Q1 adjusted EPS (35c), consensus (43c)
Subscribe for More Information | | | 16:16 EDT | | SZYM | Solazyme, AkzoNobel enter agreement spanning surfactants and coatings market
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