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Stock Market & Financial Investment News

News Breaks
November 15, 2012
10:09 EDTBG, ADM, SZYMSolazyme 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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May 28, 2015
07:29 EDTBGCitigroup to hold a conference
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May 26, 2015
20:51 EDTBGCitigroup to hold a conference
Global Consumer Conference is being held in New York on May 27-28.
07:07 EDTADMArcher Daniels receives inquiries about egg substitutes, Reuters reports
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May 25, 2015
19:41 EDTADMArcher Daniels shrinks sugar trading business, Reuters says
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May 21, 2015
12:41 EDTADMArcher Daniels announces expansion of Argentinian export facilities
Archer Daniels announced that it is investing in substantial improvements and expansions to its port facilities in Puerto San Martin in the Argentine state of Santa Fe, enhancing the company’s capability to export grain and other agricultural products from the region. The improvements, which will include the construction of a new berth for barge discharge and the addition of storage capacity, are expected to be complete by early 2016. The current export facilities in Puerto San Martin have an annual throughput of approximately 2M metric tons. The improvements will increase annual capacity by 25%, to 2.5M tons, allowing ADM to reduce its reliance on third-party facilities, which today are limiting the company’s ability to export increasing volumes from Paraguay.
12:33 EDTADMArcher Daniels can grow medium term earnings to $4.50, CEO Luciano says
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07:14 EDTADM, BGBMO Capital to hold a conference
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May 20, 2015
10:03 EDTBGBunge repeats 2017 EPS target of about $8.50
Expects to maintain dividend increases in line with historical average. Sees about $200M EBIT run rate improvement by 2017 in Agribusiness, $125M EBIT run rate improvement in Food & Ingredients by 2017. Comments from slides that will be presented at the annual general meeting.
May 19, 2015
16:44 EDTBGBunge announces new $500M share repurchase plan, raises quarterly dividend
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16:42 EDTBGBunge announces new $500M share repurchase plan, raises dividend
May 17, 2015
19:06 EDTADMArcher Daniels acquires Meiweiyuan Biotechnology
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May 14, 2015
08:19 EDTADMSenate Agriculture Committee to hold a hearing
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