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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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April 15, 2014
16:22 EDTADMOn The Fly: Closing Wrap
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13:19 EDTADMArcher Daniels announces $350M unit sale to Mosaic, other actions
Archer Daniels Midland (ADM) announced three actions in the company’s ongoing portfolio management. ADM has signed an agreement to sell its fertilizer business in Brazil and Paraguay to The Mosaic Company (MOS) for $350M. The transaction consists primarily of five ADM-owned blending facilities in Brazil and Paraguay. The purchase price includes $150M in working capital. As part of the transaction, ADM will purchase fertilizer from Mosaic after the closing and will continue to supply certain fertilizer customers in Brazil and Paraguay. ADM also announced it will pursue the sale of its chocolate business, while retaining the majority of its cocoa press operations. The company has engaged advisers to facilitate the sale process. Finally, ADM announced it will acquire the remaining 20% minority stake of Alfred C. Toepfer International for EUR83M, representing about 1.1x net book value. The proposed transaction, which is occurring through the exercise of a put agreement by Union InVivo, will be subject to customary regulatory approvals. Since 2002, ADM has owned 80% of Toepfer. InVivo will remain a strategic business partner for ADM in Europe.
12:31 EDTADMMosaic to acquire Archer Daniels' Brazil, Paraguay fertilizer units
Mosaic (MOS) signed definitive agreements with Archer Daniels Midland (ADM) to acquire its fertilizer distribution business in Brazil and Paraguay for $350M. The purchase price assumes the delivery of $150M in working capital at closing. This acquisition is expected to accelerate Mosaic's previously announced growth plans in Brazil as well as replace planned internal investments in that country. Under the terms of the agreement, Mosaic would acquire four blending and warehousing facilities in Brazil, one in Paraguay and additional warehousing and logistics service capabilities. The acquisition of ADM's fertilizer distribution business would increase Mosaic's annual distribution in the region from approximately 4M metric tonnes to about 6M metric tonnes of crop nutrients. The parties have also negotiated the terms of five-year fertilizer supply agreements providing for Mosaic to supply ADM's fertilizer needs in Brazil and Paraguay. Mosaic will fund the acquisition with cash from operations. The transaction is not expected to impact Mosaic's shareholder distribution plans. The proposed sale will be contingent on customary regulatory approvals.
April 9, 2014
12:04 EDTADM, BGU.S. corn exports projected to increase 125M bushels
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April 4, 2014
13:27 EDTSZYMPassport Capital reports 6.2% passive stake in Solazyme
07:51 EDTADMArcher Daniels price target raised to $50 from $45 at Citigroup
Citigroup raised its price target for Archer Daniels shares to $50 after meeting with management and keeps a Buy rating on the stock. Citi said it has increased conviction that ADM's main businesses are building positive momentum.

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