New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
November 15, 2012
10:09 EDTADM, SZYM, 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
Sign up for a free trial to see the rest of the stories you've been missing.
April 1, 2015
06:21 EDTADMArcher Daniels to combat deforestation, NY Times says
Archer Daniels said it would take a number of steps to combat deforestation, including working with environmental experts to assess the impact of its supply chains on forests and other areas, according to The New York Times. Reference Link
March 30, 2015
07:49 EDTADMArcher Daniels to acquire AOR N.V., terms not disclosed
Archer Daniels Midland Company has reached an agreement to purchase AOR N.V., a privately held oil bottling company based in Antwerp, Belgium. AOR is a leader in the bottling and distribution of edible oils in Europe, with customers across the continent and a substantial export business. Its brands include Oilio and Coroli. The proposed transaction is contingent on regulatory approvals.
07:39 EDTADM, BGRecord soy plantings seen weighing on prices, WSJ says
Analysts expect soybean acreage to rise 3% from last year to 85.9M acres and corn to fall 2% to 88.7M acres, according to a survey by The Wall Street Journal taken ahead of a U.S. Department of Agriculture forecast due Tuesday. Many are betting that further soy production increases will trigger steep declines in futures, the report noted. Publicly traded companies in the agriculture and fertilizers space include Agrium (AGU), Andersons (ANDE), Archer Daniels (ADM), Bunge (BG), CF Industries (CF), Compass Minerals (CMP), DuPont (DD), Intrepid Potash (IPI), Monsanto (MON), Mosaic (MOS), Potash (POT) and Syngenta (SYT). Reference Link
March 27, 2015
10:03 EDTBGOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
06:32 EDTBGBunge upgraded to Buy from Neutral at Goldman
Subscribe for More Information
06:26 EDTADMEU regulators extend review of Cargill, ADM deal, Reuters says
EU regulators extended the deadline for their probe into Cargill's pending takeover of Archer Daniels Midland's (ADM) chocolate business to July 23 from July 8, according to Reuters. The extension was made at the companies' request, the news service added. Reference Link

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use