Energy logistics company SMF Energy (FUEL) pulls the plug on itself by filing for Chapter 11 bankruptcy. Shares of FUEL fell off 70.4% this year after the company slashed revenue estimates and suspended its dividend.
Shares of SMF Energy (FUEL) pop a circuit breaker after falling 47.4%. The carnage comes about as the firm slashes its estimates on revenue and earnings for the current reporting period and suspends its dividend.
A huge fire breaks out at a power plant in England burning wood pellets that threatens the structural integrity of the building itself. It's a bit of a black eye for the biomass energy industry after it claimed a significant safety margin over coal and nuclear options.
Microcap energy logistics company SMF Energy (FUEL -8.8%) takes a hit today after reporting that its CEO and chairman, Richard Gathright, will be retiring. The Board appoints Steven Goldberg to be the new CEO and President, while Larry Mulkey, a current director, will assume the role of Chairman.
Corn bulls point to weather conditions mirroring 1983, when yields also got hammered by a wet spring and cooler temperatures. Unlike 1983 however, we're exiting a strong La Nina, which means a more seasonal summer and strong production ... a must given the dangerous supply situation.
Down sharply today, corn could get interesting tomorrow as the USDA Crop Progress report shows just 13% of planting has been done vs. a 5 year average of 40%. The market had been looking for a number in the range of 14-18%. CORN -2.2%.