Robert Wagner • 21 Comments
Jun. 4, 2014, 12:57 PM
- Syntroleum (SYNM -3.1%) shares are falling after the synthetic fuels producer disclosed plans late yesterday to voluntarily delist its stock from the Nasdaq market following the market close on June 6.
- SYNM said the decision comes after it recently completed the sale of substantially all of its assets to the Renewable Energy Group (REGI +0.2%), receiving ~3.5M shares of REGI stock in the exchange.
May 21, 2014, 8:44 AM
- Renewable Energy (REGI) +2.2% premarket after agreeing to acquire Tyson Foods' (TSN) 50% ownership stake in Dynamic Fuels for $18M and up to $35M in future payments tied to production volume.
- The deal would give REGI full ownership of Dynamic Fuels and its 75M gal/year nameplate capacity renewable diesel biorefinery in Geismar, La., which was the first large scale renewable diesel biorefinery built in the U.S.
- The deal is contingent upon the closing of REGI's 2013 Syntroleum (SYNM) acquisition; TSN and SYNM formed Dynamic Fuels in 2007 as a 50/50 joint venture.
May 7, 2014, 11:36 AM
- Amyris (AMRS -7.1%) falls sharply for a second straight day after StreetSweeper writes that the maker of renewable fuel compounds faces rough times ahead, citing "onerous deals, SEC filings and extreme insider selling."
- The pessimistic view comes ahead of Thursday's earnings report after the company reported worse-than-expected earnings numbers over each of the past five quarters.
- Combined with disappointing Q1 earnings from Renewable Energy Group (REGI -5.3%), several biofuel names are trading lower: CDTI -8.5%, SZYM -7.3%, KIOR -6.4%, SYNM -4.3%, BIOF -2%, FF -1.5%.
May 6, 2014, 6:43 PM
- Syntroleum (SYNM): Q1 EPS of -$0.65 .
Apr. 17, 2014, 12:47 PM
Mar. 31, 2014, 3:59 PM
- Shares of BioFuel Energy (BIOF +132.4%) more than double after the company received a $275M buyout proposal late Friday from Greenlight Capital and James Brickman of JBGL Funds for the 64.5% of the company they don't already own.
- Greenlight's David Einhorn and Brickman said the proposal provides an opportunity to acquire an interest in a business with long-term equity potential and an attractive portfolio of assets.
- BIOF said its board will establish a special committee of independent directors to evaluate the transaction, as well as alternatives for the company.
- The move is providing a lift for most other alternative energy companies: KIOR +39.7%, GPRE +3.7%, REGI +4.4%, SYNM +5.9%, REX +0.1%, PEIX -1.9%, GEVO flat.
Mar. 13, 2014, 10:47 PM
- Syntroleum Corporation (SYNM): Q4 EPS of -$0.60
- Revenue of $0.27M (-75.9% Y/Y)
Dec. 18, 2013, 12:45 PM
Dec. 18, 2013, 9:10 AM
Dec. 17, 2013, 4:45 PM
- Renewable Energy (REGI) agrees to acquire Syntroleum (SYNM) for 3.796M shares of REGI, which would result in SYNM shareholders receiving 0.3809 shares of REGI common stock for each outstanding share of SYNM common stock.
- SYNM and its 50%-owned subsidiary Dynamic Fuels offer an attractive entry path for REGI into renewable diesel, REGI CEO Daniel Oh says.
- SYNM +50%, REGI +4% AH.
Dec. 11, 2013, 3:58 PM
- Shares of ethanol makers slide as an EPA official tells a congressional panel it’s not feasible for gasoline refiners to use as much ethanol next year as had been mandated, which is why the agency proposed easing the requirement.
- Producers of ethanol, biodiesel and advanced biofuels have criticized the EPA’s proposal, saying it undercuts a growing, domestic industry.
- ADM -1.5%, BIOF -3%, GPRE -3.8%, REGI -4.8%, SYNM -5.7%, PEIX -9.6%, KIOR -12.8%.
Nov. 16, 2013, 8:25 AM
- Ethanol producers vow to fight back against the EPA's proposal to lower the annual requirement for the biofuel used in gasoline.
- Archer Daniels Midland (ADM) complained it had invested in renewable fuel projects "on the basis of firm legislative commitments" and across two presidential administrations.
- Green Plains (GPRE) CEO Todd Becker calls the prospect of the U.S. turning away from a cheap and domestically produced fuel source "disgraceful."
- Although "disappointed," Renewable Energy (REGI) CEO Daniel Oh says the company's scale would "allow us to continue to succeed."
- "While we still think a large U.S. corn crop in 2013 will benefit other ADM businesses, we see the renewable fuel proposal as adding risk to the shares," says S&P Capital IQ's Tom Graves, who downgraded ADM shares to Sell from Hold after the announcement.
- Also: PEIX, GEVO, BIOF, SZYM, SYNM, AMRS, KIOR.
- ETF: CORN.
Nov. 15, 2013, 10:47 AM
- Obama administration officials, under pressure from producers of advanced biofuels, reportedly have told industry reps that they’re considering raising the quota for their product next year above what was contained in an August draft plan.
- EPA officials are said to have indicated plans to offer a range for the mandate that would allow it to increase from the 2.21B gallons set in the leaked draft plan, but the range could still leave the final quota below the 3.75B gallons set by the 2007 legislation establishing the program.
- ADM, BIOF, PEIX, GPRE, REGI, SZYM, SYNM, GEVO, AMRS, KIOR.
Aug. 8, 2013, 3:11 PM
- The most important news on Syntroleum's (SYNM -0.9%) Q2 results actually came from remarks by Tyson Foods (TSN) CEO Donnie Smith that the Dynamic Fuels plant hasn't restarted as planned because SYNM is in discussions to sell its 50% share of the plant, Robert Wagner writes.
- Since SYNM is engaged in multiple patent disputes with Neste Oil (NTOIF.PK), Wagner sees it as the most likely buyer; Neste may have hinted of the planned purchase when it said it was making progress toward gaining access to the U.S. market.
Aug. 6, 2013, 12:59 PM
- The EPA formally tells refiners to blend 16.55B gallons of renewable fuels to blend into the U.S. gasoline supply this year, and pares some targets the oil industry had criticized as too ambitious.
- Refiners must blend 1.28B gal. of biomass-based diesel and 2.75B gal. of advanced biofuels this year, along with 6M gal. of cellulosic biofuels made from non-edible plant parts - far less than the 14M target the EPA proposed in February but short of the oil industry’s push for the category to be zeroed out completely.
- After some initial reaction, most related stocks have returned to pre-announcement levels: PBF +8.6%, VLO +3.3%, HFC +2%, BIOF +1.8%, PEIX -4%, GPRE -3.2%, REX -6.6%, SYNM -4.3%, REGI -0.3%.
Jul. 26, 2013, 12:49 PM
Syntroleum (SYNM -0.8%) comes off a trading halt which followed news it has received unsolicited offers for a potential sale and has hired Piper Jaffray to evaluate interest. Given the favorable commercial environment, SYNM says now is an appropriate time to broadly review its strategic alternatives. Shares had been -9.5% when halted.| Jul. 26, 2013, 12:49 PM | 3 Comments