Oct. 22, 2014, 11:59 AM
- Norwegian fertilizer producer Yara (OTCPK:YARIY -1.6%) reports a 9% Y/Y rise in net profit on rising revenue, and says it will invest 2.25B kroner ($343M) to boost production capacity at the Porsgrunn plant in Norway.
- Yara's Q3 net profit totaled 1.71B kroner vs. 1.57B in the year-ago quarter but short of analyst consensus estimate of 2.24B kroner.
- Q3 revenue totaled 24.1B kroner, above 20.6B a year ago and expectations this quarter for 21.6B; EBIT was 2.76B, up from 2.39B a year ago but below expectations of 3.16B.
Oct. 16, 2014, 6:35 PM
- CF Industries (NYSE:CF) and Yara International (OTCPK:YARIY) have terminated merger talks that would have created the world's largest maker of nitrogen-based crop nutrients.
- “Although we identified very significant operational and structural synergies, we were ultimately unable to agree on terms of a transaction that met the requirements of all our respective shareholders,” CF says.
- CF and Yara said Sept. 23 that talks toward a “merger of equals” were at an early stage.
- CF -3.1% AH.
Oct. 2, 2014, 2:59 PM
- Fertilizer producers are mostly lower after Agrium (AGU -1.9%) announced weak guidance for H2 of its FY 2014: POT -2%, MOS -0.9%, OTCPK:YARIY -2.8%, IPI -2.3%, RNF -1.2%, but CF +2.4%.
- Canaccord and Piper Jaffray downwardly revised their 12-month price targets for the stock, by a respective 1.9% to $102 while reiterating a Buy rating and by 4.2% to $92 while maintaining a Neutral rating; however, BMO and RBC each reiterated their Outperform ratings on the stock with respective target prices of $99 and $115.
- Jim Cramer thinks AGU's woes could reverberate throughout the ag sector, at least in the near-term, with selling possibly spread to the likes of Monsanto (MON -0.4%), Syngenta (SYT +0.1%), Deere (DE +0.1%) and Agco (AGCO +1%).
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