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AGU

Agrium Inc.

5/25/2013, 4:38 AM ET

Quote & Headlines Market Currents StockTalk

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Monday, May 13, 7:25 PM Moody's predicts "historically low" natural gas prices will remain for some time because North America's shale-drilling revolution is "deeply entrenched." If right, that's bad news for the likes of Encana (ECA) and other natural gas producers but more encouraging for Agrium (AGU) and other ammonia and methanol producers that will enjoy "lower natural gas input costs." 1 Comment [Energy]
Thursday, May 9, 9:29 AM More on Agrium's (AGU) Q1 results: Retail sales to farmers fell 13% to $2.1B. Wholesale sales of nitrogen, potash and phosphate fertilizer slipped to $1.1B from $1.2B. Expects strong demand for crop inputs in H2 despite a shortened spring season for applying fertilizer. Guides Q2 EPS of $4.60-$5.40 vs. $5.29 analyst consensus. Says it will buy back up to 5% of its stock. Shares +0.3% premarket. Comment! [Commodities, Earnings]
Thursday, May 9, 7:38 AM Agrium (AGU): Q1 EPS of $1.03 misses by $0.08. Revenue of $3.22B misses by $0.25B. (PR) Comment! [Earnings, Breaking News]
Thursday, May 9, 12:05 AM Notable earnings before Thursday’s open: AES, AGU, ALR, AM, AMRC, APA, BAM, BCE, CBB, CNSL, CTB, CVC, DF, DISH, DNDN, GLP, GTIV, IRC, KEM, KIOR, MEA, NPSP, OWW, PCP, SNE, SNSS, SPH, SRPT, TK, TNK, VICL, VNDA, WAC, WFR, WIN, WWAV, XRAY Comment! [Earnings]
Wednesday, May 8, 5:30 PM Notable earnings before Thursday’s open: AES, AGU, ALR, AM, AMRC, APA, BAM, BCE, CBB, CNSL, CTB, CVC, DF, DISH, DNDN, GLP, GTIV, IRC, KEM, KIOR, MEA, NPSP, OWW, PCP, SNE, SNSS, SPH, SRPT, TK, TNK, VICL, VNDA, WAC, WFR, WIN, WWAV, XRAY Comment! [Earnings]
Thursday, April 18, 3:44 PM The fertilizer plant explosion in Texas could prove a long-term benefit to some companies in the sector, since it could slow the building up of new nitrogen fertilizer capacity in the U.S. and provide a competitive boost to entrenched producers such as CF Industries (CF +3%), Potash (POT +0.8%) and Agrium (AGU +1.1%), Citigroup says. 11 Comments [Commodities, On the Move]
Wednesday, April 10, 11:43 AM Concerns that Jana Partners could unload its 7.5% stake in Agrium (AGU -0.4%) after losing the battle of the boardroom may weigh on the stock in the near term. The "Jana premium" investors have discounted will subside with an AGU break-up off the table, National Bank says in cutting its price target to $87. Piper Jaffray cuts AGU to Neutral, mostly on "over-arching sector concerns of downward trending corn prices." Comment! [Commodities, Quick Ideas]
Tuesday, April 9, 3:09 PM Agrium’s (AGU -2.2%) directors win re-election, fending off a dissident slate of nominees from Jana Partners. Jana accuses AGU of revoking votes for Jana’s nominees to win the proxy battle, claiming two of its five candidates would have been elected if not for maneuvering by AGU. 1 Comment [Commodities, On the Move]
Tuesday, April 9, 2:13 PM Agrium (AGU -2.3%) shares sink as the company announces a delay at its annual general meeting. Shareholders are voting on replacing select board members, which follows a proxy fight with top shareholder Jana Partners; votes will be announced in ~45 minutes. Shares had been higher after a $0.50/share dividend was declared. Comment! [Commodities, On the Move]
Monday, April 8, 10:56 AM Hedge fund Jana Partners says two of its five candidates appear to have gained enough votes to join Agrium's (AGU +1.4%) 12-member board. The 7.5% shareholder says its candidates appear to have attracted a combined 59M votes, with results of the proxy battle scheduled for release at AGU's annual general meeting tomorrow. 2 Comments [Commodities]
Friday, April 5, 11:38 AM Canada's Pension Plan Investment Board says it supports Agrium’s (AGU -0.9%) board nominees ahead of next week's shareholder meeting, in a blow to activist investor Jana Partners. "The dissident’s nominees do not represent the best alternative for optimizing long-term value creation, particularly in light of Jana’s proposed director compensation structure," CPPIB says. Comment! [Commodities]
Monday, April 1, 12:49 PM Jana Partners accuses Agrium (AGU -1.1%) of making inappropriate payments to win shareholder support, in an increasingly bitter proxy battle that comes to a head next week. "Not only does this strategy belie Agrium's claims of broad shareholder support... [it is] an affront to basic notions of good governance," the hedge fund says. AGU says the payments are appropriate and common in Canada. 1 Comment [Commodities]
Wednesday, March 27, 10:25 AM The battle for board seats at Agrium (AGU -3.2%) grew more complex overnight, as proxy advisory firm ISS endorsed two dissident nominees while Glass Lewis backed AGU’s entire slate. "A board still loudly repudiating the very changes it has begun to implement... is a board with a burgeoning credibility problem," ISS writes; "ISS simply got this one wrong," AGU responds. Comment! [Commodities, On the Move]
Wednesday, March 27, 8:19 AM Agrium (AGU) wins a key endorsement ahead of a crucial April 9 shareholder vote, as advisory firm Glass Lewis backs all 12 of AGU's board nominees over a slate nominated by dissident investor Jana Partners. The firm believes AGU has presented a more compelling case in favor of maintaining its strategy than the counter arguments put forward by Jana. 1 Comment [Commodities]
Friday, March 22, 11:17 AM The latest in the war of words between Agrium (AGU) and Jana Partners: AGU attempts to "set the record straight" on Jana's claiming credit for share price gains; dividends began rising in 2011, before Jana engaged AGU. The hedge fund "has not provided any analysis to support how its break-up plan or other ideas could create shareholder value." (Jana) Comment! [Commodities]
Tuesday, March 19, 10:56 AM Agrium (AGU) receives backing from two major shareholders in its proxy fight with Jana Partners, as Letko Brosseau concludes Jana’s method of evaluating AGU’s share performance ignores improvements since last June, and British Columbia Investment Management says AGU's board is providing effective operations oversight of the company. Comment! [Commodities]

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