Market Currents

• Thursday, October 22, 2009

• 06:15 AM Potash (POT): Q3 EPS of $0.82 beats by $0.01. Revenue of $1.1B (-64.1%) in-line. Sees Q4 EPS of $0.65-0.85 vs. consensus of $1.18. "The uncertainty among fertilizer buyers has lasted far longer than we anticipated, but cannot continue indefinitely." Shares -2.9% premarket. (PR) Comment!
• 00:05 AM Notable pre-market earnings: AUO, BDK, BG, BMY, CBE, CELG, CHKP, CIT, CNX, DAL, DHR, DO, DOW, EMC, ERIC, ESV, ETR, FITB, GR, HBAN, HOT, HSY, JBLU, JNS, KMB, LCC, LH, LM, MCD, MJN, MMM, MRK, NCR, NIHD, NUE, NVS, NYT, ORI, OXY, PDS, PLD, PM, PNC, POT, R, RAI, RGC, RS, RTN, RX, SGP, STI, SY, T, TASR, TIN, TMO, TRA, TRV, UNP, UPS, XRX, ZMH Comment!

• Tuesday, October 20, 2009

• 10:37 AM Goldman says its checks indicate reports that the Belarusian Potash authority was in final-stage negotiations of its 2010 contract with China were taken out of context, and that talks aren't as far along as thought. Firm now expects negotiations to lead to prices in the low $300/ton range, well below Street expectations. POT -1%. AGU -1.5%. 3 Comments

• Monday, October 19, 2009

• 09:11 AM Potash (POT) would be a sensible addition to BHP Billiton's (BHP) portfolio, Bank of America Merrill Lynch says, noting a 30% premium to POT's share price could add 13% to BHP's earnings early on. "BHP did not use its balance sheet to its advantage during the downturn," firm says. "Negative sentiment regarding Potash gives BHP a second chance at acquiring assets at a cycle low." POT +3% premarket. Comment!

• Monday, September 21, 2009

• 09:00 AM Premarket gainers: PER +66%.
  Losers: AIB -7%. IRE -6%. RAD -6%. MT -5%. S -5%. POT -5%. AUY -4%. SLW -4%. HL -4%. Q -4%. MOS -4%. AU -4%. Comment!

• Friday, September 18, 2009

• 18:17 PM Potash Corp. (POT) slashes its full-year earnings guidance, because of low sales volume, to $3.25-3.75 per share from $4-5/share, vs. a consensus of $4.16. Shares -3.6% AH. Comment!

• Friday, August 28, 2009

• 09:46 AM Fertilizer stocks under pressure after UBS downgrades Potash (POT -2.5%) and Mosaic (MOS -2.3%) to Neutral on the heels of a Department of Agriculture forecast that noted U.S. farm profits are going to fall by 38% this year. Comment!

• Thursday, July 23, 2009

• 06:53 AM Potash Corp. (POT): Q2 EPS of $0.62 misses by $0.07. Revenue of $856M (-67%) vs. $981M. Issues downside Q3 EPS guidance of $0.80-1.20 vs. $1.56 consensus. Issues downside FY '09 EPS guidance of $4.00-5.00 vs. $5.24 consensus. Shares -2.3% premarket. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: ALXN, BG, BLL, BMY, CBE, CELG, CLS, CME, DHR, DO, ECA, EMC, ESI, ESV, F, FITB, FLIR, GR, HBAN, HOT, HSY, IGT, JBLU, KMB, LCC, LLL, MMM, NCR, NEM, NIHD, NOC, NUE, NYT, OMC, ORI, OXY, PLD, PM, PNC, POT, R, RAI, RS, RTN, RX, SIAL, SPNC, T, TIN, TMO, TRA, UNP, UPS, WYE, XRX, ZMH Comment!

• Friday, June 26, 2009

• 09:00 AM Premarket gainers: PALM +11%. TIBX +7%. SPPI +5%.
  Losers: BPZ -8%. JAZZ -5%. AIB -5%. SNY -5%. UBS -4%. POT -4%. MOS -4%. Comment!

• Wednesday, June 24, 2009

• 17:51 PM The recent selloff in Potash (POT +1.5%) is wildly overdone, Barron's says. Dramatic industry-wide production cuts could work in POT's favor because of its key investments in China and other developing markets, which are likely to increase fertilizer use even as developed nations cut back. Comment!

• Wednesday, June 17, 2009

• 09:38 AM K+S, Europe's largest potash producer, expects “further significant reduction in revenues and earnings” this year, sending potash stocks down: POT -7.0%, MOS -7.5%, IPI -7.3%, CF -3.7%, AGU -4.7%, SQM -3.1%, SYT -1.8%. Comment!
• 09:00 AM Premarket gainers: SVNT +30%. AGEN +15%. ALVR +8%. OCNF +5%.
  Losers: CTIC -13%. ETFC -13%. AIB -9%. RTP -6%. POT -5%. ING -4%. MOS -4%. SAY -4%. Comment!

• Wednesday, May 27, 2009

• 09:05 AM Monsanto (MON): Sees Q3 EPS of $1.15 vs. consensus of $1.58 and full-year EPS of $4.40 vs. $4.61. (PR) Shares -4.2% premarket. Peers: SYT -3.7%. MOS -1.5%. AGU -1.3%. POT -1.2%. Comment!

• Thursday, April 23, 2009

• 07:09 AM Potash (POT): Q1 EPS of $1.02 beats by $0.16. Revenue of $922.5M (-51.2%) vs. $975.5M. Issues downside EPS guidance for Q2 of $1.10-$1.50 vs. $2.21 consensus, and FY '09 EPS of $7.00-$8.00 vs. $9.65. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: ABC, ALXN, AN, AVT, BDK, BG, BLL, CBE, CIT, CLS, CME, CNX, COP, CP, DHR, DO, EMC, ESI, ESV, EXC, FITB, GMT, GR, HSY, IGT, IVZ, JNS, LCC, LLL, MAR, MI, NCR, NCX, NIHD, NOV, NUE, OMTR, OXY, PENN, PM, PNC, POT, RCL, RS, RSH, RTN, RX, SCG, SEIC, SIAL, STI, SU, SVU, TCB, TMO, UNP, UPS, ZMH 1 Comment