Showing posts with label Archer Daniels Midland. Show all posts
Showing posts with label Archer Daniels Midland. Show all posts
Wednesday, September 26, 2012
U.S. Livestalk Companies Importing Corn from Brazil
With the price of corn in the U.S. having soared, livestock companies are looking for alternatives to feed their animals and chickens.
According to Reuters, Prestage Farms Inc. based in North Carolina, has ordered 750 tons of corn from Brazil, to be delivered by agribusiness giants Archer Daniels Midland Co (ADM) and Bunge Ltd (BG).
These imports are the largest order of its kind on record.
Senior Vice President John Prestage said, "As it got drier and drier, we starting thinking, 'We'd better start looking around.' So then we really went to work with the South American connections."
Prestage Farms raises about 170,000 sows and 15 million turkeys, which overall consume around 50 million bushels (1.27 million tons) of corn annually.
The first of approximately 15 shipments of about 50,000 tons of corn each is scheduled to arrive at the Port of Wilmington, North Carolina, next week. That will continue for a period of six months.
Also looking to import corn from Brazil for its chickens is Pilgrims Pride Corp.
Even after delivery costs Brazilian corn costs about 5 percent less than corn from the Midwest part of the U.S.
Thursday, February 2, 2012
Exxon (XOM) (ADM) (DNDN) (X) (EEP) (KWK) Ratings, Price Targets
Exxon Mobil (NYSE: XOM), Archer Daniels Midland Company (NYSE: ADM), Dendreon Co. (NASDAQ: DNDN), U.S. Steel (NYSE: X), Enbridge Energy Partners LP (NYSE: EEP), and Quicksilver Resources (NYSE: KWK) ratings and price targets.
Archer Daniels Midland Company (ADM) was upgraded by BMO Capital Markets from a “Market Perform” rating to an “Outperform” rating.
Dendreon Co. (DNDN) had its “Buy” rating reiterated by Deutsche Bank (NYSE:DB).
U.S. Steel (X) had its price target raised by JPMorgan Chase & Co. (NYSE:JPM) to $51.00.
Enbridge Energy Partners LP (EEP) was downgraded by Wells Fargo & Co. (NYSE:WFC) from an “Outperform” rating to a “Market Perform” rating.
Quicksilver Resources (KWK) was downgraded by Bank of America (NYSE:BAC) to an “Underperform” rating.
Exxon Mobil (XOM) was downgraded by Argus from a “Buy” rating to a “Hold” rating.
Archer Daniels Midland Company (ADM) was upgraded by BMO Capital Markets from a “Market Perform” rating to an “Outperform” rating.
Dendreon Co. (DNDN) had its “Buy” rating reiterated by Deutsche Bank (NYSE:DB).
U.S. Steel (X) had its price target raised by JPMorgan Chase & Co. (NYSE:JPM) to $51.00.
Enbridge Energy Partners LP (EEP) was downgraded by Wells Fargo & Co. (NYSE:WFC) from an “Outperform” rating to a “Market Perform” rating.
Quicksilver Resources (KWK) was downgraded by Bank of America (NYSE:BAC) to an “Underperform” rating.
Exxon Mobil (XOM) was downgraded by Argus from a “Buy” rating to a “Hold” rating.
Tuesday, October 12, 2010
Archer-Daniels-Midland (NYSE:ADM) and Corn Crop
While a lot of excitement has been generated in the agriculture sector because of lower yields, especially with corn and soybeans, that doesn't necessarily mean something positive for every company connected to food, such as Archer-Daniels Midland (NYSE:ADM).
Deutsche Bank (NYSE:DB) has noted just that when downgrading Archer-Daniels-Midland from "Buy" to "Hold."
"Additionally, a tighter U.S. corn crop is incrementally negative for agricultural services segment volumes and profitability, while the current sweetener pricing letter does not appear to be adequate to offset higher corn, barring hedges. While F1Q11E (end Sept) should benefit from earlier corn harvest and fundamentals remain relatively solid, future positive catalysts are difficult to discern and valuation looks fair," said Deutsche.
ADM closed at $32.56 Monday, dropping $0.30, or 0.91 percent.
Deutsche Bank (NYSE:DB) has noted just that when downgrading Archer-Daniels-Midland from "Buy" to "Hold."
"Additionally, a tighter U.S. corn crop is incrementally negative for agricultural services segment volumes and profitability, while the current sweetener pricing letter does not appear to be adequate to offset higher corn, barring hedges. While F1Q11E (end Sept) should benefit from earlier corn harvest and fundamentals remain relatively solid, future positive catalysts are difficult to discern and valuation looks fair," said Deutsche.
ADM closed at $32.56 Monday, dropping $0.30, or 0.91 percent.
Tuesday, September 14, 2010
Flour (NYSE:FLR) Downgraded by Standpoint Research
Standpoint Research Downgraded Flour (NYSE:FLR) to from "Buy" to "Hold," saying the valuation of the company is on the upper end.
Since June 1, 2010, Flour has risen 20 percent, standing at $49.00 today at 12:55 PM EDT.
Standpoint made a similar downgrade on Archer Daniels Midland (NYSE:ADM), citing similar growth which leaves little on the upside.
Flour lost $0.73, or 1.47 percent for the trading session.
Since June 1, 2010, Flour has risen 20 percent, standing at $49.00 today at 12:55 PM EDT.
Standpoint made a similar downgrade on Archer Daniels Midland (NYSE:ADM), citing similar growth which leaves little on the upside.
Flour lost $0.73, or 1.47 percent for the trading session.
Archer Daniels Midland (NYSE:ADM) Downgraded by Standpoint Research
Standpoint Research downgraded Archer Daniels Midland (NYSE:ADM) today from "Buy" to "Hold."
Since June 7 when they hit $24.51, the company has been on a tear, rising to $32.32.35 today (although they're down in today's session).
Standpoint said the valuation and increase of 30 percent during that time leaves little room for upward movement.
ADM has been trying to push ethanol on us in order to gain from the increased demand, but that has been fought against by an increasing number of people because of the damage done to equipment and cars, and the huge amounts of input needed to raise corn.
Since June 7 when they hit $24.51, the company has been on a tear, rising to $32.32.35 today (although they're down in today's session).
Standpoint said the valuation and increase of 30 percent during that time leaves little room for upward movement.
ADM has been trying to push ethanol on us in order to gain from the increased demand, but that has been fought against by an increasing number of people because of the damage done to equipment and cars, and the huge amounts of input needed to raise corn.
Tuesday, August 3, 2010
Archer Daniels Midland (NYSE:ADM) Earnings Beat Expectations, Revenue Down
Quarterly earnings for agricultural giant Archer Daniels Midland (NYSE:ADM) beat analysts' expectations easily, as margins from their corn processing and oil segments improved strongly, and overall demand for some of their products increased in the fiscal fourth quarter company.
Earnings for the quarter came in at $446 million, or 69 cents a share, up from the $58 million, or 9 cents a share last year in the same quarter. Analysts had been looking for 53 cents a share.
Revenue did plunge from $16.5 billion last year to $15.7 billion this year, highlighting the cost measures put in place, which were lower by 8.6 percent from last year, generating the profits for the quarter. Again, it points to the margins being wider in this quarter.
The company was carried in its earnings for the quarter by the oilseeds unit, which generated $359 million of the profits of the company. Still, there was some short-term reference to margins being under pressure this quarter, based on increased global processing capacity which has created an excess of supply. That could lower earnings in the next quarter.
Earnings from the corn processing unit reached $140 million, even with lower margins in the sweeteners and starches segment of the division.
It looks like the company has cut costs to about as low as they can, so going forward performance will be based primarily on demand.
Steven Mills, ADM's chief financial officer said concerning that, "We see growing long-term demand for protein meal but short-term excess processing capacity is resulting in softer crush margins."
Earnings for the quarter came in at $446 million, or 69 cents a share, up from the $58 million, or 9 cents a share last year in the same quarter. Analysts had been looking for 53 cents a share.
Revenue did plunge from $16.5 billion last year to $15.7 billion this year, highlighting the cost measures put in place, which were lower by 8.6 percent from last year, generating the profits for the quarter. Again, it points to the margins being wider in this quarter.
The company was carried in its earnings for the quarter by the oilseeds unit, which generated $359 million of the profits of the company. Still, there was some short-term reference to margins being under pressure this quarter, based on increased global processing capacity which has created an excess of supply. That could lower earnings in the next quarter.
Earnings from the corn processing unit reached $140 million, even with lower margins in the sweeteners and starches segment of the division.
It looks like the company has cut costs to about as low as they can, so going forward performance will be based primarily on demand.
Steven Mills, ADM's chief financial officer said concerning that, "We see growing long-term demand for protein meal but short-term excess processing capacity is resulting in softer crush margins."
Wednesday, June 9, 2010
Archer Daniels Midland (NYSE:ADM) Ethanol Push
Archer Daniels Midland (NYSE:ADM) is attempting to use the negative sentiment against oil companies at this time as a result of the Gulf spill to push their ethanol agenda of increasing the mix of ethanol and gasoline to 12 percent to run in cars.
This isn't because they care about alternative energy, as corn-based ethanol is harsh and hard on the environment, rather it's because of the drop in price of corn which will generate better earnings because of higher margins.
To that end they're pressing the Environmental Protection Agency to make the increased change to benefit themselves solely by selling more corn.
Meat producers are strongly resisting ethanol subsidies and other measures like this as it puts strain on their margins because of the ethanol industry being artificially propped up by the government.
I agree with the meat industry that ethanol subsidies should be completely abandoned and the industry should be left to stand or fall on its own, like it should have been all along.
With ethanol causing all sorts of problems for small engines and lack of evidence as to how hard it is on some cars, it would be foolish and irresponsible to allow this increase in ethanol-gasoline blend at this time, or any time in the future.
Let people decide if they want to buy ethanol to run their vehicles, not anyone else.
This isn't because they care about alternative energy, as corn-based ethanol is harsh and hard on the environment, rather it's because of the drop in price of corn which will generate better earnings because of higher margins.
To that end they're pressing the Environmental Protection Agency to make the increased change to benefit themselves solely by selling more corn.
Meat producers are strongly resisting ethanol subsidies and other measures like this as it puts strain on their margins because of the ethanol industry being artificially propped up by the government.
I agree with the meat industry that ethanol subsidies should be completely abandoned and the industry should be left to stand or fall on its own, like it should have been all along.
With ethanol causing all sorts of problems for small engines and lack of evidence as to how hard it is on some cars, it would be foolish and irresponsible to allow this increase in ethanol-gasoline blend at this time, or any time in the future.
Let people decide if they want to buy ethanol to run their vehicles, not anyone else.
Saturday, May 22, 2010
Archer Daniels Midland (NYSE:ADM) Closing Mansfield Plant, Expanding Chocolate Plant
Archer Daniels Midland (NYSE:ADM) is closing their operation in Mansfield, Massachusetts in the fall, but will be expanding operations at their chocolate plant in Hazleton.
Approximately 83 jobs will be coming to the chocolate plant, some of them possibly transferring from the Mansfield facility.
At this tim eabout 200 workers are at the Humboldt Industrial Park plant, which ADM has expanded in the past, transferring 53 workers from its cocoa-processing plant in Glassboro, New Jersey.
Approximately 83 jobs will be coming to the chocolate plant, some of them possibly transferring from the Mansfield facility.
At this tim eabout 200 workers are at the Humboldt Industrial Park plant, which ADM has expanded in the past, transferring 53 workers from its cocoa-processing plant in Glassboro, New Jersey.
Tuesday, May 11, 2010
Metabolix (NASDAQ:MBLX), Archer Daniels Midland (NYSE:ADM) Telles Approval for Mirel F1005 and F1006
Archer Daniels Midland (NYSE:ADM) and Metabolix (NASDAQ:MBLX) announced today that the USDA gave clearance to Telles concerning Mirel F1005 and F1006, which will be used in food contact applicatons.
Mirel F1005 and F1006 are contact injection molding grades used in applications related to contact with food.
Richard Eno, CEO of Metabolix, said this about the approval, "With the Clinton plant now in operation, and this FDA clearance, we now can move forward with brand owners' requests to use Mirel in their injection molded food packaging applications. These applications, which currently consume billions of pounds of petroleum-based polymers per year, offer considerable opportunity for growth of our biobased, biodegradable polymer, Mirel."
Mirel can be used for a variety of molded food service and packaging applications, such as storing of frozen foods, reheating foods in the microwave, lids for hot cups, cosmetics, medical packaging, food utensils, among many others.
Mirel F1005 and F1006 are contact injection molding grades used in applications related to contact with food.
Richard Eno, CEO of Metabolix, said this about the approval, "With the Clinton plant now in operation, and this FDA clearance, we now can move forward with brand owners' requests to use Mirel in their injection molded food packaging applications. These applications, which currently consume billions of pounds of petroleum-based polymers per year, offer considerable opportunity for growth of our biobased, biodegradable polymer, Mirel."
Mirel can be used for a variety of molded food service and packaging applications, such as storing of frozen foods, reheating foods in the microwave, lids for hot cups, cosmetics, medical packaging, food utensils, among many others.
Wednesday, May 5, 2010
Archer Daniels Midland (NYSE:ADM) To Grow Through Acquisitions
Archer Daniels Midland (NYSE:ADM) said after their quarterly report yesterday that their expansion plans are primarily to grow through mergers or acquisitions.
CFO Steven Mills said that's the key reason for maintaining a strong balance sheet.
This implies that organic growth isn't going to happen and they may be maxed out there.
Third-quarter profits for ADM missed analysts' estimates because of a decline in prices of starches and sweeteners.
The rest of the year looks tough for the company as well, with prices of corn syrup and ethanol expected to continue dropping.
CFO Steven Mills said that's the key reason for maintaining a strong balance sheet.
This implies that organic growth isn't going to happen and they may be maxed out there.
Third-quarter profits for ADM missed analysts' estimates because of a decline in prices of starches and sweeteners.
The rest of the year looks tough for the company as well, with prices of corn syrup and ethanol expected to continue dropping.
Saturday, April 24, 2010
Archer Daniels Midland's (NYSE: ADM) Double Taxation Relief
At a co-generation plant in Clinton, Iowa, Archer Daniels Midland (NYSE: ADM) won't have to pay double taxation, as they were originally slated to before specific legislation was introduced to deal with the issue.
What Archer Daniels Midland will be able to do under the new bill will be to use a tax credit in relationship to it utility replacement tax and place it against their local property taxes, effectively eliminating double taxation.
The self generator status which would usually eliminate the problem didn't apply to ADM because it sells electricity; the reason the bill had to be written.
What Archer Daniels Midland will be able to do under the new bill will be to use a tax credit in relationship to it utility replacement tax and place it against their local property taxes, effectively eliminating double taxation.
The self generator status which would usually eliminate the problem didn't apply to ADM because it sells electricity; the reason the bill had to be written.
Thursday, March 25, 2010
Morgan Stanley (NYSE:MS) Reduces EPS Estimates for Archer Daniels Midland (NYSE:ADM)
Morgan Stanley Lowers Archer Daniels Midland Earnings Estimate
Based largely on declining ethanol profits, Morgan Stanley (NYSE:MS) reduced its estimate for earnings per share for Archer Daniels Midland (NYSE:ADM), saying ethanol profits, or lack of them, will pressure earnings through 2011.
In spite of the downgrade in estimate for earnings per share, Morgan Stanley did maintain its $33 a share price target and kept the stock at an Equal Weight rating.
Archer Daniels was down almost 3 percent on the day.
Based largely on declining ethanol profits, Morgan Stanley (NYSE:MS) reduced its estimate for earnings per share for Archer Daniels Midland (NYSE:ADM), saying ethanol profits, or lack of them, will pressure earnings through 2011.
In spite of the downgrade in estimate for earnings per share, Morgan Stanley did maintain its $33 a share price target and kept the stock at an Equal Weight rating.
Archer Daniels was down almost 3 percent on the day.
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