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Zacks Analyst Blog Highlights: CF Industries Holdings Inc., Agrium Industries, Terra Industries, Star Bulk Carriers Corp. and General Mills, Inc.
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Chicago, IL – March 26, 2009 - Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: CF Industries Holdings Inc. (CF - Analyst Report), Agrium Industries (AGU - Analyst Report), Terra Industries (TRA), Star Bulk Carriers Corp. (SBLK - Snapshot Report) and General Mills, Inc. (GIS - Analyst Report).
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Here are highlights from Wednesday’s Analyst Blog:
CF Industries Lowered to Hold
CF Industries Holdings Inc. (CF - Analyst Report) is one of the largest manufacturers and distributors of nitrogen and phosphate fertilizer products in North America. The company's operations are organized into 2 business segments: the nitrogen fertilizer and the phosphate fertilizer.
The company is in the midst of being acquired by Agrium Industries (AGU - Analyst Report) or buyout of Terra Industries (TRA). However, there is weak demand and pricing in the interim period.
Star Bulk Carriers Misses
On March 16, 2009, Star Bulk Carriers Corp. (SBLK - Snapshot Report) reported 2008 4th quarter results. For the quarter, SBLK posted diluted EPS before non-cash items (time charter amortization, vessel impairment charge, and stock-based compensation costs) and nonrecurring items (gain on freight forward agreements and time charter termination fees) of $12.9 million, or $0.23 per diluted share.
This was below our $0.29 estimate due to lower-than-expected revenues. An average of 12.1 vessels were owned and operated for 1,043 voyage days during the quarter, earning an average adjusted time charter equivalent, or TCE, rate of $41,521 per day, down 9% sequentially from the $45,756 earned in 2008’s 3rd quarter.
General Mills Divests, Makes Dough
Managements of food companies are constantly assessing the growth potential and profitability of their portfolios of products in order to ensure that their companies have the operating and financial attributes for sustainable growth.
In that vein, General Mills, Inc. (GIS - Analyst Report) announced an agreement to sell a portion of its Bakeries and Foodservice frozen dough business to Pennant Foods, a private company based in Itasca, IL and a member of the Fresh Start Bakeries Family of Companies. The transaction is expected to be completed by the end of the May.
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| Market Summary | May 25, 2012 10:27 am ET |
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