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BG

Bunge

$55.62

-0.205 (-0.37%)

, BP

BP

$39.22

0.37 (0.95%)

06:37
07/22/19
07/22
06:37
07/22/19
06:37

Bunge announces bioenergy joint venture with BP, receives $775M in cash proceeds

Bunge (BG) announced an agreement with BP (BP) to form a 50/50 joint venture that will create a bioenergy company in Brazil. Bunge will receive cash proceeds of $775M in the transaction, comprising $700M in respect of non-recourse Bunge debt to be assumed by the joint venture at closing, and $75M from BP, subject to customary closing adjustments. The proceeds will be used to reduce outstanding indebtedness under the company's credit facilities. The joint venture, to be called BP Bunge Bioenergia, will operate on a stand-alone basis, with a total of 11 mills located across the southeast, north and midwest regions of Brazil. With 32M metric tonnes of combined crushing capacity per year, the joint venture will have the flexibility to produce a mix of ethanol and sugar. It will also generate renewable electricity, fueled by waste biomass from the sugar cane , through its cogeneration facilities to power all its sites and sell surplus electricity to the Brazilian power grid. The combined business will be ranked the second largest player in the industry in Brazil by effective crushing capacity. The new business is expected to be headquartered in Sao Paulo. Mario Lindenhayn from BP will be executive chairman, Geovane Consul from Bunge, will be CEO. BP and Bunge will have equal representation on the board. The transaction has been unanimously approved by the board of Bunge. Closing of the transaction is expected in the Q4, subject to customary conditions, including receipt of required regulatory approvals.

BG

Bunge

$55.62

-0.205 (-0.37%)

BP

BP

$39.22

0.37 (0.95%)

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  • 27

    Aug

  • 25

    Sep

BG Bunge
$55.62

-0.205 (-0.37%)

11/01/18
SBSH
11/01/18
NO CHANGE
Target $82
SBSH
Buy
Citi says Bunge is for sale, sees takeout value at $90 per share
Citi analyst David Driscoll says that with Bunge adding three "new, high quality" members to its board and initiating a strategic review, he believes the company is for sale in whole, or parts. The analyst thinks Bunge possesses medium term earnings power of $7.00 per share, and sees a takeout value of $90 per share. Driscoll lowered his price target for the stock to $82 from $92 and keeps a Buy rating on Bunge.
01/23/19
FBCO
01/23/19
NO CHANGE
Target $70
FBCO
Outperform
Bunge price target lowered to $70 from $77 at Credit Suisse
Credit Suisse analyst Robert Moskow lowered his price target for Bunge to $70 from $77 following management's EBIT guidance reduction for its Agribusiness and Sugar segment. The analyst reiterates an Outperform rating on the shares due to his view that Bunge's newly constituted board will generate shareholder value by slimming down the portfolio, improving execution, and possibly selling the business.
02/22/19
BMOC
02/22/19
NO CHANGE
Target $72
BMOC
Outperform
Bunge price target lowered to $72 from $83 at BMO Capital
BMO Capital analyst Kenneth Zaslow lowered his price target on Bunge to $72 after its Q4 earnings miss driven by a higher tax rate and expectations of flat FY19 EPS because of lower Agribusiness profits. The analyst also keeps his Outperform rating, saying investment in the stock may be "ripe" because of the appointment of new management, "severe earnings rebase", potential asset sales, cost savings opportunities, and limited downside given its current price relative to $48-$49 per share book value.
07/12/19
BARD
07/12/19
NO CHANGE
BARD
Outperform
Darling Ingredients named a Fresh Pick at Baird
Baird analyst Ben Kallo named Darling Ingredients (DAR) as a Fresh Pick as he believes a rally in fat pricing should be a tailwind for the balance of the year. While he is more positive on Darling (DAR), Kallo said weather, trade, and African swine fever combine to make challenging ag environment more broadly and he is cautious in the near-term on Archer Daniels (ADM), Bunge (BG) and FMC Corporation (FMC). He keeps Outperform ratings on Darling and Archer and Neutral ratings on Bunge and FMC.
BP BP
$39.22

0.37 (0.95%)

04/16/19
RBCM
04/16/19
DOWNGRADE
Target $49.1
RBCM
Outperform
BP downgraded to Outperform from Top Pick at RBC Capital
RBC Capital analyst Biraj Borkhataria downgraded BP to Outperform from Top Pick and lowered his price target for the shares to $49.10 from $49.60. The analyst cites valuation for the downgrade following the recent rally in the shares. Borkhataria continues to be positive on the outlook for integrated oil majors but sees modest downside to Q1 estimates.
04/16/19
04/16/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. HollyFrontier (HFC) downgraded to Sell from Neutral at Goldman Sachs with analyst Neil Mehta saying he now sees a less attractive crude differential environment given a narrower Brent-WTI and WTI-WCS spread forecast in 2019 and 2020. 2. BP (BP) downgraded to Outperform from Top Pick at RBC Capital with analyst Biraj Borkhataria citing valuation. 3. Cisco (CSCO) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Rod Hall saying Cisco has executed well on rolling out its Catalyst 9000 products that have driven "solid" double digit growth in campus switching revenues. 4. DowDuPont (DWDP) downgraded to Sector Perform from Outperform at RBC Capital with analyst Arun Viswanathan citing the impact of the company's spinoff of Dow on April 2nd. 5. EOG Resources (EOG) and EQT Corporation (EQT) downgraded to Neutral from Buy at MKM Partners. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/10/19
FBCO
07/10/19
DOWNGRADE
FBCO
Neutral
BP downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse analyst Thomas Adolff downgraded BP (BP) to Neutral from Outperform and lowered his price target for the shares to 605p from 640p. The analyst now prefers shares of Total (TOT) as he believes they are trading at a cheaper valuation than BP.
07/10/19
07/10/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Deere (DE) downgraded to Neutral from Buy at UBS with analyst Steven Fisher saying that after a "sharp" rebound from a weak May, the stock now balances the risks of near-term caution and the potential pick-up in 2020. 2. Universal Display (OLED) downgraded to Perform from Outperform at Oppenheimer with analyst Andrew Uerkwitz citing valuation. 3. Parker-Hannifin (PH) and Agco (AGCO) were downgraded to Neutral from Overweight at JPMorgan. 4. BP (BP) downgraded to Neutral from Outperform at Credit Suisse with analyst Thomas Adolff saying he now prefers shares of Total (TOT) as he believes they are trading at a cheaper valuation than BP. 5. Citizens Financial (CFG) downgraded to Neutral from Buy at UBS with analyst Saul Martinez saying the bank's "limited fee generation" and declining ROA make it vulnerable in a more challenging interest rate and credit environment. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
09/20/19
09/20
14:17
09/20/19
14:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
09/20/19
09/20
14:16
09/20/19
14:16
Technical Analysis
NYSE market internals summary »

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PDD

Pinduoduo

$33.65

-0.98 (-2.83%)

14:15
09/20/19
09/20
14:15
09/20/19
14:15
Options
Pinduoduo put volume heavy and directionally bearish »

Bearish flow noted in…

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FIT

Fitbit

$4.00

0.3347 (9.13%)

14:11
09/20/19
09/20
14:11
09/20/19
14:11
Periodicals
Fitbit deciding whether to explore sale, Reuters says »

Fitbit (FIT) has held…

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FIT

Fitbit

$3.69

0.025 (0.68%)

14:07
09/20/19
09/20
14:07
09/20/19
14:07
Hot Stocks
Fitbit rises after report of hiring bank to consider sale »

Shares of Fitbit are…

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FIT

Fitbit

$3.73

0.06 (1.64%)

14:03
09/20/19
09/20
14:03
09/20/19
14:03
Periodicals
Breaking Periodicals news story on Fitbit »

Fitbit in talks with bank…

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W

Wayfair

$122.80

-5.865 (-4.56%)

13:55
09/20/19
09/20
13:55
09/20/19
13:55
Options
Wayfair put volume heavy and directionally bearish »

Bearish flow noted in…

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DELL

Dell Technologies

$52.26

-0.8 (-1.51%)

13:53
09/20/19
09/20
13:53
09/20/19
13:53
Conference/Events
Dell Technologies to hold a business news update meeting »

CFO Sweet, along with SVP…

03/08/13
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FTR

Frontier Communications

$1.00

-0.0006 (-0.06%)

13:43
09/20/19
09/20
13:43
09/20/19
13:43
Periodicals
Frontier Communications prepares for debt restructuring talks, WSJ reports »

Frontier Communications…

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13:40
09/20/19
09/20
13:40
09/20/19
13:40
General news
U.S. equity markets »

U.S. equity markets were…

BTU

Peabody Energy

$15.47

-1.56 (-9.16%)

, ARCH

Arch Coal

$71.00

-5.37 (-7.03%)

13:39
09/20/19
09/20
13:39
09/20/19
13:39
Hot Stocks
Peabody Energy confirms commitment to pending PRB/Colorado joint venture »

Peabody (BTU) confirmed…

BTU

Peabody Energy

$15.47

-1.56 (-9.16%)

ARCH

Arch Coal

$71.00

-5.37 (-7.03%)

03/08/13
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03/08/13
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03/06/13
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SPY

SPDR S&P 500 ETF Trust

$298.09

-1.586381 (-0.53%)

, SPX

S&P 500

$0.00

(0.00%)

13:34
09/20/19
09/20
13:34
09/20/19
13:34
Periodicals
Chinese delgation cancels farm trip to Montana, Reuters reports »

Chinese officials that…

SPY

SPDR S&P 500 ETF Trust

$298.09

-1.586381 (-0.53%)

SPX

S&P 500

$0.00

(0.00%)

DJX

Dow Jones Industrial Average

$0.00

(0.00%)

NDX

Nasdaq 100 Index

$0.00

(0.00%)

03/08/13
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RACE

Ferrari

$151.80

-1.95 (-1.27%)

13:30
09/20/19
09/20
13:30
09/20/19
13:30
Options
Trader trims risk by legging out of iron condor in Ferrari »

Trader trims risk by…

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MGM

MGM Resorts

$29.05

-0.01 (-0.03%)

13:25
09/20/19
09/20
13:25
09/20/19
13:25
Options
MGM Resorts call volume above normal and directionally bullish »

Bullish option flow…

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SPY

SPDR S&P 500 ETF Trust

$300.00

0.323619 (0.11%)

, SPX

S&P 500

$0.00

(0.00%)

13:22
09/20/19
09/20
13:22
09/20/19
13:22
General news
Breaking General news story on SPDR S&P 500 ETF Trust, S&P 500 »

Montana farm bureau says…

SPY

SPDR S&P 500 ETF Trust

$300.00

0.323619 (0.11%)

SPX

S&P 500

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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WMT

Walmart

$117.62

0.58 (0.50%)

, MO

Altria Group

$41.19

1.08 (2.69%)

13:21
09/20/19
09/20
13:21
09/20/19
13:21
Periodicals
Walmart to stop sale of e-cigarettes in stores, Yahoo Finance reports »

Walmart (WMT) will stop…

WMT

Walmart

$117.62

0.58 (0.50%)

MO

Altria Group

$41.19

1.08 (2.69%)

BTI

British American Tobacco

$36.57

0.07 (0.19%)

IMBBY

Imperial Brands

$0.00

(0.00%)

PM

Philip Morris

$72.77

1.07 (1.49%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 25

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    Nov

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    Nov

MGM

MGM Resorts

$29.04

-0.02 (-0.07%)

13:21
09/20/19
09/20
13:21
09/20/19
13:21
Periodicals
Breaking Periodicals news story on MGM Resorts »

MGM Resorts in talks to…

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BTI

British American Tobacco

$36.57

0.07 (0.19%)

, MO

Altria Group

$41.24

1.13 (2.82%)

13:19
09/20/19
09/20
13:19
09/20/19
13:19
Hot Stocks
BTI says product, to its knowledge, not involved in vaping deaths »

British American Tobacco…

BTI

British American Tobacco

$36.57

0.07 (0.19%)

MO

Altria Group

$41.24

1.13 (2.82%)

PM

Philip Morris

$72.78

1.08 (1.51%)

IMBBY

Imperial Brands

$0.00

(0.00%)

03/08/13
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  • 12

    Nov

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
09/20/19
09/20
13:17
09/20/19
13:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
09/20/19
09/20
13:16
09/20/19
13:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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03/06/13
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FLR

Fluor

$20.74

-0.17 (-0.81%)

13:15
09/20/19
09/20
13:15
09/20/19
13:15
Periodicals
Fluor seen announcing cost cuts, possible dividend cut, blog report says »

When Fluor announces…

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  • 24

    Sep

WMT

Walmart

$117.59

0.55 (0.47%)

, BTI

British American Tobacco

$36.62

0.12 (0.33%)

13:13
09/20/19
09/20
13:13
09/20/19
13:13
Periodicals
Walmart to stop sale of e-cigarettes in stores, Reuters says »

Publicly traded tobacco…

WMT

Walmart

$117.59

0.55 (0.47%)

BTI

British American Tobacco

$36.62

0.12 (0.33%)

MO

Altria Group

$41.20

1.09 (2.72%)

PM

Philip Morris

$72.77

1.07 (1.49%)

IMBBY

Imperial Brands

$0.00

(0.00%)

03/08/13
Wedge Partners
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03/06/13
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03/06/13
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  • 25

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  • 13

    Nov

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F

Ford

$9.29

0.185 (2.03%)

, GM

General Motors

$37.72

-0.06 (-0.16%)

13:09
09/20/19
09/20
13:09
09/20/19
13:09
Hot Stocks
California, 23 other states sue NHTSA over Trump preemption rule »

California Attorney…

F

Ford

$9.29

0.185 (2.03%)

GM

General Motors

$37.72

-0.06 (-0.16%)

HMC

Honda

$26.80

0.15 (0.56%)

NSANY

Nissan

$0.00

(0.00%)

TM

Toyota

$137.04

0.44 (0.32%)

TSLA

Tesla

$242.52

-3.99 (-1.62%)

DDAIF

Daimler AG

$0.00

(0.00%)

FCAU

Fiat Chrysler

$13.59

-0.04 (-0.29%)

VWAGY

Volkswagen

$0.00

(0.00%)

03/08/13
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  • 23

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  • 02

    Oct

  • 23

    Oct

  • 23

    Oct

13:03
09/20/19
09/20
13:03
09/20/19
13:03
General news
Baker-Hughes Rig Count N. Amer. data reported »

Week of 9/20 Baker-Hughes…

BHGE

Baker Hughes

$23.08

-0.13 (-0.56%)

13:02
09/20/19
09/20
13:02
09/20/19
13:02
Hot Stocks
Baker Hughes reports U.S. rig count down 18 to 868 rigs »

Baker Hughes reports that…

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