cowen cuts mosaic price target to $45 from $53, rates market perform
cowen cuts rnf price target to $15 from $18 rates market perform
reported on chas schwab streetsmart
no mention of uan
UBS Starts Akamai Technologies (AKAM) at Buy
7:52 AM ET, 09/05/2014 - Street Insider
UBS initiated coverage on Akamai Technologies (NASDAQ: AKAM) with a Buy rating and a price target of $70.00. For an analyst ratings summary and ratings history on Akamai Technologies
A FARMER DECIDED
HE WANTED TO GO TO TOWN
AND SEE A MOVIE.
THE TICKET AGENT ASKED,
"SIR, WHAT'S THAT ON YOUR SHOULDER?"
THE OLD FARMER SAID,
"THAT'S MY PET ROOSTER CHUCK.
WHEREVER I GO, CHUCK GOES."
"I'M SORRY SIR," SAID THE TICKET AGENT
"WE CAN'T ALLOW ANIMALS IN THE THEATER."
THE OLD FARMER WENT AROUND THE CORNER
AND STUFFED CHUCK DOWN HIS OVERALLS.
THEN HE RETURNED TO THE BOOTH,
BOUGHT A TICKET, AND ENTERED THE THEATER.
HE SAT DOWN NEXT TO
TWO OLD WIDOWS
NAMED ETHEL & MILDRED.
THE MOVIE STARTED
AND THE ROOSTER BEGAN TO SQUIRM. .. ..
THE OLD FARMER
UNBUTTONED HIS FLY SO
CHUCK COULD STICK HIS HEAD OUT
AND WATCH THE MOVIE.
"ETHEL", WHISPERED MILDRED.
"WHAT?" SAID ETHEL.
"I THINK THE GUY NEXT TO ME
IS A PERVERT."
"WHAT MAKES YOU THINK SO?" ASKED ETHEL?
"HE UNDID HIS PANTS AND
HE HAS HIS THING OUT", WHISPERED MILDRED.
"WELL, DON'T WORRY ABOUT IT", SAID ETHEL..
"AT OUR AGE WE'VE SEEN 'EM ALL"
"I THOUGHT SO TOO", SAID MILDRED,
But this one is
EATIN' MY POPCORN...!"
Corn Holds Near Lowest Since 2010 as U.S. Crop Seen Large
By Phoebe Sedgman Sep 4, 2014 8:51 AM ET 0 Comments Email Print
Corn held near the lowest price in four years as crop conditions in the U.S. improved, boosting expectations that production this year will be the highest ever.
The contract for December delivery fell 0.1 percent to $3.515 a bushel at 7:44 a.m. on the Chicago Board of Trade, after falling to $3.5125, matching the lowest for a most-active contract since June 2010. Prices fell 17% this year.
About 74 percent of corn and 72 percent of soybeans were rated in good to excellent condition as of Aug. 31, the best for the week since 1994, the U.S. Department of Agriculture said Sept. 2. INTL FCStone Inc. and Allendale Inc. say corn output will top USDA’s estimate. Samples in Illinois, Ohio, Indiana and Iowa, representing 45 percent of forecast output, showed bigger yields than last year, according to inspections on the 22nd annual Pro Farmer crop tour.
“Yield results seem to be surprising people on the upside,” Wayne Gordon, an analyst at UBS AG in Singapore, said by phone today. “People are looking at the balance sheet and are thinking they can now lock in these pretty big numbers that a lot of people have been talking about.”
Farmers may harvest 14.595 billion bushels, FCStone said Sept. 2. The crop may reach 14.409 billion bushels, Illinois-based Allendale said yesterday. The USDA forecasts a record 14.032 billion bushels.
Wheat for December delivery declined 0.6 percent to $5.3275 a bushel. In Paris, milling wheat futures dropped 0.7 percent, the fifth consecutive decline.
Soybeans for delivery in November fell 0.3 percent to $10.17 a bushel.
The Bottom Line
A lot has changed in the six or so months since I last wrote about Penn Virginia, and my NAV estimates have changed as well. Factoring in drilling results (production, well costs, etc.), acreage additions, and the Upper Eagle Ford prospects, and so on, my NAV estimate rises about $8/share to $22.75. My estimated gross asset value for the proved reserves falls to $14.25/share mostly because of the higher share count, while the risked gross asset value climbs to $18/share on de-risked Lower Eagle Ford acreage and the addition of Upper Eagle Ford potential. There's still some downspacing potential here, and likewise the potential for higher EURs to raise the value of the Upper Eagle Ford opportunity.
With an EV/EBITDA approach likewise producing a fair value above $20, Penn Virginia looks quite cheap. The Street hasn't exactly forgotten this name, as the average sell-side price target is up about 40% from February of this year, but clearly something is rankling the Street. I may well be overestimating the value of the company's risked Eagle Ford opportunities and the company may continue to underwhelm with its production and expense numbers, but those risks go with most E&P companies. This isn't a "widows and orphans" type of stock, but for investors who want a nearly pure-play on quality Eagle Ford acreage, this is a good name to investigate further.
Weekly Fertilizer Review
Ammonia prices rocket higher
Published on: Aug 19, 2014
Post to Your Wall.
The sharp increase in ammonia prices we began noticing last week hit home hard this week, as updated offer sheets show a lot of movement for farmers who waited to book fall fertilizers. The good news is that prices for other nutrients have begun to steady or even ease, though there's plenty of variance around the Midwest and Plains
Ammonia jumped $35 to $75 a ton on wholesale markets, taking prices more than $100 higher on the Plains, where price increases were most notable. While prices in June were under $600 at some retailers, costs are now routinely topping $700 in the west. A few dealers are still as cheap as $620, but that's $50 up from their previous charges. Most retailers are in the $715 to $750 range on the Plains, where terminal prices shot up to $650 last week. Wholesale prices to the east in the Corn Belt are $10 cheaper, but that still suggests prices $700 or above. USDA put the average price in Iowa last week at $710, in a range from $640 to $780. Tight international supplies caused by shortages of natural gas and the ongoing tension in Russia and Ukraine, big producers, has buyers scrambling, triggering a rash of deals in other forms of nitrogen as well. Crop prices and acreage don't translate into higher prices, but buyers fear shortages and aren't waiting.
Urea was very active on international markets, with Chinese producers taking advantage of higher prices while their sales window for exports is open. The question now is whether the market will continue its typically rally into late fall, or begin to ease back. The swaps market is betting the rally won't last past September, and some retail costs in the U.S. are already retreating. Urea is running $475 to $510 on the Plains, and USDA put the average in Iowa unchanged at $540. While fundamentals point to retail prices between $415 to $475, fair value currently is around $475 based on the wholesale market, and swaps don't indicate a huge break is likely. The current index at the Gulf is quoted at $350, with September $10 higher before prices fade to $327.50 for November/December.
Settlement Date Short Interest Avg Daily Share Volume Days To Cover
8/15/2014 178,894 209,190 1.000000
7/31/2014 268,190 217,712 1.231857
7/15/2014 223,169 174,646 1.277836
Read more: http://www.nasdaq.com/symbol/uan/short-interest#ixzz3BzSScNFR
DJ Another Forecast Cut From Penn Virginia -- Market Talk
Aug 25, 2014 07:16:00 (ET)
7:16 EDT - Continued well-completion delays prompts another 2014 production-guidance cut from Penn Virginia (PVA), which stresses "well results continue to meet or exceed expectations." Problem is, new wells aren't coming on line as quickly as management had been expecting. PVA's Eagle Ford presence, though, is paying off, with anticipated 2H output in that Texas shale play being 50-60% above 1H. The company cuts anticipated 2H capital spending some 8% and lowers earnings guidance even more. Investors didn't take kindly to last month's forecast cut, sending PVA down 11% that day. Shares have reversed much of that decline, but a new one is liable to occur today. PVA, inactive premarket, is up 9.6% this mo
NYSE stocks posting largest percentage increases
1:22 PM ET, 08/22/2014 - Associated Press
NEW YORK (AP) — A look at the 10 biggest percentage gainers on New York Stock Exchange at the close of trading:
CHC Group Ltd. rose 14.7 percent to $7.10.
Dynegy Inc. rose 8.7 percent to $32.32.
TRC Companies Inc. rose 8.4 percent to $5.81.
TravelCenters Am rose 8.1 percent to $10.52.
Veeva Systems Inc. rose 7.8 percent to $24.42.
Salesforce.com Inc. rose 7.3 percent to $59.80.
AK Steel Holding Corp. rose 6.7 percent to $10.68.
SeaWorld Entertain rose 6.6 percent to $20.27.
Penn Virginia Corp. rose 6.5 percent to $14.27.
Gamestop Corp. rose 6.0 percent to $42.90.
Penn Virginia Corporation Short Interest
PVA $12.91* 0.040.31%
*Delayed - data as of Aug. 15, 2014 11:31 ET - Find a broker to begin trading PVA now Exchange: NYSE
Community Rating: Bullish
View: PVA Real Time Knowledge. Support. Transparent Pricing. More reasons to say I'm with Scottrade. Click to learn more!
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Settlement Date Short Interest Avg Daily Share Volume Days To Cover
7/31/2014 18,185,675 2,950,080 6.164468
7/15/2014 16,663,102 1,940,661 8.586302
6/30/2014 17,279,813 4,021,989 4.296335
Two decades ago, Richard Kinder helped start a boom in reorganizing large U.S. companies so they're exempt from corporate income tax. Yesterday he said he's through with the idea.
Kinder plans to buy up two companies he controls, known as master limited partnerships, for a combined $44 billion, consolidating his oil and natural gas pipeline empire under a single, taxable corporation known as Kinder Morgan Inc. The change will lower investor payouts, leaving heft to beat rivals on new projects or buy them up, he said.
After Hours Volume: After Hours High: After Hours Low:
910,629 $ 13.025
(16:02:58 PM) $ 12.92
Most Active in the After-Hours
After Hours Time (ET) After Hours Price After Hours Share Volume
16:02 $ 13.025 High 260,375
16:02 $ 13.019 539,051
16:02 $ 13.019 111,103
16:01 $ 12.92 Low 100
Read more: http://www.nasdaq.com/symbol/pva/after-hours#ixzz39phdfhFQ