NEW YORK, NY / ACCESSWIRE / May 22, 2018 / It was a day of green for environmental stocks SenesTech and CF Industries on Monday. SenesTech stole the show with a close of almost 300% on news that California has proposed to register the company's fertility control product, ContraPest. Shares of CF Industries moved higher despite any catalyst. The company had reported a surprise profit in its first quarter earnings earlier in the month.
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CF Industries Holdings, Inc.
SenesTech, Inc. shares closed up a whopping 296.07% on about 42.3 million shares traded on Monday. The stock experienced skyrocket volume yesterday as shares soared on news that the California Department of Pesticide Regulation (CDPR) has proposed to register the company's ContraPest® for use in California. The developer of proprietary technologies for managing animal pest populations through fertility control, will be able to market and sell ContraPest throughout California, upon approval. CEO Dr. Loretta P. Mayer commented, "California consistently leads the way with respect to innovative and environmentally sensitive policies, and California consumers can be the most demanding of the products they buy and use – the products must be effective, they must be as safe as possible, they must be ethical, and they must pose the least burden on the planet. These are the qualities that we are committed to and evident in our design of ContraPest. I expect this will be a great market for ContraPest, with rapid adoption, as the California consumers are always ahead of the curve." ContraPest is SenesTech's first fertility control product.
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CF Industries Holdings, Inc. shares closed up a modest 1.74% on nearly 2 million shares traded on Monday. There was no particular news from the fertilizer company yesterday. It was earlier this month that CF Industries reported first quarter sales, revealing a profit of $63 million or 27 cents a share. In the year ago quarter the company had reported a loss of $23 million, or 10 cents a share. Analysts had been expecting 23 cents a share. Net sales also dropped 7.7% YOY to $957 million but they missed the $1,051 million that analysts had been looking for. CEO Anthony Will optimistically said, "This is solid performance in a quarter where cold and wet weather delayed fertilizer purchases and applications across the Northern Hemisphere. It reflects strong execution by the CF team, capitalizing on lower North American natural gas costs and higher global nitrogen prices, despite the delayed spring and delayed shipments."
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