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Breaking Stock Market and Financial News

Archer Daniels misses on fourth-quarter EPS, beats on revenue

MarketWatch Market Pulse - Tue, 02/07/2017 - 07:15

Archer Daniels Midland Co. reported fourth-quarter net income of $424 million Tuesday, or 73 cents per share, down from $718 million, or $1.19 per share in the year-earlier period. It reported adjusted earnings per share of 75 cents, below the FactSet consensus of 77 cents. Revenue was $16.5 billion, up from $16.45 billion in the year-earlier period and above the FactSet consensus of $16.48 billion. The company raised its dividend to 32 cents from 30 cents, to be payable on March 14, 2017 to shareholders of record on Feb. 21, 2017. Shares of Archer-Daniels have fallen 6.4% in the past three months, compared to the S&P 500's gain of 9.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Mosaic slashes dividend, as profit and sales decline

MarketWatch Market Pulse - Tue, 02/07/2017 - 07:03

Mosaic Co. said Tuesday it was cutting its annual dividend to 60 cents a share, down 45% from a previous rate of $1.10 a share, as the fertilizer company looks to maintain a strong financial position as the market gradually recovers. The company reported fourth-quarter earnings that declined to $12 million, or 3 cents a share, from $155 million, or 44 cents a share, in the same period a year ago, as lower phosphate raw material costs offset lower phosphate and potash prices. The results included a negative impact of 23 cents a share from "notable items." The FactSet consensus for earnings per share was 13 cents. Revenue fell to $1.86 billion from $2.16 billion, but beat the FactSet consensus of $1.80 billion. Phosphate sales volume of 2.5 million tonnes beat the company's guidance of 2.1 million to 2.4 million tonnes, while potash sales volume of 2.0 million tonnes was in line with guidance of 1.9 million to 2.0 million tonnes. "While we are confident the market bottom is behind us, the pace of improvement is expected to be gradual," said Chief Executive Joc O'Rourke. "s a reflection of our commitment to investors to maintain a strong financial position, we have reduced our annual dividend payout to $0.60 per share." The stock, which was still inactive in premarket trade, has run up 29% over the past 12 months while the S&P 500 has climbed 22%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Islamic State sees chance to revive fortunes in Trump presidency

Top Reuters News - Tue, 02/07/2017 - 06:35
BEIRUT (Reuters) - President Donald Trump has set out to crush Islamic State when it is already at a low ebb, but Islamists and some analysts say his actions could strengthen the ultra-hardline group by creating new recruits and inspiring attacks on U.S. soil.

'Is Germany tired of Merkel?' asks mass-selling newspaper Bild

Top Reuters News - Tue, 02/07/2017 - 06:06
BERLIN (Reuters) - Germany's mass-selling newspaper Bild openly questioned whether voters have had enough of Chancellor Angela Merkel on Tuesday after a poll showed the Social Democrats (SPD) pulling ahead of her conservatives.

China, United States cannot afford conflict: Chinese foreign minister

Top Reuters News - Tue, 02/07/2017 - 05:14
SYDNEY (Reuters) - There would no winner from conflict between China and the United States, Chinese Foreign Minister Wang Yi warned on Tuesday, seeking to dampen tension between the two nations that flared after the election of U.S. President Donald Trump.

Khamenei tells Trump 'no enemy can paralyze' Iran

Top Reuters News - Tue, 02/07/2017 - 05:02
DUBAI (Reuters) - Iranian Supreme Leader Ayatollah Ali Khamenei dismissed U.S. President Donald Trump's warning to Tehran to stop its missile tests, and called on Iranians to respond to Trump's "threats" on Friday's anniversary of the 1979 revolution.

Syria's Assad sees Trump's Islamic State view as promising

Top Reuters News - Tue, 02/07/2017 - 04:20
AMMAN (Reuters) - Syrian President Bashar al-Assad said U.S. President Donald Trump prioritizing the fight against jihadists by Islamic State was promising although it was too early to expect any practical steps, state news agency SANA reported on Tuesday.

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