On Monday, Monsanto Company (NYSE:MON)’s shares inclined 0.11% to $113.92.
Monsanto Company (MON) reaffirmed its commitment to a constructive process to negotiate a mutually beneficial combination as part of the company’s proposal to combine with Syngenta (SYNN.VX) in a cash and stock transaction valued at 449 CHF per share. Monsanto’s proposal would provide Syngenta shareholders with a substantial premium of more than 43 percent over the 314 CHF unaffected share price on April 30, 2015 and a more than 45 percent premium to Syngenta’s 52 week volume weighted average share price, in addition to noteworthy further value creation through ongoing ownership in the combined company. Monsanto has projected to Syngenta a new $2 billion reverse break-up fee payable by Monsanto if it is unable to obtain necessary global regulatory approvals.
Monsanto reiterated that the combined strengths of both companies will accelerate innovation and enhance choice for farmers around the world, unlock improved scale and reach, and provide the opportunity to offer farmers integrated solutions across a broader set of crops, geographies and production practices.
Monsanto Company, together with its auxiliaries, provides agricultural products for farmers worldwide. It operates in two segments, Seeds and Genomics, and Agricultural Productivity. The Seeds and Genomics segment produces row crop seeds, counting corn, soybean, cotton, and canola seeds principally under the DEKALB, Channel, Asgrow, and Deltapine brands; and vegetable seeds comprising of tomato, pepper, melon, cucumber, pumpkin, squash, beans, broccoli, onions, lettuce, and other seeds under the Seminis and De Ruiter brands.
United Technologies Corporation (NYSE:UTX)’s shares dropped -0.68% to $116.20.
Granite State Manufacturing (GSM), an Allard Nazarian Group (ANG) Company and a leading concept-to-product defense manufacturing solutions provider, has been selected to deliver Advanced Integrated Low Pressure Electrolyzer (AILPE) Frame Assemblies for the Block IV Virginia Class Submarine program. GSM will work with UTC Aerospace Systems, a unit of United Technologies Corp. (UTX) to build the AILPE frame assemblies.
GSM was awarded the AILPE contract from UTC Aerospace Systems and has already begun production. GSM will deliver one frame assembly unit every six months through 2018. GSM produces multiple other systems for the Block IV Virginia Class Submarine program and possesses the unique capability to provide these and other systems in future opportunities such as Block V Virginia Class Submarine program and the retrofitting of the current U.S. submarine fleet.
The Block IV Virginia Class Submarine is a nuclear-powered, fast attack submarine designed for a wide variety of naval missions. They are designed and engineered to need fewer shipyard maintenance availabilities, allowing extended full-length deployments at sea. GSM has offered several components to the Block IV.
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; modernization products to upgrade elevators and escalators; and maintenance and repair services.
At the end of Monday’s trade, FuelCell Energy Inc (NASDAQ:FCEL)‘s shares dipped -0.82% to $1.21.
FuelCell Energy, Inc. (FCEL), a global leader in the design, manufacture, operation and service of ultra-clean, efficient and reliable fuel cell power plants, recently stated financial results for its second quarter ended April 30, 2015.
Financial Results
FuelCell Energy (the Company) stated total revenues for the second quarter of 2015 of $28.6 million contrast to $38.3 million for the comparable prior year period. Revenue components comprise:
- Product sales of $20.2 million for the current period contrast to $27.7 million for the comparable prior year period
- Service agreements and license revenues of $4.6 million for the current period contrast to $7.2 million for the comparable prior year period
- Advanced technologies contract revenues of $3.8 million for the current period contrast to $3.4 million for the comparable prior year period
The gross profit generated in the second quarter of 2015 totaled $2.0 million and the gross margin for the period was 7.1 percent, contrast to gross profit of $1.6 million and gross margin of 4.2 percent for the second quarter of 2014. The year-over-year improvement in gross margin reflects the benefit of continued manufacturing efficiencies and cost reduction actions together with a greater proportion of higher margin installation services, partially offset by a $0.7 million inventory charge. The service contract for the final legacy 250 kilowatt installation was ended prior to the contract term on mutual consent with the customer, leading to the write-off of associated spare parts inventory. Operating expenses for the current period totaled $10.8 million contrast to $10.4 million for the prior year period.
FuelCell Energy, Inc., together its auxiliaries, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed power generation. The company is also involved in the development, design, production, and sale of fuel cell products under the Direct FuelCell name. Its power plants electrochemically produce electricity and heat using various fuels, counting natural gas, methanol, diesel, biogas, coal gas, coal mine methane, and propane.
Hess Corp. (NYSE:HES), ended its Monday’s trading session with -1.65% loss, and closed at $64.99.
Hess Corp. (HES) declared it has been ranked first among U.S. energy companies on the 2015 Newsweek Green Rankings – U.S. 500, one of the world’s most recognized assessments of corporate environmental performance.
The rankings reflect the sustainability and environmental impact of the 500 largest publicly traded companies in the United States by market capitalization. Hess ranked No. 63 across all sectors.
Based on research from Corporate Knights Capital, together with a “Green Revenue” score from HIP (Human Impact + Profit) Investor Inc., the 2015 ranking features eight indicators that are used to assess and measure environmental performance. The U.S. 500 full list and a detailed description of the methodology are accessible at http://www.newsweek.com/green-2015/top-green-companies-u.s.-2015.
In April, Hess was ranked first among oil and gas companies on Corporate Responsibility magazine’s prestigious list of 100 Best Corporate Citizens for 2015. In January, the company was the only U.S. oil and gas producer named to the 2015 Global 100 Most Sustainable Corporations list.
Hess Corporation, an exploration and production company, develops, produces, purchases, transports, and sells crude oil, natural gas liquids, and natural gas. The company primarily operates in the United States, Denmark, Equatorial Guinea, the Joint Development Area of Malaysia/Thailand, Malaysia, and Norway. As of December 31, 2014, it had total proved reserves of 1,431 million barrels of oil equivalent. The company was founded in 1920 and is headquartered in New York, New York.
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