Thursday, 17 September 2009
Monsanto spinning so hard that its head faces backwards?
On 23 July 2008 the Molokai Dispatch published an editorial titled Monsanto Could be its Own Worst Enemy: Using too much water could force the company to downsize.
This editorial pointed out that:
State Energy Officials Convene in Annapolis to Tackle Green Jobs, Energy Efficiency… | Reuters
State Energy Officials Convene in Annapolis to Tackle Green Jobs, Energy Efficiency and Other Stimulus-Related Issues – Zoi, Rogers of U.S. Department of Energy Address National Association of State Energy Officials –
ANNAPOLIS, Md., Sept. 14 /PRNewswire/ — The largest-ever meeting of State Energy Officials convened in Annapolis, Md. today to discuss state and federal efforts to create green jobs, increase the nation’s energy efficiency and use of renewable energy, and tackle other issues related to the American Reinvestment and Recovery Act. Over 200 participants are attending the three-day Annual Meeting of the National Association of State Energy Officials, whose members typically are designated by governors to run their state and territory energy offices.
Hawaii and Related Agriculture Daily Charts for the week ending 09-11-09
The annual charts have been updated also. CLICK HERE to view.
Maui Land and Pineapple (MLP) 09-11-09
Calavo Growers (CVGW) 09-11-09
Alexander and Baldwin (ALEX) 09-11-09
iPath DJ AIG Sugar TR Sub-Idx ETN (SGG) 09-11-09
Monsanto (MON) 09-11-09
Syngenta (SYT) 09-11-09
Monsanto Plowed Down (MON)
It’s becoming increasingly harder to figure out whether Monsanto (NYSE: MON) is a bargain or a value trap. Yesterday, the agriculture giant announced less-than-stellar guidance for its 2010 fiscal year, which started at the beginning of the month.
It’s really a tale of two product lines for Monsanto. The seed and trait business is growing and competing well against — and sometimes with — DuPont (NYSE: DD), Dow Chemical (NYSE: DOW), and Syngenta (NYSE: SYT).
Its Roundup product, on the other hand, is headed in the wrong direction. Once a cash cow, Roundup now faces generic competition, and a glut of chemical herbicides in the supply chain is pushing down prices. Unlike drug companies such as Pfizer (NYSE: PFE) and Merck (NYSE: MRK), which can pretty much kiss off most of their sales once generic competition starts, Monsanto does expect to bring in $650 million to $750 million in gross profits from Roundup in the coming year. Still that’s a long drop from the nearly $2 billion in gross profits that the herbicide brought in during fiscal 2008.
In a couple of years, it’s not going to matter much: By 2012, the company expects that seeds and licensed traits will make up 85% of the company’s total gross profit. But in the meantime, the drop is hurting the bottom line.
Earnings per share, after adding back restructuring charges, are expected to come in between $3.10 to $3.30, a sharp decline from the $4.40 or so that’s expected from the recently completed year. Trading at a forward price-to-earnings ratio of more than 24, Monsanto is a little cheaper than we’ve seen in the past, but it doesn’t leave investors much breathing room, if Roundup sales continue to fall faster than expected.
Pacific Rim Summit to Highlight Biotechnology Tools for the Green Economy | Reuters
Federal aquaculture grants being made available to Hawaii farmers | San Francisco Examiner
HONOLULU — Aquaculture farmers in Hawaii are now able apply for federal stimulus money to help offset high feed prices experienced by the industry last year.
The state Department of Agriculture said Wednesday that the U.S. Department of Agriculture has allocated $150,000 as Hawaii’s portion of $50 million feed stimulus funding.
The Hawaii grants are being administered through the state department’s Aquaculture Development Program.
State officials say reimbursement amounts are limited to available funds. That means if the amount of eligible applications exceeds the grant amount available, recipients will receive a prorata adjusted amount.
Federal aquaculture grants being made available to Hawaii farmers | San Francisco Examiner