In Illinois, Archer Daniels Midland Company reported a 550 percent jump in quarterly net earnings to $446 million, reporting that “profit in ADM’s Oilseeds Processing segment increased $ 132 million due to improved margins and higher volumes,” and that “corn Processing profit increased $ 151 million on stronger bioproducts results.”
Overall, the company reported net earnings of $1.9 billion for the year ended June 30, 2010, up $246 million over the year ended June 2009.
The company reported that “Bioproducts profit in the quarter was up significantly from last year’s loss due to better ethanol and lysine margins. At present, ADM has begun production at its Cedar Rapids, Iowa, ethanol dry mill, which should be fully operational by the end of August. And, in Decatur, Ill., the Company is working through startup issues at its propylene glycol plant, which should be fully operational by end of the calendar year.”
SEE ALL HERE
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SkunK
PS As one can see from yesterday's blog it seems there has been some delay in getting the new trading symbol, which is part of a reverse split. Since I believe one reaches the most people starting an information campaign on a Tuesday (especially during the summer), if we do not get something real soon, we might see this pushed off exactly a week later so it starts on the same weekly cycle. But there are a lot of moving pieces to coordinate that we cannot see - so that's just my best . . . "guess". In any case I expect to get a filing in the next 48-36 hrs or so with an updated 8K letting us know the new timing. Again, since GreenShift gets the trading symbol from another entity, they cannot tell us anything until they themselves are told.
Wednesday, August 4, 2010
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4 comments:
Skunk,
When they do the 10/1 reverse split and then they change the name of the ticker symbol what happens? Does all of the stock that you currently own under GERS get transferred to the new symbol?
P.S. Been reading your blog for a little over a year now. LOVE IT!
Yes, it gets transferred and you will have one tenth of what you had. The price should be about ten times higher so your value should be the same. You do not have to do anything, it should change in your account. I don't know anyone who actually has stock certificates at their house anymore.
Where it goes from there - up or down - like always - depends on what the market thinks.
Good luck
I'm concerned about the Reverse Stock Split. Around 70% of stocks fall after their R/S. I expect GERS to keep falling until any news comes about their lawsuits. If an injunction is issued and damages awarded, then it's a game changer for this company. Otherwise, GERS will drown in debt.
With the GPRE deal, GERS is profitable. There's plenty of revenues to service debt now. Also, their recent financing deal will eliminate up to 45% of debt owed to Y/A.
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