Today’s Trade Alerts include: Verenium Corp. (Nasdaq: VRNM), BP Amoco Plc (NYSE: BP), Exxon Mobil Corp. (NYSE: XOM), Chevron Corp. (NYSE: CVX), PetroChina Company Limited (NYSE: PTR) and ConocoPhillips (NYSE: COP).
“Verenium Corp. (VRNM) shares dropped nearly 9% to $3.03 Thursday morning, retracting from yesterday’s 64% surge after news that the company entered a partnership with UK-based energy giant BP Plc to accelerate the commercialization of cellulosic ethanol. Verenium, together with its subsidiaries, engages in the development and production of specialty enzyme products, and production and commercialization of biofuels...
“Under the partnership, BP will pay Verenium $90 million over the next 18 months for the rights to Verenium's cellulosic ethanol production technology. In turn, BP will develop commercially viable, environmentally sound cellulosic ethanol plants in the United States and possibly abroad…
“Verenium operates in two segments, Biofuels and Specialty Enzymes. The Biofuels segment focuses on the production and commercialization of biofuels, primarily ethanol from cellulosic biomass, while the Specialty Enzymes segment develops customized enzymes for use in alternative fuels, specialty industrial processes and animal nutrition and health markets...”
“BP Amoco Plc (BP) shares slightly rose Thursday morning, up 1% to $62.20. BP provides fuel for transportation, energy for heat and light, retail services and petrochemicals products…
“The company recently said it has formed a partnership with Verenium Corp. to speed development and sales of alternative motor fuel ethanol made from non-food sources…
“The $90 million partnership is a combination of technical abilities and operations of the companies to advance development of plants to make cellulosic ethanol, which is made from the tough woody bits of sugar cane and corn crop waste and hardy crops like switchgrass…”
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Beacon Equity Research Disclosure
The analysts contributing to this report do not hold any shares of Verenium Corp. (Nasdaq: VRNM). Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. The analyst(s) writing this report recognize and aspire to all of the CFA Institute Guidelines for Independent Research. Beacon Equity Research (“Beacon”) certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analysts in the report. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.
Source: BeaconEquity.com
Beacon Equity Research
Jeff Bishop, (469)-252-3505
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