Goldman Sachs und Pacific Ethanol

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neuester Beitrag: 11.03.22 12:05
eröffnet am: 14.10.12 12:57 von: Franke Anzahl Beiträge: 6988
neuester Beitrag: 11.03.22 12:05 von: pe_ethanol Leser gesamt: 776678
davon Heute: 42
bewertet mit 15 Sternen

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10 Postings, 3582 Tage lafersind alle positioniert

14.03.13 16:44
wir warten auf den knall  

11328 Postings, 6836 Tage FrankeDas hoff ich auch

14.03.13 16:51

11328 Postings, 6836 Tage FrankeKommt jetzt das Übernahmeangebot?

14.03.13 20:10

11328 Postings, 6836 Tage FrankeHmm heut ist sonderbar...

14.03.13 20:17

4710 Postings, 6471 Tage martin30smGehst du wirklich von einer Übernahme aus?

14.03.13 20:17
Zu welchem Preis?  

4710 Postings, 6471 Tage martin30smWarum lässt man sich mit den Zahlen so Zeit?

14.03.13 20:19

11328 Postings, 6836 Tage FrankeHmm keine Ahnung

14.03.13 20:21
Und warum ist der Kurs bei 0,4 angenagelt? Fast kein Umsatz?..Übernahmeangebot? Und Köhler will das nicht und hält sich seine Asse im Ärmel?  

11328 Postings, 6836 Tage FrankeStell dir vor

14.03.13 20:23
Die kommen mit einem Angebot von 0,50 ..und dann sagt der Köhler...neee, und die Zahlen auf den Tisch und maderaeröffnung....dann kannst schauen wohin der Kurs geht..ob dann noch ne feindlich Übernahme möglich ist?  

4710 Postings, 6471 Tage martin30smFragen über Fragen...

14.03.13 20:23
Die Bombe wird hoffentlich bald zu unseren Gunsten platzen...  

11328 Postings, 6836 Tage FrankeAuch in den us Foren

14.03.13 20:24
Ist es verdammt ruhig... Keine baser mehr  

4710 Postings, 6471 Tage martin30smAlle warten auf die Zahlen und

14.03.13 20:27
nichts kommt, als würden sie zurückgehalten...  

82 Postings, 3645 Tage Lou8630Die werden noch kommen in diesem Monat und

14.03.13 21:15
je nach dem wie sie ausfallen, es wird entsprechende Kursausschläge geben.

Ich hoffe natürlich auf positive Ergebnisse, und bis zu den Zahlen werde ich auf

jeden Fall dabei bleiben.

Viel Glück allen hier Investierten.  

4710 Postings, 6471 Tage martin30smVielleicht geht ja heute was!

15.03.13 11:47
Freitag ist meistens ein guter Tag :-)  

955 Postings, 6053 Tage MobydickDOIMMorgen Samstag 16.03.2012 was soll das denn ?????

15.03.13 15:08
Mar 16, 2013 / 12:00AM Earnings Dec 2012 Pacific Ethanol Earnings Release

11328 Postings, 6836 Tage FrankeAngeblich die vorankündigung

15.03.13 16:20

438 Postings, 3644 Tage DieserBerndAm Montag

15.03.13 16:21

stehen dann alle in den Startlö oder Verkaufen ist nur die Frage, Ich geh schon mal beten 


11328 Postings, 6836 Tage FrankeTja Börse eben

15.03.13 16:30
Der Umsatz noch geringer als gestern..und die basher geben alles...Zahlen und buyout?  

11328 Postings, 6836 Tage FrankeUnd wieder 0,40

15.03.13 17:29

466 Postings, 4812 Tage hans1312wo geht es ab

17.03.13 09:19
Montag hin hat schon jemand ein Gefühl  

11328 Postings, 6836 Tage FrankeJedenfalls ne starke Schlussauktion in USA

17.03.13 10:26

4710 Postings, 6471 Tage martin30smVor den Zahlen wird sich leider nicht

17.03.13 13:59
viel tun! Aber es kann sich ja fast minütlich ändern!

Uns allen eine gute Handelswoche!  

10 Postings, 3582 Tage laferes bleibt noch viel Zeit

17.03.13 17:42

PEIX   Q4 2012 Q4 2012 PACIFIC ETHANOL INC Earnings Release 22-Mar-13 - 29-Mar-13  

11328 Postings, 6836 Tage FrankeZusammenfassung

17.03.13 18:07
Keine Sau weiß Bescheid. ...aber bald  

531 Postings, 4071 Tage kwhistlernews vom Freitag

18.03.13 09:41
Guten Morgen


Squeezed Ethanol Makers Looking Elsewhere for Profitability
By Howard Rothman - March 15, 2013 | Tickers: ADM, CLC, GPRE, PEIX, VLO | 9 Comments

Howard is a member of The Motley Fool Blog Network -- entries represent the personal opinion of the blogger and are not formally edited.

If you were watching ethanol company stocks over the last five years, you?re probably suffering from a serious case of whiplash. They boomed with the fuel?s fortunes in 2008, crashed like everything else in 2009, recovered impressively in 2010, and then fell in both 2011 and 2012. So far this year most are up between 20% and 40%, but few investors believe these gains will prove sustainable.

Producers in this $40 billion industry don?t, either. So most of the biggest have begun downsizing their reliance on ethanol as fuel ? and turning to other related products that, they hope, will offer better margins and longer-term viability.

Margin squeeze at record levels

The economics of ethanol production have always been dicey. This is largely because the industry is at the mercy of many factors outside its control. Volatile corn and energy prices pressure margins. Fickle acceptance of ethanol levels in gasoline by consumers and oil refiners keep demand from significantly expanding. Waning government support threatens to undermine the demand that does exist.

In years past, ethanol makers took the offensive by opening new plants and boosting production. This countered at least some of the margin issue, as a growing capacity was needed to meet the slowly increasing amounts of ethanol the government required annually in the nation?s auto fuel supply. Last year, plants in 28 states produced more than 13 billion gallons.

The biggest players feasted on this growth. Archer Daniels Midland (NYSE: ADM), a large, diversified agricultural company, focused on ethanol and quickly became the largest producer in the industry with an annual capacity of 1.72 billion gallons. The privately held POET parlayed some innovative ideas into production levels only slightly lower. Valero Energy (NYSE: VLO) bought 10 state-of-the-art ethanol plants and instantly became the country?s third-largest producer. Green Plains (NASDAQ: GPRE), a vertically-integrated producer based in Nebraska, built itself into the largest of the public ethanol pure-plays. Pacific Ethanol (NASDAQ: PEIX) grew by opening plants near customers on the West Coast rather than corn suppliers in the Midwest ? although this differentiation has subsequently resulted in more problems than benefits.

To anyone paying attention, though, it?s obvious that the game has changed for everyone. Analysts expected U.S. ethanol demand to rise to 15 billion gallons in the next few years, but resistance from consumers, automakers and oil companies to putting more than 10% ethanol blends into passenger cars puts that target in serious jeopardy. Producers dramatically reversed course and cut production last year as the Midwest drought took a big toll on corn supply, at one point idling 36 of the 211 ethanol plants in the U.S. and eliminating 15% of the nation?s installed capacity.

But even this wasn?t enough to slow margin erosion, which has reached crisis levels with ethanol producers now losing money on every gallon sold since January 2011 and their losses hitting new records almost every month.

Top players forging new strategies

But the leaders are not standing still. Top producer ADM, for example, has aggressively reduced capacity in recent months and one of the plants that it idled, in Wallhalla, N.D., may be closed for good. In its recent earnings report, ADM officials said they believe ethanol margins have hit bottom and will recover as 2013 wears on ? but they also said the company will be increasing its oilseed processing operations to make up for the profits lost in ethanol.

Number-three Valero cut production as well, and can rely even more than ADM on diversification through its petroleum operations.

POET and Green Plains also idled multiple plants last year. But with their narrow focus putting them more at risk than ADM and Valero, these two are trying to pull themselves out of the ethanol slump by remaking some of their plants into refineries that can produce something other than the fuel.

POET is among several producers now turning a byproduct of the ethanol process into a protein called ?zein,? which can be used in packaging, adhesive and other industrial applications. It is also developing a corn-based fiber product that could compete, as soon as 2014, with oat and wheat in cereal and various baked goods.

Green Plains is moving into related new directions as well, but in a significantly different way. It has partnered with filtration maker Clarcor (NYSE: CLC) and a private wastewater treatment firm called bioprocessH2O to capture the carbon dioxide released when starch is fermented during ethanol production. It plans to use this to grow algae for production of fish food and various chemicals, and projects sales will provide profits during ethanol downturns.

Green Plains also plans to rely more heavily on its sales of corn oil, which are currently the one profitable aspect of its operation.

The bottom line

Diversity may help some of these producers weather the ethanol squeeze, but any potential stock impact from these moves is still unclear and sure to vary.

ADM and Valero are best positioned, if only because ethanol has always been just one part of their portfolios ? and a relatively small one at that. POET remains perhaps the most innovative of this group, but unless it goes public it will not be of interest to investors. And no matter what it tries, Pacific Ethanol will remain challenged by its daring decision to locate far from Midwest cornfields.

Anyone with a soft spot for ethanol, then, should be focused on Green Plains. It?s remained a market leader by combining relatively low-cost production methods with solid capitalization, minimal debt, good risk management and a location close to corn supplies. Its foray into algae may help it weather tight ethanol margins, and corn oil sales could continue to grow, but it will first have to get through a coming year that looks very challenging for ethanol.  

112 Postings, 3713 Tage staaalinnews

19.03.13 13:03

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