Agrium Inc. (AGU) reported adjusted net earnings of 29 cents per share in the third quarter of 2009, missing the Zacks Consensus Estimate of 32 cents. Year over year, earnings declined a significant 87% on lower volumes and prices. Revenues were down 41% year over year to $1.9 billion on weak corn prices and lower consumption of crop protection products at retail level.  Retail segment: Retail segment revenues plunged 25% to $1.2 billion in the quarter on a 41% decline in crop nutrient sales to $345 million due to a significant decline in crop nutrient prices. Crop nutrient volumes in the quarter remained flat. Gross profit from the crop nutrients business almost halved to $31 million. Crop protection sales were $768 million in the quarter, down 12% from the same period last year. The decline was driven by lower volumes for fungicides and lower pricing for glyphosate products. ...

Deerfield-based CF Industries Holdings Inc. (CF) filed a lawsuit against Terra Industries Inc. (TRA) to force the company to convene a shareholder meeting for a business combination being pushed by CF.

Fertilizer maker Terra responded that its board has decided to hold an annual meeting on Nov. 19. The company had postponed the meeting when larger rival CF Industries launched an unsolicited bid in April this year. In its statement, CF noted that Terra's last annual general meeting (AGM) was held nearly 16 months ago and according to law, AGMs must be held on an annual basis.

Terra repeatedly rebuffed CF’s takeover bid stating that the offer substantially undervalues the company. CF’s all-stock offer for Terra Industries has expired and the company does not plan to extend the offer because of opposition from Terra's board. However, CF stated that it continues to pursue Terra.

CF is offering a 35% premium in

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Calgary-based Fertilizer Company Agrium Inc. (AGU) has again extended its deadline for its hostile offer of $3.9 billion to buy out rival CF Industries Holdings Inc. (CF). Agrium has stretched the deadline to August 19 from the previous deadline of July 22, stating that only about 21% or 10.4 million shares of CF Industries have been tendered and not withdrawn from the exchange offer as of July 17, 2009.

On June 23, CF’s shareholders had tendered about 62% of their total outstanding shares in support of Agrium's current offer of $40 plus one Agrium share per CF share. This was at 59% premium to CF's closing price on February 24, 2009, when the offer was made. Soon after the tender results, Agrium had extended the deadline to acquire CF Industries to July 22, 2009.

CF had repeatedly rejected Agrium’s takeover offer. Despite two upward revisions in the offer price, CF

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The takeover battle between CF Industries Holdings Inc. (CF) and Agrium Inc. (AGU) took another turn when the former announced that it will consider a merger deal with Agrium, the hostile bidder on June 26, 2009. Stephen R. Wilson, Chief Executive, President and Chairman of CF Industries stated that Agrium should however make an attractive offer, which must interest the company's board.

Based in Deerfield, Illinois, CF had earlier repeatedly rejected Agrium's takeover offer. Despite two upward revisions in the offer price, CF had turned down Agrium's proposal on grounds of substantial undervaluation and associated regulatory issues. CF has stated that Agrium's final offer of about $4.4 billion continues to undervalue the company.

On June 23, CF's shareholders tendered 62% of their total outstanding shares in support of Agrium's current offer of $40.00 plus one Agrium share per CF share. Based on

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Terra Industries Inc. (...

The five best performing stocks on the Zacks #1 Rank List last week were: Terra Industries (TRA), CF Industries Holdings, Inc. (CF), Massey Energy Company (MEE), Innophos Holdings, Inc. (IPHS) and Bucyrus International, Inc. (BUCY).

Earnings estimates for Terra Industries (TRA) have gained 9.2% in two months and 1.4% in the past 7 trading days. In addition, analysts currently expect next year's EPS to advance approximately 21.2% from this year. Shares of TRA increased 13.6% for the week ended Aug 22, making this fertilizer company one of the top performing Zacks #1 Rank companies.

Despite lower commodity prices, agribusiness remains a hot sector, as evidenced by TRA's second-quarter report from late July. Fueled by higher selling prices for nitrogen products, the company announced that revenues jumped almost 22% year over year to $843.1 million from $692.5 million. Furthermore, earnings per share

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The five best performing stocks on the Zacks #1 Rank List last week were: Terra Industries (TRA), CF Industries Holdings, Inc. (CF), Massey Energy Company (MEE), Innophos Holdings, Inc. (IPHS) and Bucyrus International, Inc. (BUCY).

Earnings estimates for Terra Industries (TRA) have gained 9.2% in two months and 1.4% in the past 7 trading days. In addition, analysts currently expect next year's EPS to advance approximately 21.2% from this year. Shares of TRA increased 13.6% for the week ended Aug 22, making this fertilizer company one of the top performing Zacks #1 Rank companies.

Despite lower commodity prices, agribusiness remains a hot sector, as evidenced by TRA's second-quarter report from late July. Fueled by higher selling prices for nitrogen products, the company announced that revenues jumped almost 22% year over year to $843.1 million from $692.5 million. Furthermore, earnings per share

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The five best performing stocks on the Zacks #1 Rank List last week were: Terra Industries (TRA), CF Industries Holdings, Inc. (CF), Massey Energy Company (MEE), Innophos Holdings, Inc. (IPHS) and Bucyrus International, Inc. (BUCY).

Earnings estimates for Terra Industries (TRA) have gained 9.2% in two months and 1.4% in the past 7 trading days. In addition, analysts currently expect next year's EPS to advance approximately 21.2% from this year. Shares of TRA increased 13.6% for the week ended Aug 22, making this fertilizer company one of the top performing Zacks #1 Rank companies.

Despite lower commodity prices, agribusiness remains a hot sector, as evidenced by TRA's second-quarter report from late July. Fueled by higher selling prices for nitrogen products, the company announced that revenues jumped almost 22% year over year to $843.1 million from $692.5 million. Furthermore, earnings per share

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