TORONTO, Aug. 31, 2024 (GLOBE NEWSWIRE) -- The Alcohol and Gaming Commission of Ontario (AGCO) has issued an immediate liquor licence suspension for Club 33, located at 33 Bowen Street in Hamilton. In the early hours of August 25, 2024, Hamilton Police were alerted to a shooting that occurred next to Club 33. The incident left three victims in their 20’s wounded, with two suffering serious gunshot injuries. The AGCO has been conducting a regulatory review regarding the establishment’s potential connection t ...

TORONTO, Aug. 28, 2024 (GLOBE NEWSWIRE) -- On Friday, August 16, 2024, the Alcohol and Gaming Commission of Ontario (AGCO) conducted an unannounced inspection at Mabelle Tuck Shop located at 24 Mabelle Avenue in the City of Toronto. The regulator had received information that various alcohol products were seen to be available for sale at the store. The AGCO Inspector found the licensee violating multiple retail market rules, including retailing alcohol, which is not permitted before the September 5, 2024 ef ...

The 600 Vario will come in four models (614 Vario, 616 Vario, 618 Vario and 620 Vario), ranging from 149 to 209 rated-engine hp. With its impressive performance in a compact package, the 600 Vario is ideal for small to medium-sized farms, capable of tackling anything from row crop farming to loader work to transportation."With the 600 Vario available in North America, we now have a complete line of machines perfect for any task on farms of any size," said David Soliday, Senior Marketing Manager at Fendt. "T ...

DULUTH, Ga., Aug. 26, 2024 /PRNewswire/ -- AGCO (NYSE: AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, announced today that it will participate in the 12th Annual Morgan Stanley Laguna Conference on Thursday, September 12, 2024. The conference will include a fireside chat with Damon Audia, Senior Vice President and Chief Financial Officer, at 3:45 p.m. Pacific Time. Investors may listen to a live webcast of the presentation by accessi ...

DULUTH, Ga., Aug. 23, 2024 /PRNewswire/ -- AGCO (NYSE: AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, announced today that it will participate in Citi's 2024 Global TMT Conference on Thursday, September 5, 2024. The conference will include a fireside chat with Eric Hansotia, Chairman, President and Chief Executive Officer, and Damon Audia, Senior Vice President and Chief Financial Officer, at 11:40 a.m. Eastern Time. Investors may li ...

DULUTH, Ga., Aug. 22, 2024 (GLOBE NEWSWIRE) -- AGCO Corporation (NYSE: AGCO), a global leader in the design, manufacture, and distribution of agricultural machinery and precision ag technology, announces launch of the Gleaner T Series. The GL T Series was created with a farmer-focused design while still staying true to the values that Gleaner has delivered for more than a century. Gleaner will showcase the GL T Series during the Farm Progress Show in Boone, Iowa, August 27-29, 2024. “This Series delivers l ...

DULUTH, Ga., Aug. 22, 2024 /PRNewswire/ -- AGCO (NYSE: AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, announced today that it will participate in the 2024 Jefferies Industrials Conference on Wednesday, September 4, 2024. The conference will include a fireside chat with Damon Audia, Senior Vice President and Chief Financial Officer, at 8:05 a.m. Eastern Time. Investors may listen to a live webcast of the presentation by accessing the ...

Investors in AGCO Corporation (AGCO) need to pay close attention to the stock based on moves in the options market lately. That is because the Sep 20, 2024 $120.00 Call had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could als ...

Core Viewpoint - AGCO Corporation is currently at the trough of its business cycle, with expectations for a recovery in agricultural equipment demand by FY25, contingent on macroeconomic improvements [2][5][7] Financial Performance - In Q2 2024, AGCO reported an adjusted EPS of $2.53, below consensus estimates of $2.91, with net sales declining 15% year-over-year to $3.25 billion, missing the consensus estimate of $3.5 billion [3] - Sales in South America dropped approximately 40%, particularly in Brazil, due to adverse weather and funding issues, while European sales decreased by 5% and North American sales fell by 18% [3] - The adjusted EBIT margin decreased to 10.3% from 13.1% in Q2 2023, prompting management to lower FY24 guidance for net sales to $12.5 billion, an expected decline of 13.3% year-over-year [3][4] Market Dynamics - The agricultural equipment market is expected to grow due to increasing global population and demand for agricultural products, despite current weak demand attributed to high inflation and poor consumer spending [4][7] - AGCO has cut global production by 23% in Q2 2024, with a significant 57% reduction in South America, and anticipates further cuts in H2 2024 [4] Future Outlook - The anticipated recovery in agricultural product demand is linked to potential interest rate cuts, easing inflation, and improvements in the labor market and housing situation [5][7] - AGCO's forward PE multiple has increased to 11x, indicating market expectations for a recovery, with a target share price of $140 based on projected FY26 earnings [5] Conclusion - Despite recent poor performance, AGCO maintains a buy rating due to the belief that the company is positioned for a future upcycle as macroeconomic conditions improve [7]

TORONTO, Aug. 09, 2024 (GLOBE NEWSWIRE) -- For reasons of public interest and safety, on August 8, 2024, the Registrar of the Alcohol and Gaming Commission of Ontario (AGCO) suspended the liquor sales licence of WAVE KTV, located at 8 Glen Watford Dr. Scarborough, Ontario. As of this date, this establishment is not legally allowed to sell or serve alcohol. The AGCO received information from the Toronto Police Service (TPS) that a serious incident allegedly occurred at WAVE KTV on July 19, 2024. Police respo ...