Key Points Oregon-based tru Independence sold 152,855 shares of FMC in the fourth quarter. The quarter-end position value decreased by $5.14 million, reflecting the complete exit. The position previously represented 1.3% of fund AUM last quarter; FMC is no longer among the fund’s 132 reportable holdings. These 10 stocks could mint the next wave of millionaires › On January 22, tru Independence reported selling out of FMC (NYSE:FMC), liquidating 152,855 shares in a transaction estimated at $5.14 ...

Core Insights - Corteva Agriscience has launched Telbek™ PRO, an innovative fungicide designed to provide unprecedented protection against Fusarium head blight and late-season leaf diseases for Canadian wheat growers [1][3] Product Details - Telbek™ PRO utilizes Adavelt™ active and features dual modes of action, Group 3 and Group 21, which help delay resistance development while effectively controlling Fusarium head blight and other diseases such as Septoria, leaf and stripe rust, tan spot, and glume blotch [2] - Early field trials indicate that Telbek™ PRO enhances yield stability and results in cleaner grain, marking a significant advancement in fungicide technology for Canadian cereal growers [3] Market Availability - Telbek™ PRO is now available through Corteva representatives across Canada, ready for the 2026 planting season [4] Company Overview - Corteva, Inc. is a global pure-play agriculture company focused on delivering innovative solutions to address pressing agricultural challenges, with a diverse mix of seed, crop protection, and digital products [4]

Core Insights - Corteva Inc. has entered a multi-million-dollar joint venture with Hexagon Bio to develop new crop protection solutions inspired by nature [1][2] - The partnership aims to combine Corteva's billion-dollar nature-inspired crop protection franchises with Hexagon Bio's natural product discovery platform, utilizing microbial genetics, AI, chemistry, and synthetic biology [2] - The collaboration is expected to enhance Corteva's crop protection innovation and meet the growing demand for sustainable agricultural solutions [3] Company Overview - Corteva, Inc. is a global pure-play agriculture company that offers innovative seed, crop protection products, and digital solutions to enhance productivity and sustainability in farming [4] - The company's innovations include nitrogen stabilizers, phosphorus-unlocking microbes, and nutrient-guidance platforms, which help improve yields and soil health while reducing fertilizer use [4] Market Analysis - Citi analyst Patrick Cunningham has reaffirmed a Hold rating on Corteva with a price target of $70, while Jefferies has reiterated a Buy rating with a price target of $85 [3] - The positive outlook from analysts follows the European Union's provisional agreement on new genomic techniques, which is expected to accelerate product launches significantly [3]

Core Insights - ADAMA Ltd. and BASF have entered a strategic co-development and commercialization agreement for the fungicide active ingredient Gilboa, aimed at providing new disease management solutions for European cereal growers [1][2][3] Group 1: Partnership Details - The collaboration will leverage ADAMA's innovation and formulation expertise alongside BASF's development capabilities and market access, ensuring faster delivery of next-generation solutions to farmers [2][5] - Each company will independently manage its own concepts, pricing, sales, and market strategies [2] Group 2: Product Development and Launch Timeline - Pending product registration approvals, Gilboa-based formulations for wheat are expected to launch in Great Britain in 2027, followed by broader European launches in 2029 [5] Group 3: Market Context and Need - European farmers are facing increasing regulatory pressures and the phase-out of existing active ingredients, creating a demand for effective and reliable crop protection tools [3] - Gilboa offers a novel mode of action for cereals, classified under FRAC Group 32, and is designed to provide broad-spectrum, long-lasting disease control solutions [3] Group 4: Company Profiles - ADAMA Ltd. is recognized as a global leader in crop protection, focusing on innovative and sustainable solutions to address challenges faced by farmers [6] - BASF Agricultural Solutions emphasizes sustainability and invests significantly in R&D, with a reported sales figure of €9.8 billion in 2024 [8]

Core Insights - In uncertain economic times, dividend-paying stocks are considered a safer investment option due to their potential for consistent payouts regardless of market fluctuations [1][2] Company Summaries UnitedHealth Group - UnitedHealth Group's share price has decreased by 36% year-to-date, primarily due to a Department of Justice investigation for alleged Medicare fraud [3][4] - The company is viewed as "too big to fail," and its valuation may become more attractive for investors believing in its recovery [3] - The growing and aging U.S. population will continue to drive demand for healthcare services [3] - Current market capitalization is $284 billion, with a recent dividend yield of 2.73%, and total yield including share buybacks is approximately 5.75% [5][6] Bank of America - Bank of America is another holding of Berkshire Hathaway, which owns about 8% of the bank [7] - The bank has been reducing its position, possibly due to decreasing interest rates affecting profitability [7] - Despite this, Bank of America has growth drivers in brokerage accounts and wealth management services, which are less impacted by interest rates [9] - The recent dividend yield is 2.15%, with total annual payout per share increasing from $0.20 in 2015 to $1.06 recently [10] Lennar - Lennar is a major American homebuilder, benefiting from the ongoing demand for affordable housing [11] - Falling interest rates could stimulate home buying, positively impacting Lennar's business [13] - The company has a backlog of nearly 17,000 homes valued at $6.6 billion and has repurchased $507 million worth of shares [14] - Recent dividend yield stands at 1.7%, with significant shareholder value enhancement through stock buybacks [14] Vanguard International High Dividend Index ETF - The Vanguard International High Dividend Index ETF focuses on dividend-paying stocks outside the U.S., appealing to investors concerned about the domestic market [15] - The ETF has a dividend yield of 3.9% and a five-year average annual return of 14% [16] FMC - FMC, a specialist in crop protection and nutrition, has a high dividend yield of 17% but has seen a stock price drop of nearly 73% year-to-date [17][18] - The company recently cut its per-share dividend by 92%, indicating financial distress [18] - FMC's challenges are linked to its India business, which is being divested, making it a riskier investment compared to other alternatives [18]

Core Insights - Syngenta and Amoéba SA have signed a Memorandum of Understanding to develop and commercialize biocontrol solutions for the EU and UK markets, focusing on cereals and field crops [3][4] - The partnership aims to address the challenge of increasing pest resistance and provide sustainable farming solutions [3][4] - The initial focus will be on combating major wheat diseases, specifically septoria tritici blotch and yellow rust, which significantly impact wheat yields and incur substantial economic losses [4] Company Overview - Syngenta is a global leader in agricultural innovation, committed to developing technologies that empower farmers and enhance sustainability [7] - Amoéba, founded in 2010, specializes in biocontrol applications using amoebae and aims to be a major player in microbiological risk treatment [8][9] - Amoéba's biocontrol solution, based on the amoeba Willaertia magna, received EU approval in 2025 and was awarded the Bernard Blum Gold Medal for its potential [5][9] Market Impact - The collaboration is expected to enhance the sustainability of farming practices and provide relief to farmers facing a shrinking toolbox of crop protection technologies [3][4] - In Germany, septoria tritici blotch causes yield losses of 5-50%, resulting in annual costs of €1.5 billion, while yellow rust can reduce yields by 10-70% [4] - The biocontrol market is increasingly important as farmers seek alternatives to chemical products due to rising pest resistance [9]

Core Points - Ronaldo Pereira, president of FMC Corporation, will step down effective December 15, 2025, after 28 years with the company [1][2] - The decision for Pereira's departure was made by mutual agreement with Pierre Brondeau, chairman and CEO [1][2] - Pereira will assist in an advisory role until his departure to ensure a smooth transition [2] Company Overview - FMC Corporation is a global agricultural sciences company focused on providing solutions for food, feed, fiber, and fuel production [3] - The company emphasizes innovative crop protection solutions, including biologicals, crop nutrition, and digital agriculture [3] - FMC is committed to developing new active ingredients and technologies that are environmentally friendly [3]

Group 1 - FMC Corporation is recognized as one of the 10 Most Promising Green Stocks according to Wall Street Analysts, supported by strong hedge fund backing and favorable analyst ratings [1] - At the Jefferies Mining and Industrials Conference 2025, FMC emphasized its focus on innovation, particularly in expanding its biological portfolio and introducing new active components Fluentapir and Isoflex to address the expiration of its Rynaxypyr patent [2] - FMC reported improved inventory control and described current market conditions as "normalized," reiterating its Q3 and Q4 forecasts, with September sales and the Latin American season identified as key growth drivers [3] Group 2 - In Q2 2025, FMC posted sales of $1.05 billion, exceeding expectations by 5%, and an EPS of $0.69, up from $0.62, while highlighting advancements in Brazil related to cost efficiency and new product introductions [4] - FMC Corporation operates in the agricultural sciences sector, providing crop protection products such as insecticides, herbicides, and fungicides to farmers across various regions including Latin America, North America, Europe, the Middle East, Africa, and Asia [5]

Corteva Investor Call Summary Company Overview - **Company**: Corteva (NYSE: CTVA) - **Date of Call**: October 01, 2025 - **Key Speakers**: Chuck Magro (CEO), David Johnson (CFO) Core Points and Arguments Financial Performance - Corteva's 2025 full-year guidance remains intact, with expectations for 2026 EBITDA at approximately $4.1 billion at the midpoint, consistent with prior expectations [4][5] - Since its establishment as a standalone public company in 2019, Corteva has achieved an 11% CAGR in annual operating EBITDA and increased EBITDA margins by over 700 basis points [6] - The company has returned $7 billion in cash to shareholders and delivered a total shareholder return (TSR) of about 200% during the same period [6] Product Development and Innovation - Corteva launches around 500 new products annually, with new products expected to generate over $5 billion in additional revenue [7] - The company is a leader in biologicals and is developing new growth platforms, including biofuels, hybrid wheat, and gene editing, which are projected to be multibillion-dollar revenue streams [7][8] Strategic Separation Announcement - Corteva plans to separate into two companies: one focused on crop protection (CP) and the other on seed business (SpinCo) [11] - The separation is driven by the belief that both businesses will benefit from operational freedom and the ability to innovate independently [11][12] - The separation is expected to maximize long-term value for shareholders, farmers, and employees, with manageable dis-synergies anticipated [13] Market Outlook - The crop protection market is expected to return to growth, with Corteva's CP business outperforming the market through recent competitive conditions [15] - The CP market values effective, differentiated technology, particularly in the expanding biological segment [16] - The company anticipates that being a pure play in crop protection will enhance operational efficiency and innovation [17] Future Growth and Opportunities - SpinCo is expected to expand into new markets beyond corn and soybeans, including fruits, vegetables, and other row crops, leveraging advanced genetics [19] - The hybrid wheat technology, launching in 2027, is projected to increase yields by 10% to 20%, representing a significant revenue opportunity [28] - Both companies will focus on capital allocation strategies designed to maximize growth and value creation [29] Organizational Structure and Leadership - Upon separation, Greg Page will become Chair of the CP business (Nucor Teva), while Chuck Magro will serve as CEO of SpinCo [30] - The separation is designed to ensure continuity in leadership and leverage the expertise of both companies [30] Financial and Legal Considerations - The separation is intended to qualify as a tax-free spin-off for U.S. tax purposes, with both companies expected to maintain investment-grade credit ratings [31] - Legacy liabilities, including historical DuPont pension plans and PFAS obligations, will remain with the CP business [86][101] Additional Important Insights - The company has a strong pipeline with over $9 billion in potential new products, including a novel fungicide targeting a significant pest problem in Brazil [22] - Corteva's CP business has increased its EBITDA margins by 180 basis points since 2020, while many peers have seen declines [23] - The separation is expected to be completed in 2026, with a focus on minimizing disruption and complexity during the transition [33] This summary encapsulates the key points discussed during the Corteva investor call, highlighting the company's strategic direction, financial performance, and future growth opportunities.

FMC Corporation Conference Call Summary Industry Overview - The current market is characterized as normalized, with more controlled inventory levels compared to the previous year, indicating a more predictable demand environment [2][3] - Demand is described as softer, influenced by farm income and geopolitical situations, but is expected to remain stable [2][3] Company Performance and Guidance - FMC Corporation is maintaining its guidance for Q3 and Q4, with expectations aligning with previous earnings calls [2][3] - The company anticipates that the third quarter will unfold as expected, with September being a critical month for Latin America and preparation for North America [3] Future Outlook - Visibility for 2026 is expected to improve by the end of October, with a focus on the outcomes of the North American and Latin American seasons [4] - FMC is confident in its growth portfolio, particularly with new active ingredients like fluindapyr and isoflex, which are in high demand [5][6] Product Development and Market Strategy - FMC is focusing on a core portfolio of products, with a strong emphasis on new active ingredients and biologicals [5][6] - The company is preparing for the entry of generics in the market, particularly with rynaxapyr, and believes it is well-positioned for this transition [7] Regulatory Environment - The situation in India is not seen as a template for other markets due to its unique complexities, and FMC is adapting its strategy accordingly [8][9] - In the EU, there is a push from growers for new active ingredients due to a lack of available tools, which may lead to regulatory changes [17][20] Innovation and Technology - FMC is betting on new technologies and has a robust pipeline of new products, including four new active ingredients and five biologicals [9][39] - The company is actively involved in precision agriculture and is adjusting its product labels for drone applications to enhance farmer efficiency [30][31] Market Challenges - Selling new technology to growers is challenging, especially in a market where no new products have been introduced for decades [13] - The company acknowledges the need for extensive training of the sales force to effectively promote new products [13][16] Conclusion - FMC Corporation is positioned for growth with a strong product pipeline and a focus on innovation, while navigating a complex regulatory landscape and market dynamics [39][40]