Biofuels Stock and Financial Outlook for October 23: Stock futures up, biofuels sector downgrade on PEIX

Stock futures were up for all major indices around 0.3 percent this morning as strong corporate earnings reports helped in the broader markets.

Yesterday, the Biofuels Digest Indexâ„¢, a basket of public biofuels stocks, rose 0.13% to 103.01 even though Big Ethanol continued to take a hammering from analysts. Broadpoint Capital initiated coverage of Pacific Ethanol (PEIX) yesterday with a “Sell” rating on the stock. PEIX was down 1.70 percent yesterday, closing at $8.11, a 52-week low. Among pure-play ethanol stocks, VeraSun was also off by 0.25%, falling to $12.18 while Aventine Renewables rose 0.83 percent to reach $9.69.

Sector giant Archer-Daniels-Midland was down 0.17 percent to $34.96, and biofuel losers led winners 3 to 2 for the day.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

Biofuels Stock and Financial Outlook for October 9: Stock futures up, as investors weigh more ethanol plant construction halts and biodiesel conversions

Major stock indices were up slightly in overnight stock futures trading, as biofuels investors turn to consideration of an ethanol plant construction halt in Missouri and news that UPS will trial the ...

Biofuels Stock and Financial Outlook for October 15: Stock futures flat, oil prices at record, biofuels surging

Stock futures were flat this morning as US markets readied to open, as more than 15% of the S&P 500 prepares to release third quarter earnings this week. Crude oil futures reached a record $85.19 p...

Biofuels Stock and Financial Outlook for October 25: Stock futures up on corporate earnings as ethanol stocks mixed, biodiesel stronger

Stock market futures were up this morning on strong corporate earnings, while the outlook for biofuels continued to increasingly punish ethanol pure-plays. A report this morning identified a worldwide...

Biofuels Stock and Financial Outlook for October 17: Stock futures up on corporate earnings; oil hits record; biofuels flat

Stock futures were up this morning as strong corporate earnings results started pouring in, and major indices were up 0.3 to 0.8 percent in overnight trading. Nasdaq led the way on the particularly go...

Biofuels Stock and Financial Outlook for October 18: Stock futures mixed as banking sector weighs on Dow; more plant delays and cancellations announced by ethanol producers

Stock futures were mixed this morning as the Dow fell 35 points on news that Bank of America missed its earnings target, but the S&P 500 and Nasdaq futures were flat as investors await more third quar...

Biofuels Stock and Financial Outlook for October 16: Stock futures down as Fed hints at inflationary pressure and oil hits another new record

Stock futures were down this morning between 0.4 and 0.6 percent in response to suggestions by Federal Reserve Chairman Ben Bernanke that a weaker US dollar may have inflationary consequences. Meanwhi...