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CF Industries Holdings: S&P 500’s Top Gainer on September 18

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Top gainers

The S&P 500’s top gainers on September 18, 2017, were:

  • CF Industries Holdings (CF) rose 6.7%
  • Adv Micro Devices (AMD) rose 4.5%
  • NVIDIA (NVDA) rose 4.1%
  • NRG Energy (NRG) rose 4%
  • Northrop Grumman (NOC) rose 3.4%
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CF Industries Holdings

CF Industries Holdings, which manufactures and distributes agricultural fertilizers, was the S&P 500’s top gainer on Monday. On September 18, increased buying pressure pushed CF Industries to the highest levels since February 14.

There was a sudden increase in buy pressure in CF Industries on Monday along with a rise in its peers Mosaic (MOS), PotashCorp (POT), and Agrium (AGU). There wasn’t a strong reason for the rise. Yara International, the world’s largest nitrogen fertilizer producer, was upgraded by Danske Bank on Monday. CF Industries’ prices have been trading relatively lower since mid-2016 due to a global oversupply of nitrogen. An additional investment in new production facilities also weighed on CF Industries.

CF Industries announced its capital expansion program in 2012, which costs $3.8 billion. The program includes two main projects on building new ammonia and urea production facilities in Louisiana and Iowa. CF Industries’ investment in new production facilities amid the oversupplied market dented its sentiment and weighed on the stock performance.

On September 18, CF Industries rose 6.7% and closed the day at $35.10.

In the next part, we’ll discuss the S&P 500’s top losers on September 18.

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