  The current $I$ through nickelocene molecules and its noise are measured with
a low temperature scanning tunneling microscope on a Cu(100) substrate. Density
functional theory calculations and many-body modeling are used to analyze the
data. During contact formation, two types of current evolution are observed, an
abrupt jump to contact and a smooth transition. These data along with
conductance spectra ($dI/dV$) recorded deep in the contact range are
interpreted in terms of a transition from a spin-1 to a spin-1/2 state that is
Kondo screened. Many-body calculations show that the smooth transition is also
consistent with a renormalization of spin excitations of a spin-1 molecule by
Kondo exchange coupling. The shot noise is significantly reduced compared to
the Schottky value of $2eI$ but no influence of the Kondo effect or spin
excitations are resolved. The noise can be described in the Landauer picture in
terms of spin-polarized transmission of $\approx$35% through two degenerate
$d_\pi$-orbitals of the Nickelocene molecule.
