MON said Wednesday its fiscal first-quarter loss was $19 million, or 3 cents a share, compared to a profit of $556 million, or $1 a share, in the year-ago period. Total net sales fell to $1.7 billion from $2.6 billion. Analysts polled by FactSet Research were looking for nil earnings in the most recent quarter on sales of about $2 billion. For the full year, the St. Louis agricultural products company predicted earnings in a range of $2.85 to $3.11 a share, and ongoing earnings of $3.10 to $3.30 a share. Wall Street projected fiscal 2010 earnings of $3.35 a share, on average. Shares of Monsanto fell 1.7% premarket to $83.55. http://www.marketwatch.com/story/monsanto-swings-to-a-quarterly-loss-2010-01-06 I thought we are in recovery modus ?
Don't like your daily serving of high fructose corn syrup?... aka... liquefied chemical goo How bad is their overhead, they own the food chain, some serious pricing power. I hardly ever listen to conference calls, I gave up on fundamentals in favor of pretty charts, but I think I'll listen to this one. Seems strange for such a dominant company to have a loss.
Boy am I dumb, not buying MON on that news. I need to add "earnings miss: strong buy signal" to my list of important pointers: http://www.elitetrader.com/vb/showthread.php?s=&threadid=183109
Seed up 15% today not on mon rumor but because Fidelity increased their stock of SEED to 12% ownership. They bought 1.5 million more shares. Thurs Jan 14 is earnings. Maybe Mon announcement will be made on Thursday.