Monsanto’s Stock Continues Surge on Strong Earnings

Monsanto reported net income for its first fiscal quarter, ended November 30, 2007, of $256 million (46 cts/share), nearly triple the company’s net income of $90 million for the year-ago period, and beating the consensus of analysts’ estimates as reported by First Call (Boston) of 35 cts/share. Sales increased 36%, to $2.1 billion, exceeding Bank of America’s (New York) estimate of $1.9 billion. Key drivers include increased sales of Roundup glyphosate herbicides in Argentina, Brazil, and Europe, as well as stronger adoption of the...

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