Monsanto (MON) -0.40%
Monsanto reported second quarter profit that topped analysts’ estimates, but issued downside earnings guidance for the full year.
Increased prices for genetically modified seeds and Roundup weed killer helped boost revenues 8.3 percent year-over-year. Higher prices also lifted margins 5 percent in the quarter.
Sales in the seeds and genomics segment jumped 20 percent, helped by strong adoption of a higher-margin corn seed in the U.S. Sales from the agricultural productivity products dropped 16 percent on lower volumes of Roundup and other herbicides.
Despite the downside earnings guidance, CEO Hugh Grant said Monsanto is “on track for more than 20 percent growth in earnings for the full fiscal year.”
Walgreen (WAG) +3.36%
Walgreens reported impressive March sales numbers, with total sales increasing 6.8 percent and same-store sales (stores open at least 12 months) rising a modest 1.5 percent. Pharmacy sales, which accounted for two-thirds of total sales for the month, were up 10.2 percent. Same-store pharmacy sales increased 5.7 percent, but were negatively impacted by 2.8 percent due to generic drug introductions in the last 12 months.
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Intel (INTC) +4.46%
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Peter Lazaroff, Junior Analyst
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