Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, January 8, 2014

Monsanto profit beats expectations; shares rise, (NYSE: MON)

Monsanto Co, the world's largest seed company, reported higher-than-expected quarterly earnings on Wednesday as a rise in herbicide sales offset a decline in its corn business.The company also said it was making fast progress on more than two dozen new projects and was laying the groundwork for an extension of its precision farming platform, which uses data and technology to prescribe production tools for individual farmers.Shares of Monsanto were up 2.3 percent at $115.44 in afternoon trading.Analysts lauded the company's performance, saying it reflected a good balance of high-margin herbicide sales and advances in the seed businesses.

Monsanto Company (Monsanto) along with its subsidiaries, is a provider of agricultural products for farmers. Shares of MON traded higher by 2.02% or $2.29/share to $115.53. In the past year, the shares have traded as low as $94.00 and as high as $117.50. On average, 2457820 shares of MON exchange hands on a given day and today's volume is recorded at 3568029.