Farm equipment manufacturer Agco (AGCO +8%) pops after blowing out Q1 earnings estimates this...

|About: AGCO Corporation (AGCO)|By:, SA News Editor

Farm equipment manufacturer Agco (AGCO +8%) pops after blowing out Q1 earnings estimates this morning. Net profit rose 50% Y/Y on a 23% jump in sales out of its Europe, Africa and Middle East operations, with the biggest growth coming from Germany, France and the UK. The company also raises estimates for FY12, now expecting an EPS of $5.50 on revenue of $10.2B - $10.5B. Street estimates were for an EPS of $5.07 on revenues of of $9.9B.