Monsanto Company (MON) - NYSE
  • Mon, Mar. 14, 12:40 PM
    • Monsanto (MON -1.8%) is downgraded to Neutral from Buy with a $95 price target, cut from $105, at Citigroup, citing MON's intense competition in the older seeds segment and higher than expected pricing pressure in high-tech biotech seeds amid an agricultural downturn.
    • Although MON continues to have a leading seeds R&D pipeline, it is likely to find it difficult to raise seed prices and re-accelerate seed profits growth, Citi says.
    • The lack of higher grain prices and the absence of a favorable grain cycle raises the risks to MON’s long-term mid-teens growth outlook, the firm adds.
    | Mon, Mar. 14, 12:40 PM
  • Wed, Mar. 9, 10:39 AM
    • India's government cuts royalties paid by local firms for Monsanto's (MON -0.2%) genetically modified cotton seeds by nearly 70%, ignoring the company's threat to leave the country.
    • The action follows complaints from local seeds companies that MON's joint venture with India's Mahyco was charging high royalties, which prompted India's farm ministry to form a panel to look into the matter, whose recommendation the government has now accepted.
    • The government also caps GMO cotton seed prices after appeals by some state governments and farmers to lower the rate of the Bt variety that commands 90% of the market.
    | Wed, Mar. 9, 10:39 AM
  • Tue, Mar. 8, 9:15 AM
    • The European Union delays a decision on whether to extend approval for weedkiller ingredient glyphosate, used in herbicides including Monsanto's (NYSE:MON) Roundup.
    • In a meeting this week, the EU had been expected to endorse a European Commission proposal to extend authorization of glyphosate for 15 years until 2031; instead, a vote was not taken, and discussions likely will continue at another session of the committee on May 18-19, or possibly before.
    • Before the meeting, the European Food Safety Authority issued an opinion that glyphosate was unlikely to cause cancer, but the World Health Organization's International Agency for Research on Cancer has classified glyphosate as "probably carcinogenic to humans."
    | Tue, Mar. 8, 9:15 AM
  • Fri, Mar. 4, 2:23 PM
    • Monsanto (MON +1.2%) is higher despite a Goldman Sachs downgrade to Sell from Neutral with a $84 price target, trimmed from $86, seeing weakness in currently oversupplied ag markets likely to persist for the foreseeable future.
    • The firm says MON’s target of 20%-plus EPS compound annual growth rate for FY 2017-19 could come under pressure due to poor farmer economics, elevated grain inventories and “recent company-acknowledged linkage between earnings growth rates and stagnant corn pricing (driven by oversupply)."
    • Goldman's Sell recommendation comes even as most of Wall Street - including Deutsche Bank, Credit Suisse, Atlantic, Piper Jaffray, Canaccord, Morgan Stanley, UBS and Citi - has maintained Buy-equivalent ratings on the stock.
    | Fri, Mar. 4, 2:23 PM | 5 Comments
  • Fri, Mar. 4, 8:58 AM
    • Monsanto (NYSE:MON) threatens to pull out of India if the government imposes a 70% cut in royalties that local companies pay for its genetically modified cotton seeds, Reuters reports.
    • MON's joint venture with India's Mahyco licenses a gene that produces its own pesticide to a number of local seed companies in lieu of royalties and an upfront payment; amid complaints of local seeds companies that MMB was charging high fees, a farm ministry committee reportedly is recommending a ~70% cut in the royalty, or trait fee, that the seed companies pay to MMB.
    • "If the committee recommends imposing a sharp, mandatory cut in the trait fees paid on Bt-cotton seeds, MMB will have no choice but to re-evaluate every aspect of our position in India," MON's top exec for the India region says.
    • MON -1.1% premarket.
    | Fri, Mar. 4, 8:58 AM | 1 Comment
  • Thu, Mar. 3, 10:10 AM
    • The European Union is expected to extend approval next week for weed-killer ingredient glyphosate, used in many herbicides including Monsanto's (MON -0.3%) Roundup, Reuters reports.
    • An expected closed-door meeting next Monday and Tuesday in Brussels appears set to produce an endorsement of a European Commission proposal to extend authorization of glyphosate for 15 years until 2031, according to the report.
    • The opinion of the European Food Safety Authority, which advises EU policymakers, is that glyphosate is not likely to cause cancer, a conclusion at odds with the view of the World Health Organization's International Agency for Research on Cancer.
    | Thu, Mar. 3, 10:10 AM | 4 Comments
  • Wed, Mar. 2, 12:49 PM
    • Monsanto (MON -7.5%) sinks after cutting its FY 2016 and Q2 profit outlook, citing weak foreign currencies, increased generic competition and compressed grower margins.
    • CEO Hugh Grant says MON may not achieve its target of doubling EPS by 2019 because of the current struggles, and that MON is no longer interested in buying Syngenta (SYT -0.9%) after the latter agreed to be acquired by ChemChina.
    • Before MON's announcement, the Bernstein research firm called a bottom in the agricultural cycle, which it sees as positive for MON and Potash (POT +3.4%), as spot potash prices are expected to trend positively during the spring planting season.
    • Related tickers: DD -1.2%, DOW -0.8%, AGU -1.2%, CF -3.5%.
    | Wed, Mar. 2, 12:49 PM | 9 Comments
  • Wed, Mar. 2, 9:15 AM
    | Wed, Mar. 2, 9:15 AM
  • Wed, Mar. 2, 8:23 AM
    • Monsanto (NYSE:MON) -4.9% premarket after guiding its FY 2016 and Q2 earnings below consensus amid a deteriorating macro environment.
    • MON now sees Q2 EPS of $2.35-$2.45 vs. $2.85 consensus cuts FY 2016 EPS guidance to $4.40-$5.10 from its earlier view of $5.10-$5.60 and below $5.16 analyst consensus, citing weak foreign currencies, generic glyphosate pricing, and compressed grower margins coming from lower commodity prices.
    • MON also cuts its full-year free cash flow guidance range to $1.4B-$1.6B from $1.6B-$1.8B.
    • MON now expects FY 2016 gross profit growth from its core seeds and genomics segment to come in relatively flat Y/Y, and expects its ag productivity segment gross profit closer to the mid-point of the $900M-$1.1B range.
    | Wed, Mar. 2, 8:23 AM | 2 Comments
  • Mon, Feb. 29, 5:58 PM
    • A single paragraph added to a sweeping chemical safety bill could greatly benefit Monsanto (NYSE:MON) by shielding the company from costly liability for making now-banned toxic PCB chemicals, according to a NY Times report.
    • The PCB provision is one of several area that Senate and House negotiators must work through before passing a law to revamp the way thousands of chemicals are regulated in the U.S., but some of the most vociferous objections relate to the so-called "Monsanto Clause" - which does not mention the company by name, but between the early 1930s and 1977, MON manufactured nearly all of the 1.25B lbs. of PCBs sold in the U.S.
    • MON says it never asked for the change, but by November, the company clearly was aware of the provision, according to the report; arguing before a federal court in Texas, a lawyer representing MON cited the House language to say that some of the legal claims against the company’s past PCB business should be dismissed.
    | Mon, Feb. 29, 5:58 PM
  • Wed, Feb. 10, 2:57 PM
    • Monsanto (MON -3.7%) CEO Hugh Grant has voluntarily returned more than $3M in bonuses and stock awards after an SEC investigation found the company had misstated earnings from its Roundup herbicide.
    • Former CFO Carl Casale also returned ~$700K he received during the years in which earnings were misrepresented.
    • The SEC found that MON failed to account for the operating costs of a rebate program that ran during 2009-11 to help boost sales that were being hurt by competition from cheaper, generic herbicides.
    | Wed, Feb. 10, 2:57 PM | 12 Comments
  • Tue, Feb. 9, 2:46 PM
    • Monsanto (MON +0.4%) agrees to pay an $80M penalty as part of a settlement of charges from the SEC that it violated accounting rules and misstated earnings related to its Roundup herbicide.
    • The SEC says MON did not properly account for tens of millions of dollars in rebates the company paid to retailers and distributors, the costs of which were not fully reflected when MON booked Roundup sales, leading three years of "materially” misstated earnings; the SEC did not specify the amount of the misstated earnings.
    • MON also agrees to retain an independent compliance consultant, and three accounting and sales execs at the company will pay a total of $135K in penalties to settle individual charges.
    | Tue, Feb. 9, 2:46 PM | 3 Comments
  • Wed, Feb. 3, 2:45 PM
    • Monsanto (MON +1.6%) says it received import approval from China for its new genetically modified Roundup Ready 2 Xtend soybeans, and that it will begin selling the seeds in the U.S. and Canada.
    • MON's next-generation soybean variety is engineered to tolerate applications of glyphosate and dicamba herbicides amid a growing problem of glyphosate-resistant weeds in North America.
    • Dicamba use is allowed in Canada but not yet approved in the U.S., where it is still under review by the EPA.
    | Wed, Feb. 3, 2:45 PM | 22 Comments
  • Wed, Feb. 3, 2:07 AM
    • ChemChina is offering to buy Switzerland's Syngenta (NYSE:SYT) in a deal worth more than $43B - a move that would translate into the largest ever international takeover by a Chinese company.
    • Syngenta's board has recommended the 480 francs per share deal (a 20% premium based on Tuesday's closing price) to shareholders.
    • If completed, the transaction would help ChemChina transform into the world's biggest supplier of pesticides and agrochemicals, while snatching an asset that was once the target of St. Louis-based Monsanto (NYSE:MON).
    • SYT +3.7% premarket
    • Previously: WSJ: ChemChina nears deal to buy controlling stake in Syngenta (Feb. 02 2016)
    | Wed, Feb. 3, 2:07 AM | 23 Comments
  • Fri, Jan. 29, 4:35 PM
    • Monsanto (NYSE:MON) declares $0.54/share quarterly dividend, in line with previous.
    • Forward yield 2.38%
    • Payable April 29; for shareholders of record April 8; ex-div April 6.
    | Fri, Jan. 29, 4:35 PM
  • Tue, Jan. 26, 8:05 AM
    • CTFN Contributor Valeria Camerino reports that market observers believe ChemChina's CHF470 (US$462) per share bid ($44B) for 70% of Syngenta (NYSE:SYT) is more likely to pass antitrust scrutiny than a potential merger with Monsanto (NYSE:MON) because there is less overlap. A deal could be reached as soon as next month.
    • In December, Syngenta's board turned down Monsanto's $47B offer stating that it significantly undervalued the firm.
    • ChemChina is a major player in generic pesticides, but has no appreciable footprint in high-tech herbicides, insecticides, fungicides or seeds. Also Chinese ownership would enhance penetration in key emerging markets. A bump in the road, however, could be the purchase of Syngenta's U.S.-based assets by a Chinese acquirer.
    • Syngenta is an attractive target on the basis of its seeds business and first rate crop protection chemicals portfolio. It is the only pure play in Europe in these areas.
    • As far as Monsanto is concerned, one observer believes it makes more strategic sense for Syngenta to acquire Monsanto and dispose of the crop protection chemicals business and any required seeds assets, along with the related salesforce and technical support. He feels that Monsanto would be better served by merging with BASF's (OTCQX:BASFY) crop chemical business.
    • Previously: Bloomberg: ChemChina moves closer to potential Syngenta deal (Jan. 15)
    • Previously: Syngenta talking with Monsanto, ChemChina and others, chairman says (Dec. 22, 2015)
    | Tue, Jan. 26, 8:05 AM | 4 Comments
Company Description
Monsanto Co. provides agricultural products for farmers. Its seeds, biotechnology trait products, and herbicides provide farmers with solutions that improve productivity and produce better foods for consumers and better feed for animals. Monsanto operates its business through the following... More
Industry: Agricultural Chemicals
Country: United States