Fri, Jan. 30, 4:45 PM
- Monsanto (NYSE:MON) shareholders reject a proposal urging the separation of the chairman and CEO roles, but approve a non-binding proposal requesting “proxy access” adoption.
- Proxy access could turn typically one-sided corporate contests into something more like mainstream elections, by letting big investors list competing board candidates on official company ballots.
- The proposal about the chairman and CEO positions said an independent chairman would benefit MON’s financial performance, while MON believes Hugh Grant’s dual role helps it best execute strategy and notes that 12 of 13 directors are independent.
Fri, Jan. 30, 4:32 PM
Thu, Jan. 15, 6:17 PM
- Monsanto (NYSE:MON) says the USDA has approved its soybean and cotton seeds engineered to tolerate sprays of glyphosate, a widely used weed killer marketed by MON under the Roundup brand, and dicamba, a herbicide able to eradicate weeds that have evolved to withstand glyphosate.
- MON submitted the genetically modified seeds for USDA approval in 2010; company officials have said they expect to begin selling the new soybean seeds in 2016.
Wed, Jan. 7, 8:58 AM
- Monsanto (NYSE:MON) +1.1% premarket after FQ1 earnings and revenues beat expectations but expects FQ2 earnings to fall 5%-10% and lowers its full-year growth outlook for the seeds and genomics segment.
- MON confirms in-line guidance for FY 2015, seeing EPS of $5.75-$6.00 vs. $5.87 analyst consensus estimate, but anticipates fewer acres dedicated to corn in South America and a potential decline in overall pesticide earnings; sees full-year gross profit growth percentage for seeds and genomics in the high single digits, down from double-digits.
- In FQ1, sales in the agricultural productivity business fell 15% Y/Y to $1.25B, corn seed and trait sales fell 12% to $928M, while soybean seed and traits segment sales grew 48% to $396M.
- In October, MON had forecast earnings at roughly half of what it posted a year earlier as market conditions resulted in lower planted acres for cotton and corn.
Wed, Jan. 7, 8:03 AM
Tue, Jan. 6, 5:30 PM
Dec. 31, 2014, 5:04 PM
- Stifel's Paul Massoud, reiterating a Buy and $135 target on Monsanto (NYSE:MON) ahead of its Jan. 7 FQ1 report: "We believe Monsanto will continue to drive higher seed pricing in 2015 through mix-lift upgrades ... In our view, investor concern over a year over year decline in U.S. planted acreage is overstated, given the recent improvement in corn prices."
- Massoud notes 87M acres of corn are expected to be planted in the U.S. in 2015, and sees strong corn prices to give a lift to Monsanto's seed pricing. While today's price of $4.09/bu allows farmers to generate of profit of $19/acre, an expected Dec. 2015 price of $4.33/bu would enable a profit of $33/bu.
- Monsanto fell 1.4% in regular trading. Shares closed the year up 4%.
Dec. 24, 2014, 11:56 AM
- Monsanto (MON -1.3%) is downgraded to Neutral from Buy at Miller Tabak, which believes it is time for investors to cash in before increased product competition comes back into focus.
- While the firm thinks forward purchasing by farmers was slower this year, partly due to commodity price uncertainty and a delayed harvest, it notes that MON had flagged during its Q4 conference call that Q1 2015 earnings would fall ~50% Y/Y.
- Tabak also thinks MON will need to work harder to maintain global market share compared to the past three years, and thus does not see Q1 earnings as a major market mover for shares.
Dec. 23, 2014, 2:57 PM
- DuPont (DD +1.6%) and Monsanto (MON +0.6%) say they have agreed to settle their long-running technology dispute and dismiss their respective patent infringement lawsuits pending in court.
- The litigation related to claims by MON that DD had infringed certain MON seed chipping patents and claims by DD that MON had infringed certain DD patents related to seed processing.
- Terms of the settlement are not disclosed.
Dec. 23, 2014, 7:14 AM
Dec. 8, 2014, 4:41 PM
Dec. 2, 2014, 3:49 PM
- Monsanto (MON +0.1%) is downgraded to Neutral from Buy with a $127 target price, down from $140, at Monness Crespi, whose annual seed dealer survey came back the most negative for the seed industry in the survey's seven-year history.
- The firm says the 50-plus dealers who responded are seeing challenging industry conditions - including greater discounting, reduced trait purchases, reduced spending on seeds, and share gains for non-major seeds brands - as a second straight year of significantly lower farm profits forces farmers to watch their spending closely, including on seeds.
Nov. 25, 2014, 2:46 PM
- "Not surprisingly, billionaires reduced their energy allocations (NYSEARCA:XLE) during Q3," says Direxion, unveiling the quarterly rebalance for the iBillionaire Index (which serves as the benchmark for the IBLN ETF). Attention was instead shifted to healthcare (NYSEARCA:XLV) and materials (NYSEARCA:XLB), with companies like Humana (NYSE:HUM) and Monsanto (NYSE:MON).
- Also added to the index: TMO, GM, FB, CBS, GOOG, MAS, APD, DAL, NOV, WHR, THC, ABBV.
- Dropped from the index: AIG, MCK, CTSH, MSI, RIG, CI, APC, GPS, MSFT, CMCSA, NFLX, MHFI, WMB, ICE.
- Outlying sectors: Consumer Discretionary (NYSEARCA:XLY) makes up 23.33% of the iBillionaire Index vs. 11.68% for the S&P 500, and Industrials (NYSEARCA:XLI) and financials (NYSEARCA:XLF) make up just 6.67% each of the index vs. 10.44 and 16.30 of the S&P 500, respectively. Consumer Staples (NYSEARCA:XLP) have zero representation in the index vs. 9.7% in the S&P 500.
- Previously: Direxion launched an ETF with iBillionaire today
Nov. 12, 2014, 4:59 PM
- Monsanto (NYSE:MON) says it reached a settlement with U.S. wheat farmers who sued the company after unapproved genetically engineered wheat was discovered growing without oversight in Oregon.
- Without admitting liability, MON agrees to put $2.1M into a settlement fund to compensate farmers in Washington, Oregon and Idaho who sold soft white wheat between May 30 and Nov. 13, 2013, and an additional $250K to various wheat growers' associations.
- MON's Roundup Ready wheat, which was never approved by U.S. regulators and which the company said it stopped testing a decade ago, was found growing in an Oregon farmer's field in 2013.
Nov. 12, 2014, 10:15 AM
- Monsanto (MON +0.6%) says its growth strategy provides an opportunity to "at least double" ongoing earnings per share by 2019.
- In presentation slides at a Morgan Stanley conference on chemicals and agriculture, MON says: "Given strength of business and compelling line of sight, Monsanto sees sustained opportunity for long-term growth. Strong embedded growth is expected to deliver more than $4B of total gross profit growth from core seeds-and-traits engine alone."
- MON also expects its Climate Corporation platform to emerge as a meaningful contributor to earnings and growth in the five-year horizon.
Oct. 14, 2014, 3:31 PM
- Global growth, foreign-exchange, oil, and small caps are the subject of every client inquiry, says David Kostin. His team's recommendation: Buy "American exceptionalism."
- In Kostin's view, U.S. economy and corporate fundamentals are still strong, with economic growth expected by Goldman economists to be 3.2% next year, the fastest expansion since 2005. Europe is expected to grow just 1%.
- What his team likes are those stocks of companies which have a high proportion of domestic sales, plus sectors like Consumer Staples (XLP -0.1%) and Discretionary (XLY +0.7%) which stand to benefit from lower oil prices (plunging again today).
- As for small caps (IWM +0.9%), Kostin is wary, noting downward earnings revisions have boosted small cap P/E ratios even as prices have declined.
- The list of S&P 500 names capturing two or more of Kostin's themes: GT, GM, PCLN, AMZN, CMCSA, LOW, DG, TSN, ADM, CVS, AVP, WAG, PXD, HAL, JPM, BAC, SCHW, PNC, MS, C, GNW, LNC, MET, THC, AET, UNH, ESRX, HUM, WLP, BIIB, GILD, DAL, CMI, FLR, CRM, JBL, MA, FB, MU, FSLR, VMC, MON, T.
MON vs. ETF Alternatives
Monsanto Co is a provider of agricultural products for farmers. The Company offers corn, soybean, cotton, wheat, canola, sorghum and sugar cane seeds. Its segments are Seeds and Genomics and Agricultural Productivity.
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