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Monsanto Company (MON)

  • Aug. 20, 2014, 4:43 PM
    • Monsanto (NYSE:MON) says it expects to begin selling new soybean seeds resistant to a broader range of herbicides in 2016 pending regulatory approvals in major agricultural countries.
    • The seeds, which MON intends to pair with a new and stronger weedkiller, are "on track for U.S. regulatory approval toward the end of the year" and are expected to earn international approvals in 2015, chief technology officer Robert Fraley says.
    • MON has sought USDA approval for the seeds since 2010, but the review has moved more slowly than expected amid pushback from environmental groups.
    • Earlier: Monsanto affirms guidance.
    | 1 Comment
  • Aug. 20, 2014, 12:51 PM
    • Monsanto (MON +0.3%) says it is on track for current guidance at the high end of its initial FY 2014 ongoing EPS and free cash flow guidance ranges, despite increased headwinds across the macro agriculture industry.
    • MON confirms 2014 EPS guidance of $5.10-$5.20 vs. $5.21 analyst consensus estimate, and free cash flow of $700M-$800M; expects net cash provided by operating activities of $2.9B-$3.3B.
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  • Aug. 6, 2014, 7:11 PM
    • The USDA on Tuesday said it is leaning toward approval of a new line of herbicide-tolerant crops developed by Monsanto (NYSE:MON), and issued a final environmental impact statement for genetically altered corn and soybean plants developed by Dow Chemical (NYSE:DOW) which also indicates likely approval.
    • MON developed its new soybeans and cotton to resist a new herbicide that combines dicamba and glyphosate and which the company is branding as Roundup Xtend; DOW has developed its Enlist corn and soybeans that resist a new herbicide developed by the company that includes glyphosate and 2,4-D.
    • Both new cropping systems have seen regulatory decisions delayed by intense opposition from groups who say using more herbicides on weeds will only increase weed resistance over the long term, as well as bring increased risks of health problems and environmental pollution.
  • Aug. 5, 2014, 6:34 PM
    • Monsanto Company (NYSE:MON) declares $0.49/share quarterly dividend, 14.0% increase from prior dividend of $0.43.
    • Forward yield 1.70%
    • Payable Oct. 31; for shareholders of record Oct. 10; ex-div Oct. 8.
    | 1 Comment
  • Jul. 10, 2014, 6:52 AM
    • Monsanto (MON) pays Tekmira Pharmaceuticals (TKMR) $1.5M for a milestone related to the research program under the Option Agreement the two companies signed in January covering Tekmira's proprietary delivery technology and IP for use in agricultural applications. The potential value of the agreement could be as high as $86.2M if all program milestones are met.
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  • Jun. 27, 2014, 8:16 AM
    • DuPont (DD) -3.1% premarket after cutting its Q2 and FY 2014 earnings outlook, pointing to slower than expected sales growth in its agriculture and performance chemicals units.
    • DD said in a conference call that it expects Q2 operating earnings in its agriculture business to fall in the low teens in percentage terms, with corn pricing in North America expected to be slightly lower than its previous estimate and returns of unused corn seeds in Brazil to be higher than anticipated.
    • Dow Chemical (DOW) -0.7% premarket; chemical peers FMC, SYT, MON, LYB, CE and HUN also will be on watch today.
  • Jun. 26, 2014, 6:40 PM
    • Monsanto (MON) completed the sale of $4.5B of notes in its biggest bond sale ever to help fund stock buybacks.
    • The seven-part offering included $1B of 4.4%, 30-year bonds that yielded 110 bps more than similar-maturity Treasurys, as well as $750M of 4.7% 50-year debentures that yielded 140 bps more than benchmarks.
    • Yesterday, MON announced a $10B stock buyback plan and an intention to repurchase $6B of shares on an accelerated basis.
  • Jun. 25, 2014, 11:39 AM
    • Monsanto (MON +5%) says in its FQ3 earnings conference call that it is delivering growth commitments despite the toughest macro agriculture environment in several years, and that its upside guidance reflects estimated a $0.15-$0.20 EPS headwind largely driven by currency.
    • Goldman Sachs maintains its Buy rating on the shares even as MON's FQ3 earnings beat was "not great" and the guidance raise was below expectations; the firm believes it is outweighed by the sheer size of the share repurchase program.
    • MON is shifting its capital redeployment strategy from acquisitions to share repurchases and will be more aggressive going forward, Goldman says; it also views MON's five-year growth plan calling for mid-teens CAGR to $10-plus of EPS in 2019 as an endorsement of continued growth.
    | 1 Comment
  • Jun. 25, 2014, 9:10 AM
  • Jun. 25, 2014, 8:47 AM
    • Monsanto (MON) +5.5% premarket and perhaps set to open at a new all-time high after beating FQ3 earnings estimates, raising its full-year outlook on a strong outlook for its seeds and traits business, and announcing a $10B share buyback program.
    • Raises its full-year EPS and free cash flow guidance to the the upper end of previous ranges; sees EPS of $5.10-$5.20 vs. earlier forecast of $5.00-$5.20 and $5.25 analyst consensus estimate, and free cash flow at the upper end of $700M-$800M range.
    • In its new two-year $10B share purchase program, MON says it is targeting $6B in stock buybacks starting in the near term and spanning up to 12 months.
    • Gross margin rose to 54.8% from 53.2%.
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  • Jun. 25, 2014, 8:34 AM
    • Monsanto (MON): FQ3 EPS of $1.62 beats by $0.06.
    • Revenue of $4.25B (flat Y/Y) misses by $150M.
    • Press Release
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  • Jun. 24, 2014, 5:30 PM
  • Jun. 23, 2014, 12:44 PM
    • Monsanto (MON +0.4%) recently explored a takeover of Swiss rival Syngenta (SYT +5.1%) in a potential $40B deal that would have allowed the U.S. firm to move its tax location to Switzerland, according to a Bloomberg report.
    • The two companies held preliminary talks with advisers in recent months about a combination before SYT decided against negotiations, the report says; while talks are currently on hold, sources say the deal could be revived.
    • MON jumped to a new all-time high at $123.99, and has since pulled back to ~$122.
  • Jun. 12, 2014, 3:31 PM
    • A compromise deal to give EU member states the option of banning genetically modified crops won approval today from EU environment ministers, bringing the EU closer to ending years of deadlock on the controversial issue.
    • The agreement is drawing criticism from both sides: Monsanto (MON +0.2%), who makes the only GMO crop grown in Europe, says it would continue its focus on other markets if the law is enacted as drafted, while the Green Party calls the deal "a Trojan horse" that would open the door to GMO crops across Europe.
    • The European Commission hopes for final deal by year's end.
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  • Jun. 6, 2014, 1:41 PM
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  • May 8, 2014, 4:57 PM
    • Vermont becomes the first U.S. state to mandate labeling of foods made with genetically modified organisms, as Gov. Shumlin today signed a law that is widely expected to be challenged in court by food and agriculture companies.
    • The law, set to take effect in July 2016, sets the stage for more than two dozen other states currently considering mandatory labeling of such GMO foods.
    • BIO, a trade group whose members include Monsanto (MON) and Dow Chemical (DOW), says food costs for an average household would rise as much as $400/year due to mandatory labeling.
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Company Description
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.