Monsanto (MON) announced that it earned $937 million, or $1.74 per share, during its most recent fiscal quarter, versus $692 million, or $1.28 per share, in the same period last year. Revenue increased by 17 percent to $4.22 billion, beating estimates of $3.97 billion.
QT Midstream Partners (EQM) saw its IPO debut today as it traded at $23.55 for a gain of 12% over its offering price of $21. The initial public offering raised $263 million by offering 12.5 million common units.
Some good news on the economic front helped boost stocks today, but investors remain cautious as they look ahead to the EU summit later this week. The Commerce Department is reporting a 1.1 percent increase in durable goods orders in May, beating economists’ expectations for a gain of 0.4 percent.
General Mills Incorporated (GIS) announced its quarterly dividend of 33 cents per share, an increase of about 8% over its prior dividend in April of 30.5 cents. The new quarterly dividend of 33 cents a share will be paid on August 1 to shareholders of record July 10.
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
H&R Block (HRB) announced that fiscal fourth-quarter profit fell by 11 percent from the same period last year due to restructuring costs and lower revenue. Net income fell to $586.1 million, or $1.99 per share, from $658.6 million, or $2.14 per share last year and revenue fell 2 percent to $2 billion from $2.05 billion.
The Daily Ticker’s Aaron Task and Henry Blodget discuss Facebook’s email changes, Sheryl Sandberg’s board appointment
LDK Solar announced some bad news today. The China-based solar equipment manufacturer posted an unexpectedly large quarterly loss. It also forecast weak second quarter sales. This move sent company shares plunging more than 8 percent.The company’s first quarter net loss came in at $135.8 million, contrasted with last year’s net profit of $135.4 million. Forecasted second quarter sales are between $220 and $270 million, below the expected $370.4 million. Solar panel prices have plummeted over the past year due to a supply glut, closing down many solar companies. LDK Solar will likely issue new long-term debt to reduce its shorter-term facilities, but experts believe that may not be enough to protect it from bankruptcy.
Agilent (A) today had its estimates and price target increased by Bank of America/Merrill Lynch due to recent acquistion activity that should increase earnings. A buy rating was issued with a $54 price target.
Boeing Company (BA) maintained its quarterly dividend of 44 cents per share. The dividend is payable September 7, 2012, to shareholders of record as of August 17, 2012.
