Potash Buyout Creates Interesting Scenarios For MOO Friday, August 27, 2:18 PM ET, by Market News Video Staff The Market Vectors Agribusiness ETF (MOO) is having a particularly strong day on Friday, gaining ...
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By ETF Channel Staff, Wednesday, October 6, 2:10 PM ET
Agricultural giant Monsanto (NYSE:MON) recorded a loss for the fiscal fourth quarter, of $143 million, or $0.26 per share. Monsanto said its adjusted loss totaled $0.09 per share, worse than analysts expected. Net sales, however, rose 4%, to $1.95 billion, better than analysts anticipated.
On September 28, the company had announced that its highly touted new SmartStax corn seed exhibited disappointing harvest results. The seed was to offer farmers combined insect protecting and weed control traits, and the stock dropped sharply.
Shares of Monsanto are up nearly half a percent today, as investors seem to believe that the company remains an industr leader and growth will resume in the future.
Monsanto accounts for 8.5% of the PowerShares Global Agriculture Portfolio ETF (NASDAQ:PAGG). The fund also owns other big agricultural names like Potash (NYSE:POT) and Wilmar International (WLMIY), and has returned 4% this year with a dividend yield of 1.5%. Despite recent weakness in Monsanto, PAGG has had a strong year thus far, gaining nearly 4% with a dividend yield of 1.5%. The fund is up by a quarter percent today.
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