Goldman Sachs Continues To See "Robust Near-Term Earnings Momentum" For Mosaic; Morgan Stanley Maintains 'Overweight' (MOS)Original post:
In late pre-market action the stock is up 55 cents at $81.00. The stock was up 2% on Wednesday.
First up, Reuters:
High prices help Mosaic offset mine, shipping woes
* EPS $1.21 vs. Street forecast $1.07And a bit of boosterism from their hometown papers.
* Revenue up 30 percent to $2.21 bln, but misses Street
* Volumes dip, but higher selling prices lift margins
* 'Operational struggles' in potash unit - CEO
* Shares slip almost 1.5 percent in after-hours trading (Adds details on conference call; updates shares)
By Ernest Scheyder
NEW YORK, March 30 (Reuters) - Higher prices for phosphate and potash fertilizers offset a drop in volumes and operational challenges, helping Mosaic Co (MOS.N) post a better-than- expected quarterly profit.
The company's revenue jumped 30 percent to $2.21 billion, although Wall Street had expected $2.34 billion, according to Thomson Reuters I/B/E/S. That pushed shares down almost 1.5 percent in after-hours trading....MORE
From the Minneapolis StarTribune:
Mosaic thrives as fertilizer demand grows
From the St. Paul Pioneer Press:
Fertilizer maker Mosaic riding agriculture's bull run