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Global Investing Roundups
Symantec Upgrade; Monsanto Sees Credit for Crops; AIG’s Costly Retreat; Wells and Citi Extend Ceasefire; Pending Home Sales Climb; Crude Hits Lowest Level in 2008
- Symantec Corp. (SYMC) was upgraded to “overweight” from “neutral” by a JPMorgan Chase & Co. (JPM) analysts yesterday (Wednesday). "We are upgrading shares of Symantec… as the shares have fallen to a value less than what we believe the maintenance is worth, and investors are essentially getting the consumer business and any future enterprise license for free," JPMorgan’s John DiFucci wrote, MarketWatch reported.
- Monsanto Co. (MON), one of the largest global sellers of seeds and agriculture products, said that it…
Monsanto Sells Off Controversial Milk-Hormone Unit to Focus on Seed Product Lines
Monsanto Co. (MON), the world’s largest seed producer, is selling off its rights to a synthetic milk-producing hormone in order to focus its attention more closely on its core business of developing genetically modified seeds and pesticides.
U.S. pharmaceutical company Eli Lilly & Co. (LLY) will pay Monsanto $300 million for Posilac, the brand name for recombinant bovine somatotropin or rBST. The deal includes the global sale rights and a Georgia-based manufacturing plant.
Lilly has been distributing Posilac, which has been on the market since 1994, for Monsanto under an exclusive agreement and hopes this deal will enable it to expand…
21Aug2008 | Money Morning | Comments Off | ContinuedAgri-Biotech Giant Monsanto Moves into its Newest Venture: Biofuels From Prairie Grasses
Agricultural-biotech giant Monsanto Co. (MON) is already a global leader in the development of genetically engineered crop seeds.
Now the St. Louis-based firm is exploring the potential for biofuels, one of the hottest sectors in the alternative energy realm.
Monsanto and the Hayward, Calif.-based Mendel Biotechnology Inc. have joined forces to study how certain prairie grasses could be transformed into biofuels.
The terms of the deal were not released. But the companies aren’t strangers. In fact, Monsanto and Mendel say that they’ve spent more than a decade collaborating on the development of “biotechnology traits” for such crops as corn, soy, cotton and canola. And…
1May2008 | Money Morning | Comments Off | ContinuedMonsanto Mania: The Seed of Profits
There has been a lot of negative sentiment in the market lately: Inflation is on the rise, production and manufacturing has halted, and consumer spending – which represents 70% of U.S. GDP – is on the fall.
However, through all of the market angst, investor fear, and economic slowdown – Monsanto’s (MON) stock managed to appreciate 137% in 2007, compared to a measly 6.5% return on the Dow Jones. Monsanto’s huge rally is absolutely fascinating and we here at the StrategyLab Open would like to jump in and give it the basic rundown.
Who is Monsanto? What do they do?
Monsanto is…
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