Monsanto (NYSE:MON) reported fiscal third-quarter earnings that topped analysts’ estimates this morning before the bell. The seed company’s net income increased 77% to $680 million in the last quarter. Sales rose 21 percent to $3.59 billion. Monsanto Earnings Cheat Sheet: Rising Revenue Helps Margins Expand, Profit Rises>>
Late in the day Tuesday, Sealy (NYSE:ZZ) reported a loss of $377,000 in their second quarter. There was zero profit per share for the latest quarter and only one cent a share during the same period last year. However, there were about 62% fewer weighted average common shares outstanding during the second quarter, when sales reached $321.3 million, up from last year’s $290.6 million during the same period last year. Shares are up 14% in pre-market trading.
Shaw Group (NYSE:SHAW) reported a net loss in their third quarter of nearly $70 million, or 89 cents a share, down from last year’s $68.2 million profit during the same period last year. Quarterly revenue dropped from $1.79 billion to $1.49 billion.
Bank of America (NYSE:BAC) is close to reaching an $8.5 billion settlement over mortgage-backed securities it sold to investors before the housing collapse. When the settlement is finalized, it will be the largest single payout in the industry to date.
Dell (NASDAQ:DELL) announced plans Tuesday to buy back over $2 billion in stock in the current fiscal year in addition to the $1.6 billion it has already repurchased this year. “Dell is committed to a capital allocation strategy that includes investments in developing and acquiring new intellectual property, enhancing our sales capabilities and in our ongoing stock-repurchase program,” said Dell CFO Brian Gladden. DELL Earnings Cheat Sheet>>
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