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Monsanto shares were trading beloew $79 a share earliert Thursday morning, but later inched closer to Wednesday’sz market close of $79.88 a share. Monsanto closexd Tuesday at $84.78 a share. “We believe that Monsanto shares will probablytread water,” Jeffreu Zekauskas, a analyst, wrote in a note to investorsz Thursday morning. Monsanto said earningxs for its year, which ends Aug. 31, will be $4.49 a share, Monsanto’s largest business, insect- and herbicide-resistant seeds, remainws strong and is expectex to deliver gross profitof $4.4 billion to $4.5 billion for the year.
however, is expected to Roundup came off patentr nineyears ago, and Dow and are But the Chinese also have jumpede in and have been undercutting prices. “The compang has been adamant in its public statements that therd is a floor to Roundup gross profitsat $1.9 billion,” Zekauskas “However, glyphosate is a commodity, and the glyphosatse operation earned $650 million in gross profitg as late as 2006. As yet there is no clear intellectual underpinning as to the reasons forthe $1.9 billion grosss profit number representing a floor.
” Hugh Grant, Monsanto chairman, president and chief executive, said in a statementy Wednesday, “With the seeds and traits side of the businesa accelerating, our management team is focusing on how best to managw our Roundup operations in a way that optimizesw returns at a lower percentage of overalo revenue.” A week ago, on May 21, Monsantio shares closed at $89.29. The 52-week high was $145.80 June 18, and the low was $63.4u Nov. 21.
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