Monsanto Company Reports Higher Profit (LEN, MON, UNF, NOK, CLX)
Lennar Corporation (NYSE:LEN) stock surged 4.05% to $28.50 as the company is in talks with the China Development Bank for around $1.7 billion in capital to jump-start two long-delayed San Francisco projects that would transform two former naval bases into large-scale housing developments. Additionally, the company’s Board of Directors has declared a quarterly cash dividend of $0.04 per share for both Class A and Class B common stock payable on July 25, 2012 to holders of record at the close of business on July 11, 2012.
Monsanto Company (NYSE:MON) shares climbed 3.50% to $80.58 after the company posted third quarter net income of $937 million or $1.74 per share from last year’s $692 million or $1.28 per share. Earnings per share from on-going businesses were up to $1.63 from $1.28 in the same quarter a year earlier. . Net sales increased 17% to $4.22 billion from a year ago period. Analysts expected the company to report earnings of $1.60 per share on revenues of $4.00 billion.
UniFirst Corp (NYSE:UNF) reported third quarter revenues of $320.9 million, up 10.1% from $291.6 million for same period a year ago. Net income for the quarter was $27.5 million ($1.37 per diluted share), as compared to $18.4 million ($0.93 per diluted share) reported in the year ago period. Looking forward, the company expects fiscal 2012 revenues to be between $1.252 billion and $1.257 billion and diluted earnings per share to be between $4.60 and $4.70.
Nokia Corporation (ADR) (NYSE:NOK) shares gained 1.85% to $2.20 in after the company’s Chief Executive Stephen Elop rejected rumours that the company’s software partner Microsoft Corp. is planning to manufacture its own smartphone.
The Clorox Company (NYSE:CLX) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and expanding profit margins.