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Mosaic Q2 Profit Rises, Beating Estimates
Posted on Wednesday, January 09, 2008 11:02 AM
Mosaic Co. (MOS) opened at 92.15. So far today, the stock has hit a low of 82.61 and a high of 93.54. MOS is now trading at 88.07, down 0.31 (-0.35%). The stock hit its 52 week high of 99.85 in January and set its 52 week low of 19.49 in January. MOS has been moving upwards for the past year. Fertilizer company Mosaic announced this morning its second-quarter profit rose to $394 million, due to a tax benefit and higher phosphate and potash selling prices. The company posted earnings of 89 cents per share on revenue of $2.2 billion, topping analysts' estimates for earnings of 73 cents per share on sales of $2.17 billion. On the news, a Goldman Sachs analyst upped the stock this morning to "Buy," from "Hold." Technical indicators for the stock are bullish but slightly deteriorating. If you’re looking for a hedged play on this stock, consider a February bear-call credit spread above the $120 range. MOS stock could rise up to 36.3% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]