Afternoon Movers: Monsanto Disappoints, Apple Climbs on Mini Rumors
Shares of Monsanto (NYSE:MON) declined 1.7 percent this afternoon following financial results for its fourth quarter. The company reported a loss of $229 million (44 cents per share), compared to a loss of $112 million (21 cents per share) a year earlier. Revenue also fell 6.1 percent to $2.11 billion.
Family Dollar Stores (NYSE:FDO) shares jumped are up 3.7 percent this afternoon. For the fourth quarter, the company earned $80.9 million (69 cents per share), compared to $79.8 million (67 cents per share) a year earlier. Revenue rose 10.8 percent to $2.36 billion. “Fiscal 2012 was a year of great progress for Family Dollar. We expanded our merchandise assortment to increase our relevancy to our customers; we continued to improve the shoppability of our stores; and we repositioned our leadership team to better support our growth,” said Howard R. Levine, chairman and chief executive officer. Dollar General (NYSE:DG) shares edged slightly higher on the news.
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Best Buy (NYSE:BBY) shares gained 3.8 percent on Wednesday. Founder Richard Schulze and several private equity firms are reportedly examining the books of the struggling retailer. The process is being seen as the early steps to what may become an $11 billion buyout.
Shares of Apple (NASDAQ:AAPL) are up around 0.9 percent this afternoon. Rumors keep swirling that an iPad Mini will be announced in mid-October. The tech giant typically holds its fiscal fourth quarter earnings conference call in mid-October. However, this year’s call has been scheduled a week later on October 25, raising more speculation for a special iPad event taking place soon.
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