Mosaic (MOS) NewsBite - MOS Rises Despite Disappointing Earnings

Posted: Tuesday, October 06, 2009 10:22 AM EDT

Mosaic (NYSE: MOS) opened at $47.69. So far today, the stock has hit a low of $47.37 and a high of $48.91. MOS is now trading at $48.26, up $2.30 (4.99%). Over the last 52 weeks the stock has ranged from a low of $21.94 to a high of $59.34. MOS reported earnings last night, posting a first-quarter profit of $100.6 million, or 23 cents per share, on revenue of $1.45 billion. Analysts were expecting a profit of 35 cents per share on revenue of $1.54 billion. However, shares of the stock are rising this morning, helped by rising grain futures and by comments from company CEO Jim Prokopanko, who said he expects farmers to increase fertilizer purchases due to higher grain prices in 2010. Technical indicators for the stock are neutral and S&P does not currently have a STARS rating for MOS. If you are looking for a hedged play on MOS the stock seems like it could be a candidate for a November out-of-the-money bull-put credit spread below the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]

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