Monsanto sales rise 31%

From Marketwatch.com - Monsanto tops profit forecast

NEW YORK (MarketWatch) -- Monsanto Co. reported a first-quarter profit Wednesday that topped its own raised forecasts from a month ago, citing stronger seeds and herbicide sales. Shares of St. Louis-based Monsanto sold off early after it said its 2006 earnings would be at the high end of its previous outlook but below the Wall Street consensus. The stock then bounced back to close with a 25-cent gain at $80.07. It rallied more than 3% Tuesday. First-quarter net income at the seed and agricultural chemical company rose to $59 million, or 22 cents a share, reversing a $40 million, or 15 cents a share, loss, from a year ago.