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Monsanto Reports; Global Payments and US Airways Soar to Highs; Apple’s Pipeline Problem

Dan Berman
Hot Stock Minute
Monsanto Reports; Global Payments and US Airways Soar to Highs; Apple’s Pipeline Problem

Monsanto (MON) is down 3% after reporting earnings ahead of the opening bell. The seed maker posted losses of 47-cents a share, even worse than the 43-cent loss which was expected. Sales also missed at $2.2-billion worldwide. Monsanto has been expanding into developing markets like Asia and South America. In fact in June, China approved the import Monsanto soybeans which are genetically modified to repel insects. Meanwhile, the company is facing criticism from government officials here at home, as well as consumers. Monsanto shares are going into today's regular trading session up 10% year-to-date.

Global Payments (GPN), which we also highlighted yesterday ahead of its earnings, has been trading more than 6% higher now that its report is out. Here's why: Earnings of $1 a share, a nickel better than expectations. Revenue also topped forecasts at $630-million. In addition, the company upped its outlook, announced the speed-up of share repurchases, and named a new CEO. As of yesterday's close, Global Payments had been up 10% year-to-date. The gains this morning put the stock at a new 52-week high.

Another company soaring to a new 52-week high is US Airways (LCC). Shares ascended nearly 4% yesterday to a price approaching $20 a share. The climb came on two positive developments in the airlines' attempt to merge with American. First, the Justice Department lost a bid to delay its anti-trust case against the companies. Second, Texas has dropped out of the lawsuit. Shares of US Airways are now up 41% year-to-date.

Apple (AAPL) is down fractionally in early trading. Reuters is reporting that Apple is having supply chain problems with an updated iPad mini. According to the report, Apple was hoping to roll-out minis this month with a high-resolution screen dubbed a retina display. Google (GOOG) and Amazon (AMZN) are already offering the displays on similar tablets, as does Apple on some of its larger iPads. By the way, shares of Apple were up more than 2% yesterday, on word that shareholder Carl Icahn met with CEO Tim Cook, pushing for a $150-billion share buyback. Apple is currently down 26% over the last year.