Monsanto raises its fiscal 2008 guidance - KWWL - Eastern Iowa Breaking News, Weather, Closings

Monsanto raises its fiscal 2008 guidance

ST. LOUIS (AP) -- Monsanto is raising its fiscal 2008 earnings per share guidance on the strength of its herbicide and genetically-modified crop seeds businesses.

Monsanto Co. expects earnings from an ongoing basis, of $3.64 per share, up from a previous range of $3.58 to $3.60.

Analysts polled by Thomson Reuters expect earnings per share of $3.57.

The company expects sales of its Roundup herbicide and genetically-modified crop seeds to more than double the size of gross profit from 2007 to 2012.

Shares fell $11.26, or 11.6 percent, to $86.81.

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