- Monsanto Co., the world's largest seed company, said Tuesday it expects full year earnings at the low end of its previous expected range and is cutting up to 700 more jobs.
- The St. Louis company expects ongoing earnings, which excludes some items, between $2.40 per share and $2.45 per share for the fiscal year that ends Tuesday. The previous expected range was $2.40 to $2.60 per share. Analysts polled by Thomson Financial, who tend to leave out one-time gains and losses from their estimates, on average predict a profit of $2.49 per share.
- The job cuts will lead to $90 million in severance and benefit costs, $60 million in facility closure expenses and $30 million in asset write-downs.