Monsanto Lifts Guidance, Shares Rise

NEW YORK ( TheStreet) -- Shares of Monsanto ( MON) rose in premarket trading Wednesday after the agriculture giant's second-quarter earnings beat analysts' estimates.

Monsanto reported profit of $1.2 billion, or $2.24 a share, up from year-earlier earnings of $1 billion, or $1.88. Analysts were expecting second-quarter profit of $2.12 a share.

Monsanto also raised its 2012 full-year earnings guidance to between $3.49 and $3.54 a share. Its previous 2012 full-year guidance was between $3.34 to $3.44 a share.

Monsanto shares gained 1.28% in premarket trading Wednesday to $82.85.

-- Written by Alexandra Zendrian

>To contact the writer of this article, click here: Alexandra Zendrian

>To submit a news tip, send an email to: tips@thestreet.com.

>To follow the writer on Twitter, go to Alexandra Zendrian.

If you liked this article you might like

Why Bayer's $66 Billion Takeover of Monsanto Probably Won't Happen Until 2018

Hurricane Maria Has Quickly Become Another Category 5 Storm

Democrats Target Megamergers in Populist Political Play

Bayer, Monsanto Merger Under Scrutiny by EU Commission

Monsanto's Confusing Weed Killer Instructions Drive Farmers to Court