Shorts Hedge Their Bets Ahead of Mosaic's 2Q Earnings

Filed under: Major movement, Earnings reports, Options, Agriculture, Potash Corp. of Saskatchewan (POT)

Shares of Mosaic Company (MOS) rallied to a new 52-week high today, topping out at $63.83 in intraday action. The stock seems to be enjoying a halo lift after sector peer Potash Corp./Saskatchewan (POT) was upgraded, but the spotlight will turn to Mosaic after today's closing bell, when the company is slated to unveil its fiscal second-quarter earnings.

Mosaic's performance on the earnings front has been mixed, with the fertilizer firm falling short of analysts' consensus expectations during three of the past four reporting periods. Ahead of tonight's release, analysts surveyed by Thomson Reuters are expecting a second-quarter profit of 35 cents per share, on average, down from Mosaic's year-ago profit of $1.12 per share. Sales are expected to ring in at $1.68 billion.

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Shorts Hedge Their Bets Ahead of Mosaic's 2Q Earnings originally appeared on BloggingStocks on Tue, 05 Jan 2010 17:40:00 EST. Please see our terms for use of feeds.

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