After missing estimates and plunging 11 percent in earnings for their latest reporting period, Syngenta (NYSE:SYT) declined almost 5 percent in New York, as the agrochemical and seed business continues under pressure.
The company ended Thursday's trading session at $43.77, a fall of $2.22, or 4.83 percent.
Profits came in at $1.25 billion for the six-month period ending June 30, down from the $1.4 billion in the same period last year, and missing analysts' estimates of $1.32 billion.
Revenue also missed, although not by much, as it increased from $6.66 billion last year to $6.74 percent this year, gaining 1 percent Estimates were for $6.78 billion in sales.
Guidance wasn't inspiring either, as the company looks to remain level for the rest of 2010 for earnings, assuming the market in Latin America remains robust.
No comments:
Post a Comment