Today’s Top Stock Earnings Surprises (MON, HNZ)

Monsanto Company (NYSE:MON) shares plunged 5% to $53.17 after the company provided the full year guidance , that at the low end of its prior view as the fourth quarter "tracked well with management expectations."

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The company in May cut its full-year forecast to $2.40 to $2.60 a share as it said it would cut the variety of Roundup products and slash prices closer to rivals.

Chief Financial Officer Carl Casale said Tuesday that the company's restructuring of it Roundup business to compete with lower-price rivals was a success, noting stronger-than-expected volume, especially in the U.S. The company is also extending its restructuring program to cover an estimated $180 million, with about $150 million of the charges, or 22 cents a share, likely in the fourth quarter related to the restructuring program.

The company expects several tax benefits will lower its projected tax rate below its prior forecast of more than 29% to 30% for the fiscal year.

Monsanto will report fourth-quarter results on Oct. 6.

Monsanto Company (Monsanto)along with its subsidiaries, is a worldwide provider of agricultural products for farmers. The Company’s seeds, biotechnology trait products, and herbicides provide farmers with solutions to produce foods for consumers and feed for animals.

 H.J. Heinz Company (NYSE:HNZ) shares jumped 0.80% to $46.46 after the company guided a higher than the estimated first-quarter earnings.

The company said that earnings for the quarter ended July 28 were 75 cents a share, with total revenue rising 1.6% and growth on an organic basis--which typically excludes acquisitions, divestitures and currency changes--in excess of 3%. Analysts polled by Thomson Reuters recently expected earnings of 73 cents and total revenue growth of 2.4% to $2.53 billion.

The company is scheduled to release full first-quarter results Wednesday.

Johnson noted that since nearly two-thirds of the company's sales come from abroad it is likely to see currency fluctuation impacts for the fiscal year.

President and Chief Executive William R. Johnson said ahead of the company's annual meeting Tuesday that the company "is off to a good start" as it affirmed its prior earnings estimate for the year while noting consumer spending and the economy remain a challenge. Still Heinz expects to see operating free cash flow of more than $1 billion for the second straight year.

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