Greenbrier Companies Inc (GBX) spiked 12.5% to $48.23 after the manufacturer of freight railcars said second-quarter revenue fell 15.4% from a year ago to $566.30 million. Net income was $34.5 million or $1.09 a share compared with profit of $44.9 million or $1.41 a share in prior year, when stock repurchases peaked.
The company approved 5% increase in quarterly dividend to 22 cents a share. Looking ahead, the rail castings and marine barges producer expects full-year profit between $2.00 billion and $2.40 billion, and railcar deliveries will range from 14,000 to 16,000 units.
Monsanto Co (MON) rose 1.1% to $116 after the world’s largest seeds company posted second-quarter sales up 12% from last year to $5.07 billion. Profit was $1.37 billion or $3.09 a share compared with net income of $1.06 billion or $2.41 a share in prior year. Farmers in the U.S. hope to sow record acreage with soybeans this year.
The company is subject of pending $66 billion takeover bid from Germany-based health and life sciences giant Bayer AG (BAYRY). Monsanto now expects full-year profit at the high range of earlier forecast or from $4.50 to $4.90 a share, excluding one-time items. Completion of the merger is planned by end of the year.