BG holds Q2 FY 2008 earning call.
Amidst very volatile crop prices and relative capital illiquidity, Bunge and CPI have struck a deal to merge operations under the Bunge masthead. Analysts may have very well viewed this as detrimental in the long run by tying up working capital needed to service increasing competition and prices across the agricultural industry.
First quarter profits down 76% from 1Q06. Stock plummets from 77.79 to 72.24.
Bunge announces that it expects to drop more on 1Q07 than analysts had expected. Stock drops from 81.40 to 74.77.
FY net profit guidance is above analyst estimates. Stock jumps from 79.75 to 85.18.
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