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We recently published a list of 10 Firms Dominate Monday Upsurge. In this article, we are going to take a look at where The Mosaic Company (NYSE:MOS) stands against other firms that dominated Monday upsurge.
Ten companies—predominantly in the healthcare sector—kicked off Monday’s trading with notable gains amid a series of business updates, earnings, and acquisition deals that have fueled investor confidence.
Their gains outperformed mixed trading on Wall Street, with the Dow Jones and S&P’s main index the only gainers, up 0.86 percent and 0.16 percent, respectively. Meanwhile, the Nasdaq Composite dropped by 0.38 percent.
In this article, we will take a look at what buoyed the companies’ share prices.
To come up with Monday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A farmer tending to his crops in a field, with a fertiliser bag nearby.
The Mosaic Company (NYSE:MOS)
Shares of American chemical firm The Mosaic Company (NYSE:MOS) rose by 8.01 percent on Monday to close at $26.82 each following news that the company entered into an agreement with Fosfatados Centro SPE Ltda for the sale of a phosphate asset owned by Mosaic (NYSE:MOS) in Patos de Minas, Brazil.
Upon closing of the transaction, Mosaic (NYSE:MOS) is expected to raise $125 million from the sale, payable over six years.
The transaction is subject to regulatory approvals, including approval by the Brazilian Administrative Council for Economic Defense (CADE), and other conditions precedents.
“This transaction aligns with Mosaic’s strategy to scrutinize and monetize non-core assets and redeploy capital to high-returning areas, and we believe the full value of the Patos asset will be realized in the capable hands of Fosfatados Centro,” said Mosaic Executive Vice President Karen Swager. “We are grateful to our employees who have been dedicated to the continued maintenance of the asset.”
Overall, MOS ranks 5th on our list of firms that dominate Monday upsurge. While we acknowledge the potential of MOS, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MOS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.