General Mills jumps on beat, Toshiba sues Western Digital, Philips buys US medical device maker

Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today. We start with a couple of earnings reports.

Monsanto (MON), the US agriculture giant that’s being bought by Bayer, reported better-than-expected earnings and revenue for last quarter. The company benefitted from strong demand for its soybean seeds, which saw a 29% jump in revenue.

General Mills (GIS) delivered a beat on both its top and bottom lines for its fiscal fourth quarter after the food giant reined in expenses by scaling back promotions. However, revenue fell 3% as sales continued to slide.

And there’s also some M&A action this morning. Shares of Spectranetics (SPNC) surged in early trading. Philips (PHG) is buying the US medical device maker for about $2.2 billion in cash and debt. The deal will help the Dutch electronics company beef up its health care business.

And the feud between Toshiba and Western Digital (WDC) is heating up. The struggling Japanese conglomerate has filed a $1 billion lawsuit against its US business partner for interfering with the sale of its memory chip division. Toshiba says it needs to sell the chip unit to survive, while Western Digital says Toshiba cannot sell the unit without its consent.

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