Morgan Stanley Discusses Earnings From Corn Products International (CPO)

Morgan Stanley has a Equal-Weight rating on shares of Corn Products International CPO after it reported earnings. In a note to clients, Morgan Stanley writes, "Corn Products reported underlying 1Q11 EPS of $1.28 (adjusted for $0.75 gain resulting from a NAFTA dispute settlement and $0.06 of National Starch integration charges), relative to our $0.90 estimate and the consensus $0.89 estimate. Operating income beat our estimate by $0.41 per share, with higher than expected interest expense partially offsetting the beat by $0.04 per share." Shares of CPO are up $1.27 to $56.37, a gain of 2.3%.