Good morning from the business news desk of the Star Tribune.
Stratasys Ltd., the Eden Prairie-based maker of 3D printers that has been on a fast growth trajectory the past two years, reported first-quarter profit of $4.1 million this morning. That's a turnaround from a net loss of about $8 million a year ago. Revenue grew 54%. The results were in-line with expectations and revenue was even above forecasts. But the stock looks set to open down about 6% in a few minutes.
US futures are now marginally lower but may open mixed. Stocks in Asia and Europe traded higher today.
And I forgot to mention that this morning we'll also see the monthly WASDE report from the USDA. That's the World Agricultural Supply and Demand estimates. The report today is especially significant because it is the first official snapshot of the new crop year. The Ag Department's researchers will provide their first estimate of how stocks for corn and soybeans will end the 2014-15 season. If you're wondering why it extends into next year, it's because it looks at growing seasons in the southern hemisphere, too. The report will also reconcile "old-crop" figures. It's coming at 11.