Monday P.M. Report

Mosaic Co. profits triple in Q1 but miss estimates: The Mosaic Co. earned three times as much in its most recent quarter as it did during the same period a year ago, with the company roding higher volumes and prices for its fertilizer ingredients. Mosaic, based in Plymouth, reported earnings in its first fiscal quarter of 2011 of $297.7 million, or 67 cents per share, up from $100 million, or 23 cents per share a year ago. Mosaic’s Q1 earnings missed analysts estimates of 72 cents per share but beat the consensus estimate of $1.97 billion revenue for the quarter, according to Thomson Reuters. Read full story

3M Co. will drop retirees from health plans and steer to Medicare: 3M Co., citing new federal health laws, said today it won’t cover retirees with its corporate health-insurance plan starting in 2013. Instead, the company will direct retirees to Medicare-backed insurance programs and will provide reimbursement for that coverage. It’ll also reimburse retirees who are too young for Medicare; the company didn’t provide further details. Read full story

Former Hecker dealership may become transit center: The Prior Lake City Council is expected to vote tonight on whether to help fund a new transit center on the site of Denny Hecker’s former Shakopee Dodge dealership. The Minnesota Department of Transportation, Scott County Board and Shakopee City Council have already approved a plan to turn the former dealership into a transit center for local and express bus service. Read full story

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