Monsanto (MON), one of my Top 5 Blue Chip Growth stocks this month, is up strongly this morning. The company just raised its profit outlook for 2008. Wall Street was expecting second-quarter earnings of $1.34; Monsanto said it will be closer to $1.75 (that's after adjusting for a one-time gain).

For the year, the company now expects EPS to be between $3.15 and $3.25. Monsanto's original forecast was for EPS in the range of $2.70 to $2.80.

The stock is currently up over 10% today. In Blue Chip Growth, I rate MON a strong buy below $116 a share.