Why ICL Group Shares Are Soaring Higher Today

Israeli chemical and specialty material producer ICL Group's (NYSE: ICL) first-quarter results came in much better than expected, and the company backed it up with a dramatic boost to full-year guidance. Investors are buying in, sending shares of ICL up as much as 14% in Wednesday trading. As of 2:20 p.m. ET, they were up 11.29%.

ICL, short for Israel Chemicals Limited, is a producer of bromine, potash, phosphate and other materials for global food, agriculture, and industrial markets. On Wednesday morning, the company reported earnings of $0.49 per share on revenue of $2.53 billion, easily surpassing analyst expectations for a $0.13 per-share profit on sales of $1.82 billion.

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Source Fool.com