U.S. seeds and agrochemicals company Monsanto, which is being acquired by Germany’s Bayer, reported a quarterly profit, compared with a year-ago loss, helped by sales of corn and soybean seeds. The world’s largest seed supplier’s shares were up about 1 percent at $120.65 in premarket trading on Wednesday. Monsanto said sales of corn seeds and
PepsiCo reported weaker-than-expected North American beverage sales, as the beverage giant struggled to toe the line between defending its core brands against spending to promote its newer ones. Pepsi also blamed declining store traffic and a colder summer decreasing demand for its historically strong performing Gatorade drinks “This summer, we directed too much of our
Lennar, the No.2 U.S. homebuilder, reported a higher-than-expected quarterly profit on Tuesday as it sold more homes at higher prices. The shares of the company were up 2.7 percent at $54.25 in light premarket trading. Home orders, a key indicator of future revenue, rose 8.4 percent to 7,610 homes in the third quarter ended Aug.
While Olive Garden’s same-store sales grew 1.9 percent in the first quarter, its 12th-consecutive quarter of positive growth, they fell short of Wall Street’s expectation of 2.5 percent, according to StreetAccount. Darden said that Olive Garden’s same-store sales would have been up 2.2 percent if not for Hurricane Harvey. Darden’s Bahama Breeze also saw same-store
General Mills reported a smaller-than-expected quarterly profit, hurt by lower sales of its yogurts and cereals in North America. The Cheerios cereal maker’s shares fell 4.3 percent to $53 in premarket trading on Wednesday. General Mills said its U.S. yogurt sales recorded a double-digit drop as demand for Yoplait Greek and Yoplait Light products remained
Oracle was the worst-performing stock in the S&P 500 on Friday, tumbling more than 6 percent in its worst day in 4 years. The company reported stronger-than-expected earnings on Thursday for the first quarter of its 2018 fiscal year, which ended on August 31. But the stock turned negative after the company gave guidance for
Then-Southwest Airlines CFO Laura Wright said in October 2005 that the company lost between $15 million and $20 million due to the travel shutdowns following Katrina and Rita. Still, the year-over-year figures were not impacted “due to a similar impact from the four hurricanes we had in the third quarter of last year,” she said.
Oracle stock rose by nearly 2 percent in extended trading Thursday immediately after the company reported stronger-than-expected earnings for the first quarter of its 2018 fiscal year, which ended on August 31. But the stock turned negative after the company gave guidance for the next quarter. EPS: Excluding certain items, 62 cents in earnings per
Disney CEO Bog Iger warned profits this year would be similar to last year, sending shares of the media giant and others in the industry tumbling on Wednesday. Iger said the company will report earnings per share this year “roughly in line” with what Disney generated in fiscal year 2016 at the Bank of America
GoPro said Thursday that revenue and gross margin for the third quarter are expected to be at the high end of their previously announced ranges. The struggling action camera maker sees Q3 revenue of $290 million to $310 million and gross margins at 36 to 38 percent. GoPro also forecasts a profitable third quarter on
Canadian yoga and leisure apparel maker Lululemon Athletica reported quarterly profit and sales on Thursday that topped expectations as online sales surged 30 percent thanks to an effort to beef up its e-commerce strategy, and the company raised its outlook. The results helped ease concerns the “athleisure” trend popularized by Lululemon may be cooling. Shares,
Best Buy reported second-quarter earnings and sales on Tuesday that topped analysts’ expectations. Looking ahead, the company has also raised its outlook for the full year. The Minnesota-based retailer said stronger consumer demand for its technology products, such as smartphones and wearable devices, boosted its sales at established stores over the period. Best Buy shares
Sears shares moved sharply higher Thursday after the department store reported making progress toward stabilizing its business. The stock was 7.9 percent higher shortly after market opened. Earlier Thursday, Sears reported a narrower-than-expected loss but said sales continued to erode. The retailer posted a double-digit decline in comparable sales for the second quarter, citing a
Shares of J.M. Smucker and Hormel Foods fell sharply Thursday after weaker-than-expected earnings as consumers continue to turn down packaged foods in favor fresher offerings, especially as Amazon prepares to take over organic grocery chain Whole Foods Market. Shares of Smucker slid nearly 9 percent while shares of Hormel fell 5.3 percent in afternoon trade
Dollar Tree reported better-than-expected quarterly profit and comparable sales, helped by lower costs and discounts as well as a 1 percent rise in same-store sales at its Family Dollar business. Shares of the biggest U.S. dollar-store chain operator rose 9 percent to $81.04 in premarket trading on Thursday after the company raised its profit and
Tiffany reported bigger-than-expected quarterly profit and sales on Thursday, helped in part by higher demand for its fashion and designer jewelry in Japan and lower input costs. Sales at established stores open for more than a year fell 2 percent, steeper than the 1 percent fall expected by analysts polled by research firm Consensus Metrix.
“This has been an unusually disappointing quarter for retailers, with only about half of the companies beating estimates, while over 70 percent in the S&P 500 have beaten those estimates. This is the last week where we could see some positive surprises,” said Erin Gibbs, portfolio manager at S&P Global. Some of the weakness seen
Uber trimmed its losses 14 percent in the second quarter from a year ago, as the ride-hailing giant grew bookings, trips and revenue. The company posted a net loss of $645 million on revenue of $1.75 billion. Revenue this time last year was $800 million. Global trips popped 150 percent from a year ago, while
Mooresville, North Carolina-based Lowe’s reported net income for the second quarter of $1.4 billion, or $1.68 per share, compared to $1.2 billion, or $1.31 a share, one year ago. Excluding a $96 million gain from the sale of Lowe’s interest in its Australian joint venture, the retailer earned $1.57 a share. Revenue increased 6.8 percent,
American Eagle Outfitters surprised Wall Street on Wednesday, reporting same-store sales growth for the second quarter. The teen apparel retailer also posted better-than-expected quarterly revenue and profit, boosted by strong demand for its Aerie line of lingerie. Shares of American Eagle were last climbing about 7 percent on the news. “We are particularly encouraged by
Salesforce reported its second quarter earnings on Tuesday after the bell, and the numbers came in above estimates. Here are the most important numbers: Adjusted EPS: 33 cents vs. 32 cents per share expected by a Thomson Reuters consensus estimate Revenue: $2.56 billion vs. $2.51 billion expected by a Thomson Reuters consensus estimate Despite the
Intuit reported quarterly earnings and revenue that beat analysts’ expectations on Tuesday. Here’s how the company did compared to what Wall Street expected: EPS: 20 cents vs. 17 cents expected, according to Thomson Reuters Revenue: $842 million vs. $804.6 million expected, according to Thomson Reuters For the fiscal first quarter, the company said it expects
U.S. luxury homebuilder Toll Brothers quarterly revenue fell just short of Wall Street estimates as the company’s new line of lower-priced homes targeting millennials weighed on average selling prices. Shares of the company, which narrowed its revenue outlook range and cut the top end of its adjusted gross margin forecast for the full year, were
Medical device maker Medtronic on Tuesday reported a quarterly profit that beat analysts’ estimates, driven by strong demand for its heart and vascular devices. Sales in the company’s cardiac and vascular business, which sells defibrillators, pace-makers, heart valves and stents, rose 5.1 percent to $2.65 billion in the first quarter ended July 28, Medtronic said.
“We believe these industry dynamics will persist through 2017, and we expect comparable sales to be down three to four percent over the remainder of the year,” Johnson added. In response to Foot Locker’s disappointing results and outlook, shares of Nike and Under Armour dropped 4.4 and 3.9 percent, respectively. Entering Friday’s session, Foot Locker
Cosmetics maker Estee Lauder forecast full-year profit ahead of analysts’ estimates and posted higher-than-expected quarterly results, driven by strong demand for its brands such as M.A.C, Tom Ford, and Smashbox. Estee Lauder’s shares rose nearly 5 percent to $103.00 before the bell on Friday. The company said it expects full-year net sales to rise between
Deere reported a second straight quarter of lower- than-expected sales on Friday as demand remained sluggish for its trademark green tractors and harvesting combines, sending the company’s shares down 7 percent in premarket trading. Expectations were high for the company heading into the quarter, analysts said, as it has surprised Wall Street in the past
Clothing retailer Gap reported better-than-expected same-store sales for the second quarter, helped by strong demand for Old Navy products, fewer discounts, and the company’s efforts to better manage inventory. Shares rallied more than 6 percent in extended-hours trading Thursday. The company also said its quarterly net income more than doubled and raised its full-year earnings
Wal-Mart on Thursday reported second-quarter earnings and sales that topped Street expectations, as the big-box retailer continues to expand its online business. Fresh digital initiatives and a growing assortment of products on Walmart.com aided the retailer in boosting online transactions by 60 percent, the company said. Last quarter, e-commerce sales climbed 63 percent, compared to
Alibaba, China’s top e-commerce firm, beat analyst’s estimates with a 56 percent rise in first-quarter revenue, driven by growth in online sales which make up most of its business. Thursday’s results show that Alibaba, one of Asia’s most valuable companies, is benefiting from more and more Chinese buying an increasing proportion of everything from food