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Mondelez International Inc. shares fell 1.2% in Wednesday premarket trading after the food giant reported second-quarter sales that missed estimates. The company reported net income of $464 million, or 29 cents per share, up from $406 million, or 25 cents per share, for the same period last year. Adjusted earnings were 44 cents per share, beating the 40 cents per share FactSet consensus. Revenue totaled $6.30 billion, down from $7.66 billion for the same period last year and falling short of the $6.33 billion FactSet consensus. The 17.7% revenue decline was driven by Mondelez’s deconsolidation of the coffee business and the Venezuela operations, as well as currency headwinds, the company said. The company expects adjusted EPS to rise between 3 cents and 5 cents for the year. Mondelez reported earnings of $1.75 last year, and the FactSet consensus for 2016 is $1.83. Mondelez stock is up 7.7% for the past year while the S&P 500 Index is up 4.9% for the same period.

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Eqiq Systems , a legal technology provider, said Wednesday it has agreed to be acquired by OMERS Private Equity and funds managed by Harvest Partners LP in a deal valued at about $1 billion. The buyers will pay $16.50 per Epiq share, equal to a 42% premium over its closing price Feb. 19, the last trading day before a media report speculating about potential bids for the company, it said in a statement. The deal is expected to close in the fourth quarter, at which time Epiq will be combined with DTI, a legal process outsourcing company owned by OMERS. Epiq shares were halted in premarket trade, but are up 10% in the year so far, while the S&P 500 has gained 6%.

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Shares of T-Mobile US Inc. saw a more than 4% pop in premarket trade Wednesday after the wireless phone company reported second quarter earnings that beat Wall Street expectations. T-Mobile said net income for the quarter amounted to $225 million, or 25 cents per share, compared with $479 million, or 42 cents share during the same quarter a year ago. The FactSet consensus on earnings per share was 20 cents. Revenue for the quarter rose 12.8% to $9.20 billion. The FactSet revenue consensus was $9.02 billion. The company said it added 1.9 million customers in the quarter, making it the 13th consecutive quarter adding more than one million customers. Shares of T-Mobile are up nearly 15% in the year to date, outperforming the S&P 500 Index , which is up more than 6%.

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The Boeing Co. shares rose 3% in premarket trade Wednesday, after the aerospace giant posted a smaller-than-expected loss for its second quarter. Boeing said it had a net loss of $234 million, or 37 cents a share, in the quarter, after profit of $1.1 billion, or $1.59 a share, in the year-earlier period. The company said it had a core loss per share of 44 cents, narrower than the 92 cents loss consensus of FactSet analysts. Revenue rose to $24.8 billion from $24.5 billion, ahead of the FactSet consensus of $24.2 billion. The loss was due to a $3.23-per-share charge related to previously announced 787 research and development reclassification and 747 and tanker charges. “Actions taken during the quarter that impacted our earnings were the right, proactive steps to reduce risk and strengthen our position for the future,” Chief Executive Dennis Muilenburg said in a statement. The company said it now expects full-year GAAP EPS of $6.40 to $6.60, down from previous guidance of $8.45 to $8.65, because of the same charges. Non-GAAP EPS is expected to range from $6.10 to $6.30, down from a previous range of $8.15 to $8.35. Shares are down 6.7% in the year so far, underperforming the Dow Jones Industrial Average ps: djia], which is up about 6%.

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Mondelez International Inc. said Wednesday that it will enter the $2.8 billion China chocolate market with the Milka brand. More than a dozen core products along with special edition items will land on shelves in September. Mondelez has been in China for 30 years, and entered China’s gum market in 2012, which has grown into a $200 million business, the company said. Mondelez shares are inactive in premarket trading, but up 7.7% for the past year. The S&P 500 Index is up 4.9% for the last 12 months.

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Six Flags Entertainment Corp. missed second-quarter earnings and revenue expectations Wednesday. Earnings for the latest quarter decreased to $60.9 million, or 64 cents per share, from $65.5 million, or 67 cents per share in the year-earlier period. The year-earlier period benefited from a one-time tax benefit, the company said. Earnings-per-share of 64 cents were below a FactSet consensus of 69 cents per share. Revenue rose to $407 million from $386 million, compared with the FactSet consensus of $409 million. Six Flags shares slumped close to 1% in pre-market trade. Shares of the company have declined 3.1% over the last three months, compared with a 3.5% rise in the S&P 500 .

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Sequenom Inc.’s stock nearly tripled in premarket trade Wednesday, after the patient management information company said it agreed to be bought by Laboratory Corp. of America Holdings in deal valued at $302 million, or $371 million including debt. Under terms of the deal, LabCorp will pay $2.40 for each Sequenom share outstanding, which is 182% above Tuesday’s closing price of 85 cents. Sequenom’s stock has closed below $1 since June 27. It has tumbled 48% year to date through Tuesday, while LabCorp shares had climbed 12% and the S&P 500 had gained 6.1%.

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Coca-Cola Co. shares fell 1.2% in Wednesday premarket trading after the beverage giant reported sales that fell below estimates and guided for a 2016 adjusted earnings decline. The company said it had second-quarter net income of $3.45 billion, or 79 cents per share, up from $3.10 billion, or 71 cents per share, for the same period last year. Adjusted earnings were 60 cents per share, beating the 58 cents per share FactSet consensus. Revenue for the quarter totaled $11.54 billion, falling below the $11.64 billion FactSet consensus. Coca-Cola now expects fiscal 2016 adjusted earnings per share to fall between 4% and 7% versus the previous year’s adjusted earnings of $2 per share. The company expects full-year share repurshares between $2 billion and $2.5 billion. Coca-Cola shares are up 4.5% for the year to date while the S&P 500 Index is up 6.1% for the same period.

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Comcast Corp.’s stock gained 1.2% in light premarket trade Wednesday, after the cable operator beat second-quarter profit and sales expectations. Earnings declined to $2.03 billion, or 83 cents a share, from $2.14 billion, or 84 cents a share, in the same period a year ago. The FactSet consensus was for EPS of 81 cents. Revenue increased to $19.27 billion from $18.74 billion, beating the FactSet consensus of $19.00 billion. Cable communications revenue rose 6% to $12.44 billion, compared with expectations of $12.43 billion, while NBC Universal revenue slipped 1.8% to $7.10 billion, above expectations of $6.79 billion. Customer relationship net additions increased by 115,000 to 28.1 million. “Despite an expected difficult comparison to last year’s record second quarter film slate, NBCUniversal achieved solid results, driven by strength in our TV businesses and Theme Parks, which benefited from the successful opening of The Wizarding World of Harry PotterTM in Hollywood,” said Chief Executive Brian Roberts. The stock has climbed 19% year to date through Tuesday, while the S&P 500 has gained 6.1%.

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From:: Stock Market News