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PepsiCo beats profit expectations but sales fall shy

PepsiCo Inc. reported first-quarter earnings that fell to $931 million, or 64 cents a share, from $1.22 billion, or 81 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share was 89 cents, beating the FactSet consensus of 81 cents. Revenue declined 3% to $11.86 billion, just shy of the FactSet consensus of $11.86 billion, as weakness in Quaker Foods North America and Latin America sales offset strength in North America beverages and Frito-Lay North America. The beverage and snack giant affirmed its 2016 outlook for core revenue growth of 4% and EPS of $4.66. The FactSet 2016 EPS consensus of $4.70. The stock, which was still inactive in premarket trade, has climbed 3.9% year to date, while the S&P 500 has gained 1.8.%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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PepsiCo beats profit expectations but sales fall shy

PepsiCo Inc. reported first-quarter earnings that fell to $931 million, or 64 cents a share, from $1.22 billion, or 81 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share was 89 cents, beating the FactSet consensus of 81 cents. Revenue declined 3% to $11.86 billion, just shy of the FactSet consensus of $11.86 billion, as weakness in Quaker Foods North America and Latin America sales offset strength in North America beverages and Frito-Lay North America. The beverage and snack giant affirmed its 2016 outlook for core revenue growth of 4% and EPS of $4.66. The FactSet 2016 EPS consensus of $4.70. The stock, which was still inactive in premarket trade, has climbed 3.9% year to date, while the S&P 500 has gained 1.8.%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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Monday Morning Cup of Coffee: Zillow, Move legal battle gets more complicated

There are two drastically important housing legal battles right now that you need to be paying attention to. One deals with the new housing regulator that rules the block, and the other deals with the two most popular names in online real estate, both game-changers for the industry. Also, it’s finally tax day. Already filed? How were you homeowner tax breaks? …read more

From:: Real Estate Wire

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Calumet plummets nearly 30% after ending cash distribution

Calumet Specialty Products Partners LP fell nearly 30% in late trading Friday after the energy company announced that it would end quarterly cash distributions amid a struggle with profitability. Chief Executive Tim Go said in the announcement that the distribution halt and a debt placement of $400 million will “position us to manage our capital structure with prudence and conservatism during a challenging period for our business.” The company said it expects to report a net loss in the first quarter of $59 million to $83 million, while analysts were expecting on average a net loss of $19 million, according to FactSet. Calumet, which expects to report full earnings information May 5, fell 28.9% in after-hours trading following the announcement after closing with a 7.4% loss at $10.27.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News