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Home / Business / GE, Yum, Molson Coors, Garmin, Amgen and more

GE, Yum, Molson Coors, Garmin, Amgen and more



Check the companies exceeding before the clock:

General Electric – General Electric reported a quarterly profit of 15 cents per share, 4 cents per share above estimates. Revenues also exceeded forecasts, and GE lifted its full-year cash flow forecast.

Yum Brands – Yum earned adjusted penny 80 per share for the last quarter, 14 penny a share shy of consensus forecasts. Revenues also came under projections, hurt by a weaker-than-expected result at Pizza Hut and the KFC units.

Anixter International – The software company agreed to be acquired by private equity firm Clayton, Dubilier & Rice for $ 81

per share in cash. The total value of the deal is $ 3.8 billion including expected debt, and the transaction is expected to close by the end of 2020's first quarter.

Molson Coors – Beer brewer dropped a penny a share less than estimates, with quarterly earnings of $ 1.48 per share. Revenues also fell short of forecasts, and Molson Coors announced a restructuring that would reduce up to 500 jobs.

Garmin – The GPS and fitness equipment manufacturer earned $ 1.19 per share for the past quarter, well above 95 cents an agreement estimate. Revenues also topped the forecasts. Garmin performed better than expected in all units, as well as higher profit margins than expected.

Tupperware – Tupperware earned adjusted penny 43 per share, short of the penny 62 as a consensus estimate for the stock. The income of the housekeeper was also short of forecasts. The company said it is experiencing challenging trends in markets such as the US, China, Canada and Brazil. Tupperware also cut the revenue outlook for the full year.

Johnson & Johnson – J&J said testing did not find asbestos in Johnson's Baby Powder. That testing included a single bottle that the Food and Drug Administration had said contained trace amounts of asbestos, prompting J&J to recall many 33,000 bottles earlier this month.

Fiat Chrysler – Fiat Chrysler said it was in talks about a possible merger with Peugeot manufacturer PSA that could create a combined company worth around $ 50 billion. Fiat Chrysler had left the talks earlier this year to team up with France's Renault.

Amgen – Amgen reported a quarterly profit of $ 3.66 per share, 13 cents per share above estimates. The biotechnology company's revenue also beat the forecasts, and Amgen increased its full-year guidance amid strong sales of biosimilar medicines.

Electronic Arts – Electronic Arts reported quarterly earnings of 96 cents per share, 10 cents per share above estimates. Video game maker revenues also peaked. Electronic Arts had stronger digital sales, including game downloads and in-game purchases.

Mattel – Mattel came in 10 cents a share above the projections, with a quarterly profit of 26 cents per share. Toy revenues were slightly above Wall Street forecasts. Mattel also said it reflects some previous revenue following an internal investigation into accounting issues, and the company's chief financial officer is retiring.

Mondelez International – Mondelez reported a quarterly profit of SEK 64 per share, 4 cents per share above the estimates. Revenues were slightly above projections. The snack manufacturer increased its outlook for the full year as sales volume increased across key markets.

FireEye – FireEye lifted its annual turnover guidance, after doubling its estimates by reporting a quarterly profit of 2 cents per share. The Cybersecurity company's revenue also beat the forecasts as it sold several cloud subscriptions.

Advanced Micro Devices – AMD reported adjusted earnings of $ 0.10 per share, in line with Street forecasts. Revenue was slightly below estimates, although the chipmaker reported better-than-expected results for its data center operations.

Yum China – Yum China beat analysts' estimates by 3 cents A share, with a quarterly profit of 58 cents a share. The restaurant operator's revenue was below forecasts, but so was the sale of comparable restaurants at KFC, Pizza Hut and Taco Bell.

Sony – Sony reported the best ever in Q2, driven by strong sales of image sensors. Sales helped offset a fall in revenue from Sony's gaming division.

Edison International – Edison's Southern California Edison unit said the equipment is likely to have been associated with a 2018 forest fire in California that damaged more than 1,000 homes in Los Angeles and Ventura County.


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