News Summary

Shares of PepsiCo Inc PEP fell about 1.1% after the company reported a 5% drop in its Q4 profit. PEP posted its quarterly earnings at $1.36 billion, or $0.85 per share, compared with $1.43 billion, or $0.90 per share, in the year-ago period. The company's core earnings came in at $1.05 per share. PEP's revenue increased to $18.12 billion from $13.3 billion. However, analysts were expecting earnings of $1.04 per share on revenue of $17.5 billion. Shares of Sprint Nextel Corp S gained about 3.2% after the company posted a Q4 loss of $929 million, or $0.31 per share, compared with a loss of $980 million, or $0.34 per share, in the year-earlier period. The company's revenue came in at $8.3 billion. However, analysts expected a loss of $0.30 per share on revenue of $8.15 billion. Shares of Goodyear Tire & Rubber Co GT gained about 5% after the company posted a Q4 loss of $177 million, or $0.73 per share, versus a net income of $107 million, or $0.44 per share, in the year-earlier period. Excluding one-time items, the company reported earnings of $0.07 per share. The company's net sales increased to $5.1 billion from $4.4 billion. Goodyear announced its plans to shut its plant in Union City, Tennessee by the end of 2011. Read more from Benzinga's Markets.