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UPDATE: CVS Reports Decline In Q2 Profit
Thursday, August 4, 2011 - 7:27am | 85CVS Caremark Corp (NYSE: CVS) reported a drop in its second-quarter earnings. CVS reported its quarterly earnings at $816 million, or $0.60 per share, down from $821 million, or $0.60 per share, in the year-earlier period. Its revenue climbed to $26.63 billion from $24 billion. However, analysts...
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EARNINGS WATCH
Thursday, August 4, 2011 - 7:24am | 48Kraft (KFT): Q2 EPS of $0.62 beats by $0.04. Revenue of $13.9B (+13.3% Y/Y) beats by $0.75B. Lifts 2011 outlook: Sees op. EPS of at least $2.25, up from prior guidance of at least $2.20, and organic net revenue growth [...]
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Kraft Foods To Split Into 2 Publicly Traded Companies
Thursday, August 4, 2011 - 6:55am | 37Kraft Foods (NYSE: KFT) announced that its Board of Directors intends to create two independent public companies: A high-growth global snacks business and a high-margin North American grocery business.
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UPDATE: Kraft Foods Reports 4.2% Rise In Q2 Profit, Lifts Forecast
Thursday, August 4, 2011 - 6:46am | 133Kraft Foods Inc (NYSE: KFT) reported a 4.2% rise in its second-quarter profit and raised its projections for the year. Kraft's quarterly profit rose to $976 million, or $0.55 per share, from $937 million, or $0.53 per share, in the year-ago period. Its revenue climbed 13% to $13.88 billion. Kraft'...
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US Stock Futures Down As Investors Await Jobless Claims Data, GM Earnings
Thursday, August 4, 2011 - 6:17am | 460US stock futures are lower this morning, as investors are awaiting earnings from General Motors Co (NYSE: GM) and weekly jobless claims data. Futures for the Dow Jones Industrial Average dipped 44 points to 11,774.00 and S&P 500 index futures fell 5.20 points to 1,249.30. Nasdaq 100 futures...
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Costco Reports 10% Rise In July Same-Store Sales
Thursday, August 4, 2011 - 5:36am | 61Costco Wholesale Corp (NASDAQ: COST) reported a 10% rise in its July sales at stores open at least a year. Costco's total sales surged 15% to $6.74 billion. However, analysts were expecting same-store sales to increase 8.6%. Excluding the impact of gasoline prices and foreign exchange, Costco's...
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UPDATE: Unilever Reports 10% Rise In First-Half Earnings
Thursday, August 4, 2011 - 4:49am | 73Unilever NV (NYSE: UN) reported a 10% rise in its first half earnings. Unilever's net profit surged to euro2.235 billion ($3.12 billion), from euro2.035 billion, in the year-ago period. Its sales climbed 4.1% to euro22.1 billion. Unilever said "underlying" sales growth was 7.1% in the second...
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Earnings Scheduled For August 4
Thursday, August 4, 2011 - 3:53am | 495Alpha Natural Resources Inc (NYSE: ANR) is expected to report its Q2 EPS at $1.12 on revenue of $1.47 billion. Kraft Foods Inc (NYSE: KFT) is projected to report its Q2 EPS at $0.58 on revenue of $13.15 billion. CIGNA Corporation (NYSE: CI) is estimated to report its Q2 EPS at $1.29 on revenue of...
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Stocks To Watch For August 4
Thursday, August 4, 2011 - 3:08am | 233Some of the stocks that may grab investor focus today are: Wall Street expects General Motors Company (NYSE: GM) to report its Q2 EPS at $1.20 on revenue of $36.71 billion. GM shares surged 1.21% to $27.50 in after-hours trading. Zumiez Inc (NASDAQ: ZUMZ) reported a 4.9% rise in its July sales at...
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Smart Balance Acquires Glutino Food Group for $66.3M
Wednesday, August 3, 2011 - 4:51pm | 103Smart Balance, Inc. (Nasdaq: SMBL) today announced it acquired 100% of the equity interest of Importations DE-RO-MA, which owns Glutino Food Group, for $66.3 million, from Claridge, a Montreal-based investment firm. Based in Laval, Quebec, Glutino is a manufacturer and marketer of gluten-free...
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The Coca-Cola Company Prices $2.0B of Senior Notes
Wednesday, August 3, 2011 - 4:21pm | 121The Coca-Cola Company (NYSE: KO) today announced that it priced $1.0 billion aggregate principal amount of 1.80% senior notes due 2016 and $1.0 billion aggregate principal amount of 3.30% senior notes due 2021, in a private placement with institutions under Rule 144A and to non-U.S. persons under...
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Fresh Del Monte Produce Increases Quarterly Dividend by $0.05 to $0.10
Wednesday, August 3, 2011 - 4:21pm | 74Fresh Del Monte Produce Inc. (NYSE: FDP) announced today that, as a result of its continued strong operating cash flow and solid performance, its board of directors has voted to raise the Company's regular quarterly cash dividend from five cents ($0.05) per share to ten cents ($0.10) per share,...
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Citi Maintains Coca-Cola Buy, $74 PT
Wednesday, August 3, 2011 - 3:50pm | 85Citi maintained its Coca-Cola (NYSE: KO) Buy rating and $74 price target in a research report published today. In the report, Citi states, "KO generated free cash flow of $2.5 billion during the six months ended July 1, below the $3.4 billion in free cash flow generated in the year-ago period. The...
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Clorox Cleans Up, But Will The Shine Last?
Wednesday, August 3, 2011 - 2:30pm | 712The Clorox Company (NYSE: CLX) reported earnings this morning that were solidly higher than what Wall Street was expecting, but the real news is what is Carl Ichan going to do with the company? The Oakland-based company reported fourth quarter earnings of $1.26 per share on $1.48 billion in...
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The Coca-Cola Company to Commence Exchange Offer
Wednesday, August 3, 2011 - 10:18am | 174The Coca-Cola Company (NYSE: KO) today announced that it plans to commence an offer to certain eligible holders to exchange specified series of outstanding debt securities issued by Coca-Cola Refreshments USA, Inc., a wholly-owned subsidiary of the Company, in exchange for a combination of debt...