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Hershey reports earnings and sales that beat expectations
Hershey Co. HSY, +0.83% reported first-quarter net income of $350.2 million, or $1.65 per share, up from $125.0 million, or 58 cents, for the same period last year. Adjusted EPS was $1.41, ahead of the $1.40 FactSet consensus. Sales totaled $1.97 billion, up from $1.88 billion year-over-year and exceeding the $1.94 billion FactSet consensus. Hershey expects 2018 sales to come in on the low end of the previously announced 5%-to-7% range. Sales in 2017 totaled $7.52 billion.
Hershey earnings and sales miss consensus
Hershey Co. HSY, +0.73% reported fourth-quarter net income of $181.1 million, or 85 cents per share, up from $116.9 million, or 55 cents per share, for the same period last year. Adjusted EPS was $1.03, below the $1.07 FactSet consensus. Sales totaled $1.94 billion, down from $1.97 billion and missing the $1.96 billion FactSet consensus. Hershey attributed the sales decline, in part, to the timing of shipments and the launch of the Hershey's Cookie Layer Crunch bar in the prior year.
Skinny Pop parent Amplify's Snack stock rockets after $921 million Hershey buyout deal
Shares of Amplify Snack Brands Inc. BETR, -2.51% the parent of Skinny Pop popcorn, rocketed 71% in premarket trade Monday, after the company agreed to be acquired by Hershey Co. HSY, +0.69% in a deal that gives Amplify a market value of $921 million. Under terms of the deal, Hershey will pay $12.00 in cash for each Amplify share outstanding, which is 71.4% above Friday's closing price of $7.00. Including debt, the deal is valued at $1.6 billion.
Food makers try to get on shopping list
--Campbell's putting soup ads on milk, others use recipes to get on shopping list --Strategies try to grow sales volumes while shoppers remain cautious NEW YORK (MarketWatch) -- The latest prime piece of advertising space for food companies is in the fridge.
U.S. stock futures steady after selloff as deluge of major tech earnings await
U.S. stock futures struggled for direction on Thursday, a day after the S&P 500 and the Dow posted their biggest drops in more than seven weeks, as traders looked ahead to a string of high-profile tech earnings. What are stock-index futures doing? Futures for the Dow Jones Industrial Average YMZ7, +0.00% rose 5 points to 23,306, while those for the S&P 500 index ESZ7, -0.03% slipped 0.50 point to 2,558. Futures for the Nasdaq-100 index NQZ7, +0.01% advanced 0.75 point to 6,065.25.
Hershey earnings and revenue beat estimates
Hershey Co. HSY, -0.69% reported third-quarter net income of $273.3 million, or $1.28 per share, up from $227.4 million, or $1.06 per share, for the same period last year. Adjusted EPS was $1.33, ahead of the $1.29 per share FactSet consensus. Revenue for the quarter totaled $2.03 billion, up from $2.00 billion last year and ahead of the $2.01 billion FactSet consensus. Hershey's board approved a new $100 million stock repurchase program.
Hershey shares jump 3% as Bernstein upgrades to outperform
Shares of chocolate maker Hershey Co. HSY, +2.52% jumped 3% Thursday, after Bernstein upgraded the stock to outperform from market perform and said a 37% decline in cocoa costs since last summer should boost margins. Cocoa costs account for 10% to 15% of Hershey's cost of goods sold, according to Bernstein's estimates, and the commodity is expected to continue to decline in price in the next few years.
U.S. stock futures steady as market waits for Fed decision, earnings rush
U.S. stock futures indicated a muted open Wednesday, as traders braced for fresh signals from the Federal Reserve and another round of earnings reports from big names such as Ford and Facebook. S&P 500 futures ESU7, +0.09% edged up by 2.40 points, or 0.1%, to 2,476.50, while Dow Jones Industrial Average futures YMU7, +0.10% inched higher by 23 points, or 0.1%, to 21,583.00. Nasdaq-100 futures NQU7, +0.01% were roughly flat at 5,934.25.
Hershey reports Q2 profit, earnings beat and increases quarterly dividend
Hershey Co. HSY, +0.13% reported a second-quarter profit and earnings beat on Wednesday and announced an increase in its quarterly dividend. Earnings for the latest quarter rose to $203.5 million, or 95 cents per share, from $146.0 million, or 68 cents per share in the year-earlier period. Adjusted earnings-per-share were $1.09, compared with the FactSet consensus of 90 cents. Revenue rose to $1.66 million from $1.64 million, above the FactSet consensus of $1.65 million.
U.S. stock rally poised to stall as investors wait for Trump’s ‘big’ tax plan
U.S. stocks looked set for a muted open Wednesday, holding off from building on the prior day’s milestone-setting rally, as investors waited for an announcement on the Trump administration’s tax reform plan. But a stream of earnings releases due premarket could provide some impetus, with PepsiCo Inc., Procter & Gamble Co. and Twitter among the prominent companies expected to report.
Snap’s market cap surpasses Twitter, Hershey
It just made its debut on the public market, but Snap Inc.’s valuation already surpassed several established names. Snap SNAP, +3.68% the parent of Snapchat, started trading on the New York Stock Exchange Thursday and closed at $24.53, up 44% from its issue price, which gave it a public market capitalization of $28.4 billion. The closing market cap makes Snap more valuable than Hershey Co. HSY, -0.02% and Twitter Inc. TWTR, +0.60% among others.
Hershey to lay off 15% of its workers in wake of overhaul
Hershey Co. HSY, +0.51% said late Tuesday it plans to lay off 15% of its global workforce, primarily hourly workers outside the U.S., to implement a program that calls for growing its core candy business and expanding its snacks offerings. The multiyear program is designed to improve profit margins through "supply chain optimization, a streamlined operating model and reduced administrative expenses, with savings primarily being achieved in 2018 and 2019," Hershey said in a statement.
5 reasons to bank on biotech stocks now
Depending on when you invested in biotech stocks, these picks could be either the best thing or the worst thing about your portfolio. From early 2013 to mid-2015, the sector went on an amazing run; while the S&P 500 SPX, -0.12% gained about 50%, major biotech ETFs like the iShares Nasdaq Biotechnology Index ETF IBB, -0.22% and the SPDR S&P Biotech ETF XBI, -0.20% roughly tripled. If you were bold enough to pick individual names, like Inovio Pharmaceuticals Inc.
Outlooks for the Age of Trump are top focus of earnings season
Optimism concerning President Donald Trump’s pro-business agenda factors into the stock market’s record levels, but how Corporate America is telegraphing that optimism into their outlooks is even more crucial if stocks are to remain at or climb past those levels. Stocks finished the week higher Friday, after the Dow Jones Industrial Average DJIA, -0.04% finally broke through the psychologically relevant 20,000 barrier earlier in the week.
Hunting down the year’s 5 hottest M&A targets
There were a lot of fireworks for investors in 2016, so you would be forgiven if you forgot how many big-time buyouts we saw last year. But in the wake of the announced $30 billion acquisition of Actelion Ltd. ALIOY, -0.07% ATLN, +0.29% by Johnson & Johnson JNJ, +1.38% a few days ago, it’s worth revisiting the topic. From the $26 billion buyout of LinkedIn by Microsoft Corp.
George Soros buys stakes in Alphabet, Netflix, dumps Disney, General Motors
Copyright ©2016 MarketWatch, Inc. All rights reserved. By using this site you agree to the Terms of Service, Privacy Policy, and Cookie Policy. Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. Intraday data delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc. All quotes are in local exchange time. Real time last sale data provided by NASDAQ.
Hershey’s third-quarter earnings rise
Hershey Co. said revenue and profit rose in its third quarter as the chocolate maker continues to search for a new leader and craft a path forward as an independent company after a rejected takeover. Hershey HSY, -0.67% now expects annual adjusted earnings per share to be between $4.28 and $4.32, above its previous range of $4.24 to $4.28. Analysts had expected annual earnings per share of $4.26. Hershey continues to expect annual sales to rise 1%.
Hershey bets Cookie Layer Crunch snack will re-energize brand
The Hershey Co.’s next big play for the snack-loving population is the Cookie Layer Crunch, a product that they think has everything the consumer could want. “We know that snacking is growing faster than the total food market.
Wall Street faces choppy day as traders wait for rate clues
U.S. stock futures struggled for direction on Tuesday, with investors playing a waiting game in the runup to the key jobs report later this week, as they weigh the prospects for an interest rate rise. Investors will be watching comments from Federal Reserve Vice Chairman Stanley Fischer later this morning, to see whether he continues the hawkish tone taken by Fed Chairwoman Janet Yellen.
Hershey shares plunge as Mondelez drops its $23 billion purchase bid
Mondelez International Inc. has ended talks regarding a possible acquisition of Hershey Co., saying it determined there was “no actionable path forward” amid recent shareholder developments at the chocolate maker. Hershey HSY, +0.71% shares fell 11% to $98.93 in recent after-hours trading, while Mondelez MDLZ, -0.05% rose 3.6% to $44.60.
Hershey shares dive after Mondelez calls off deal talks
Mondelez International Inc. MDLZ, -0.05% announced Monday that it is no longer negotiating with The Hershey Co. HSY, +0.71% on a potential acquisition, sending Hershey shares plunging. Hershey shares soared to record highs in June after The Wall Street Journal reported that Mondelez offered $107 a share for the candy company. Hershey rejected that $23 billion bid, and Mondelez said further talks were unsuccessful.
La escasez de cacao infla el precio del chocolate
La industria se ve obligada a moderar las alzas, aunque la manteca de cacao subiу 21% en un aсo. El rechazo de Hershey Co. a la oferta de adquisiciуn por US$23.000 millones que le hizo Mondelz International Inc.
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