Companies Share Mixed Earnings Results as Street Focuses on Fiscal Cliff Talks

Weekly Wrap Up

Despite the rise of holiday shopping and the amount of spending on Black Friday and Cyber Monday, quarterly results and sales were mixed for many corporations over the past five days. Green Mountain Coffee Roasters (GMCR: Charts, News) saw a large jump in net income, a 22% increase for the fourth quarter. Despite reporting a 4% increase in sales for Tiffany & Co's (TIF: Charts, News) third quarter compared to the same quarter last year, the company offered a bleak full year outlook and saw shares drop.
Other companies such as Groupon (GRPN: Charts, News), ConAgra (CAG: Charts, News) and Cisco Systems (CSCO: Charts, News) made headlines this week as well. All of the following articles are from this week's InvestorGuide section on Stock of the Day Market Commentary. More Market News

Weekly News

Shares of Green Mountain Coffee Roasters (GMCR: Charts, News), the maker of Keurig coffee brewers and its K-Cup single-serving coffee pods, rallied over 24% yesterday after the company raised its quarterly and full-year guidance far above analyst expectations. The stock had crashed 70% since last September, after the company posted disappointing consecutive earnings, which were exacerbated by the arrival of Starbucks’ (SBUX: Charts, News) Verismo single-serve brewer. Click here to read the full article
Shares of jewelry retailer Tiffany & Co. (TIF: Charts, News) plunged on Wednesday, after the company reported a 30% decline in earnings and offered bleak full-year guidance. For its third quarter, which ended on October 31, New York-based Tiffany reported earnings of 49 cents per share, or $63.2 million, down from 70 cents per share, or $89.7 million, a year earlier. Revenue rose 3.8%, or 5% excluding foreign exchange rates, to $853 million. Both bottom and top lines missed analyst estimates of 63 cents per share on revenue of $859 million. Click here to read the full article
Shares of footwear maker Deckers (DECK: Charts, News) rallied over 5% yesterday on fresh takeover rumors, but the small recovery did little to satisfy the company’s long-term investors, who have watched the stock lose 62% of its value over the past twelve months. Financial website Bloomberg recently speculated that Deckers would be an attractive takeover target for private equity firms or publicly traded rivals, such as VF Corp. (VFC: Charts, News), the parent company of rival brands North Face and Timberland. VF Corp. notably outperformed Deckers over the past year, with shares rising 23.7% as Deckers plunged. Click here to read the full article
Shares of book publisher Scholastic (SCHL: Charts, News) plunged last week, after the publisher of "Harry Potter" and "The Hunger Games" reduced its profit and revenue forecasts for the rest of the year. Scholastic had rallied strongly over the summer, after "The Hunger Games" film boosted sales of the best-selling trilogy in both digital and print versions. However, Scholastic now expects full-year 2013 earnings of $1.40 to $1.60 per share - a significant reduction from the $2.40 it originally anticipated. Click here to read the full article
Shares of ConAgra Foods, Inc. (CAG: Charts, News) closed up +1.34 or +4.74 percent to $29.63 per share on Tuesday after the company announced it had agreed to acquire Ralcorp Holdings, Inc. (RAH: Charts, News) for $6.8 billion including debt. Ralcorp Holdings stock closed up +18.57 or +26.44 percent to $88.80 per share.The acquisition will create the largest private label packaged food business in North America, adding to ConAgra’s existing business worth $950 million annually with an estimated $4.5 billion in combined sales. Click here to read the full article
Published on Nov 30, 2012
By InvestorGuide Staff

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