WellPoint says more people signed up for its insurance, helping it post strong earnings. The company reported higher than expected profit as its medical costs stayed low. WellPoint also hiked its earnings outlook for the year. Shares rose $2.20 to $122.20.
Shares of Hershey melted after it reported an earnings miss. The candy maker also gave a trifecta of reasons for poor sales guidance for the year, including: higher milk prices, a strong dollar and weak overseas sales prospects. Shares fell 1.5 percent to $94.06.
Ralph Lauren also disappointed with a dismal sales forecast. It lowered its guidance for the current quarter and the year, blaming unfavorable foreign currency issues. Its profit topped estimates, but its revenue came in short of estimates. Despite all that, shares rose a fraction, closing at $161.79.
After the bell Kraft announced that its profit fell as price hikes hurt sales. Those increased prices were designed to offset higher commodity costs, but sales of some of Kraft’s meat and cheese products suffered. Shares were down initially after hours trading. During the regular session the stock was off just slightly to $56.91.
IBM & Twitter
Old tech and new tech are teaming up. IBM announced a new partnership with Twitter to deliver data analytics, which will be available through Big Blue’s cloud service. The goal is to help shape business decisions using data collected from tweets. Shares of IBM were off slightly at $163.46. Twitter fell almost four percent to $42.08.