Market Focus

Colgate-Palmolive 

Colgate-Palmolive reported a 16 percent drop in profits. The consumer products maker had to take a one time charge because of a fall in the value of Venezuela’s currency. Latin America is Colgate’s biggest market in terms of sales. Still, earnings and revenue matched Wall Street estimates. Colgate shares fell slightly to $66.24.

Burger King

Burger King served up a higher first-quarter profit, but revenues came in lower than analyst estimates. New restaurant openings overseas and cost-cutting efforts helped the chain to offset weak sales in the U.S. Shares rose more than two percent to $26.35.

Netflix

Netflix signed a deal with three cable companies to bring its service to set-top boxes. Its streaming video will, for the first time, be integrated into Tivo’s devices for customers of three small U.S. cable operators. You still have to subscribe to Netflix, but those customers won’t need a streaming device to watch Netflix. Shares tumbled six percent despite the deal, closing at $322.08.

Kellogg

Kellogg announced plans to hike its quarterly dividend by 6.5 percent later this year. Separately, it named its CEO, John Bryant as its new Chairman, replacing former CEO James Jenness. Jenness will remain on the board as a non-executive director. We’ll find out more about the food company next week when its expected to report earnings. Shares were up a fraction to $66.71.

VF Corporation

VF Corporation saw its first quarter earnings climb ten percent. The apparel maker saw double-digit growth in its outdoor unit. The parent of North Face and Nautica also upped its full-year earnings outlook. That sent shares up more than two percent to $61.44.

Whirlpool

Whirlpool’s first quarter sales were up, but earnings came in well below estimates. Currency and other headwinds in Latin America and Asia offset modest sales increases in North America and Europe. The home appliance maker also blamed its brutal winter weather in the U.S. for keeping customers out of showrooms and for disrupting shipments. Shares were up a fraction to $155.42.

This entry was posted in Market Focus. Bookmark the permalink.

Leave a Reply