A stronger dollar weighed on PepsiCo’s fourth quarter, but its earnings still beat. The soft-drink maker’s Frito Lay snack business came to the rescue, since higher sales in that division helped to offset pressure from currency headwinds. The beverage giant also said it would buy back $12 billion worth of shares and it hiked its dividend by seven percent to $2.81 a share. The CFO says the company’s diversified product offerings bolstered the results. Shares rose about 2.5 percent to $100.40.
Time Warner’s earnings beat estimates, but revenue missed. That was mostly due to declines at its Warner Brothers movie studio. The company also upped its dividend ten percent to 35 cents a share. Shares were up a fraction to $81.01.
Time Warner’s former unit AOL was also out with revenue that trailed consensus. Growth in its advertising revenue did help the company post better-than-expected earnings. But subscription revenue fell, as higher pricing didn’t offset a drop in subscribers. Shares tumbled ten percent to close at $40.22.
Shares of Rite Aid rose on news of an acquisition. The chain will buy pharmacy benefits manager Envision Pharmaceuticals for about $2 billion. The move comes at the company looks to better position itself in the changing health care environment. Shares were 6.5 percent higher to $8.08.
Generator maker Generac reported strong results and it said it sees 2015 sales increasing. This as the company saw an increase in sales in both its commercial and industrial divisions. Still, the stock was up about three percent to $48.94.
Pier 1 saw its shares plunge after it cut its full-year guidance, pointing to higher than expected expenses. Separately, the retailer announced the retirement of its chief financial officer. The stock fell 24 percent to $12.84.
Whole Foods’ earnings were better than expected, while sales were in line. The company was able to attract more customers to its stores during the quarter. That sent shares much higher initially after the close. Before the bell, shares were up a fraction to $53.51.
Shares of Tesla plunged right after the close when it reported sales and a quarterly loss that missed estimates. The electric car maker also did not deliver as many cars as it expected to, which it blamed on a variety of factors, like weather issues and shipping problems. Shares dropped in initial after-hours trading. Before the close, the stock was off more than one percent to $212.80.