T. Rowe Price, Coca-Cola & Colgate
Three companies announced they’re returning more cash to shareholders. Coca Cola, T. Rowe Price and Colgate will hike their quarterly payouts. Coke’s raised its payout eight percent to 33 cents a share. T. Rowe Price is upping its dividend to 52 cents a share, plus it declared a special dividend of $2. Colgate’s is now 38 cents a share and it will buyback up to $5 billion in stock. T. Rowe Price rose 1.5 percent. Coke was up almost one percent. Colgate shares fell a fraction.
Priceline’s results beat on both the top and bottom lines, bolstered by growth in hotel and car rental reservations. The travel booking site also said it would buyback an additional $3 billion in shares. It did warn investors about the impact of a stronger dollar. Still, shares popped about 8.5 percent to $1,218.05.
All of those aggressive discounts helped T-Mobile deliver strong results for investors. The wireless carrier saw revenue rise as it managed to add more than two million subscribers. The company’s chief explained how he wants to continue to invest in new subscribers. Shares were up almost three percent to $31.85.
It was a mixed first quarter for Hormel. But the seller of Spam, Skippy and corned beef hash raised its earnings outlook for the year after lower meat prices and continued demand for turkey products drove margins higher. Shares rose more than two percent to $57.65.
Sysco & US Foods
The government is suing to block the merger between Sysco and US Foods, the nation’s two largest food distributors. Regulators believe the proposed $3.5 billion merger would hurt competition in food distribution and raise prices. Shares of Sysco were off three percent to $38.56.