On Monday, PepsiCo announced its second fiscal quarter which ended on June 30. The results exceeded Wall Street expectations but were mixed. On the one hand, sales of food and snacks increased as consumers bought snacks for breakfast and home-made goods. On the other hand, sales of beverages decreased because large sales channels such as cafes, cinemas and gas stations suffered huge losses for most of the quarter.
In the second quarter, PepsiCo’s earnings per share fell 14% (compared to last year) to $1.32, but this is $ 0.07 higher than the analytical estimate of $1.25. Net income fell 20% to $1.65 billion driven by higher costs, including more than $400 million coronavirus pandemic costs.
PepsiCo’s 2nd quarter total revenue fell 3% to $15.95 billion but was also above the average analytical estimate of $15.34 billion.
Revenues from North America’s largest beverage division fell 7% as restaurants and other outlets remained closed and sporting events were postponed.
Among the snack segment, strong growth was shown not only by well-known brands of the company but also by new lines of healthy snacks such as the line of fruit chips Bare and Off The Eaten Path, as well as chips from black beans and chickpeas.
PepsiCo also noted that it’s finishing its merger with the energy drink maker Rockstar. The company plans to expand Rockstar distribution nationwide.
Due to the complexity of planning in an unstable environment during the pandemic, PepsiCo did not provide forecasts for the year but noted that trends and dynamics of many sales channels improved in May and June in both developed and emerging markets.
The company said it is going to pay $5.5 billion in dividends this year and buy back $2 billion in shares.
By the end of this year, the German airline Lufthansa intends to reduce its foreign staff by 20 thousand people, as well as sell its LSG division, which deals with on-board catering, which employs 7.5 thousand people. Lufthansa subsidiaries Eurowings, Swiss, Austrian and Brussels Airlines are reducing the frequency of flights, fleets and staff amid […]
Shares of General Motors, down by 3.7% since the beginning of the year, rose by 3.9% in trading after the company announced the results of the 3rd quarter, which ended on September 30. General Motors reported earnings per share increase of 65% to $ 2.83, which was higher than analysts expected $ 1.38. The amount […]
Shares of Peloton, which rose nearly 346% since the beginning of the year, rose 2% during trading on Friday after the company published the results of the first quarter of fiscal 2021, which ended September 30. Peloton, which went public a little over a year ago, reported earnings per share for the second quarter in […]
Shares of Starbucks recovered from losses of February and March due to the pandemic and rose by 19.7% over the past 6 months. But shares fell again after the publication of the quarterly report, which ended September 30. Starbucks revenue and profit for the 4th quarter of fiscal 2020 showed a strong jump in growth […]
American chipmaker Advanced Micro Devices Inc (AMD) is buying rival Xilinx Inc for $ 35 billion under a deal that it will be paid for in full by AMD shares. According to a press release from AMD, the operation will create a company worth about $ 135 billion. “The acquisition of Xilinx will allow AMD […]
In the last week of October, investors expect a lot of news, as more than one-third of the components of the S&P 500 index, or 186 companies, must report financial results for the third quarter. The information field is even richer given the election race in the United States, the situation with the pandemic and […]
According to Bloomberg, a source familiar with the situation, German manufacturer of sportswear and accessories Adidas AG is considering the possibility of selling its brand Reebok. “In the coming months, the company will decide whether to start the sale process,” the source said. According to the interlocutor of the agency, the internal assessment of sales […]
In September 2020, the Italian company Lamborghini sold 738 cars worldwide. This is a new record for the company, according to its website. At the same time, in the third quarter of 2020, 2,083 Lamborghini cars were sold worldwide. In the spring of this year Lamborghini was forced to close all its plants for two […]
LDaily prepared the short overview of latest news in the sphere of business and finance for last week for the readers. If you missed something, it would a good opportunity to correct it. 1. Yaroslav Gregirchak: «Ukraine has to look as a competitive option for investment in the “supermarket” of national jurisdiction» A shoppy talk […]
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The foreign investor will enter the capital of the combined bank. The owner and the Chairman of the Board of the Fidobank, and the shareholder of the Eurobank (both – Kiev), Alexander Adarich plans to consolidate its banking assets by combining the two banks, as well as attract foreign investors. “Based on the National Bank of […]
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The TMT Investments Company has sold a 7.1% stake in the Depositphotos company to the private European investor, whose name was not disclosed. The deal amounted to $ 5.85 million. Thus, the overall assessment of the Ukrainian company, according to the terms of this transaction, is approximately $ 82 million. TMT will use the proceeds […]
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In France, the antitrust regulator has fined Google € 500 million, according to the regulator’s press service. “The regulator has fined the company for non-compliance with several court rulings issued in April 2020,” the statement said. Agence France-Presse writes that the fine was imposed for “the corporation did not properly negotiate with the publishers of […]
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World oil prices of reference brands at the auction on Wednesday, May 19, fell after the publication of data on stocks in the United States. In particular, the price of July futures for Brent oil on the London Stock Exchange ICE Futures fell by 4.89% – to $ 65.35 per barrel, but later returned to […]
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Participating FIS client banks will be able to send and receive large-ticket international corporate payments quickly and securely KYIV – May 15, 2019 – Visa Inc. (NYSE:V) and FIS are joining forces to enable FIS’ commercial financial institution clients to quickly and securely access the Visa B2B Connect platform globally*. Visa B2B Connect will be […]
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Office of the Attorney General suspects the former owner of Delta Bank, Mykola Lahun, of tax evasion in the amount of 33 million hryvnias. According to the investigation, in February 2015, the former owner of Delta Bank JSC received more than 153 million hryvnias as payment for the purchase of registered shares of the bank […]
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Shares of Pfizer decreased by 3.2% since the beginning of the year, fell by 1.65% on Tuesday after the company announced the results of the third quarter, which ended on September 30. Pfizer reported a 4% drop in earnings per share (compared to the same quarter in 2019) to $ 0.72, but this was slightly […]
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Shares of Johnson & Johnson, which rose till 1.44% over the past week, on Tuesday closed with a decrease of 2.3%, despite on the publication of a better-than-expected Wall Street experts, a report for 3 fin. quarter. Investors are concerned about the potential consequences of ending the large-scale study of the J&J vaccine against COVID-19, […]
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The court satisfied the third claim of Oschadbank against the Creative company. It is reported by the press service of the Bank. According to the report, on April 28, the Commercial Court of Kirovograd region satisfied the third claim of Oschadbank against the Creative company and the Creative Agro company for solidarity overdue debt collection […]
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The largest producer of oil Kernel increased its sales of sunflower oil for 7%, grain – felled by 6% in the II quarter of the 2016 fiscal year. Kernel, one of the largest Ukrainian agricultural groups, in the second quarter of fiscal year 2016, which began in July 2015, reduced its grain sales by 6% […]
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Many analysts have been predicting for about a year that Apple will merge and sell its services in packages, and today the news agency Bloomberg, citing anonymous sources, said it would happen in October, at the same time as the release of the new iPhone 12. Apple shares have responded to rumors of growth, although […]
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The President’s Office stated that the decision of the Kyiv District Administrative Court (KDAC) to dismiss NABU Director Artem Sytnyk could not be considered final, as it would be appealed. This was announced on Tuesday, October 27 by the press service of the President’s Office. The President also noted that any differences over anti-corruption bodies […]
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Shares of Amazon, which rose by 73.8% since the beginning of the year (more than the growth of Apple, Microsoft, Google and Facebook), fell 2% after closing trading on Thursday, when the company released a report for the 3rd quarter, which ended September 30. Amazon set a new revenue record, e-commerce increased sales by 57% […]
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According to Interfax-Ukraine, Fozzy Commercial and Industrial Group (CIG) in connection with Trash new retail chain storey creation, has registered LLC Silpo-Food at the beginning of August. According to information in the Single state register of legal entities and individual entrepreneurs, PJSC became the founder of PJSC Closed Undiversified Venture Corporate Investment Fund Retail Capital. […]
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Last working week, the National Bank, as in the previous five weeks, did not buy or sell currency on the interbank market. This is evidenced by NBU data. In total, since the beginning of the year, the regulator has bought $ 290.5 million on the interbank market and sold $ 70 million. In 2020, the […]
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