What's Shaking: Thursday's Early Movers
Senior Producer, CNBC
Take a look at some of Thursday morning's early movers:
PepsiCo - The beverage giant earned $1.15 per share, excluding certain items, for its fourth quarter, two cents above estimates. Revenue also beat consensus, and the company also announced it's cutting 8,700 jobs, about 3% of the global workforce. CEO Indra Nooyi tells CNBC the company is doing well in a difficult environment, but characterizes the North American Beverage Business is still a "work in progress".
Cisco Systems - The maker of networking gear beat estimates on both the top and bottom lines for its latest quarter. Cisco earned 47 cents a share for its second quarter, four cents above estimates. It also reported improved profit margins. CEO John Chambers tells CNBC the company is back on the right track, and will resume its more traditional pace of acquisitions this year.
Groupon - The purveyor of daily deals reported an unexpected fourth quarter loss in its first earnings release since going public. Analysts are worried about signs that Groupon’s growth may be slowing.
Diamond Foods - The stock is taking a pounding after an internal investigation found the company had improperly accounted for payments to walnut growers. The company’s CEO and CFO have been placed on leave, and the news puts the company’s potential purchase of the Pringles brand from Procter & Gamble in serious doubt.
News Corp - The company reported quarterly profit of 39 cents a share, five cents above estimates, helped by strength in its cable tv and film studio businesses.
Visa - The credit card issuer earned $1.49 per share for its fiscal first quarter, four cents above consensus, as U.S. credit card use jumped by 10%.
Whole Foods - The grocery store operator earned 65 cents a share for its fiscal first quarter, five cents above estimates, with same-store sales rising a better than expected 8.7%. The company also raised its 2012 outlook.
Six Flags - The amusement park operator announced a ten-fold increase in its quarterly dividend to 60 cents a share from 6 cents.
Akamai Technologies - The company reported fourth quarter profit of 45 cents a share vs. estimates of 40 cents, helped by growing demand for online content.
Stryker - Chairman and CEO Stephen MacMillan has resigned for family reasons, effective immediately. He’ll be replaced on an interim basis by CFO Curt Hartman.
3M - The Dow component's stock has been downgraded to "hold" from "buy" at Deutsche Bank on a valuation basis.
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