Apple (NASDAQ:AAPL) soaring in today’s trading session, up over 10% to $617. This comes after the tech company’s earnings release after the close yesterday where they reported second quarter EPS of $12.30, well above estimates of $10.02.Revenues in the quarter came in at $39.19 billion also beating estimates of $36.87 billion.The company also reported Q2 iPhone sales, selling a whopping 35.1 million units in the quarter. This was well above estimates for 31.2 million units.However, Apple expectations for the third quarter are well below consensus estimates. The company reported EPS expectations of $8.68 verses estimates of $9.96. The company also sees Q3 revenues of $34 billion also below estimates of $37.5 billion.
Eli Lilly (NYSE:LLY) reported Q1 EPS of $0.92, topping estimates of $0.79.Revenues in the quarter came in at $5.6 billion, vs. estimates of $5.39 billion.The company still sees annual revenues of $21.8 billion – $22.8 billion, vs. estimates of $22.4 billion.However, Lilly now sees 2012 EPS of $3.15-$3.30, vs. its prior guidance of $3.10-$3.20 as of Jan. 31, and estimates of $3.18.
Burger King (NYSE:BKC) made a announcement today saying that all of its eggs and pork will come from cage-free chickens and pigs by 2017.This could cause a huge shift in the humanely raised food animals market because of the sheer volume Burger King uses of eggs and pork each year. Currently, the burger chain is already on its way, having 9% of its eggs and 20% of its pork cage-free. This is part of a string of announcements and changes Burger King has made over this past year. To compete with McDonald’s and Wendy’s, the burger chain has revamped its menu and its redesigning many of its stores.
Coca-Cola (NYSE:KO) is making in unexpected move this morning. The world’s largest beverage maker announced a 2-for-1 stock split for the first time in 16 years.The split is in line with its plan to double revenue over the next decade. If approved, the split would increase the number of Coke shares to 11.2 billion from 5.6 billion. The move is subject to approval by shareholders on July 10. Currently, the company is trading higher on the news, up almost three quarters of one percent to $74.65.
Financial News Network’s Chuck Pierce speaks with Thomas Gorman, Partner at Dorsey Whitney about Wal-Mart alleged cover-up of the bribery allegations at its Mexican subsidiary, Wal-Mart de Mexico.
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
Delta Air Lines reported good earnings yesterday. Revenue rose 8.6% to $8.4B in the first quarter, beating the estimates. And if we take a closer look, revenue on each seat flown over each mile basis increased 15%. The demand for air tickets will go up further as we head into the summer travel season and Delta is continuing with the ticket price hike. From the company’s perspective, they need the extra income to offset the rising fuel cost in the first quarter, which increased 3% from one year earlier to $2.23B and surpassed labor cost as the single largest expense.Delta executives expressed the view that consumer demand will be very strong in the coming months and the market agrees. So unless the fuel cost rises significantly, Delta’s margin will improve this quarter.Is traveling part of your summer plan? And if so, are you going international or domestic? I would like to hear your thoughts on the ticket prices and maybe some savings tricks as well. Send in your comments to our show or tweet me @juliasun_onair. I’m Julia Sun for the Financial News Network in New York City, we’ll be right back.
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys.
PepsiCo (PEP) announced today that net income in the first quarter was flat versus a year ago, as the company was able to raise prices to make up for rising ingredient costs. The company earned $1.13 billion, or 71 cents per share,versus $1.14 billion, or 71 cents per share, in the same period last year.
This is what’s in the news for Tuesday, April 24, 2012.Walmart, the largest private employer in Mexico, continues to be investigated for bribing Mexican officials to allow their rapid expansion into the country. A new Projection of the future of Social Security predicts funds will run out in 2033, 3 years earlier than previous predictions– due to an increase in retirement and a bad economy. The associated press reports that Fitch Ratings Company has raised Ford’s rating from junk to investment, a green light that the auto company is almost back from their near financial crash. And, finally, in an almost 200 page amendment to the deal by which Facebook Acquires Instagram, it was stated that almost 23 million shares of common stock in Facebook and $300 million dollars will be exchanged as payment.