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Market Update

PepsiCo Reports Softness in Beverages, Snack Units; JetBlue Traffic Eases


Author: Mukesh Buch
ticker.com
Last Update: 12:06 PM EST February 13 2018

12:05 PM New York City, New York Dana net swung to a loss. JetBlue revenue passengers and load factor declined. PepsiCo net swung to a loss on flat sales. Rapid7 net loss widened. AmerisourceBergen surged after report that Walgreens broached the merger proposal.

Tollbooth Index rose 10.53 to 13,897.42.

Earnings Review

Dana Inc (DAN) declined 4.1% or $1.24 to $28.99 after the driveline technology provider said revenues in the fourth-quarter ending in December surged 27% from a year ago to $1.8 billion.

Net in the quarter swung to a loss of $104 million or 74 cents per diluted share from profit of $485 million or $3.34 in the same quarter last year.

Dana reaffirmed fiscal 2018 demand and the new-business growth forecast of about 6% and sales in the range of $7.5 billion to $7.7 billion and diluted earnings per share in the range of $2.60 to $2.90.

JetBlue Airways Corporation (JBLU) slid 5 cents to $19.83 after the airline services provider said the number of revenue passengers in January declined 4% to 3.16 million while traffic decreased 1.7% to 3.80 billion revenue passenger miles but capacity increased 0.1% and load factor dropped 1.4 percentage point to 81.9% from January 2017.

PepsiCo, Inc (PEP) rose 28 cents to $112.19 after the food and beverage maker reported net revenues in the fourth-quarter ending in December were flat from a year ago to $19.5 billion.

Net in the quarter swung to a loss of $710 million or 50 cents per diluted share from profit of $1.4 billion or 97 cents in the same quarter last year.

PepsiCo said flat sales were driven by weak performance in beverages unit and revenue drop in Frito-Lay snack business.

PepsiCo forecasted fiscal 2018 earnings per share to jump 9% to $5.70 from $5.23 in the same period a year ago.

Rapid7 Inc (RPD) gained 6 cents to $23.21 after the security and information technology provider said total revenues in the fourth-quarter ending in December jumped 28% from a year ago to $57.7 million.

Net loss in the quarter widened to $13 million or 30 cents per diluted share from $9.8 million or 23 cents in the same quarter last year.

Varonis Systems Inc (VRNS) increased 1% or 55 cents to $54.45 after the enterprise software provider stated revenues in the fourth-quarter ending in December surged 35% from a year ago to $73.2 million.

Net income in the quarter jumped 57.1% to $5.5 million or 18 cents per diluted share from $3.5 million or 12 cents in the same quarter last year.

Walgreens Boots Alliance Inc (WAG) rose 1 cent to $68.47 on report that the drugstore operator had approached AmerisourceBergen Corp. for a takeover.

AmerisourceBergen Corp stock surged 8.8% to $97.31.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc