P&G, Telus Rise; Green Mountain Coffee Falls

Sarla Buch
03 Aug, 2012
New York City

Green Mountain Coffee third quarter soared 30% and Procter & Gamble fourth quarter net surged 45% and updated its outlook. Viacom second quarter net slipped 7% and Yelp said second quarter net loss widened but revenues rose more than expected.

[R]11:45 AM New York – Green Mountain Coffee third quarter soared 30% and Procter & Gamble fourth quarter net surged 45% and updated its outlook. Viacom second quarter net slipped 7% and Yelp said second quarter net loss widened but revenues rose more than expected.[/R]

Green Mountain Coffee Roasters, Inc. ((GMCR)) slumped 4.2% or 96 cents to $21.70 and extended loss of 25% a day after the coffee maker reported net sales in the third quarter ending on June 23 surged 21% to $869.2 million compared to $717.2 million in the same period of last year. Net income in the quarter soared 30% to $73.3 million or 46 cents per diluted share compared to of $56.3 million or 37 cents per share a year ago period.

The Procter & Gamble Company ((PG)) gained 3.5% or $2.24 to $65.75 after the packaged goods company reported net sales in the fourth quarter ending in June fell 1% to $20.2 billion compared to $20.4 billion in the same period of last year. Net income in the quarter surged 45% to $3.63 billion or $1.24 per diluted share compared to of $2.51 billion or 84 cents per share a year ago period.

The company expects net sales for fiscal 2013 are expected to fall 2% from the prior year and earnings per share are expected to be in the range of $3.61 to $3.85. For the fiscal first quarter net sales growth is estimated to fall 4% to 6% and earnings per share in the range of 83 cents to 91 cents.

Telus Corporation ((TU)) increased 2.2% or $1.35 to $61.93 after the Canada based telecom operator reported revenues in the second quarter ending in June dropped 4.3% to C$2.67 billion compared to C$2.55 billion in the same period of last year. Net income in the quarter rose 1.2% to $328 million or $1.01 per diluted share compared to $324 million or 99 cents per share a year ago.

Viacom Inc. ((VIA)) rose 4 cents to $47.81 after the entertainment company reported revenues in the second quarter ending in June plunged 14% to $3.24 billion compared to $3.76 billion in the same period of last year. Net earnings in the quarter decreased 7% to $534 million or $1.01 per diluted share compared to $575 million or 97 cents per share a year ago.

Yelp Inc. ((YELP)) rose 50 cents to $22.50 after the online review company reported revenues in the second quarter ending in June surged 66.8% to $32.7 million compared to $19.6 million in the same period of last year. Net loss in the quarter widened to $1.98 million or 3 cents per diluted share compared to $1.21 million or 8 cents per share a year ago.