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

Mukesh Buch
13 Feb, 2018
New York City

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.

[R]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.[/R]

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.