PepsiCo to Acquire Israeli Company, Tyson Foods Buys Keystone

Mukesh Buch
20 Aug, 2018
New York City

ConocoPhillips signed an agreement to recover $2 billion from Venezuela controlled oil company. Estee Lauder revenues soared but profit declined 19%. PepsiCo agreed to buy SodaStream. Tyson Foods agreed to acquire Brazil-based Keystone.

[R]12:30 PM New York City, New York – ConocoPhillips signed an agreement to recover $2 billion from Venezuela controlled oil company. Estee Lauder revenues soared but profit declined 19%. PepsiCo agreed to buy SodaStream. Tyson Foods agreed to acquire Brazil-based Keystone.[/R]

Tollbooth Index jumped 118.10 or 0.7% to 16,117.53 but for the year-to-date soared 17.1%.

Earnings Review

AngloGold Ashanti Limited fell 2 cents to $7.23 after the South Africa-focused gold miner reported revenues in the first-half ending in June declined 4.8% from a year ago to $2 billion.

Net in the quarter swung to profit $43 million or 8 cents per diluted share from a loss of $165 million or 43 cents in the same quarter last year.

Total production declined 1.6 million ounces at a total cash cost of $823 per ounce from 1.75 million ounces at a total cash cost of $796 per ounce.

ConocoPhillips gained 1.6% or $1.12 to $70.89 after the oil and gas producer signed an agreement to recover approx $2 billion from Venezuela-based state-owned Petroleos de Venezuela, S.A. under the arbitration awarded by the International Chamber of Commerce.

The PDVSA agreed to recognize the ICC judgment and make initial payments totaling approximately $500 million

The Estee Lauder Companies Inc ((EL)) jumped 3.6% or $4.84 to $140.78 after the skin and hair care products maker reported revenues in the fourth-quarter ending in June soared 14% from a year ago to $3.3 billion.

Net income in the quarter declined 18.8% to $186 million or 49 cents per diluted share from $229 million or 61 cents in the same quarter last year.

The skin and hair care products maker forecasted fiscal 2018 diluted earnings per share in the range of $4.62 to $4.71.

Huami Corp ((HMI)) soared 7.3% or 76 cents to $11.12 after China-based smart wearable devices maker said revenues in the second-quarter ending in June surged 54.8% from a year ago to $114.9 million and net income jumped to $12.2 million and diluted earnings per share increased 5 cents.

PepsiCo Inc ((PEP)) edged up 0.4 cents to $115 after the food and beverages maker today agreed to acquire Israel-based SodaStream International Ltd for $144 per share in cash or in a transaction valued at $3.2 billion.

The transaction is expected to close by January 2019.

Tyson Foods, Inc ((TSN)) increased 35 cents to $62.75 after the chicken meat processor and marketer agreed to acquire the Brazil-based Keystone Foods Holdings Limited.

The deal includes six processing plants and an innovation center in the U.S. from the meatpacker Marfrig Global Foods for $2.16 billion in cash.

Tyson is expecting the deal to close in mid-fiscal 2019.