Buffett’s Berkshire Hathaway lost $4B after Kraft Heinz earnings report

Warren Buffett’s taste for junk food is starting to give him major indigestion. The folksy billionaire who regularly grabs McDonald’s for breakfast saw his Berkshire Hathaway conglomerate lose more than $ 4 billion on Friday as its stake in Kraft Heinz got clobbered on a dismal earnings report. Shares of the snack-food giant — in which…
Business | New York Post

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Google’s parent Alphabet reports strong earnings

Google parent company Alphabet delivered a strong earnings report Monday, beating expectations on profits and revenue — but the company’s stock sank on skyrocketing spending on small-project development. The Mountain View, Calif., search giant reported earnings per share of $ 12.77, exceeding Wall Street’s forecast $ 10.82. Alphabet took in $ 39.3 billion in revenue, against analyst forecasts…
Technology News & Reviews | New York Post

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The worst-performing Dow stock this year is about to report earnings. Here’s what to expect

Ari Wald of Oppenheimer and Gina Sanchez of Chantico Global discuss Pfizer shares before the company's earnings are released with CNBC's Mike Santoli.
Health and Science

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Alexandria Ocasio-Cortez could probe banks’ earnings

Freshman Congresswoman Alexandria Ocasio-Cortez is now a member of the House Financial Services Committee, which oversees the nation’s banks and financial institutions. And California Congresswoman Maxine Waters is chairing that committee. And I think it’s going to be a hoot. Ocasio-Cortez has already proposed taxing very rich people at a 70 percent rate. And bankers…
Business | New York Post

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Sherwin-Williams Lowers FY18 Earnings Outlook – Quick Facts

Sherwin-Williams Company (SHW) on Tuesday announced preliminary unaudited sales and earnings results for the fourth quarter and full year ended December 31, 2018. The company lowered its earnings outlook for fiscal 2018, citing non-operating expenses and lower fourth-quarter sales.
RTT – Earnings

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Ford Motor Q4 Prel. Earnings Below Estimates – Quick Facts

Ford Motor Company (F) reported, for the fourth-quarter, preliminary adjusted EPS of $ 0.30 compared to $ 0.39, last year. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $ 0.32 for the quarter. Analysts’ estimates typically exclude special items.
RTT – Earnings

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Hospital behemoth HCA sees shares jump after strong earnings and forward guidance

The Nashville-based hospital behemoth raised its earnings and revenue guidance for the year. 
Health and Science

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Disappointing Earnings News Leads To Sell-Off On Wall Street – U.S. Commentary

Following yesterday’s attempted recovery from an early sell-off, stocks showed a substantial move back to the downside during trading on Wednesday. The Dow dropped to its lowest closing level in over three-months, while the Nasdaq and the S&P 500 tumbled to five-month closing lows.
RTT – Top Story

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Bank of America earnings’ jump, topping Wall Street estimates, as consumer credit improves

Chief Executive Officer Brian Moynihan, 59, has focused on cutting costs while looking for profit opportunities that fit his "responsible growth" mantra. 
Top News & Analysis

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GE Names Lawrence Culp, Jr. CEO; Company To Fall Short Of 2018 Earnings Guidance

GE (GE) announced that Lawrence Culp, Jr. has been named Chairman and Chief Executive Officer of the company, effective immediately. The GE Board has appointed Thomas Horton as Lead Director. Culp and Horton have been members of the Board since April 2018. Culp will succeed John Flannery as Chairman and CEO.
RTT – Earnings

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PepsiCo CEO Indra Nooyi Steps Down, With a Parting Gift for Investors: Better-Than-Expected Earnings

Indra Nooyi’s 12-year tenure as PepsiCo’s CEO came to and end Tuesday as the 24-year PepsiCo veteran hands the corporate reins over to her successor. Starting Wednesday, Ram?n Laguarta will oversee the Pepsi, Frito-Lay, Tropicana, Gatorade, and Quaker brands.

Nooyi’s final day on the job included a quarterly earnings report that beat analyst estimates–the 75th such earnings call she has participated in as the company’s CEO or CFO. Revenue rose 1.5% to $ 16.5 billion while earnings totaled $ 1.59 a share. Both figures beat analyst estimates, although some analysts nitpicked the results because they benefited from a lower tax rate rather than higher operating margins.

As a result, PepsiCo’s stock fell 1.9% to $ 108.72 a share during Nooyi’s last day. But the company’s stock has risen 109% since Nooyi was named CEO in August 2006, a notable performance in an industry known more for slow, steady improvements rather than tech-like hypergrowth. Coca-Cola’s stock, by comparison, has risen 67% since August 2006.

Under Nooyi’s leadership, PepsiCo’s revenue grew by 80% during a period when consumer tastes began to change and when food companies faced consolidation. Nooyi pushed PepsiCo early on to shift from junk food toward healthier snacks and beverages, anticipating a change that caught some companies off guard. She also advocated for stronger recycling policies as well as snacks that were tailored toward the tastes of female consumers.

Nooyi won numerous business accolades, included landing at or near the top of Fortune’s annual ranking of Most Powerful Women in business, where she appeared in 18 of the last 20 years. Last year, when Nooyi was ranked No. 2 on the list, she spoke about the formidable challenges she still faced as PepsiCo’s leader.

“The industry is seeing a pace of change and disruption that we’ve never seen… You’re going to have consolidation, disruption, and a shakeout in the industry. You’re going to see the emergence of new players,” Nooyi said. “You can look at it with pessimism, that, ‘Oh, my God, all of this is changing,’ or optimism, to say perhaps this is the time to rewrite some of the rules and rebalance the competitive equation in the industry. I’m in the latter camp, and I’m looking at the world and saying, ‘Interesting times.’”

Nooyi’s successor Laguarta is also a PepsiCo veteran, having worked at the company for 22 years. Laguarta will be the sixth CEO at PepsiCo, which has historically appointed new CEOs from within its ranks.

Nooyi will remain PepsiCo’s chairman until early next year. When she was named CEO of Pepsi, she was only of only 11 female CEOs of Fortune 500 companies. After she steps down, there will be 25. In an interview this summer with Fortune, Noori expressed regret that number remained low. “It concerns me in that we can actually count how many there are, as opposed to saying there are hundreds,” she said.

Fortune

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