Shares of Kellogg got a lift after reporting sales and earnings that beat the street. The company reported a profit of $296 million, or $0.82 per share, compared with $290 million or $0.80 per share a year earlier. Sales in the quarter increased by 12% to $3.72 billion. Analysts were expecting $0.80 per share on revenue of $3.69 billion. North American sales grew 11%, led by strong performance in both the cereal and toaster pastry businesses during the quarter. Internationally, sales increased 15% with the Latin America and Asia Pacific regions leading the charge. Going forward, CEO John Bryant said that the company has turned a corner to address recent supply chain issues and has hired back? employees to supervise manufacturing while replacing worn equipment. Management reiterated its earnings view for the full year, but also said that it expects full-year profit to fall by 4%-6% due to the effect of last month?s Mini-Wheat?s recall.
? Pfizer (NYSE:PFE): Top line miss.
Pfizer?s third-quarter revenue disappointed the market on weak sales of its Prevnar pediatric vaccine and poor performance in its emerging markets. Excluding one time items, Pfizer earned $0.53 per share, in line with expectations, while revenue of $13.98 billion fell short of the average analyst estimate, which was $14.64 billion. Revenue from emerging markets fell 2% to $2.39 billion after increasing by 8% in the prior quarter. Prevnar 8 sales were down 14% to $868 million while sales of the older Prevnar 7 fell 17% to $81 million. Prevnar, which is used to prevent infections that can cause pneumonia, is Pfizer?s biggest selling product. Looking ahead, management narrowed its full-year earnings guidance, now expecting a range of $2.14 to $2.17 per share, while it had previously forecast $2.12 to $2.22 per share. The company also announced that it is authorizing another $10 billion in share repurchases, adding to the $5.9 billion it had repurchased earlier this year.
Exxon Mobil (NYSE:XOM): XOXO!
Exxon Mobil, the world?s largest energy company, reported Q3 net income that topped analyst estimates as its refining operations helped offset the impact of lower output and oil prices. Third-quarter profit was $9.57 billion, or $2.09 per share, down 7.1% from $10.3 billion, or $2.13, a year earlier. The per-share result topped the high estimate of $2.07 and was $.13 more than the $1.96 average analyst estimate.? Exxon?s profit from refining oil at US plants soared 78% to $1.4 billion, even as the benchmark margin based on New York futures contracts dropped 5.2%. Oil and natural gas production from Exxon?s wells fell to the lowest in three years as output slipped everywhere the company operates except for Africa and Australia, slashing so-called upstream profit by 29% to $5.97 billion. Exxon?s production of oil and gas liquids such as butane declined by 5.9% to 2.1 million barrels per day, led by falling output from European wells, according to a company statement. More than 80% of Exxon?s oil and gas-liquids production comes from outside the US.
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Irish Daily Star seth macfarlane Black Mesa NFL.com matt ryan matt ryan att wireless
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