Thursday headlines include: lowered guidance from Walmart,
more layoffs from Cisco, bidders emerging for General Electric's
appliance unit, earnings from Kohls and price increases coming to
Retailer Walmart (
) said Thursday that it
$1.26 per share in the second quarter on revenue of $120.13
billion. Earnings from continuing operations were $1.21 per
share. Analysts had expected the company to earn $1.21 per share
on $119.0 billion in revenue. The company also lowered its
full-year earnings forecast to 44.90 to $5.25 per share from a
prior forecast for $5.10 to $5.45 per share.
Cisco systems (
) said Wednesday that it earned 55 cents per share on an adjusted
basis in its fourth fiscal quarter. Revenue was $12.4 billion.
Analysts had expected the company to earn 53 cents per share on
$12.1 billion in revenue. The company also said it plans to cut
6,000 jobs in addition to previously announced layoffs.
A pair of bidders have emerged for General Electric's (
) appliance business, Bloomberg is reporting. The iconic business
could fetch up to $2 billion according to Bloomberg's sources.
The bidders include Electrolux AB, a Swedish appliance maker, and
Quirky, a startup that would partner with private equity to
the appliance unit.
) said Thursday that it earned $1.13 per share. That compares to
analyst estimates for $1.07 per share. Revenue was $4.24 billion,
which was just short of estimates for $4.28 billion. Same-store
sales fell by 1.3 percent in the quarter, compared to estimates
for a 0.6 percent decline.
Keurig Green Mountain
Single-serving coffee-cup maker Keurig Green Mountain (gmcr)
plans to raise prices by about 9% in November due to rising costs
for coffee. The company said costs for packaging, energy and
transportation have also risen. The new prices will go into
effect on Nov. 3.
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