Latest Stocks Breakdown: The Coca-Cola Co, Campbell Soup Company, and Pep Boys-Manny Moe and Jack

dfsdsnw

On Tuesday, Shares of The Coca-Cola Co (NYSE:KO), gain 0.93% to $43.36.

A Coca-Cola Co. executive overseeing health research is stepping down after the soda giant came under fire for funding researchers accused of downplaying the role of sugary drinks in obesity, according to WSJ

Atlanta-based Coke said Tuesday that Chief Science and Health Officer Rhona Applebaum, 61, had decided to retire. A spokeswoman added there are no immediate plans to fill the position.

The company confirmed the departure after the Associated Press earlier Tuesday published email exchanges between Ms. Applebaum and Global Energy Balance Network, a Coke-funded nonprofit that suggested Americans were overly fixated on calories and not paying enough attention to exercise. Coke’s financial and logistics support to the group was first detailed in a New York Times article in August. WSJ Report

It has become clear to us that there was not a sufficient level of transparency with regard to the company’s involvement,’’ said Coke Chief Executive Muhtar Kent in a statement.

The Coca-Cola Company is a beverage company. The Company owns or licenses and markets more than 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, improved waters, juices, and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.

Shares of Campbell Soup Company (NYSE:CPB), inclined 3.09% to $51.33, during its last trading session.

Campbell Soup Company (CPB) stated its first-quarter results for fiscal 2016.

First-Quarter Results

Sales reduced 2 percent to $2.203 billion primarily due to the adverse impact of currency translation. Organic sales were comparable to the preceding year as higher selling prices and a reduction in promotional spending were offset by volume declines.

Gross margin reduced from 35.3 percent to 34.3 percent. Not Taking Into Account items impacting comparability in the current year, adjusted gross margin improved 2.6 percentage points. The improvement in adjusted gross margin was driven by productivity improvements, higher selling prices, improved supply chain performance and lower promotional spending, partly offset by cost inflation.

Marketing and selling expenses reduced 7 percent to $226 million. Not Taking Into Account items impacting comparability in the current year, adjusted marketing and selling expenses reduced 15 percent to $206 million primarily due to lower advertising, reflecting a shift in spending to later in the fiscal year, in addition to benefits from cost savings initiatives and the impact of currency translation. Administrative expenses raised 19 percent to $156 million. Not Taking Into Account items impacting comparability in the current year, adjusted administrative expenses reduced 8 percent to $120 million primarily due to benefits from cost savings initiatives and the impact of currency translation.

EBIT reduced 19 percent to $315 million. The first-quarter results were negatively influenced by the mark-to-market losses and charges incurred related to cost savings initiatives. Not Taking Into Account items impacting comparability in the current year, adjusted EBIT raised 23 percent to $479 million reflecting a higher adjusted gross margin percentage, lower adjusted marketing and selling expenses, and lower adjusted administrative expenses, partly offset by the adverse impact of currency translation.

Net interest expense raised $3 million to $28 million reflecting higher average interest rates on the debt portfolio. The tax rate raised 0.5 percentage points to 32.4 percent. Not Taking Into Account items impacting comparability in the current year, the adjusted tax rate raised 2.2 percentage points to 34.1 percent primarily due to the geographic mix of earnings and higher U.S. state taxes in 2016.

Campbell Soup Company manufactures and markets food products. The Company’s segments comprise U.S. Simple Meals; Global Baking and Snacking; International Simple Meals and Beverages; U.S. Beverages, and Bolthouse and Foodservice. Its U.S. Simple Meals segment comprises various products, such as Campbell’s condensed and ready-to-serve soups; Prego pasta sauces, and Pace Mexican sauces.

Finally, Pep Boys-Manny Moe and Jack (NYSE:PBY), ended its last trade with 2.05% gain and closed at $15.41.

Bridgestone Americas, Inc. (Bridgestone) declared that the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976 (the HSR Act), as amended, has been terminated with respect to the cash tender offer by its wholly-owned partner, TAJ Acquisition Co., to purchase all of the outstanding shares of The Pep Boys – Manny, Moe & Jack (Pep Boys; NYSE: PBY). Accordingly, the tender offer condition with respect to the expiration or termination of the applicable waiting period under the HSR Act has been satisfied.

Bridgestone formerly declared on Monday, November 16, 2015, that TAJ Acquisition Co., a partner of Bridgestone Retail Operations, LLC, had commenced a cash tender offer to purchase all outstanding shares of Pep Boys for $15.00 for each share, without interest and less any applicable tax withholding.

The tender offer will expire at 5:00 p.m. (New York City time) on Monday, January 4, 2016, unless the offer period is extended in accordance with the definitive merger agreement and the applicable rules and regulations of the SEC. The completion of the tender offer will be conditioned on Pep Boys shareholders tendering at least a majority of Pep Boys outstanding shares, determined on a fully diluted basis, and other customary closing conditions.

Bridgestone Retail Operations, LLC (BSRO) is headquartered in Bloomingdale, Ill., and owns and operates more than 2,200 tire and automotive service centers across the United States — counting Firestone Complete Auto Care, Tires Plus, Hibdon Tires Plus, and Wheel Works store locations. Credit First National Association and Firestone Complete Fleet Care operations are also part of BSRO. BSRO is a member of the Bridgestone Americas family of companies.

Pep Boys-Manny, Moe & Jack is a service and automotive aftermarket company. The Company’s stores are organized into a hub and spoke network, counting supercenters and service and tire centers. Supercenters average about 20,000 square feet and combine do-it-for-me (DIFM) service labor, installed merchandise, and tire offerings with do-it-yourself (DIY) parts and accessories.

DISCLAIMER:

This article is published by www.stocksnewswire.com. The content included in this article is just for informational purposes only. Stocksnewswire.com takes sensible consideration to ensure that the data given in this article is up to date and accurate. The news, prices, opinions, research, analysis, and other information published in this article are obtained from sources believed to be reliable.

Neither Stocksnewswire.com nor any of Stocksnewswire.com partners make any representation or guarantee as to the fulfillment or precision of the information contained in this article.

Investors must consult their own additional due diligence with any potential investment or highlighted company before making any decision on behalf of information offered by Stocksnewswire.com.

Information contained in this article may contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long-term; pricing pressures; etc.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward-looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.

You may also like

Remarkable Stocks News Analysis: Wells Fargo …Remarkable Stocks News Review: AT&T;, (NYSE:T)…Most Active Stocks Now: UnitedHealth Group Incorpo…Hottest Stocks Now: SeaDrill Limited, (NYSE:SDRL),…Three Active stocks among hottest: ArcelorMittal, …Sizzling Stocks Update: Chesapeake Energy Corporat…Hot Stock to Observe: Aeterna Zentaris, (NASDAQ:AE…Active Stock to Observe: American Capital, (NASDAQ…Trending Stock to Observe: Ambev, (NYSE:ABEV), Joh…

About Travis Garlick 1803 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.