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$GIS, known for brands like Cheerios cereal and Yoplait yogurt, posted a 53% YoverY profit growth in 2Q16, but net sales fell 6%. Net earnings attributable to $GIS rose $530MM, or $0.87, from $346.1MM, or $0.56, a year earlier. Net sales fell to $4.42Bil from $4.71Bil, hurt by a strong dollar that reduced net sales growth by 4 percentage points.
Visa ($V) set to release it earning after market close today. With new CEO resigning so close to the earnings, should we expect to see any surprises? Visa has been making strong moves with Visa Europe acquisition, partnership with PayPal and a 15% increase if quarterly dividends.
Kimberly Clark Corp ($KMB) has been in decline for most of the year, the stock has also not been getting any analyst love. Will today’s earnings break the trend? Revenue has been up and down in the last four quarters, let us see what this quarter brings.
$KMB down close to 4% after it misses on earnings and revenue. Forecasts are lower for the year.