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$GIS reported that on March 16, 2016, it sold its General Mills de Venezuela CA subsidiary to a third party and exited its business in Venezuela. Company expects to incur a non-cash charge of about $35MM pretax in 4Q16 related to this sale. The transaction is not expected to have a material impact on $GIS' financial results.
Visa ($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.