Major companies report earnings: Virgin America, Nestle, Walmart
Virgin America [VA] - leapt over 8% on Wednesday’s trading on better than expected fourth quarter earnings with $1.16 per share and $372.2 million revenue. The low cost airline released its IPO in November 2014 at $30.03; currently share price stands at $35.54.
NESTLE - Swiss food manufacturer Nestlé, the largest in the world by sales, provided an increase in dividend, up from SFr2.15 a year ago to SFr2.20 per share, despite the movement experienced in the CHF within the quarter. Income and growth were in line with predictions, growing 4.5% as opposed the normal 5% Nestlé achieves.
Revenue/sales figure was forecast to slip to SFr91.43 billion from 92.16 billion francs a year ago. In fact, the decrease was not so steep at only a 0.6% drop in sales to SFr91.6 billion.
Shares are up 8% across the year, with today’s report giving a small rise from 70.77 opening price to morning highs of 71.50.
Earnings reports today, Thursday
Walmart forecast: Earnings of $1.53 a share (Thomson Reuters), compared with earnings of $1.60 a year ago. Revenue of $132.4 billion is forecast, compared with $129.7 billion last year. After hours shares have risen by 0.76% near the 87 mark; in January 2014, shares stood at 78.61. Earnings are due at 12.00pm GMT.
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