Stocks to watch: Walt Disney, Dean Foods
The entertainment giant tops earnings expectations but misses on revenue, and the US dairy company announces a spinoff.
Dean Foods (DF), said Tuesday it plans to sell 20% of WhiteWave Foods Co, a wholly owned subsidiary, which also sells International Delight coffee creamer products, in an initial public offering. Shares of Dean Foods soared 30% in pre-market trading.
The company also reported a better-than-expected second-quarter net income of $56 million, or 30 cents per share. Excluding items, the company earned 36 cents per share, topping analyst estimates by 5 cents per share, according to Thomson Reuters I/B/E/S. The U.S. dairy company also lifted profit guidance for the year.
Macy's (M) reported Wednesday a second-quarter profit of $279 million, or 67 cents a share, up from $241 million, or 55 cents a share, in the year-ago period. Sales increased to $6.1 billion from $5.9 billion. Analysts expected earnings of 64 cents a share on sales of $6.1 billion, according to a survey by FactSet, MarketWatch reported. Shares of Macy's rose 3.2% in pre-market trading.
Priceline.com (PCLN), the online travel agency, reported better-than expected quarterly profit on Tuesday, but provided investors with a disappointing outlook. The company said it expects adjusted profit of $11.10 to $12.10 a share for the current quarter, much lower than analyst estimates of $12.76 a share, according to Thomson Reuters I/B/E/S. Shares of Priceline.com sank 15% in premarket trading.
McDonald's (MCD) said that sales at restaurants open at least 13 months were flat in July. The biggest fast food chain in the world is partly blaming a sluggish economy, according to the AP. Shares of McDonald's traded 3.4% lower in pre-market action.
MEMC Electronic Materials (WFR), the silicon wafer maker, reported a surprise second-quarter profit on an adjusted basis of 14 cents per share, which topped expectations for a loss of 2 cents, according to Thomson Reuters I/B/E/S. Shares rallied 35% in pre-market.
MORE ON MSN MONEY
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.
When it comes to efficiency gains, a watt saved is a watt earned.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.