Kellogg Company (NYSE:K), the cereals and snacks company reported Q3 earnings and sales declined as higher revenue in Latin America and Asia failed to offset declines in North America and Europe. Earnings were better than expected, while sales came in line and full-year guidance also fell short. For Q3 reported earnings were $224 million, or $0.62 per diluted share, a decrease of 31% from the $0.90 per diluted share a year ago. EPS included an impact from mark-to-market of $0.11 per share, $0.19 per share of costs associated with the company's Project K efficiency drive program, and approximately $0.02 per share of integration costs related to the acquisition of Pringles.Excluding items, earnings were $0.94 per share, beating the consensus view by two cents. Kellogg Company (NYSE:K) reported net sales decreased by 2.1% to $3.6 billion, roughly in line with forecasts for $3.68 billion. For the full-year, adjusted earnings are expected to be between $3.81 and $3.89. Including the impact of the 53rd week and currency translation, it sees EPS of between $3.88 and $3.96 per share. Analysts are looking for $3.92. The shares recently traded at $61.01 with a 52-week range of $55.69 - $69.50.Fidelity National Information Services (NYSE:FIS) reported solid Q3 financial results, with earnings topping Street forecasts by $0.01 and sales in-line with the consensus of analysts polled by Capital IQ. The Florida-based banking and payment technologies company reported Q3 earnings, excluding non-recurring items, of $0.80 per diluted share from $0.74 per diluted share in the year-ago period, beating the consensus of $0.79 per share. Revenues rose 7% year-on-year to $1.61 billion, in-line with Street estimates of $1.6 billion. The company reaffirmed its FY2014 guidance with organic revenues expected to grow 4.5%-6.5%, and narrowed its EPS range to between $3.06 and $3.12 versus the consensus of $3.10 a share. Previously, the company expected EPS of between $3.05 and $3.16 a share. Fidelity National Information Services (NYSE:FIS) shares are trading within a 52-week range of $47.40 - $58.86.TransAlta Corporation (USA) (NYSE:TAC) on Thursday reported a quarterly net loss, missing analyst estimates, as power prices in Alberta declined, partly offset by improved performance in the power producer's coal division. TransAlta Corporation (USA) (NYSE:TAC) reported a comparable net loss for the third quarter of $13 million, or $0.05 per share, down from comparable net earnings of $39 million or $0.15 per share in the same period last year. Analysts expected EPS of $0.08, according to Capital IQ estimates. The decrease was driven by lower comparable EBITDA of $212 million, down from $266 million in the same period last year, and higher non-controlling interests, the company said. TransAlta reported revenue of $639 million in the quarter, up from $623 million in the previous year, and above estimates of $602 million. Power prices in Alberta averaged $64/MWh during the quarter compared with $84/MWh during Q3 2013.
Discover Hidden Gems
Don't miss the next big opportunity. Subscribe for timely alerts on potential market movers.
