Thursday, August 9, 2012

E TRADE Financial Jumps 6% (ETFC, SNSS, EAT, THI, PEP)

E TRADE Financial Corporation (NASDAQ:ETFC) shares gained 6.11% to $8.81 after the company’s Board of Directors has appointed Chairman Frank Petrilli to serve as interim Chief Executive Officer, effective immediately. Petrilli's appointment follows the departure of Steven Freiberg. Petrilli, who has served on the company’s Board since January 2012, will remain as Chairman. The company's Board has formed a committee to oversee the process of searching for a permanent CEO.

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Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) reported total revenue of $1.5 million for the three and six months ended June 30, 2012, as compared to nil and $4.0 million for the same periods in 2011. The company reported a net loss of $8.6 million and $22.5 million for the three and six months ended June 30, 2012, as compared to net losses of $8.2 million and $6.4 million for the same periods in 2011. The company’s cash, cash equivalents and marketable securities totaled $29.3 million as of   June 30, 2012, as compared to $44.1 million as of December 31, 2011.

Tim Hortons Inc. (USA) (NYSE:THI) posted second-quarter net income of C$108.1 million or C$0.69 per share, as compared with C$95.5 million or C$0.58 per share in the same quarter a year ago. Quarterly total revenues went up 11.8% to C$785.6 million from C$702.8 million in the comparable period in 2011. Analysts estimated expected earnings per share of C$0.69 on revenues of C$781.84 million for the quarter. Shares of THI slid 4.43% to $50.25.

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Brinker International, Inc. (NYSE:EAT) stock gained 6.70% to $34.74 after the company reported fourth-quarter net income of $47.0 million or $0.61 per share, versus $41.9 million or $0.49 per share in the 2011 period. Adjusted quarterly net income totaled $41.2 million or $0.48 per share in the previous year. Total revenues increased 1.5% to $728.4 million from $717.49 million last year. Analysts expected earnings per share of $0.58 on revenues of $734.42 million for the quarter.

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PepsiCo, Inc. (NYSE:PEP) will soon sell some of its drinks in Myanmar through a distribution agreement with Diamond Star Co Ltd. Under the terms of the agreement, Diamond Star has exclusive rights to import, sell and distribute Pepsi-Cola, 7-Up and Mirinda.

Additionally, Fitch Ratings has assigned an A rating to PepsiCo, Inc.'s (PepsiCo) newly issued $900 million 0.7% notes due August 2015, $1 billion 1.25% notes due August 2017, and $600 million 3.6% notes due August 2042. The Rating Outlook is Stable. PepsiCo plans to use the net proceeds for general corporate purposes, including the repayment of commercial paper which totaled $3.3 billion at June 16, 2012.

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