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Market Update

Alcoa, Avon Jump, Pessina to Lead Walgreens Boots


Author: Mukesh Buch
ticker.com
Last Update: 12:22 PM ET July 09 2015

12:10 PM New York Alcoa revenues were ahead of expectations but earnings lagged. LKQ agreed to acquire PartsChannel. PepsiCo net was flat after sales declined 6%. Peabody sells its Australian mine. Walgreens Boots Alliance net surged.

Tollbooth Index jumped 1.1% or 116.88 to 10,646.70.

Earnings Review

Alcoa Inc (AA) jumped 4% or 42 cents to $10.92 after the aluminum, titanium and nickel producer reported revenues in the second-quarter ending in June increased 1.7% to $5.9 billion from a year ago period.

Net income in the quarter rose 1.4% to $140 million or 10 cents per diluted share compared to $138 million or 12 cents from the same quarter last year.

Avon Products, Inc (AVP) gained 2.7% or 16 cents to $6.16 after the beauty and skincare products maker agreed to sell its wholly-owned UK-based natural skincare brand Liz Earle to Walgreens Boots Alliance for 140 million in an all-cash deal.

The company will use the proceeds for the anticipated redemption of $250 million.

Conn''s, Inc (CONN) slumped 3.2% or $1.34 to $41.19 after the durable consumer goods retailer said total retail net sales in June soared 11.9% to $102.6 million and same store sales in the month increased 1.1%, impacted by exit in video game products, digital cameras, and certain tablets.

LKQ Corporation (LKQM) rose 5 cents to $30.40 after the vehicle accessories distributor agreed to acquire PartsChannel, Inc., an aftermarket collision parts distributor for an undisclosed amount.

PepsiCo, Inc (PEP) increased 31 cents to $95.92 after the food and beverages maker reported revenues in the second-quarter ending on June 13 declined 6% to $15.9 billion from a year ago period.

Net income in the quarter was flat at $1.98 billion but diluted earnings per share increased to $1.33 from $1.29 in the same quarter last year.

Peabody Energy Corp (BTU) rose 1 cent to $1.63 after the coal miner confirmed that it agreed to sell a shuttered Australian mine to a unit of Brisbane coal-technology company Exergen Pty. Ltd for about $75 million.

The transaction is expected to close in the third-quarter.

Walgreens Boots Alliance Inc (WBA) soared 4.6% or $3.98 to $89.90 after the drugs retailer reported sales in the third-quarter ending in May climbed 48.4% to $28.8 billion from a year ago period.

Retail pharmacy U.S. division comparable drugstore sales jumped 6.3%.

Net income in the quarter surged 82.4% to $1.3 billion or $1.18 per diluted share compared to $714 million or 74 cents from the same quarter last year.

Separately, the company announced Stefano Pessina will assume permanent chief executive. Pessina, interim executive vice president had assumed the role since Walgreen veteran George Wesson left the company after a power struggle.

Pessina played a key role in in the merger of Alliance Boots with Walgreens.

WD-40 Company (WDFC) plunged 5.5% or $4.86 to $83.96 after the household products retailer stated total net sales revenues in the third-quarter ending in May slipped 3% to $92.5 million from a year ago period.

Net income in the quarter jumped 5% to $11 million or 75 cents a diluted share compared to $10.4 million or 69 cents in the same quarter last year.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc