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Market Update

Mondelez Soars; Perrigo, Whole Foods Decline


Author: Mukesh Buch
ticker.com
Last Update: 1:10 PM ET May 07 2014

12:55 PM New York Duke Energy net swung to a loss $97 million but revenue soared 12%. Icahn Ent net swung to a loss. Mondelez Intl net tumbled 70%. Perrigo profit plunged 57%. Walt Disney profit surged 27%. Whole Foods plunged 20% after growth stalls.

Duke Energy Corp (DUK) increased 43 cents to $73.50 after the energy company reported revenue in the first-quarter ending in March soared 12.2% to $6.62 billion.

Net in the quarter swung to a loss $97 million or 13 cents a diluted share compared to a profit of $634 million or 89 cents.

Icahn Enterprises LP (IEP) dropped 2.4% or $2.52 to $100.75 after the diversified holding company said net sales in the first-quarter ending in March rose 2.2% to $4.67 billion.

Net in the quarter swung to a loss $29 million or 24 cents a diluted share compared to a profit of $277 million or $2.50.

Mondelez International Inc (MDLZ) surged 7.9% or $2.79 to $38 after the food and beverage maker reported net revenue in the first-quarter ending in March fell 1.2% to $8.64 billion.

Net earnings in the quarter tumbled 69.6% to $163 million or 9 cents a diluted share compared to $536 million or 30 cents.

Separately, the company said it intends to combine its coffee portfolio with D.E Master Blenders 1753 B.V.''s coffee business to create the world''s leading pure-play coffee company.

The new company, to be called Jacobs Douwe Egberts, will hold leading positions in more than two dozen countries.

The combination transaction is expected to be completed in 2015.

Perrigo Company (PRGO) plummeted 8.4% or $12.06 to $130.93 after the healthcare company net sales in the third-quarter ending in March jumped 9% to $1 billion.

Net income in the quarter plunged 57% to $48.1 million or 36 cents a diluted share compared to $111.9 million or $1.18.

The Walt Disney Company (DIS) gained 48 cents to $81.51 after the entertainment company reported revenues in the second-quarter ending in March climbed 10% to $11.65 billion.

Net income in the quarter surged 27% to $1.92 billion or $1.08 a diluted share compared to $1.51 billion or 83 cents.

The company said revenue from the studio entertainment climbed 35% to $1.80 billion and consumer products jumped 16% to $885 million from a year ago.

Whole Foods Market, Inc (WFM) tumbled 19.7% or $9.45 to $38.50 after the organic foods retailer said total sales in the second-quarter ending in March climbed 10% to $3.3 billion. Comparable store sales in the quarter jumped 4.5%.

Net income in the quarter was flat at $142 million and diluted earnings per share were flat at 38 cents from a year ago.

The stock tumbled after the company turned cautious and lowered its current fiscal year net income to $1.56 a share from the previous estimate as high as $1.65 a share.

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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