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Market Update : 
PepsiCo Net Jumps on Price Increase, WD-40 Net Rises 40%
Author: Mukesh Buch
123jump.com
Last Update: 12:04 PM ET July 11 2017



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12:00 PM New York Barracuda Networks revenues soared 9%. PepsiCo net jumped on higher pricing and stronger than expected growth in North America. VOXX International net loss narrowed. WD-40 net surged 14%.

Tollbooth Index rose 15.08 to 12,088.24.

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Barracuda Networks Inc (CUDA) declined 4.5% or $1.08 to $22.92 after the data protection solutions provider said revenues in the first-quarter ending in May soared 9% from a year ago to $94.2 million.

Net income in the quarter slumped 3.6% to $2.7 million from $2.8 million and diluted earnings per share were flat at 5 cents from the same quarter last year.

PepsiCo, Inc (PEP) rose 2 cents to $114.27 after the food and beverage maker reported net revenues in the second-quarter ending on June 17 rose 2% from a year ago to $15.7 billion.

Net income in the quarter jumped 5% to $2.1 billion or $1.46 per diluted share from $2 billion or $1.38 in the same quarter last year.

PepsiCo said sales in North America rose 2% to $5.24 billion as net price increased to 1% and revenue in Frito-Lay North America business jumped 3% with volume increased of 1% and net price growth of 3%.

The food and beverage maker reaffirmed fiscal 2017 revenues forecast growth of 3% and earnings per share of about $5.13.

VOXX International Corp (VOXX) tumbled 22% or $1.95 to $6.90 after the automobile audio parts maker stated net sales in the first-quarter ending in May advanced 2.3% from a year ago to $159.1 million.

Net loss in the quarter narrowed to $3 million or 13 cents per diluted share from $4.3 million or 18 cents in the same quarter last year.

WD-40 Company (WDFC) fell 2.2% or $2.40 to $107.90 after the cleaning products maker said total net sales in the third-quarter ending in May increased 2% from a year ago to $98.2 million.

Net income in the quarter surged 14% to $14.4 million or $1.02 per diluted share from $12.7 million or 88 cents in the same quarter last year.

The homecare products maker estimated fiscal 2017 net sales between $382 million and $388 million and net income in the range of $51.3 million to$52.3 million and diluted earnings per share between $3.64 and $3.71.




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