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VIDEOTicker Shock: Toyota Gets More Compact; Pepsi Goes Flat
Friday's top stories and stocks with potential to move.
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Asian stocks traded higher overnight. The Hang Seng closed up more than 2% and the Nikkei was up almost 1%. Meanwhile, European stocks were a bit of a mixed bag earlier this morning. And here in the good old USA, we're currently trading a smidge lower.
Here is what I’m focused on this morning:
McAfee (MFE)
The security-software company released its fourth-quarter results after the bell last night.Excluding items, it earned $0.53 a share, which was in line with expectations. However, its revenue line came in at $424 million, which was a nice jump over the $356.5 million it put up in the comparable period last year and was apparently a few million north of what analysts had been looking for.
As far as the future is concerned, the company indicated that it’s looking for $0.46 to $0.50 per share (non-GAAP) in first quarter. Analysts are at $0.50.
Overall I thought it was a decent quarter, and I sense the shares move higher on the news. For the long run I’m bullish here as well. The company has a good name, and I’ve got to think that the demand for (computer) security related products will only perk up over time.
PepsiCo (PEP)
The soft-drink giant was out with its fourth-quarter numbers this morning.Excluding items, it put up $0.88 a share, which was in line with expectations. Although its revenue number, which was about $12.73 billion, looked a bit light. The estimate I’m seeing was $12.8 billion.
I thought it was a decent quarter overall, although there was nothing that spoke to me and said that I need to climb aboard right here. That said, the following line in the release did catch my eye, and makes me think the shares could have some upside potential: "The company intends, subject to market conditions, to spend up to $2.5 billion repurchasing its shares in 2009.”
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