Consumer Biz Review: Avon’s Earnings Miss, McDonald’s Strategic Shift
Boeing (NYSE:BA) officially signs its deal to supply Indonesia’s Lion Air with 230 planes. The deal is worth $22.4 billion and it is Boeing’s largest-ever commercial airplane order.
McDonald’s (NYSE:MCD), until recently, has been allowing pork farmers to use gestation stalls to confine female hogs. Now it is asking the farmers to stop using the gestation stalls to confine female hogs as it tries to improve its image with animal rights groups, as well as to follow suit with other restaurant chains.
Don’t Miss: China’s Wal-Mart Business is Growing.
Monsanto (NYSE:MON) will appeal a court ruling in France. The court found the company liable in the death of a farmer who inhaled the firm’s Lasso herbicide, which had been banned since 207 under the directive of the European Union.
Things get worse for beleaguered Avon (NYSE:AVP) as shares dive following a fourth quarter miss. Due to a $263 million goodwill charge and increased tax rate, Avon also had a net loss of $400,000 versus a profit of $229.5 million a year earlier. Despite the loss, Avon declared a first quarter dividend of $0.23 per common share.
IMAX Corporation (NASDAQ:IMAX) posted a note on its website that the first quarter box office sales through February 12 are up 45% year-over-year. Shares are on the rise as a result. The sales of $55 million are driven by sales for Mission Impossible – Ghost Protocol.
Fossil (NASDAQ:FOSL) experienced a significant drop following fourth quarter results which exceeded earnings per share estimates but missed on revenues. Investors are inspired by the outlook for earnings per share of $5.40-$5.50 fiscal year 2012 and $0.90-$0.92 first quarter, and 15% revenue gains for both the quarter and year, which implies $2.96 billion in fiscal year 2012 and $617.3 million in the first quarter.
Investing Insights: Spending on Consumers Electronics a Mixed Bag in 2011.
To contact the reporter on this story: Tanya Harding at email@example.com
To contact the editor responsible for this story: Damien Hoffman at firstname.lastname@example.org