Procter & Gamble (NYSE:PG) calls the flare-up at Diamond Foods (NASDAQ:DMND) “very disappointing” as it evaluates new options for the sale of Pringles after originally working out a $2.35 billion cash and debt deal with the embattled firm. Jeffries says the deal looks to be off.

PepsiCo (NYSE:PEP) announces plans to cut 8,000 employees or 3% of its workforce by 2014. Dividend is raised 4% to an annualized rate of $2.15/share. It expects 2012 share repurchases of at least $3 billion, which will be financed through a combination of free cash flow and additional debt.

Investing Insights: Retail Stocks on the Rise After Reporting Earnings.

Crocs (NASDAQ:CROX) launch a number of global and regional licensing agreements. This is an effort to extend its brand beyond footwear. After selling 200 million pairs of Crocs shoes, the company will try its luck with apparel, sunglasses, and other accessories.

Urban Outfitters (NASDAQ:URBN) reported fourth quarter net sales of $731 million, up 9% year-over-year. Comparable retail net sales, which include the direct-to-consumer channels, rose 2%, while comparable store net sales fell 1%.

Don’t Miss: Chinese Want Their Starbucks, No Matter the Price.

Yum Brands (NYSE:YUM) plans to open at least 150 Pizza Hut restaurants in China this year. An executive with the firm says it will spend 700 million yuan ($111.2 million) to open the pizza joints in “third-or fourth-tier” cities this year.

MGM Resorts International (NYSE:MGM), Las Vegas Sands Corp. (NYSE:LVS) and Wynn Resorts, Limited (NASDAQ:WYNN) may well benefit from Las Vegas Strip gambling revenue jumping 3.6% to $518 million in December. Slot machine revenue was up 6.4% and table games win were up 1.7%. The Strip results “reflect the continued strengthening of trends with volume growth in tables without baccarat and slot,” J.P. Morgan says.

Don’t Miss: Pizza Hut Loving the Chinese Market.

To contact the reporter on this story: at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

Get Your FREE Special Report: 4 Things You Must Know About the US Economy Now!