Rite Aid Beats EPS Estimates and 3 Hot Stocks to Follow
Samsung Electronics announced it had concluded discussions with the State government of Texas and now intends to take forward a $3.9 billion investment in the expansion of system chip production lines at its chip plant in Austin, Texas.
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Rite Aid (NYSE:RAD) reports third quarter EPS of $0.07 beating estimates by $0.09. Revenue of $6.2 billion is in line with expectations. The quarter’s results were driven by continued front-end sales and prescription count growth. New generic medications also pushed up pharmacy gross margins. Adjusted EBITDA increased for the eighth quarter in a row. The company raises its guidance for FY 2013, expecting sales between $25.15 billion-$25.3 billion and EPS in the range of – $0.05 to $0.03 per diluted share.
ConAgra Foods (NYSE:CAG) reports FQ2 EPS of $0.57 and revenue of $3.73 million which beat by $0.01 and $0.04 billion respectively. Results were driven by “effective margin management initiatives, moderating input cost inflation, benefit of acquisitions, and good results from potato operations, collectively driving high quality EPS growth,” in the words of Gary Rodkin, CEO. Sales were up 11% at the Consumer Foods segment, with operating profit growing 12%. Sales were higher by 5% at the Commercial Foods segment, with operating profit also growing at 5%. EPS for fiscal 2013 is now forecast at $2.06 versus the previously estimated $2.03-$2.06.
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