6 Early Buzzers: Exxon Disappoints, Liz Claiborne and Dunkin’ Brands Jumps 3%
Shares of Exxon Mobil Corp. (NYSE:XOM) declined 1.44 percent in morning trading. The oil giant reported that first-quarter profits dropped 11 percent to $9.45 billion ($2 per share), compared to $10.65 billion ($2.14 per share) a year earlier. Exxon Mobil Earnings Cheat Sheet>>
Chesapeake Energy Corp. (NYSE:CHK) shares fell more than 2 percent early Thursday. The company said it will not extend its Founder Well Participation Program, which came into the spotlight after CEO Aubrey McClendon took $1.1 billion out in loans through the program.
Liz Claiborne Inc. (NYSE:LIZ) shares jumped 3.4 percent before the opening bell. The company reported that is first-quarter loss narrowed to $60.6 million (60 cents per share), compared to $96.3 million ($1.02 per share) a year earlier.
Shares of Dunkin’ Brands Group Inc. (NASDAQ:DNKN) gained 3.2 percent in pre-market trading. The company announced it earned $26 million (21 cents per share) in the first-quarter, compared to a loss of $1.7 million (51 cents per share) a year earlier.
PepsiCo. Inc. (NYSE:PEP) shares edged slightly lower after financial results for the first-quarter. Net income for the beverage and snack company declined to $1.13 billion (71 cents per share), compared to $1.14 billion (71 cents per share) a year earlier. “Our first quarter results reflect the strength of our brands which allowed us to implement significant pricing actions,” said PepsiCo Chairman and CEO Indra Nooyi.
H&R Block Inc. (NYSE:HRB) shares dropped 13 percent in early trading. The company announced it plans to cut 350 full-time jobs and close about 200 under-performing offices. H&R Block is also looking for a new chief financial officer.
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