Coca-Cola tops estimates; Viacom, Snapchat extend deal; Sears near 52-week low on sales warning
Here are some of the stocks the Yahoo Finance team will be watching for you today.
Coca-Cola (KO) reported better-than-expected earnings and revenue for the fourth quarter, as aggressive cost cuts and higher volume and pricing helped offset the impact of a stronger dollar. Coke also said it's accelerating its bottler-refranchising efforts.
Viacom (VIA) (VIAB) and Snapchat are taking their business partnership a step further. The two companies have extended a deal that will allow Viacom to sell advertising on Snapchat's mobile app's behalf. The deal was announced as Viacom posted earnings per share that came right in line-with estimates, while revenue missed forecasts, as domestic ad sales declined and it posted weak performance in its cable and film divisions.
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Wendy's (WEN) delivered a slight beat on both its top and bottom lines for the fourth quarter, as same-store sales growth improved in North America, as it expanded its menu offerings and renovated restaurants to attract more customers.
Sears (SHLD) warned that fourth quarter sales will be weaker-than-expected after a challenging holiday season. The company plans to speed up store closures and make even deeper cost cuts as a result. Sears is due to report quarterly results at the end of the month.
Gap (GPS) provided an upbeat outlook for the fourth quarter and the year despite reporting a decline in same-store sales in all three of its brands, which includes Gap, Old Navy and Banana Republic stores during its holiday quarter.