Momentum Stocks

PepsiCo Acquires South Africa’s Pioneer Foods Group

PepsiCo Acquires South Africa’s Pioneer Foods Group

PepsiCo (PEP) said early on Friday that it has signed an agreement to acquire South Africa’s Pioneer Foods Group (JSE: PFG) for about $1.7 billion in cash, creating a “leading” food and beverage company in Africa. The US food, snacks and beverage giant will purchase Pioneer Foods for 110.00 South African rands ($7.89) per share, which implies a valuation of […]

Harris Wins $212 Mln F/A-18 Electronic Warfare System Contract

Harris Wins $212 Mln F/A-18 Electronic Warfare System Contract

Harris (HRS), a technology and defense company, said pre-market Monday that it has won a $212 million contract modification to supply electronic jammers to protect US Navy and foreign military sales F/A-18 Hornet and Super Hornet aircraft from electronic threats. The contract, which represents the largest order on the program to date, was received during the company’s fiscal Q3. Harris […]

Morgan Stanley Remains ‘Cautious Evenweight’ on Western Digital Ahead of Earnings

Morgan Stanley Remains ‘Cautious Evenweight’ on Western Digital Ahead of Earnings

Western Digital (WDC) is scheduled to report earnings after the close on Monday, and while the company is enthusiastic about a second half recovery, Morgan Stanley analysts said they are “convinced” that there is too much inventory for that to happen. “WD does have an offsetting tailwind as hard disk drive margins should recovery through the year, but still from […]

Sonic Automotive Jumps 9%; Q1 EPS Beats

Sonic Automotive Jumps 9%; Q1 EPS Beats

Sonic Automotive (SAH) shares jumped 9% intraday after the company reported early Thursday Q1 adjusted earnings of $0.39 per diluted share, up from $0.26 per share a year ago and also above the $0.23 average estimate from analysts polled by Capital IQ. Total revenue fell to $2.39 billion from $2.40 billion a year ago, and lagging the $2.42-billion consensus. Sonic’s […]