Food maker General Mills said Wednesday that its fiscal fourth-quarter net income climbed 13 percent, helped by contributions from new businesses and strong sales overseas. But its fiscal 2014 adjusted earnings forecast came in slightly below analysts’ estimates, and General Mills Inc. shares dipped slightly before the market open.
UnitedHealth Group is raising its quarterly dividend by another 32 percent, to 28 cents per share. The new payout represents an increase of nearly 7 cents from the insurer’s current dividend of 21.25 cents. The largest U.S. health insurer says the dividend will be paid on June 21 to all shareholders of record as of the close of business June 14.
Hormel Foods’ fiscal second-quarter net income fell 2 percent as it dealt with one-time costs related to its acquisition of the Skippy peanut butter brand, higher grain costs and weaker turkey prices. Its quarterly performance missed Wall Street’s expectations.
Target Corp. reported a 26 percent drop in first-quarter profit as cool temperatures and financial pressures limited customers’ appetite for spending. The company, based in Minneapolis, also cut its annual profit outlook, sending its stock down in premarket trading.
Best Buy Co. on Tuesday reported a loss in its fiscal first quarter as it sold its stake in Best Buy Europe and works on a turnaround plan that includes cutting costs and closing some stores. Its adjusted earnings beat Wall Street expectations, but revenue fell short as the company faced tough pricing competition during the quarter. Its shares fell in premarket trading.
3M said Thursday its first-quarter profit barely rose as it faced weaker demand. It cut its profit guidance for the full year.
First-quarter profit shrank 45 percent. Caterpillar lowered its expectations for full year sales and profits because its mining business is slowing. Sales of Caterpillar-branded mining machines will drop by half this year, the company said on Monday.
UnitedHealth Group says its first-quarter net income dropped 14 percent, as the health insurer’s medical costs climbed, and it booked a smaller gain due to leftover insurance claims.
Snowmobile and ATV maker Polaris Industries Inc. on Tuesday said that its fourth-quarter profit climbed 38 percent, as increased sales of its off-road vehicles, motorcycles and gear and accessories more than offset a decline in snowmobile sales.
Target Corp. on Thursday reported a third-quarter net income that handily beat Wall Street expectations, and the big-box retailer issued a rosy outlook heading into the critical holiday shopping season.
Best Buy Co. is reporting a 90 percent drop in net income during the second quarter, dragged down by restructuring charges and weak sales. The company also withdrew its earnings guidance for the year.
UnitedHealth Group said Thursday that its second-quarter net income rose 5.5 percent, trumping Wall Street expectations, as enrollment gains helped fuel revenue growth and consumers continued to moderate their use of health care services.
Target Corp. says its revenue at stores open at least a year rose 4.3 percent in January, easily topping Wall Street’s expectations.
Water filtration and industrial company Pentair Inc. posted a fourth-quarter net loss because of an accounting charge, but its adjusted profit was better than analysts had been expecting.
3M Co. said Thursday its profit inched 3 percent higher in the fourth-quarter as growth in products for the home, office and automobiles offset declines in its high-tech products.