Pepsi pops on profit; Walgreens gains; Alcoa sales beat

Here are some of the stocks the Yahoo Finance team will be watching for you today as we begin the start of second quarter earnings season.

PepsiCo (PEP) Shares are getting a nice early bump.  The soda and snacks maker topped estimates on both its top and bottom lines in the period. Pepsi is also raising its earnings outlook for the full year.  The company says steps to improve productivity are boosting profits.

Walgreens Boots Alliance (WBA)  This stock is also benefitting from a boost in the company's outlook.  The biggest U.S. drugstore chain is raising both the high and low ends of its annual earnings expectations. It also scored a big beat in its fiscal third quarter profit, although revenue was below forecasts.  In addition, Walgreens is increasing its quarterly dividend by almost 7% to $0.36 a share.

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WD-40 (WDFC)  Shares are falling because unlike Pepsi and Walgreens, the maker of the well-known spray lubricant is lowering its full year profit and sales forecast.  It blames the strong dollar and disruptions in its Eastern European operations caused by the unrest in Ukraine. The company also says those factors caused it to miss estimates on both earnings and revenue in the second quarter.

Alcoa (AA) Shares are in focus as well.  The big aluminum producer known for kicking off the earnings season came a bit short on profit.  But revenue topped forecasts despite a 22% decline in aluminum prices.

Costco (COST) Shares are on the move higher. The biggest warehouse retailer is reporting June sales at stores open at least a year fell 1% overall, although they rose 3% in the U.S.  Costco says the strong dollar and falling gas prices ate into business.  Costco notes that when you take those two factors out, sales jumped 6%.

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