Hershey Co (NYSE:HSY) (The Motley Fool)
What happened: Shares of Hershey Co. (NYSE:HSY) slipped today after the company posted disappointing results in its fourth-quarter earnings report. Like its peers, the candy maker is struggling with a consumer shift away from sugary foods and drinks to healthier products. The stock was down 5.7% as of 11:19 a.m. EST. So what: Hershey said net sales declined 1.7% in the period to $1.94 billion as sales volume was off 2.3%. That was slightly below analyst estimates of $1.96 billion, though the company blamed the tumble in part on the timing of shipments in the quarter and the successful launch of Hershey’s Cookie Layer Crunch Bar in the period the year before.
eBay Inc (NASDAQ:EBAY) (MarketWatch)
More than two years after splitting up with PayPal Holdings Inc., eBay Inc. is planning to distance itself from the relationship even more. EBay EBAY, +14.47% said Wednesday that it plans to take over crucial payments-processing duties for its core Marketplace e-commerce offering, a role that PayPal PYPL, -6.21% has handled for the e-commerce site under a deal signed when the two companies split in 2015. EBay said it expects to fully transition to the new system in 2021 with the help of a new payments partner, Adyen; the deal with PayPal runs through mid-2020, and eBay said that PayPal had agreed to a new agreement that will continue to allow buyers to pay with its services through at least 2023.
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QuinStreet Inc (NASDAQ:QNST) (Benzinga)
QuinStreet Inc shares jumped 30.9 percent to $12.21 after reporting a second quarter earnings beat. The company guided FY18 revenues outlook at 20 percent growth.
Alibaba Group Holding Ltd (NYSE:BABA) (Barron’s)
Alibaba Group Holding (BABA) shares are down about 3.5%, to $197.25, on Thursday morning after the Chinese online retail giant posted disappointing earnings for its holiday quarter. Missing earnings expectations is never good, but the stock appears to be reacting to another issue, according to some observers. Alibaba took a 33% stake in Ant Financial, an affiliate that operates a mobile payment wallet called Alipay and other financial services. Previously, Alibaba had a deal to shares some of Ant’s profits, but that deal will now become an equity agreement.
Nokia Oyj (ADR) (NYSE:NOK) (The Motley Fool)
What happened: Shares of Finnish telecom infrastructure giant Nokia (NYSE:NOK) soared in Thursday’s morning session, rising as much as 16.6% on a strong fourth-quarter earnings report. As of 11:30 a.m., EST, Nokia’s stock had settled down at a still-impressive 12.5% gain. So what: Nokia’s fourth-quarter net sales held steady year over year at 6.7 billion euro or $8.4 billion. Adjusted earnings rose 8% to 0.13 euro or $0.16 per share.
Resolute Forest Products (NYSE:RFP) (Benzinga)
Resolute Forest Products Inc. shares dipped 28.4 percent to $8.20. Resolute Forest Products reported Q4 net income of $13 million, after posting a loss in the year-ago period. Resolute Forest Products named Yves Laflamme as President and CEO.
Take-Two Interactive Software, Inc (NASDAQ:TTWO) (MarketWatch)
Shares of Take-Two Interactive Software Inc. TTWO, -2.61% are down 2.9% in Thursday trading after the company said that it has delayed the release of of its Red Dead Redemption 2 title until October. The game has already been delayed once before, as it was originally slated to launch last October before the company pushed that back as well. “Getting the long tail of the game correct is more important than recognizing the units two quarters earlier,” wrote KeyBanc Capital Markets analyst Evan Wingren, who rates the stock at overweight with a $144 target. “We’d take advantage of the weakness on that belief.
Qorvo Inc (NASDAQ:QRVO) (Barron’s)
With shares of Qorvo (QRVO) rebounding after a disappointing forecast this afternoon, some investors may be agreeing with Cody Acree of Drexel Hamilton, who thinks bad news is already in the share price. Qorvo stock initially traded lower after it reported fiscal Q3 results that topped analysts’ expectations, but offered an outlook for this quarter’s revenue 16% lower than consensus. The stock has bounced back, now up 12 cents, or 2.5%, at $4.90.
