JPMorgan and Yum Brands beat, Viacom eyes Paramount Pictures sale
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JPMorgan (JPM) – The big bank reported $1.55 earnings per share, topping Wall Street estimates of $1.43, with revenue of $25.2 billion. JPMorgan’s consumer bank deposits climbed 10% from one year ago to a record high, while merchants’ credit card processing volume rose 13%.
Viacom (VIAB) – The company is in focus after the Wall Street Journal reported that it plans to sell 49% of Paramount Pictures to China’s Dalian Wanda Group. This potential deal comes as some have encouraged selling part of Paramount to bring in cash.
Yum Brands (YUM) – The company raised its earnings guidance and reported a beat on the bottom line for its second-quarter results. Yum posted adjusted earnings per share of 75 cents on $3.01 billion in revenue. Analysts expected the company to report earnings per share of 74 cents on $3.09 billion in revenue.
Valeant (VRX) – The drug maker says its former CEO Michael Pearson remains a significant shareholder in the company. Pearson still owns more than 3.5 million shares and is required to hold 1 million shares for two years following his termination.
Delta Air Lines (DAL) – The airline reported earnings per share of $2.03 on revenue of $10.4 billion. Delta also announced it will reduce its capacity to fly to the United Kingdom by 6% in wake of Brexit.
Dick’s Sports Goods (DKS) – RBC Capital upgraded Dick’s Sports Goods to outperform from sector perform and raised its price target to $56 from $41.
