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Today’s Research Reports on Stocks to Watch: Kellogg and Sprint

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NEW YORK, NY / ACCESSWIRE / November 1, 2018 / Kellogg company saw its worst trading day in almost two decades on Wednesday after reporting disappointing quarterly results. Shares of Sprint on the other hand were exploding on better than expected second quarter results and a boosted outlook for the full year.

RDI Initiates Coverage on:

Kellogg Company

Sprint Corporation

Kellogg Company shares were down 8.88% on Wednesday with almost 8 million shares traded. The company saw its shares drag as much as 9.6% in the morning. It was the biggest drop for the stock in almost 20 years. For the third quarter Kellogg reported revenue of $3.47 billion which higher than the expectation of $3.42 billion by analysts. Company’s EPS of $1.06 per share was on par with Wall Street estimates. Traders may have been spooked by the company's cut outlook. Kellogg is expecting full-year adjusted earnings to see a growth of 7 to 8%. Previously the company had forecast 11 to 13%. Operating profit was cut from a 5 to 7% increase to now being flat. CEO Steve Cahillane remarked on the earnings call, "The single hardest thing to do in consumer-packaged goods is return to top-line growth." Kellog also slashed its full-year profit and earnings outlook. Cahillane added, "Could we have pulled back on some investment in Q3 and delivered more profit? Yes, of course. But we are leaning into investment right now." The company has been spending more on advertising and promotions to help drive sales of its cereals. Cahillane said on the call, "Q3 was another quarter of good progress under Deploy for Growth. We said we would increase our investment in brands and capabilities, and we did. We continued to improve consumption trends worldwide across most of our categories in the United States and in other developed markets around the world. We sustain our accelerated organic growth rate in our emerging markets and we continue to expand distribution and consumption for single-serve pack formats, which are outpacing our categories."

Access RDI’s Kellogg Company Research Report at:

Sprint Corporation shares closed up 7.75% on about 33 million shares traded yesterday. It was a solid second quarter that sent shares of the wireless company higher on Wednesday. Sprint not only beat on the top and bottom line but also increased its full-year guidance and saw growth in wireless service revenue. The company reported earnings of 5 cents while analysts had expected a loss of 1 cent. Revenue of $8.43 billion was also higher than the $7.97 billion that analysts had expected. Sprint CEO Michel Combes said during the earnings call, "We delivered net income for the fourth consecutive quarter and operating income for the 11th consecutive quarter. Furthermore, we delivered positive adjusted free cash flow for the sixth time in the last seven quarters. We reached new milestone in our digital transformation and continued to lead the industry in several key metrics around digital sales and the implementation of artificial intelligence. In addition, we nearly doubled our network CapEx year-over-year and our network continued to improve as demonstrated by Ookla Speed test data which shows Sprint's network was the most improved of any national carrier in terms of average download speeds."

Access RDI’s Sprint Corporation Research Report at:

Our Actionable Research on Kellogg Company (NYSE: K) and Sprint Corporation (NYSE: S) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com