This morning, Sysco (NYSE:SYY) reported fiscal fourth quarter earnings of $283 million, or 47 cents per share, as revenue climbed by 5% to $11.6 billion. Excluding certain charges, the company would have earned 59 cents per share, topping Wall Street estimates. Shares of Sysco were lower on Monday morning, falling more than 2%.
In related news, Pinnacle Foods (NYSE:PF) is buying the Wish-Bone salad dressing brand from Unilever (NYSE:UL) for $580 million. Sales for the salad dressing brand totaled $190 million last year and the transaction will be funded with cash on hand and new debt. In early trading, shares of Pinnacle Foods were sharply higher, but shares of Unilever were modestly lower.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.