Login to your account

Lost your password?

In the news: Verizon and Coca-Cola miss, SunEdison's CEO talks growth and more

Tuesday headlines include: Earnings misses from Verizon and Coca-Cola, Total S.A.'s CEO dying after his jet collided with a snow plow in Russia, SunEdison's CEO describing the long upward trajectory for the solar industry, and a possible data breach at Staples.

Verizon

Telecommunications giant Verizon (VZ) said Tuesday that it earned 89 cents per share in the third quarter on revenue of $31.59 billion. Analysts had expected earnings of 92 cents per share on $31.71 billion in revenue. The company added 1.5 million net new post-paid wireless subscribers, topping estimates for 1 million.

Coca-Cola

Beverage giant Coca-Cola (KO) said Tuesday that it earned 48 cents per share in the third quarter or 53 cents per share on an adjusted basis. Revenue was $11.98 billion. Analysts had expected the company to earn 53 cents per share on $12.12 billion in revenue. Soda volumes fell by 1% in the North American market, although price increase and changes in product mix helped boost revenues. The company also announced plans to find $3 billion in annual savings by 2019, that is a change from $1 billion in cost cuts announced in February.

Total S.A.

Christophe de Margerie, the CEO of French oil giant Total S.A. (TOT) was killed when his private jet collided with a snowplow at a Moscow airport on Monday. The Dassault Falcon 50 burst into flames after striking the plow during takeoff, killing the three crewmembers as well as de Margerie. A spokeswoman for the Russian investigative agency said the snow plow driver, who was not hurt, was “in a state of alcoholic intoxication.”

SunEdison

Ahmad Chatila, the CEO of SunEdison (SUNE) said in a Monday interview that the sharp drop in the cost of solar energy puts a long growth trajectory in front of the industry. Chatila said the cost has fallen by 80% over the past five years, and he expects another 70 percent decline by 2020. Chatila said that at that point, solar energy will cost 4 or five cents per kilowatt hour, making it cheaper than power derived from natural gas.

Staples

Office-supply retailer Staples (SPLS) is reportedly investigating a potential breach that could have exposed customer payment card data. The company has contacted law enforcement about the issue, according to spokesman Mark Cautela.

Bobby Raines

Bobby Raines is the Managing Editor of the Market Intelligence Center. He has degrees in Mass Communications and History from Emory & Henry College. Bobby worked at a mid-sized daily newspaper before making a switch to covering the financial industry full time in the years leading up to the financial crisis. He has been a member of the Fresh Brewed Media team since 2011 and has served as a writer and analyst. You can write to him at braines@marketintelligencecenter.com or follow him on Twitter: @BRatMICenter.