The two giants of the beverage empire reported earnings this week, with PepsiCo outperforming estimates and Coca-Cola missing them.
Citigroup reported earnings today — coincidentally the same day the Justice Department announced a $7 billion settlement with the bank over crisis-era mortgage securities. Its quarterly earnings fell 96 percent to $181 million and its return on equity was a mere 0.2 percent — mostly due to the aforementioned fines. However, the numbers are nonetheless stronger than expected, largely because of a strong quarter in its fixed income business.
Morgan Stanley reported earnings this morning, announcing that its quarterly profit fell to $192 million ( 7 cents per share) in the fourth quarter from $661 million (33 cents per share) in the same period of the previous year. The drop was largely due to some $1.2 billion in legal bills.
JPMorgan reported its fourth quarter earnings this morning, beating expectations despite the numerous regulatory penalties, including settlements related to the Madoff case.
As Reuters reports, Facebook’s stock was up as much as 15% in extended trading yesterday, despite some worrying new information about the site’s popularity. Facebook’s daily usage in the US has plateaued of late, and the company’s CFO said yesterday that young teens aren’t flocking to the site at the rate they once were: