$HRL reported a rise in 1Q17 earnings driven by higher interest and investment income and lower interest expense. Net income rose to $235.3MM or $0.44 per share from $235.17MM or $0.43 per share last year. Net sales declined 1% to $2.28Bil. Adjusted sales increased 3%.
$TSLA said in terms of its $500MM cash generation outlook, part of
this will come from doing loans and cash sales of systems. As part of the
SolarCity acquisition, $TSLA committed to $150MM in synergies and some of the
cash generation will come from pursuing these synergies. The company is on
track to achieve this.
$FIT said that it will see the biggest downdraft in the US in terms of sell-in. EMEA has continued to be a strong growth market for the company and expects it to continue to grow in 2017 also. In Asia-Pac, $FIT is looking for just stability and to be somewhere in the neighborhood of flat YonY.
$SQ's businesses that was launched in 2014 are now comprising 25% of adjusted revenue. The company said its investments are having big and positive impact in quick time, and in 2017, it will make sure of doubling down into areas that are doing well.
$FIT said that on the competitive pressure, the company has 81% market share in the wearables business. The company is not seeing any material impact from competitors. $FIT also added that the challenge for the company is how to reignite growth itself.