ABC News’ John Kapetaneas reports:
I knew my snack bag felt lighter! PepsiCo’s signature flavored potato chips are packing “an ounce or two” fewer pieces than the regular Lay’s chips, company CEO Hugh Johnston told The Associated Press. That might not seem like much to the average consumer, but it could mean an extra $50 million a year in savings for Pepsi. The company reported increased earnings Tuesday morning, and beat analysts’ estimates for the second quarter quarter.
The battle at the box office begins this weekend, as Dwayne Johnson’s “Hercules” goes head-to-head with Scarlett Johansson’s “Lucy.” “The Rock” has consistently been a hero at the box office, with films grossing $1.3 billion in 2013. The demi-god flick is expected to pull in between $20 million and $30 million this weekend, which would take second to Johansson’s expected $40 million debut.
Markets are facing the weekend on a lower note, as much of Europe and markets in India traded negatively throughout the day. Asian markets ended the day in the green, however, as trading in Japan and Hong Kong finished up 1 percent and pushed the Asia Dow into the positive for the day. U.S. futures are down this morning, but may change in early trading as U.S. durable goods orders for June increased 0.7 percent to $239.9 billion, beating estimates.
In earnings news, fewer companies are reporting this final trading day of the week. Here are some of the highlights from pre-market reports:
-Hardware giant Stanley Black & Decker posted a 16 percent rise in second quarter profits, and reported higher sales amid the slowly recovering U.S. housing market.
-Xerox reported a 2 percent drop in profits and missed analysts’ earnings estimates, as the company continues to transition beyond its core print and copy business.
-Swiss security company Tyco met analysts’ expectations this quarter, reporting $1.45 billion in earnings from $135 million in the same quarter last year. Revenue also rose 4.9 percent to $2.66 billion.
-Credit rating service Moody’s beat analysts’ estimates, reporting increased revenue by 16 percent.
-Air France, Europe’s third-largest airline, said early this morning that operating profits had tripled in the second quarter, up to 238 million euro (about $319 million) in the same quarter last year.