PepsiCo and Helen of Troy both beat earnings expectations in reports released ahead of Thursday's open, while weekly jobless claims held at historic lows. PepsiCo reported Q3 earnings of $2.34 per share on revenues of $25.27 billion, beating estimates by +2.18% and +1.59% respectively, with shares up +1% though still down more than -12% year to date. Helen of Troy, maker of OXO home products and Hydro Flasks, posted a fiscal Q2 beat of $0.79 per share versus expectations for $0.51, a +54.9% positive surprise, with revenues down -0.12% from estimates to $440.93 million; strong guidance for the present quarter and full year sent shares up +20% in pre-market trading. Initial Jobless Claims came in at +197K, 2K lower than the prior week and the fourth-straight week under +200K, marking the lowest level post-Covid, while Continuing Claims rose slightly to +1.716 million from a downwardly revised 1.699 million. Pre-market futures were in the red, with the Dow at -399 points, the Nasdaq at -242 and the S&P 500 at -33 points, as renewed attacks on Saudi energy infrastructure by Iran-backed Houthis pushed spot oil up +4.7% to $92 per barrel on WTI and $104 per barrel for Brent crude.
Helen of Troy LtdHelen of Troy beat fiscal Q2 estimates ($0.79 vs $0.51) and issued strong guidance, sending shares up 20% pre-market.
PepsiCo IncPepsiCo beat Q3 earnings and revenue estimates ($2.34 EPS, $25.27B revenue), lifting shares 1%.
