U.S. equities were mixed Wednesday as former Federal Reserve chairman Alan Greenspan said there were bubbles in the bond and stock markets, sending large-caps into negative territory. The S&P 500 Index edged 0.1% higher, the Dow Jones Industrial Average surged 0.3% and the Nasdaq Composite wafted up 0.1% by day’s end.
Several companies made headlines after hours on their earnings reports, including Mondelez International Inc (NASDAQ:MDLZ), Paypal Holdings Inc (NASDAQ:PYPL) and Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX).
Here’s how they did:
Mondelez International Inc (MDLZ)
Mondelez posted better-than-expected quarterly results late yesterday.
The snack company reported net income of $802 million, or 53 cents per share for its fourth quarter, topping the $93 million, or six cents per share from a year ago. Adjusted earnings were 57 cents per share, ahead of the outlook of 56 cents per share.
Revenue came in at $6.97 billion for Mondelez, rising from the year-ago sales and meeting the Wall Street consensus estimate of $6.97 billion. The new U.S. tax laws helped the company garner a $59 million benefit.
For its fiscal year 2018, the company projects an adjusted earnings per share growth of double digits on a constant currency basis. Mondelez also sees its organic net revenue to rise 1% to 2% and an adjusted operating income margin of 17%.
MDLZ stock was flat after Wednesday’s market close.
Paypal Holdings Inc (PYPL)
PayPal also reported on its earnings Wednesday.
The payment services provider posted fourth-quarter revenue of $3.71 billion on a foreign-exchange neutral basis, growing 24% year-over-year. The Wall Street consensus estimate called for revenue of $3.63 billion.
PayPal also unveiled strong profit as its adjusted earnings were 55 cents per share to close out fiscal 2017. Analysts had reached a consensus outlook of 52 cents per share.
The company sees its overall revenue for the year to be in the range of $15 billion to $15.25 billion. Analysts polled by Yahoo Finance were calling for revenue of $15.16 billion.
During the fourth quarter, PayPal processed $131 billion in total payments volume, marking a 32% increase. The company now has 227 million active customer accounts as it added 8.7 million during the quarter. However, it took a hit on news that eBay Inc (NASDAQ:EBAY) had moved away from PayPal as its preferred payment processor.
PYPL stock sunk 11.5% after hours yesterday.
Vertex Pharmaceuticals Incorporated (VRTX)
Vertex Pharmaceuticals stock was rising after hours on the company’s latest results.
The pharmaceutical company posted fourth-quarter adjusted earnings of 61 cents per share, rising 74% year-over-year. The figure topped analysts’ expectations of 58 cents per share in adjusted profit.
On the revenue front, Vertex Pharmaceuticals added that it raked in $651.6 million in sales, topping the Wall Street consensus guidance of $596 million. The figure also beat the year-ago revenue by 42%.
One of the company’s most impressive metrics was its cystic fibrosis segment, as its various treatments for the condition brought in $621 million, beating the year-ago mark by 37%. The biggest of these drugs, Orkambi, saw its sales gain 32% year-over-year to reach $365 million.
“As we look at 2018 and beyond, Vertex’s scientific expertise and financial strength position us to advance key pipeline programs in CF, including our triple combination regimens and bring forth potential new medicines in multiple other serious diseases,” said CEO Jeffrey Leiden.
VRTX shares popped 5.5% after the bell.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.