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CG Stocks Momentum! Coca-Cola European Partners (CCE), Pitney Bowes (PBI)

Shares of Coca-Cola European Partners plc Ordinary Shares (NYSE:CCE) ended Tuesday session in green amid volatile trading. The shares closed up +0.44 points or 1.17% at $38.03 with 926,063.00 shares getting traded. Post opening the session at $37.49, the shares hit an intraday low of $37.43 and an intraday high of $38.17 and the price vacillated in this range throughout the day. The company has a market cap of $18.14 billion and the numbers of outstanding shares have been calculated to be 482.55 million shares.

Coca-Cola European Partners plc Ordinary Shares (CCE) announced its interim results for the six months ended 1 July 2016.

Highlights

First-half diluted earnings per share were €0.74 on a reported basis or €0.83 on a pro forma comparable basis, including a negative currency translation impact of €0.02.

First-half reported revenue totaled €3.5 billion. Pro forma comparable revenue was €5.2 billion, down 3 per cent, or down 1.5 per cent on a pro forma comparable and fx-neutral basis. Volume declined 1.0 per cent on a comparable basis.

First-half reported operating profit was €314 million; pro forma comparable operating profit was €603 million, down 2.5 per cent or flat on an fx-neutral basis.

CCEP provides its full-year guidance for 2016, including pro forma comparable, fx-neutral diluted earnings per share growth in a mid-teen range, with flat revenue growth and modest mid-single-digit operating profit growth.

CCEP remains on track to achieve pre-tax savings of €315 million to €340 million through synergies by mid-2019.

CCEP declares initial quarterly dividend of €0.17 per share.

Shares of Pitney Bowes Inc. (NYSE:PBI) ended Tuesday session in green amid volatile trading. The shares closed up +0.19 points or 1.15% at $17.22 with 609,531.00 shares getting traded. Post opening the session at $17.20, the shares hit an intraday low of $17.12 and an intraday high of $17.28 and the price vacillated in this range throughout the day. The company has a market cap of $3.21 billion and the numbers of outstanding shares have been calculated to be 185.59 million shares.

Pitney Bowes Inc. (NYSE:PBI) announced that Rue La La now has a globally optimized retail site for members around the world, as part of its international online expansion strategy. By using the Borderfree Retail solution from Pitney Bowes, Rue La La will provide a seamless, localized shopping experience for their members in 219 countries and territories around the world.

The Borderfree Retail solution delivers an end-to-end technology and services platform that attracts new consumers, provides a localized shopping experience, handles payments and landed costs, and ensures that deliveries reach customers efficiently.

“We’re excited to extend Rue La La to new markets. Providing phenomenal experiences while serving up great brands at amazing values is what Rue does so well in the United States. It’s thrilling to be able to share our brand and capabilities to a new audience,” said Mark McWeeny, CEO, Rue La La.

“Our passion is to help consumers around the world shop fashion-forward retailers like Rue La La,” said Lila Snyder, President, Global Ecommerce for Pitney Bowes. “We are looking forward to working together to help them reach new members around the globe.”

 

About Steve Johnson

Steve Johnson was previously writing news on part time basis with many consumer goods websites. Now Steve Johnson is writing columns with us on consumer goods. He has no match the way he presents the news on consumer goods. Customers like his news, analysis and predictions.

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