ACCENTURE RISES ON DEBUT: Accenture shares rose 4.6 percent after its $1.67-billion initial public offering. Accenture closed at $15.17 after the company sold shares at $14.50, near the top of its $13 to $15 estimated range. However Accenture, formerly Andersen Consulting, told investors that revenue growth is likely to slow as telecommunications and computer companies reduce their spending on services.
Earnings PepsiCo Inc.
Strong growth in its snack-food, soft-drink and juice businesses boosted the Purchase, N.Y., company's earnings 16 percent from a year ago. Notably, sales at its Bradenton-based Tropicana juice line grew 6 percent during the quarter ended June 16.
Separately, PepsiCo's executives declined to comment on reports that staff attorneys at the Federal Trade Commission were recommending that the commission go to court to block the company's bid to buy Quaker Oat Co. Much of the concern over the deal has come from worries over PepsiCo's possible ownership of Gatorade, the market-leading sports drink owned by Quaker.
Per Share44 cents38 cents
The Northbrook, Ill., insurer's income tumbled 63 percent in the quarter ended June 30. The biggest catastrophe losses in seven years, a rise in homeowner claims and lower profits at its life insurance and annuity unit contributed to the shortfall. Allstate's shares fell $5.20, or 13 percent, to $36.
Per Share23 cents61 cents
United Parcel Service Inc.
The world's largest freight shipper warned that it sees no impending relief from a lackluster economy that has hurt demand for the delivery of goods. The Atlanta company's results for the quarter ended June 30 were a penny per share higher than Wall Street expected.
Per Share55 cents60 cents
While the El Segundo, Calif., company posted a loss for the quarter ended June 30, earnings on an operating basis more than doubled as the largest toymaker cut costs and boosted sales of toys such as Barbie dolls and Hot Wheels cars. Restructuring charges came to $15-million in the recent quarter.
Per Share-1 cent1 cent
Second-quarter income fell for the Fort Lauderdale auto retailer, as new-vehicle sales declined 9.3 percent. Results for the three months ended June 30 include one-time adjustments.
Per Share26 cents28 cents
Bausch & Lomb Inc.
Stymied by slowing demand for contact lenses and laser eye surgery equipment, the Rochester, N.Y., company saw its income drop 80 percent in the quarter ended June 30. Earnings were sharply lower than analysts' expectations of 22 cents a share. Bausch & Lomb also said it rehired former chief executive William Waltrip as chairman. The company said Waltrip is returning to allow current CEO William Carpenter to focus on business operations.
Per Share13 cents64 cents