(Premarket story updated to reflect share price changes and retail same-store sales news)
NEW YORK (TheStreet) -- PepsiCo (PEP - Get Report) offered to buy 66% of Russian dairy products and fruit-juice maker Wimm-Bill-Dann (WBD) for $3.8 billion. Pepsi will offer to buy the remaining shares once the acquisition is completed, the company said in a press release Thursday.
Luxury homebuilder Toll Brothers ( TOL - Get Report) reported a swing to profit in the fiscal fourth quarter on a tax benefit as revenue and homebuilding deliveries fell. Toll posted fourth-quarter net income of $50.5 million, or 30 cents a share, a swing from a year-earlier loss of $111.4 million, or 68 cents a share. Toll shares were falling by 1.4% to $18.20 in premarket trading.
November same-store sales reports, which include results from the Black Friday weekend, largely topped estimates. Shares of Abercrombie and & Fitch ( ANF - Get Report) surged by 7.6% to $54.25 in early trading as the retailer said same-store sales rose 22%, beating the increase of 6.8% that analysts expected. Gap ( GPS - Get Report), Macy's ( M - Get Report) and Target ( TGT - Get Report) also all posted better-than-expected same-store sales gains in November. Gap fell 0.3%, Macy's rose 0.8% and Target tacked on 1.3% in premarket trading. Warehouse retailer Costco ( COST) said comparable-store sales in November rose 9%. Analysts surveyed by Thomson Reuters were expecting same-store sales to increase 6.2%. Shares of Costco were up 0.9% to $68.91 in premarket trading.
Kroger ( KR - Get Report), Novell ( NOVL) and Phillips-Van Heusen ( PVH - Get Report) are among the companies reporting quarterly earnings Thursday. Novell was down 0.2% to $5.95, and Kroger was down 6.1% to $22.40 before the markets open Thursday; Phillips-Van Heusen finished Wednesday at $70.02, up 3.2%.
China-based specialty chemical manufacture Chemspec International ( CPC) says it has received a financing letter from its chairman and CEO regarding a proposal to acquire certain outstanding shares of the company. The stock ended Wednesday's trading session up 1.1% to $7.23.
|More on Earnings Today's Top Earnings|