Mondelez International Reports 2015 Results and Provides 2016 Outlook and 2018 Margin Target
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RBC Capital Cuts Price Target Reflecting Mondelez Int'l's (MDLZ) Venezuela Deconsolidation
February 4, 2016 6:52 AM ESTRBC Capital maintained an Outperform rating on Mondelez International (NASDAQ: MDLZ), and cut the price target to $49.00 (from $51.00), following the company's Venezuela deconsolidation. RBC continues to believe that the size of Mondelez's cost-savings opportunity sets it apart from most packaged food peers. Also, the... More
Mondelez Int'l (MDLZ) Misses Q4 EPS by 2c; Announces Venezuela Accounting Change
February 3, 2016 8:05 AM ESTMondelez Int'l (NASDAQ: MDLZ) reported Q4 EPS of $0.46, $0.02 worse than the analyst estimate of $0.48. Revenue for the quarter came in at $7.36 billion versus the consensus estimate of $7.27 billion.
Venezuela Accounting Change
The company also announced that, effective as of the end of the fourth quarter 2015, it began to account for its investments in its Venezuelan subsidiaries using the cost method of accounting. The change in accounting treatment reflects the loss of control due to the inability to operate in the normal course of business and the lack of currency... More
