Molson Coors Brewing Company (NYSE:TAP) reported Q3 results that missed the Street view on EPS despite revenues in line with analyst expectations. The company reported Q3 adjusted EPS of $1.46, down from $1.51 a year ago and missing analyst projections of $1.48. Total revenues of $1.16 billion were down from $1.17 billion in Q3 2013 but in line with analyst projections of $1.16 billion for the quarter. Molson Coors Brewing Company (NYSE:TAP) reported worldwide beer volume of 16.4 million hectoliters decreased 3.4% over the prior year period."While we continued to expand gross margins and generate substantial cash, the underlying results were impacted by negative foreign currency movements, increased marketing spending, and the loss of the Modelo business in Canada, partially offset by the release of a reserve following the favorable resolution of a regulatory matter in Europe, all of which accounted for a combined $22 million negative pretax impact in the quarter," said Molson Coors president and chief executive officer Peter Swinburn. "Our results also reflected weak consumer demand in the U.S., Europe and Canada."Solazyme Inc (NASDAQ:SZYM) shares plummeted to their lowest level ever in recent morning trade after reporting a larger loss in Q3 than had been expected by analysts. Solazyme Inc (NASDAQ:SZYM) was most recently down nearly 39 at $4.57, an all-time low if it holds into the regular trading session. The 52-week range is currently between $5.54 and $15.00. The maker of technology that transforms plant-based sugars into oils said its non-GAAP loss widened to $0.45 per share from $0.34 a year ago and was worse than the $0.42 loss expected by analysts polled by Capital IQ. Revenue rose to $17.6 million from $10.6 million but fell short of the $19.2 million consensus. The reported net loss was $39.7 million or $0.50 per share compared to a loss of $30.7 million or $0.47 a year ago.Kate Spade & Co (NYSE:KATE), an accessories and apparel retailer, announced Q3 results that missed on EPS and total revenues, hurt by a decline in its Adelington Design Group. Kate Spade & Co (NYSE:KATE) reported a slight adjusted loss of $0.00, narrower than the loss of $0.05 reported in Q3 2013 but missing analyst estimates of $0.02 in earnings for the quarter. Total revenues of $250.41 million were up from $192.61 million in Q3 2013 but missed analyst projections of $251.94 million.Net sales for Kate Spade North America were $193 million, a 36.4% increase compared to 2013, driven primarily by kate spade new york. Net sales for Kate Spade International were $51 million, a 32.8% increase compared to 2013, driven by operations in Japan and Southeast Asia. Net sales for the Adelington Design Group segment were $7 million, a 48.6% decrease compared to 2013. The company has increased full year 2014 Adjusted EBITDA guidance to a range of $130 million - $140 million, up from previous guidance of $120 million - $130 and has provided a 2016 adjusted EBITDA margin target of 18% - 20%. Shares of KATE are at $26.26 within a 52-week range of $24.07 - $42.87.
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