Barron’s Update On Chiquita Brands International: Q2 Sales Fall

Shares of Chiquita Brands International

were up almost 4% after the company surpassed second quarter expectations of $885 million, instead reporting $916 million. Despite the increase in share price, revenue was down by 4% on a year over year basis. According to Barron’s, the company described its first half of the year as slow and expects its sales to decline due to turmoil in the Euro. However, Chiquita Brands International expects to make $80 to $90 million in net income as compared to analyst forecasts of $74 million.