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Stock Market & Financial Investment News

News Breaks
January 22, 2013
07:10 EDTADM, INGR, CAG, KO, HNZU.S. consumption of high fructose corn syrup declines, Bloomberg reports
Consumption of high fructose corn syrup, used to sweeten products from Coca-Cola (KO) to H.J. Heinz (HNZ) ketchup and linked to obesity, is falling in the U.S. as health-conscious consumers drink less soda, reports Bloomberg. Reference Link
News For ADM;INGR;CAG;KO;HNZ From The Last 14 Days
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October 21, 2014
07:36 EDTKOCoca-Cola expects to be below long-term EPS growth target for 2014
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07:34 EDTKOCoca-Cola reports comparable Q3 EPS 53c, consensus 53c
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October 20, 2014
16:00 EDTKOOptions Update; October 20, 2014
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15:48 EDTKOCoca-Cola October weekly 43 straddle priced for 2.7% move into Q3
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15:36 EDTKONotable companies reporting before tomorrow's open
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08:07 EDTKOCoca-Cola Bottling to exchange franchise territory with Coca-Cola
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October 16, 2014
14:13 EDTADMU.S farmers use less fertilizer this autumn as crop prices fade, Reuters says
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10:07 EDTKOCoca-Cola volatility elevated into Q3 and outlook
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October 15, 2014
16:37 EDTINGROn The Fly: Closing Wrap
The market opened sharply lower amid sliding oil prices, worse than expected economic data, and the potential for a major M&A deal to fall apart due to tax inversion rule changes. The Dow fell more than 350 points within the first 30 minutes of trading, but then bounced back to move above its opening level. The volatility did not end there, however, as the market swung several more times during the session. The S&P 500's drop wiped out its gains for the year at one point, but a late day rally significantly cut the losses for the major averages. ECONOMIC EVENTS: In the U.S., retail sales, which were expected to be down 0.1% in September, actually fell 0.3% in the month and slipped 0.2% excluding autos. The Producer Price Index for final demand decreased a seasonally adjusted 0.1% in September from the prior month, marking the first decline in the measure in over a year. The core PPI reading, which excludes food and energy, was unchanged, versus expectations for a 0.1% rise. New York's Empire State manufacturing index fell 21.4 points to 6.2 in October, severely missing the expectation for a narrower pullback to a reading of 20. Business inventories rose 0.2% in August, versus expectations for an increase of 0.4%. In China, the consumer price index climbed 1.6% in September from a year earlier, which was below the consensus projection for 1.7% inflation and down from 2% inflation in August. China's PPI plunged 1.8% year-over-year in September, which was more than the 1.6% slide expected and an acceleration of the 1.2% year-on-year decline in August. COMPANY NEWS: Shares of Shire (SHPG) plunged $74.08, or 30.29%, to $170.49 after AbbVie's (ABBV) board last night stated that it was reconsidering its recommendation that the company's shareholders back a takeover of Irish drugmaker in light of the potential impact of tax rule changes on the deal. During the day, Bloomberg reported that people familiar with the matter say AbbVie is close to abandoning its $51B takeover bid, while Shire announced that it has agreed to waive the requirement for three business days' notice for AbbVie's board to meet to consider its offer. In contrast, AbbVie ended the session up 50c, or 0.92%, at $54.63... Wal-Mart (WMT) held its annual meeting, during which it lowered its fiscal year 2015 net sales growth forecast to 2%-3%, citing a tougher sales environment than it anticipated a year ago. The company indicated in February that it expected net sales growth to be at the low end of its guidance provided last October of 3%-5%. The world's largest retailer also cut its planned retail square foot growth expectations, due to a moderation of large format store growth and accelerated e-commerce investments. Following the outlook revisions, Wal-Mart closed down $2.78, or 3.57%, to $75.20. MAJOR MOVERS: Among the notable gainers was Penford Corporation (PENX), which jumped $7.60, or 69.15%, to $18.59 after the company agreed to be acquired by Ingredion (INGR) for $340M, or $19.00 in cash per share. Also higher was Southwestern Energy (SWN), which rose $2.59, or 7.82%, to $35.69 after it was among a number of oil and gas exploration and production names upgraded by analysts at Bank of America Merrill Lynch. Among the noteworthy losers was Nu Skin (NUS), which dropped $4.47, or 9.13%, to $44.50 after the company disclosed new debt arrangements that come with certain restrictions, including restrictions on the payment of dividends. Also lower were shares of Covidien (COV), which fell $6.50, or 7.04%, to $85.86 in the wake of the news for Shire and AbbVie, which investors may have read as jeopardizing Covidien's deal to be bought by Medtronic (MDT). Note that on October 3 Medtronic announced that it intends to use approximately $16B in external financing to complete the acquisition of Covidien and said the strategic benefits of the transaction "remain compelling" despite the additional expense of the new financing. INDEXES: The Dow dropped 173.45, or 1.06%, to 16,141.74, the Nasdaq slipped 11.85, or 0.28%, to 4,215.32, and the S&P 500 fell 15.21, or 0.81%, to 1,862.49.
10:13 EDTINGRSeacor enters agreement in support of Penford's pending transaction
SEACOR Holdings (CKH), the owner of approximately 9.34% of the outstanding common stock of Penford Corporation (PENX), has entered into a Voting Agreement in support of Penford's pending merger with Ingredion Incorporated (INGR), announced by Penford. Under the terms of the merger agreement, Penford shareholders are to receive $19.00 per share in cash as merger consideration. Pursuant to the Voting Agreement, SEACOR has agreed, among other things, to vote the Penford shares it owns to approve the Merger Agreement, dated October 14, among Penford, Ingredion and Prospect Sub, and not to seek the election of SEACOR's nominees to the board of directors of Penford prior to termination of the Merger Agreement or the occurrence of certain other events.
08:05 EDTINGRIngredion sees Penford acquisition 10c-15c accretive to EPS in first year
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08:03 EDTINGRPenford to be acquired by Ingredion for $19 per share in all-cash transaction
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08:02 EDTINGRPenford to be acquired by Ingredion for $19 per share in all-cash transaction
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October 14, 2014
13:46 EDTCAGConAgra reaffirms guidance, sees Q2 EPS in-line with year ago
ConAgra Foods said it expects to affirm its previously announced FY15 guidance of diluted earnings per share to show a mid-single digit rate of growth over comparable FY14 when meeting with investors today. It adds the remaining EPS growth in FY15 is expected to occur in the second half of the fiscal year. Comparable EPS for Q2 is expected to be in line with year-ago amounts given the "strong comparable EPS performance" in the second quarter of last year. The company reaffirms its operating cash flow, debt reduction, and dividend guidance.
11:25 EDTCAGCargill to distribute certain ConAgra foods in Brazil
Cargill and ConAgra Foods are pleased to announce a partnership to bring the Huntís line of condiments and ACT II microwave popcorn to Brazil. In the past three years the condiments market has grown 4.5% a year; the main product in this category is tomato ketchup, which accounts for about 93% of this market. In Brazil, the microwave popcorn market has considerable growth potential as a result of strong sales of microwave ovens to the countryís new middle class in recent decades.
11:20 EDTINGRIngredion upgraded to Buy from Hold at Standpoint Research
October 13, 2014
15:23 EDTKOCoca-Cola Amatil could sell water brand to Coca-Cola, AFR says
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12:31 EDTADMArcher Daniels to acquire Specialty Commodities for $170M
Archer Daniels Midland Company, or ADM, announced an agreement to purchase Specialty Commodities Inc., or SCI, a leading originator, processor and distributor of healthy ingredients, including nuts, fruits, seeds, legumes and ancient grains, for $170M, subject to post-closing adjustments. When the transaction closes, SCI will become part of ADMís new WILD Flavors and Specialty Ingredients business unit. ADM anticipates closing the transaction, which is subject to regulatory approval, in the coming weeks.
October 10, 2014
12:05 EDTADMUSDA raises U.S. corn production estimate to 14.475B
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October 9, 2014
10:38 EDTKOPepsiCo climbs after results beat estimates, outlook raised
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