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Stock Market & Financial Investment News

News Breaks
December 19, 2013
11:31 EDTGIS, DF, CAGConAgra advances after results, guidance beat estimates
Shares of packaged food company ConAgra (CAG) are advancing after the company’s second quarter results and fiscal 2014 outlook beat analysts’ consensus estimates. WHAT'S NEW: This morning, ConAgra reported second quarter adjusted earnings per share of 62c and revenue of $4.71B. Analysts' consensus expectations were for EPS of 55c and revenue of $4.63B. WHAT'S NOTABLE: The company provided fiscal 2014 adjusted EPS guidance of $2.34-$2.38, compared to the consensus of $2.33. On the company’s Q2 earnings conference call, management said it was confident in its earnings outlook, and added that the company was in a great position to meet its FY14 and FY15 EPS and synergies targets. ANALYST REACTION: This morning in a note to investors, Citigroup said it was impressed with the profit margin increase in ConAgra’s consumer foods business, as well as the stock's price to earnings ratio of 12.4 versus the group median of 16.3. Citigroup, which expects the shares to rise significantly, reiterated its Buy rating and price target of $40 on the stock. PRICE ACTION: In late morning trading, ConAgra rose $1.90, or 6%, to $33.69 on heavy volume. OTHERS TO WATCH: Others in the packaged food space include Dean Foods (DF) and General Mills (GIS). General Mills reported weaker than expected results yesterday morning.
News For CAG;DF;GIS From The Last 14 Days
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April 16, 2014
13:54 EDTDFDanone slips after fresh dairy volume shrinks
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April 15, 2014
10:00 EDTDFOn The Fly: Analyst Initiation Summary
Allscripts (MDRX) reinstated with an Outperform at Raymond James... Amber Road (AMBR) initiated with a Buy at Canaccord... Autonation (AN) coverage assumed with a Market Perform at Wells Fargo... BG Group (BRGYY) initiated with an Outperform at BMO Capital... Borderfree (BRDR) initiated with a Buy at Canaccord... Dean Foods (DF) initiated with a Buy at BB&T... Destination XL (DXLG) initiated with a Buy at Ascendiant... Group 1 Automotive (GPI) coverage assumed with a Market Perform at Wells Fargo... Halozyme (HALO) initiated with a Buy at Citigroup... MakeMyTrip (MMYT) initiated with a Neutral at Goldman... Penske Automotive (PAG) coverage assumed with a Market Perform at Wells Fargo... RPM (RPM) initiated with an Outperform at Wells Fargo... RSP Permian (RSPP) initiated with a Buy at KLR Group... Repligen (RGEN) initiated with a Buy at Jefferies... Spansion (CODE) initiated with a Buy at Sterne Agee... Statoil (STO) initiated with a Market Perform at BMO Capital... TPG Specialty Lending (TSLX) initiated with a Buy at BofA/Merrill... Versartis (VSAR) initiated with a Buy at Citigroup... WWE (WWE) initiated with a Buy at Needham... WebMD (WBMD) reinstated with a Strong Buy at Raymond James.
09:27 EDTCAGConAgra sent FDA warning letter following inspection of sunflower seed plant
In a warning letter posted to the FDA website, dated April 7, the regulator alerted ConAgra that investigators documented insanitary conditions during inspections of the company's sunflower seed manufacturing plant in Missouri held on January 8-10, 13-16, 21, and 27. Reference Link
April 14, 2014
16:49 EDTDFDean Foods initiated with a Buy at BB&T
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April 4, 2014
10:02 EDTGISOn The Fly: Analyst Downgrade Summary
Antero Resources (AR) downgraded to Buy from Strong Buy at ISI Group... Cobalt (CIE) downgraded to Buy from Strong Buy at ISI Group... Franklin Resources (BEN) downgraded to Market Perform at Keefe Bruyette... Hasbro (HAS) downgraded to Hold from Buy at Needham... PPL Corp. (PPL) downgraded to Neutral from Outperform at Macquarie... Sonic (SONC) downgraded to Neutral from Buy at Buckingham... Vodafone (VOD) downgraded to Neutral from Buy at Nomura... AutoZone (AZO) downgraded to Neutral from Outperform at RW Baird... Advance Auto Parts (AAP) downgraded to Neutral from Outperform at RW Baird... LinnCo (LNCO) downgraded to Neutral from Buy at Citigroup... LINN Energy (LINE) downgraded to Neutral from Buy at Citigroup... General Mills (GIS) downgraded to Hold from Buy at Argus.
07:33 EDTGISGeneral Mills downgraded to Hold from Buy at Argus
Argus downgraded General Mills due to a weaker outlook for yogurt sales and the cereal business.
April 3, 2014
10:00 EDTCAGOn The Fly: Analyst Initiation Summary
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06:34 EDTCAGConAgra initiated with an Equal Weight at Morgan Stanley
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