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Stock Market & Financial Investment News

News Breaks
June 18, 2014
11:26 EDTCAG, DF, SJM, THS, KRFTConAgra sinks after cutting EPS outlook for Q4
Shares of packaged foods company ConAgra (CAG) are sinking after the company lowered its fourth quarter adjusted earnings per share outlook below prior expectations. WHAT'S NEW: This morning, ConAgra cut its Q4 adjusted EPS view to approximately 55c compared to its prior view of slightly in excess of 60c per share. The consensus forecast of analysts for Q4 EPS prior to the report was 62c. The lower-than-expected comparable EPS is largely the result of a 7% quarterly volume decline for the Consumer Foods segment, as well as weak profits for the Private Brands segment. Gary Rodkin, CEO of ConAgra Foods, commented," We are disappointed with the Consumer Foods volume performance, which negatively impacted comparable EPS. As we have communicated, we are in the process of improving product mix and promotion strategies in the Consumer Foods segment for better results and greater effectiveness, and we expect our volume performance to improve in fiscal 2015 as a result of this. Given the profit challenges in our Private Brands segment, we are also focused on margin improvement initiatives to offset the impact of pricing concessions. Even though our earnings are below expectations, we exceeded our fiscal 2014 operating cash flow and debt reduction targets." WHAT'S NOTABLE: For FY15, the company expects a year of "'stabilization and recovery" that delivers mid-single-digit comparable EPS growth. The company expects that comparable EPS growth in fiscal 2016 and 2017 will accelerate to a high-single-digit rate as the company benefits from stronger underlying operations, generates sizable productivity and administrative savings and continues to realize substantial synergies from the Ralcorp transaction. The company, which remains committed to a strong dividend policy in the future, plans to continue its current $1.00 per share annual dividend payment. ConAgra said its current profit projections for the Private Brands segment are below original plans for the next several years. ANALYST REACTION: This morning, KeyBanc downgraded ConAgra to Hold from Buy. PRICE ACTION: In late morning trading, ConAgra fell $2.25, or about 7%, to $30.60 on nearly twice its average daily trading volume. Including today's pull back, the stock is down approximately 11% over the past 12 months. OTHERS TO WATCH: Shares of ConAgra peer Dean Foods (DF) are down about 2%, while Kraft Foods (KRFT) is down modestly. The J.M. Smucker Company (SJM) is virtually unchanged and TreeHouse Foods (THS) is down over 1.3%.
News For CAG;DF;SJM;THS;KRFT From The Last 14 Days
Check below for free stories on CAG;DF;SJM;THS;KRFT the last two weeks.
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August 31, 2014
13:44 EDTSJMBarclays to hold a conference
Back-to-School Consumer Conference to be held in Boston on September 3-5.
August 29, 2014
13:02 EDTKRFTKraft Foods recalls select varieties of regular Kraft American Singles
Kraft Foods Group is voluntarily recalling 7,691 cases of select varieties of regular Kraft American Singles Pasteurized Prepared Cheese Product. A supplier did not store an ingredient used in this product in accordance with Kraft's temperature standards. While unlikely, this could create conditions that could lead to premature spoilage and/or food borne illness, therefore, the company is issuing the recall as a precaution. Kraft has had no consumer illness complaints for this product associated with this recall. The affected product is limited to four varieties with "Best When Used By" dates of February 20, 2015, and February 21, 2015. The affected product was shipped to customers across the U.S. It was not distributed outside of the U.S. The affected product was produced at Kraft's Springfield, Missouri manufacturing facility.
August 26, 2014
07:00 EDTKRFTKeurig Kraft deal to provide market share boost, says William Blair
William Blair believes that Keurig Green Mountain's (GMCR) licensing deal with Kraft (KRFT) is an important step in Keurig's efforts to recapture unlicensed share. Following Keurig's decision to raise its portion pack prices by 9%, the firm thinks that the conversion of formerly unlicensed players likely enhances the ability of Keurig to implement price increases. William Blair keeps an Outperform rating on the stock.
August 22, 2014
16:20 EDTKRFTOn The Fly: Closing Wrap
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12:57 EDTKRFTKeurig Green Mountain surges after inking deal with Kraft
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12:20 EDTKRFTOn The Fly: Midday Wrap
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10:43 EDTKRFTKeurig Green Mountain volatility low, shares up on Kraft licensing agreement
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09:01 EDTKRFTKeurig Green Mountain, Kraft Foods announce licensing agreement
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August 20, 2014
07:05 EDTSJMJ.M. Smucker reports Q1 U.S. Retail Coffee segment volume up 2%, sales down 2%
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07:04 EDTSJMJ.M. Smucker backs FY15 EPS $5.95-$6.05, consensus $6.02
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07:02 EDTSJMJ.M. Smucker reports Q1 EPS $1.34, consensus $1.37
Reports Q1 revenue $1.32B, consensus $1.37B. Q1 sales reflect lower net price realization, particularly related to coffee, and the continued impact of the Company's exit of its private label hot beverage business in its International, Foodservice, and Natural Foods segment during 2014.
August 19, 2014
15:16 EDTSJMNotable companies reporting before tomorrow's open
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11:00 EDTKRFTMcDonald's to unveil retail coffee initiative, Huffington Post says
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