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Stock Market & Financial Investment News

News Breaks
June 18, 2014
11:26 EDTKRFT, DF, THS, CAG, SJMConAgra 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
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August 27, 2015
19:22 EDTSJMJ.M. Smucker shares look reasonably priced, Barron's says
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07:05 EDTSJMJ.M. Smucker reports Q1 US Retail Coffee net sales $565M
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07:04 EDTSJMJ.M. Smucker backs FY16 revenue $8B, consensus $7.92B
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07:03 EDTSJMJ.M. Smucker backs synergy target related to Big Heart of $200M by FY18-end
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07:03 EDTSJMJ.M. Smucker backs FY16 adjusted non-GAAP EPS $6.80-$6.95, consensus $5.73
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07:02 EDTSJMJ.M. Smucker reports Q1 non-GAAP EPS $1.32
07:02 EDTSJMJ.M. Smucker reports Q1 adjusted EPS $1.60, consensus $1.23
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August 26, 2015
15:00 EDTSJMNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Dollar General (DG), consensus 94c... J. M. Smucker (SJM), consensus $1.23... Tiffany (TIF), consensus 91c... Signet Jewelers (SIG), consensus $1.15... Patterson (PDCO), consensus 54c... Michaels (MIK), consensus 16c... Burlington Stores (BURL), consensus 12c.
10:00 EDTTHSOn The Fly: Analyst Upgrade Summary
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07:50 EDTTHSTreeHouse upgraded to Overweight from Equal Weight at Stephens
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August 24, 2015
14:02 EDTSJMJ.M. Smucker August weekly volatility elevated into Q1 and outlook
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August 23, 2015
19:56 EDTCAG, THSTreeHouse in talks to buy ConAgra private label unit for $3B, NY Post says
TreeHouse Foods (THS) chairman and CEO Sam Reed privately told certain investors last week that the company is in talks to buy ConAgra's (CAG) Ralcorp private label food unit for roughly $3B, reports the New York Post, citing a source with inside knowledge. Post Holdings (POST) is also eyeing Ralcorp, sources told the publication. Reference Link
August 19, 2015
10:00 EDTSJMOn The Fly: Analyst Upgrade Summary
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06:29 EDTSJMJ.M. Smucker upgraded to Outperform on sales growth progress at Credit Suisse
Credit Suisse upgraded J.M. Smucker to Outperform and increased its price target to $126 from $112. The firm said the latest Nielsen data indicates sales growth has turned with notable progress in coffee and pet food. Additionally, Credit Suisse believes management is about to introduce a more aggressive cost savings target for the Big Heart integration and expects shares to narrow the valuation gap versus peers as revenue growth and market share improves.
August 17, 2015
13:09 EDTCAGConAgra names Darren Serrao Chief Growth Officer
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