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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
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September 30, 2014
11:27 EDTKRFTOptions with decreasing implied volatility
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September 26, 2014
16:18 EDTCAGConAgra files automatic mixed securities shelf
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September 23, 2014
10:39 EDTCAGConAgra unit launches partnership with USO
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September 22, 2014
10:15 EDTTHSOn The Fly: Analyst Upgrade Summary
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08:22 EDTTHSTreeHouse Foods upgraded at SunTrust
As noted earlier, SunTrust upgraded TreeHouse Foods to Buy from Neutral. The firm thinks the company's organic growth is poised to accelerate for the first time in years, partly due to a rebound of core North American grocers and the company's improved product offerings. Target to $95 from $75.
06:09 EDTTHSTreeHouse Foods upgraded to Buy from Neutral at SunTrust
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September 19, 2014
16:24 EDTCAGStocks rise after Fed keeps pledge for 'considerable time' before rate hike
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September 18, 2014
16:27 EDTCAGOn The Fly: Closing Wrap
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12:45 EDTCAGOn The Fly: Midday Wrap
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10:27 EDTCAGOptions with decreasing implied volatility
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10:03 EDTCAGConAgra says to limit share repurchases as company delevers
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08:59 EDTCAGOn The Fly: Pre-market Movers
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07:37 EDTCAGConAgra sees Q2 comparable EPS in line with 2Q14
Comparable EPS for the 2Q15 is expected to be in line with year-ago amounts given the strong comparable EPS performance in 2Q14. Q2 EPS consensus 61c.
07:34 EDTCAGConAgra backs FY15 EPS view of mid-single digit rate growth vs. FY14
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07:33 EDTCAGConAgra reaffirms commitment to maintaining strong dividend
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07:32 EDTCAGConAgra reports Q1 adjusted EPS 39c, consensus 35c
Reports Q1 revenue $3.7B, consensus $3.73B. Gary Rodkin, ConAgra Foods’ CEO, said, “We are pleased with the good start to fiscal 2015, which demonstrates improving fundamentals and better execution. Volume for Consumer Foods is recovering, Lamb Weston’s foodservice channel sales are robust, and cost savings programs across the company are coming in as planned. We remain confident that fiscal 2015 will be a year of stabilization and recovery, and I look forward to updating you on our progress throughout the fiscal year.”
September 17, 2014
15:34 EDTCAGConAgra technical comments ahead of results
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15:18 EDTCAGNotable companies reporting before tomorrow's open
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10:48 EDTSJMHigh option volume stocks
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