New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 18, 2014
11:26 EDTTHS, CAG, SJM, KRFT, DFConAgra 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
Sign up for a free trial to see the rest of the stories you've been missing.
November 25, 2014
11:16 EDTSJMJ.M. Smucker initiated with an Outperform at Tigress Financial
Subscribe for More Information
November 19, 2014
14:08 EDTKRFTEarnings Preview: Keurig Green Mountain sees FY14 EPS $3.71-$3.78
Subscribe for More Information
07:05 EDTSJMJ.M. Smucker backs FY15 EPS ex-items $5.45-$5.65, consensus $5.55
The company expects FY15 net sales to decrease approximately 1%, as compared to 2014. Revenue consensus $5.56B. Based on the full year results for the first six months of 2015, the company's outlook implies a modest increase in net sales for the last six months of 2015 over the same period last year. The company noted higher net price realization, favorable mix, and the contribution from Sahale as the primary contributors. Volume declines and an unfavorable net price realization to cost relationship in the U.S. Retail Coffee segment are the primary contributors of the income per diluted share decline for the last six months of 2015, compared to the same period in 2014. Free cash flow for 2015 is expected to approximate $500M reflecting the anticipated decrease in net income and a higher level of working capital requirements.
07:03 EDTSJMJ.M. Smucker reports Q2 EPS ex-items $1.53, consensus $1.53
Subscribe for More Information
November 18, 2014
15:21 EDTSJMNotable companies reporting before tomorrow's open
Subscribe for More Information
November 14, 2014
10:10 EDTDFOptions with decreasing implied volatility
Subscribe for More Information
November 12, 2014
13:41 EDTCAGConAgra calls active as shares near 13-month high
Subscribe for More Information
12:13 EDTSJMJ.M. Smucker downgraded to Neutral from Buy at Northcoast
Subscribe for More Information
10:00 EDTTHSOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
08:05 EDTSJMJ.M. Smucker cuts FY15 EPS excl items to $5.45-$5.65 from $5.95-$6.05
Subscribe for More Information
08:04 EDTSJMJ.M. Smucker: Q2 results fell short of expectations due to coffee business
The company said, "Our rapid ascent of coffee prices to reflect higher green coffee costs took its toll on volume. The balance of our businesses performed well. As we move into the second half, we anticipate overall coffee volume trends will improve compared to our second quarter, but the pricing impact of higher green coffee costs will continue through the remainder of the fiscal year. Looking forward, we do not believe there has been a fundamental change to the at-home coffee category. However, our teams will continue to focus on tactical opportunities to address the current market environment."
08:03 EDTSJMJ.M. Smucker reports Q2 preliminary EPS excl. items $1.53, consensus $1.66
Subscribe for More Information
07:09 EDTTHSTreeHouse upgraded at Stifel
Subscribe for More Information
06:37 EDTTHSCiti says Hershey, TreeHouse, Mead still top picks in Food
After meeting with ten U.S. Food Manufacturers, Citigroup says Hershey (HSY), TreeHouse (THS) and Mead Johnson (MJN) remain its top picks in the space. Citi favors domestic companies, but says the consumer environment for food remains difficult with volume growth "hard to come by" in the U.S. The firm believes the expected uptick in U.S. food growth is failing to materialize.
06:18 EDTTHSTreeHouse Foods upgraded to Buy from Hold at Stifel

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use