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Stock Market & Financial Investment News

News Breaks
February 19, 2013
10:08 EDTCAGConAgra says targeting $1.5B of debt repayment by the end of FY15
Through 2015, sees "very limited" share repurchases, acquisitions. Long-term, will resume focus on acquisitions and will utilize/balance share repurchases with other priorities. Says will upwardly revise long-term EPS, sales growth with the company's Q4 earnings release. Comments from slides that were presented at CAGNY 2013.
News For CAG From The Last 14 Days
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February 12, 2016
08:24 EDTCAGConAgra upgraded to Buy on value creation at BofA/Merrill
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06:48 EDTCAGConAgra upgraded to Buy from Neutral at BofA/Merrill
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February 1, 2016
16:09 EDTCAGConAgra sees $1.6B tax asset from sale of private label operations to TreeHouse
ConAgra Foods announced the completion of the sale of its private label operations to TreeHouse Foods for proceeds of $2.7B in cash, excluding transaction-related expenses and subject to post-closing adjustments. A total of approximately 9,500 employees transitioned to TreeHouse Foods, including plant employees and those supporting the private label business located at the St. Louis, Mo., Downers Grove, Ill., and Omaha, Neb., office locations. Certain private label operations with a strong connection to ConAgra Foods' existing Consumer Foods business were not part of the sale, specifically canned pasta, cooking spray, peanut butter, pudding/gels, Gelit frozen pasta product offerings, as well as the HK Anderson and Kangaroo brand equities, trademarks and business portfolios. Results for these operations, which were not material, were moved to the Consumer Foods reporting segment in Q1. ConAgra Foods generated approximately $2.7B in cash proceeds from the sale, less transaction expenses, and intends to utilize the net proceeds primarily for debt reduction. The company expects the transaction to result in a tax asset of approximately $1.6B, which can be used to offset potential future capital gains over the next five years.

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