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Stock Market & Financial Investment News

News Breaks
May 29, 2014
14:18 EDTCAGConAgra, others complete formation of Ardent Mills JV
ConAgra disclosed in a filing that on May 29, ConAgra Foods and the other Owners completed the formation of the previously announced Ardent Mills joint venture. In connection with the closing of the Ardent Mills joint venture and the sale of three mills prior to the closing, ConAgra Foods received total cash consideration of approximately $570M which is subject to customary closing costs and working capital adjustments. ConAgra Foods also received a 44% interest in the Ardent Mills joint venture. As previously disclosed, ConAgra Foods plans to allocate the net cash proceeds primarily towards debt reduction. ConAgra Foods will comment on any other relevant financial details as part of the regularly scheduled fiscal fourth quarter earnings release, currently planned for June 26.
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October 14, 2014
13:46 EDTCAGConAgra reaffirms guidance, sees Q2 EPS in-line with year ago
ConAgra Foods said it expects to affirm its previously announced FY15 guidance of diluted earnings per share to show a mid-single digit rate of growth over comparable FY14 when meeting with investors today. It adds the remaining EPS growth in FY15 is expected to occur in the second half of the fiscal year. Comparable EPS for Q2 is expected to be in line with year-ago amounts given the "strong comparable EPS performance" in the second quarter of last year. The company reaffirms its operating cash flow, debt reduction, and dividend guidance.
11:25 EDTCAGCargill to distribute certain ConAgra foods in Brazil
Cargill and ConAgra Foods are pleased to announce a partnership to bring the Huntís line of condiments and ACT II microwave popcorn to Brazil. In the past three years the condiments market has grown 4.5% a year; the main product in this category is tomato ketchup, which accounts for about 93% of this market. In Brazil, the microwave popcorn market has considerable growth potential as a result of strong sales of microwave ovens to the countryís new middle class in recent decades.

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