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Stock Market & Financial Investment News

News Breaks
June 26, 2014
09:50 EDTCAGConAgra sees Consumer Foods' volumes getting sequentially better in FY15
says FY14 "not what we wanted." Says has started making changes to Healthy Choice, Chef Boyardee, Orville Redenbacher to improve performance, sees better overall performance on top and bottom line from this trio in FY15. Says has discontinued a number of Healthy Choice slow-moving SKUs, sees better volume performance for brand in Q2. Says eliminating easy open lid on Chef Boyardee cans "was a mistake." Expects profit to improve in Private Brands in FY15. Sees margins improving beginning in 2H. Says has begun closure of three plants as part of network optimization plan. Says profit performance for Private Brands will not be as strong as originally expected for the next several years. Sees upside coming from international foods business. Says has "rewired" organization to get sharper and faster in execution. Says should generate $300M by FY17 from the Ralcorp transaction. Regarding Ralcorp, says "We knew there would be work to do," but says "underestimated the degree of difficulty and the amount of time it would take." Says committed to saving $100M in SG&A costs by end of FY16, projects to be ahead of schedule in FY15. Comments made on the Q4 earnings conference call.
News For CAG From The Last 14 Days
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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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