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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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March 26, 2015
10:07 EDTCAGConAgra says most of company 'on track', but disappointed with private brands
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07:40 EDTCAGConAgra reports private brands segment sales $1B, down 5% y/y
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07:35 EDTCAGConAgra says Sean Connolly to become CEO on April 6
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07:34 EDTCAGConAgra raises FY15 adjusted EPS view to $2.15-$2.19 from $2.13-$2.18
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07:32 EDTCAGConAgra reports Q3 adjusted EPS 59c, consensus 52c
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07:32 EDTCAGConAgra says expects to reduce debt by $1B in FY15
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March 25, 2015
15:34 EDTCAGNotable companies reporting before tomorrow's open
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12:29 EDTCAGConAgra April volatility elevated into Q3 and outlook
ConAgra April call option implied volatility is at 22, May is at 20, June is at 19, September is at 18; compared to its 26-week average of 19 according to Track Data, suggesting large April price movement into the expected release of Q3 results on March 26.

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