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Stock Market & Financial Investment News

News Breaks
June 25, 2014
11:36 EDTGIS, K, POST, PF, MDLZGeneral Mills falls after results miss expectations
Shares of branded food products maker General Mills (GIS) are falling after the company's fourth quarter results missed analysts' consensus estimates. It also forecast Q1 earnings per share below year ago levels. WHAT'S NEW: This morning, General Mills reported Q4 adjusted EPS of 67c and revenue of $4.28B, trailing analysts' consensus estimates of 72c and $4.42B, respectively. WHAT'S NOTABLE: The company forecast Q1 adjusted EPS below year ago levels, compared to consensus of 76c. For FY15, the company forecast adjusted EPS growth at a high single digit rate, versus consensus of $3.15. It sees FY15 net sales to grow at a mid single-digit range, compared to consensus of $18.65B. At current exchange rates, the company estimates a 3-cent headwind from currency translation in 2015 and FY15 adjusted gross margin is expected to be higher than FY14. The company is planning to increase cash returns to shareholders and is "anxious" to see renewed cereal category growth. It expects Yoplait to return to sales growth in 2015. PRICE ACTION: In late morning trading, General Mills fell $1.70, or about 3.2%, to $52 on heavy trading volume. Including today's pull back, the stock is up approximately 7.5% over the past 12 months. OTHERS TO WATCH: Other companies in the food products space include Kellogg (K), Post Holdings (POST), Mondelez (MDLZ) and Pinnacle Foods (PF).
News For GIS;K;POST;PF;MDLZ From The Last 14 Days
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August 31, 2014
13:44 EDTGISBarclays to hold a conference
Back-to-School Consumer Conference to be held in Boston on September 3-5.
August 20, 2014
06:27 EDTPOSTPost, Thai Union interested in Bumble Bee takeover, Reuters says
Bumble Bee Foods has drawn acquisition interest from both Thai Union Frozen Products and Post Holdings recently, according to Reuters, citing people familiar with the matter. The sources said that the company is anticipating to launch a sale process this coming autumn and has named an adviser to assist with the endeavor. Reference Link

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