New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 25, 2014
11:36 EDTMDLZ, K, PF, GIS, POSTGeneral 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
Sign up for a free trial to see the rest of the stories you've been missing.
January 30, 2015
10:35 EDTMDLZTubeMogul says Mondelez to be first to programmatically buy TV ads during game
Subscribe for More Information
January 29, 2015
10:00 EDTGISOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
07:56 EDTGISGeneral Mills downgraded at BMO Capital
Subscribe for More Information
06:05 EDTGISGeneral Mills downgraded to Market Perform from Outperform at BMO Capital
Subscribe for More Information
January 28, 2015
17:25 EDTPOSTPost Holdings 6.5M share Secondary priced at $47.50
Subscribe for More Information
08:01 EDTPFWayfair names Pinnacle Foods CEO Robert Gamgort to board of directors
Wayfair (W) announced the appointment of Robert James Gamgort to the companyís board of directors. Gamgort is CEO of Pinnacle Foods (PF).
January 26, 2015
16:39 EDTPOSTOn The Fly: Closing Wrap
Subscribe for More Information
12:23 EDTPOSTOn The Fly: Midday Wrap
Stocks on Wall Street opened lower and hit their session lows a short time after the opening bell rang. In addition to some jitters about a vote in Greece, investors were focused on the massive impending winter storm set to hit the Northeast. With weather pundits expecting the snowfall in feet rather than inches, a number of companies have already rescheduled their earnings announcements. The market was mixed at midday, with the Dow and Nasdaq a bit lower and the S&P up fractionally. ECONOMIC EVENTS: In the U.S., the Dallas Fed manufacturing index fell 8.5 points to -4.4 in January, versus the consensus forecast for a reading of 4.0. In Europe, Greece's far-left Syriza party swept to power, renewing concerns about the country's future as a member of the Eurozone. COMPANY NEWS: Today was a "merger Monday," with at least four deals worth more than $1B announced. Energy Transfer Partners (ETP) announced plans to acquire Regency Energy Partners (RGP) in an $18B unit-for-unit transaction that includes assuming $6.8B of net debt and other liabilities. Rock-Tenn (RKT) and MeadWestvaco (MWV) agreed to merge to create a consumer and corrugated packaging company with a combined equity value of $16B. Under the terms of the deal, the resulting ownership of the new company will be approximately 50.1% by MWV shareholders and 49.9% by RockTenn shareholders. AXIS Capital (AXS) and PartnerRe (PRE) announced a "merger of equals" that will create a specialty insurance and reinsurance company with total capital of more than $14B and cash and invested assets of more than $33B. Additionally, cereal maker Post Holdings (POST) agreed to pay $1.15B in cash and stock to buy privately-held MOM Brands, which makes Malt-O-Meal and other breakfast products. MAJOR MOVERS: Among the notable gainers was Universal Display (OLED), which gained 11% after the company announced the signing of a new OLED technology license agreement and material purchase pact with LG Display (LPL). Also higher was Ocwen Financial (OCN), which rose 17% after the California Department of Business Oversight announced a $2.5M settlement with Ocwen Loan Servicing on Friday evening over the firmís failure for more than a year to provide loan information needed by the DBO to assess compliance with state mortgage lending laws. Also of note, Ocwen denied any basis for default under trust agreements that had been alleged by certain hedge funds and other RMBS investors to trustees and master servicers in connection with 119 RMBS trusts, which are serviced by Ocwen. Among the noteworthy losers was Brookdale Senior Living (BKD), which dropped 8% after the company lowered its forecast for FY15 Cash From Facility Operations, citing a combination of lower than expected occupancy and certain higher-than-anticipated insurance reserve adjustments. Also lower following its earnings reports was hard disk-drive maker Seagate (STX), which fell about 9%. INDEXES: Near midday, the Dow was down 1.41, or 0.01%, to 17,671.19, the Nasdaq was down 4.02, or 0.08%, to 4,753.86, and the S&P 500 was up 2.34, or 0.11%, to 2,054.16.
12:05 EDTPOSTPost Holdings files to sell $240M of common stock
Subscribe for More Information
06:46 EDTPOSTPost Holdings to host conference call
Subscribe for More Information
06:14 EDTPOST MOM Brands CEO Chris Neugent to continue to lead brand
MOM Brands announced that it has entered into a definitive agreement for the sale of the company to Post Holdings in a transaction valued at approximately $1.15B. The transaction, which is subject to customary closing conditions, including regulatory approval, is expected to close by Q3. Upon closing, MOM Brands chairman and CEO Chris Neugent will continue to lead the MOM Brands business as president, reporting to Richard Koulouris, who is joining Post Holdings February 9 to lead the combined Post Foods and MOM Brands cereal business.
06:08 EDTPOSTPost Holdings sees MOM Brands acquisition immediately accretive
Subscribe for More Information
06:07 EDTPOSTPost Holdings sees FY15 adjusted EBITDa $540M-$580M
Subscribe for More Information
06:07 EDTPOSTPost Holdings reports preliminary Q1 sales $1.07B, consensus $1.07B
Reports preliminary Q1 EBITDA $126M-$128M. The company said each of Post's businesses performed consistent with Post management's expectations for the first fiscal quarter, except for Post Foods and Michael Foods which outperformed Post management's expectations. The above estimates include approximately three months of financial results from the Company's acquisition of the PowerBar and Musashi brands and related assets on October 1, 2014 and approximately two months of financial results from the Company's acquisition of American Blanching Company on November 1, 2014.
06:07 EDTPOSTPost Holdings to acquire MOM brands for $1.15B
Subscribe for More Information
06:04 EDTPOSTPost Holdings to acquire MOM brands for $1.15B

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use