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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
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February 27, 2015
07:53 EDTMDLZKraft, Mondelez, others give statements at CAGNY conference, The Deal says
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05:18 EDTMDLZMondelez agrees to sell interests in Japanese coffee JV to partner Ajinomoto
Mondelez announced that, as part of its ongoing efforts to further focus its portfolio on snacking products, it has reached an agreement to sell its 50% interest in Ajinomoto General Foods, or AGF, to its joint venture partner, Ajinomoto. AGF manufactures and sells instant, ground and liquid coffee products as well as other beverages in Japan under brands mainly licensed by Mondelez International, including Blendy and Maxim. Upon closing of the stock purchase agreement, Mondelez International will receive pre-tax cash proceeds of Y27B. The AGF transaction is scheduled to close by the end of April, subject to limited closing conditions. The stock purchase agreement with Ajinomoto will not have any impact on the proposed JDE transaction, which is expected to close later this year. In 2013, AGF generated more than Y100B in net revenue. It has 700 full-time employees and two factories in Gunma and Suzuka, Japan.
February 26, 2015
13:30 EDTPOSTEarnings Preview: Herbalife reporting after Soros, Post Holdings increase stakes
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07:27 EDTMDLZExecutives' Club of Chicago to hold a breakfast meeting
Chicago CEO Breakfast Meeting with Guest Speaker Irene Rosenfeld, Chairman & CEO, of Mondelez International, who discusses "Leading in Turbulent Times" is being held in Chicago on February 26 at 8:15 am.
February 25, 2015
09:03 EDTMDLZMondelez acquires Betabox start-up
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February 24, 2015
07:21 EDTPFPinnacle Foods sees FY15 adjusted EPS $1.86-$1.91, consensus $1.91
Sees FY15 input cost inflation estimated at 3%-3.5%; Sees FY15 productivity estimated at range of 3%-4%. Sees FY15 effective tax rate of 38%.
07:20 EDTPFPinnacle Foods reports Q4 Birds Eye Frozen sales up 4.9% to $317.4M
Reports Q4 Duncan Hines Grocery down 3% to $305.4M; Reports Q4 Specialty Foods sales down 10.3% to $82.6M.
07:20 EDTPFPinnacle Foods reports Q4 EPS excl items 64c, consensus 64c
Reports Q4 revenue $705.3M, consensus $718.35M. North America Retail net sales increased 0.9% to $622.7 million in Q4.
February 18, 2015
09:14 EDTKKellogg says goal is to drive business into sustainable top line growth
Management stated that FY15 guidance is "pragmatic" and a step in the direction of growth. The company expects to return to growth in FY16 and beyond. Chief Growth Officer Paul Norman says the company needs to follow consumer trends and that the company needs to adapt to wellness trends. CFO Ron Dissinger stated that there is no change in the guidance provided last week and that Project K remains on track. Project K investments include innovation and renovation of food and packaging, geographic expansion, as well as channel expansion and growth. The company is aware that some consumers are looking for gluten-free options and the company has gluten-free products in its portfolio. Comments made during 2015 CAGNY Conference presentation.
February 17, 2015
08:14 EDTMDLZMondelez backs FY15 adjusted EPS growth in double digits, consensus $1.75
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08:13 EDTMDLZMondelez says supply chain on track to deliver $3B in gross productivity savings
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08:12 EDTMDLZMondelez backs long-term target of double digit adjusted EPS growth
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07:15 EDTMDLZ, K, GISConsumer Analyst Group of New York (CAGNY) to hold a conference
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06:52 EDTGISGeneral Mills backs FY15 adjusted EPS view of low-single-digit growth rate
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February 16, 2015
12:19 EDTMDLZMondelez acquires Enjoy Life Foods, terms undisclosed
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