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.
April 1, 2015
17:13 EDTMDLZKraft Foods does not see material adverse effect from CFTC complaint
Subscribe for More Information
March 30, 2015
07:19 EDTMDLZMondelez considering selling Philadelphia brand in Europe, Sunday Times says
Subscribe for More Information
05:53 EDTMDLZStocks with implied volatility movement; MDLZ EXC
Subscribe for More Information
March 27, 2015
13:31 EDTKKellogg CEO John Bryant elected to Macy's board of directors
Subscribe for More Information
March 26, 2015
07:53 EDTMDLZHeinz likely to close Kraft Illinois headquarters, NY Post says
Subscribe for More Information
07:08 EDTMDLZMondelez could become takeover target for Kraft Heinz, says RBC Capital
Subscribe for More Information
06:20 EDTMDLZKraft Foods shares worth $78 at deal closing, says Citigroup
Subscribe for More Information
March 25, 2015
10:43 EDTGIS, MDLZFood makers advance after Kraft, Heinz announce merger
Subscribe for More Information
09:31 EDTMDLZCarnival names Julia Brown Chief Procurement Officer
Carnival (CCL; CUK) named Julia Brown to the newly created role of Chief Procurement Officer overseeing strategic sourcing and supplier relationship management. Brown most recently served as CPO on the global management team at Mondelez (MDLZ).
08:25 EDTMDLZMondelez volatility flat into H.J. Heinz Company and Kraft Foods merger
Subscribe for More Information
08:22 EDTMDLZBuffett says has looked at 'all the companies' in Kraft's space
Buffett was answering a question posed by CNBC's Becky Quick regarding whether Campbell Soup (CPB), Mondelez (MDLZ) or others could be targets for Berkshire (BRK.A) following its Heinz and Kraft (KRFT) deals.
08:13 EDTMDLZKraft brands have a lot of potential to expand internationally, Buffett says
Subscribe for More Information
07:28 EDTMDLZOptions expected to be active
Subscribe for More Information
March 24, 2015
11:40 EDTPFMcCormick hits 52-week high after Q1 results top expectations
Shares of spices, seasonings and condiments maker McCormick & Company (MKC) are advancing after the company's first quarter results surpassed analysts' consensus estimates. WHAT'S NEW: This morning, McCormick reported Q1 adjusted earnings per share of 70c excluding a 15c impact of special charges on revenue of $1.01B, topping analysts' consensus estimates of 64c and $985.12M, respectively. McCormick's Q1 sales rose 2% from the year-ago period and in constant currency, the increase was 6%. Consumer business sales rose 5% in constant currency in Q1 due to increased volume and product mix driven by product innovation, brand marketing support and expanded distribution. Industrial business sales grew 7% in constant currency, with higher volume and product mix, as well as pricing actions. WHAT’S NOTABLE: Looking ahead, the company forecast fiscal year 2015 adjusted EPS of EPS $3.44-$3.51, below its prior view of $3.51-$3.58 given in January and analysts' estimates for FY15 of $3.53. The company continues to expect 4%-6% sales growth in constant currency for FY15. Based on year-to-date results and prevailing exchange rates, currency is now expected to lower this sales growth range by 5 percentage points, which is more than the previous projection of 3 percentage points. In constant currency, adjusted operating income is expected to grow 6%-7% from adjusted operating income of $608M in 2014. McCormick also raised its anticipated special charges for the year to $30M from $20M due to a higher response rate to its voluntary retirement program and additional actions in EMEA. McCormick is also targeting cost reductions of at least $85M in FY15, which are expected to help offset higher material costs. The company sees its Comprehensive Continuous Improvement program delivering at least $65M in 2015, and sees savings from reorganization actions of $20M. Chairman and Chief Executive Officer Alan Wilson commented that Q1 operating income was unfavorably impacted by several factors including special charges, unfavorable currency rates and higher material costs. Wilson said the company anticipates that these headwinds will continue in 2015, but expect the benefit of pricing actions and cost reduction efforts to build in the upcoming quarters. PRICE ACTION: In late morning trading, McCormick rose $2.90 or 3.96% to $76.10 on more than twice its average daily trading volume. The stock hit a fresh 52-week high of $77.79 earlier in the session. Including today's advance, the shares have gained nearly 13% over the past 12 months. OTHERS TO WATCH: Other companies in the food space include TreeHouse Foods (THS), down 0.8%, B&G Foods (BGS), up 1.2%, and Pinnacle Foods (PF), up 0.1%.
March 22, 2015
14:59 EDTPFPinnacle Foods enters bidding for meatless food company Quorn, Telegraph says
Subscribe for More Information

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