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Stock Market & Financial Investment News

News Breaks
June 25, 2014
11:36 EDTPOST, MDLZ, K, PF, GISGeneral 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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July 5, 2015
13:07 EDTPOSTPost shares could climb higher, Barron's says
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July 2, 2015
13:13 EDTMDLZMondelez in discussions to sell Carte Noire, Reuters reports
Mondelez said it was in discussions with multiple parties to sell its French coffee brand Carte Noire to address European antitrust concerns after it closed a deal with D.E Master Blenders 1753, Reuters reports. Reference Link
07:25 EDTMDLZMondelez and D.E Master Blenders 1753 complete coffee business combination
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July 1, 2015
09:04 EDTGISGeneral Mills expects step up in cost savings in FY16
Says it is selectively reinvesting and expects to return to comparable growth this year. Says it is building the base for the long-term and will start seeing results this year. Cites Yoplait China as a way the company is building for the long-term.
08:45 EDTGISGeneral Mills expects Q1 to show strongest quarter in FY16
08:38 EDTGISGeneral Mills sees FY16 media expense to be down slightly
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07:10 EDTGISGeneral Mills sees FY16 adjusted EPS to grow at mid single digit range
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07:09 EDTGISGeneral Mills expect to expand Consumer First impact to generate growth
07:08 EDTGISGeneral Mills expects Project compass to generate $25M-$30M in savings in FY16
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07:07 EDTGISGeneral Mills reports Q4 US Retail sales up 5% to $2.5B
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07:05 EDTGISGeneral Mills reports Q4 adjusted EPS 75c, consensus 71c
Reports Q4 revenue $4.30B, consensus $4.53B
June 30, 2015
15:26 EDTGISNotable companies reporting before tomorrow's open
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14:52 EDTGISGeneral Mills technical notes before results
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10:50 EDTPOSTTreeHouse, Post rise after ConAgra plans exit from private brands
Two food companies, TreeHouse Foods (THS) and Post Holdings (POST), are trading higher after peer ConAgra (CAG) announced plans to exit its private brands operations. According to a Reuters report from earlier, KeyBanc Capital Markets analyst Akshay Jagdale mentioned in a note that TreeHouse and Post could be potential acquirers of the ConAgra division. Shares of Post Holdings rose 2.8% and Treehouse Foods advanced 9% in morning trading.
June 26, 2015
06:33 EDTGISMcDonald’s says child customers drinking less soda, eating more fruit
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June 25, 2015
09:37 EDTGISGeneral Mills expects to eliminate 675-725 positions in restructuring plan
In a regulatory filing, General Mills disclosed that it plans to eliminate 675-725 positions. In the first quarter, General Mills approved Project Compass, a restructuring plan designed to enable our International segment to accelerate long-term growth through increased organizational effectiveness and reduced administrative expense. In connection with this initiative, the company expects to eliminate approximately 675 to 725 positions. The company will record total restructuring charges of approximately $57M-$62M pre-tax, primarily reflecting one-time employee termination benefits, of which approximately $54M-$57M will be recorded in the first quarter of fiscal 2016. The company expects approximately $54M-$59M of the total expense will result in future cash expenditures. These restructuring actions are expected to be completed by early fiscal 2017. The company expects that these actions will generate annual cost savings of approximately $45M-$50M, with approximately $25M-$30M of cost savings being realized in fiscal 2016.
07:55 EDTGISGeneral Mills volatility low into Q4 and outlook
General Mills July and August option implied volatility is at 15; compared to its 52-week range of 12 to 23, suggesting non-directional price movement into the expected release of Q4 release on July 1.
June 23, 2015
08:03 EDTMDLZMondelez renews global strategic partnership with Facebook
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