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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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October 22, 2014
10:18 EDTGISBoulder Brands tumbles after lowering profit outlook
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07:54 EDTMDLZMondelez added to U.S. Focus List at Credit Suisse
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October 21, 2014
10:00 EDTPOSTOn The Fly: Analyst Upgrade Summary
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06:04 EDTPOSTPost Holdings upgraded to Buy from Neutral at Goldman
Goldman upgraded Post Holdings to Buy due to compelling valuation, earnings power, cost cutting initiatives, and expectations for a resumption in M&A. Price target raised to $44 from $42.
October 19, 2014
13:03 EDTPOSTPost Holdings shares look attractive, Barron's says
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October 14, 2014
11:34 EDTPOSTMitsubishi Corp., Post, others vie for Bumble Bee, Bloomberg says
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October 13, 2014
17:24 EDTGISS&P announces changes to the S&P MidCap 400 and S&P SmallCap 600 indices
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07:15 EDTGISNational Association of Corporate Directors to hold a conference
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October 10, 2014
17:03 EDTPOSTPost Holdings names Jeff Zadoks CFO
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October 9, 2014
17:08 EDTPOSTPost Holdings to reorganize into three groups
Post is reorganizing around three distinct groups. Post's newly formed Consumer Brands Group includes the legacy Post Foods cereal operations as well as the recently acquired active nutrition businesses of Premier Nutrition Corporation, Dymatize Enterprises and the PowerBar and Musashi brands. James Holbrook has been named president and CEO of the Consumer Brands Group. The Michael Foods Group is now comprised of the Michael Foods' egg, cheese and potato businesses, which Post acquired in June, and Dakota Growers Pasta Company, acquired in January. It will be headed by James Dwyer, Jr. as president and CEO. Post's remaining businesses, consisting of Golden Boy Foods and Attune Foods, will comprise the Private Label Group. This Group will report directly to CEO Robert Vitale.
17:05 EDTPOSTPost Holdings names Robert Vitale CEO
Robert Vitale has been named Post Holdings' president and CEO. Vitale has served as Post's CFO since its formation in October 2011. William Stiritz, who has served as chairman and CEO since Post separated from Ralcorp Holdings in 2012, will continue with Post's executive team in the newly-created role of executive chairman. Terence Block, currently president and COO, has decided to retire from Post.
09:01 EDTMDLZMondelez appoints Brian Gladden as CFO
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05:33 EDTMDLZBurton's in talks to sell Cadbury license to Mondelez, Sky News reports
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