New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 14, 2014
10:48 EDTPOST, K, GISGeneral Mills shares drop after forecasting Q3 earnings miss
Shares of cereal and packaged foods maker General Mills (GIS) are lower this morning after the company provided third quarter guidance that missed expectations. WHAT'S NEW: General Mills forecast Q3 adjusted earnings per share of 61c-62c, which fell short of analysts’ consensus estimates of 68c. Sales and operating profit for the quarter will reflect approximately 1% lower volume, "consistent with recent food industry trends in developed markets, as well as negative foreign currency translation effects," the company said. General Mills also said results for the quarter would include increased marketing and merchandising investment in its U.S. yogurt business, "where response to-date has been encouraging." The company also said that operating profit for its U.S. Retail segment is expected at 10%-11% below year-ago results, which were up 13%. Total segment operating profit is also expected to be below last year’s level. WHAT'S NOTABLE: Despite missing estimates, the company backed its FY14 adjusted EPS view of $2.87-$2.90. The consensus forecast of analysts for FY14 EPS prior to the report was $2.88. General Mills also forecast "strong double-digit growth" in its fourth quarter adjusted EPS, when the expected rate of input cost inflation, the quarterly tax rate and the average number of shares outstanding will be "well below" prior-year levels. Analysts are expecting Q4 adjusted EPS of 66c. The company also predicts strong operating cash flow, earnings growth in 2014 and continued growth in fiscal year 2014. OTHER NEWS: General Mills announced an 8% dividend increase earlier this week to 41c per share, payable May 1 to shareholders of record on April 10. Including the new May quarterly payment, General Mills dividends per share in FY14 will total $1.55, up 17% from FY13. PRICE ACTION: General Mills is trading down $1.14, or 2.23%, to $49.88 in mid-morning trading. OTHERS TO WATCH: Shares of General Mills peer Kellogg (K) are down to $61.31, while another cereal maker, Post (POST), is virtually unchanged at $57.25.
News For GIS;K;POST From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
December 18, 2014
08:49 EDTGISGeneral Mills margins should rise over time, says BMO Capital
Subscribe for More Information
06:44 EDTKKellogg raises bid for Egyptian snack maker, topping rival, Reuters says
Subscribe for More Information
December 17, 2014
09:06 EDTGISGeneral Mills says 70% covered for input cost inflation
Subscribe for More Information
08:33 EDTGISGeneral Mills sees input cost inflation of 3% for FY15
Subscribe for More Information
07:15 EDTGISGeneral Mills backs FY15 adjusted EPS growth at low-single-digit rate
Subscribe for More Information
07:13 EDTGISGeneral Mills reports Q2 adjusted EPS 80c, consensus 77c
Subscribe for More Information
December 16, 2014
15:42 EDTGISNotable companies reporting before tomorrow's open
Subscribe for More Information
December 12, 2014
09:51 EDTGISGeneral Mills December volatility increases into Q2 and outlook
General Mills December call option implied volatility is at 25, January is at 17, April is at 15; compared to its 26-week average of 16 according to Track Data, suggesting larger near term price movement into the expected release of Q2 on December 18.
07:23 EDTKCredit Suisse to hold a conference
Subscribe for More Information
December 11, 2014
07:51 EDTKCredit Suisse to hold a conference
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