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Stock Market & Financial Investment News

News Breaks
March 14, 2014
10:48 EDTGIS, POST, KGeneral 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
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November 20, 2014
10:37 EDTKOptions with increasing implied volatility
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November 19, 2014
06:48 EDTGISGeneral Mills to remove '100% Natural' from Nature Valley products, WSJ says
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November 10, 2014
15:57 EDTGISWorldwide Business Research to hold a conference
ProcureCon for Digital & Marketing Services 2014 is being held in San Antonio on November 11-13.
10:04 EDTGISOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded at Oppenheimer... American Eagle (AEO) downgraded to Neutral from Buy at B. Riley... BP (BP) downgraded to Neutral from Overweight at JPMorgan... Callon Petroleum (CPE) downgraded to Neutral from Buy at SunTrust... EP Energy (EPE) downgraded to Hold from Buy at Deutsche Bank... Eaton Vance (EV) downgraded at Sterne Agee... Ecopetrol (EC) downgraded to Underperform from Sector Perform at RBC Capital... General Mills (GIS) downgraded to Sector Perform from Outperform at RBC Capital... Genworth (GNW) downgraded to Market Perform from Outperform at Keefe Bruyette... MasTec (MTZ) downgraded to Hold from Buy at BB&T... Ocean Rig UDW (ORIG) downgraded to Neutral from Buy at Guggenheim... Performant Financial (PFMT) downgraded at Morgan Stanley... Petrobras (PBR) downgraded to Market Perform from Outperform at Cowen... R.R. Donnelley (RRD) downgraded to Hold from Buy at Benchmark Co.... Rex Energy (REXX) downgraded to Market Perform from Outperform at BMO Capital... Salix (SLXP) downgraded to Neutral from Buy at Mizuho... Siemens (SIEGY) downgraded to Neutral from Overweight at JPMorgan... Solazyme (SZYM) downgraded to Equal Weight from Overweight at Morgan Stanley... Stonegate Mortgage (SGM) downgraded to Market Perform at FBR Capital... Syngenta (SYT) downgraded to Neutral from Overweight at HSBC... ViaSat (VSAT) downgraded to Hold from Buy at Needham... Vistaprint (VPRT) downgraded to Neutral from Buy at SunTrust... Walter Investment (WAC) downgraded at Sterne Agee... WesBanco (WSBC) downgraded to Market Perform from Outperform at Keefe Bruyette... Whiting USA Trust II (WHZ) downgraded to Underperform at Raymond James... Wipro (WIT) downgraded to Sell from Buy at UBS... XOMA (XOMA) downgraded to Neutral from Buy at Ladenburg... Yanzhou Coal (YZC) downgraded to Sell from Hold at Deutsche Bank.
07:41 EDTGISGeneral Mills downgraded at RBC Capital
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06:30 EDTGISGeneral Mills downgraded to Sector Perform from Outperform at RBC Capital
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