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Stock Market & Financial Investment News

News Breaks
March 10, 2014
09:30 EDTGIS, GISGeneral Mills downgraded to Underperform from Outperform at CLSA
CLSA downgraded General Mills due to consumer challenges, especially in developed markets, a shift away from processed foods, and increased competition. Price target lowered to $52 from $54.
News For GIS From The Last 14 Days
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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 22, 2015
09:20 EDTGISGeneral Mills Cereals to remove artificial flavors and colors
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June 16, 2015
09:22 EDTGISFDA gives food makers three years to remove partially hydrogenated oils
The FDA announced it has finalized its determination that partially hydrogenated oils, or PHOs, the primary dietary source of artificial trans fat in processed foods, are not “generally recognized as safe” or GRAS for use in human food. Food manufacturers will have three years to remove PHOs from products. In 2013, the FDA made a tentative determination that PHOs could no longer be considered GRAS and is finalizing that determination after considering public comments. The FDA has set a compliance period of three years. This will allow companies to either reformulate products without PHOs and/or petition the FDA to permit specific uses of PHOs. Following the compliance period, no PHOs can be added to human food unless they are otherwise approved by the FDA. Publicly traded food manufacturers include Mondelez (MDLZ), Kraft Foods (KRFT), General Mills (GIS), Hershey (HSY), PepsiCo (PEP), Kellogg (K), ConAgra (CAG) and Campbell Soup (CPB).

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