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Stock Market & Financial Investment News

News Breaks
February 5, 2013
08:36 EDTKKellogg sees FY13 EPS ex-integration costs $3.82-$3.91, consensus $3.69
Sees 12c-14c of integration costs. Including 2c impact from currency, sees FY13 EPS $3.70-$3.77. Comments from slides that will be presented on the Q4 earnings conference call.
News For K From The Last 14 Days
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February 18, 2015
09:14 EDTKKellogg says goal is to drive business into sustainable top line growth
Management stated that FY15 guidance is "pragmatic" and a step in the direction of growth. The company expects to return to growth in FY16 and beyond. Chief Growth Officer Paul Norman says the company needs to follow consumer trends and that the company needs to adapt to wellness trends. CFO Ron Dissinger stated that there is no change in the guidance provided last week and that Project K remains on track. Project K investments include innovation and renovation of food and packaging, geographic expansion, as well as channel expansion and growth. The company is aware that some consumers are looking for gluten-free options and the company has gluten-free products in its portfolio. Comments made during 2015 CAGNY Conference presentation.
February 17, 2015
07:15 EDTKConsumer Analyst Group of New York (CAGNY) to hold a conference
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February 13, 2015
10:00 EDTKOn The Fly: Analyst Downgrade Summary
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07:17 EDTKKellogg downgraded to Sell from Hold at Societe Generale
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February 12, 2015
16:57 EDTKOn The Fly: Closing Wrap
Stocks on Wall Street began the session in positive territory, thanks in part to the ceasefire brokered between Russia and Ukraine as well as the ongoing debt discussions between Greece and Eurozone leaders. Another contributor may have been oil prices, which continues to rally from their low point of a couple of weeks ago. The move in stocks was broad based, though the tech-heavy Nasdaq led the way with a gain of about 1%. ECONOMIC EVENTS: In the U.S., retail sales decreased 0.8% in January, versus expectations for a 0.4% decline. When autos and gas components are removed, the core reading was up 0.2%, versus expectations for an increase of 0.4%. Initial jobless claims rose 25K to 304K in the week ended January 7, versus expectations for 287K first-time claims. Business inventories edged up 0.1% in December, versus expectations for them to grow 0.2%. In Europe, Russian, Ukrainian, German and French leaders came to terms on a cease-fire to begin Sunday. In Greece, yesterday's Eurogroup meeting failed to reach a final bailout deal, but reports afterward seemed to have an optimistic tone about the continuation of talks. Sweden’s Riksbank became the latest central bank to cut interest rates and said it would undertake a program of sovereign bond buying. COMPANY NEWS: Shares of American Express (AXP) dropped $5.53, or 6.43%, to $80.48 after the company announced that its U.S. co-brand and merchant acceptance agreements with Costco (COST) are set to end in March of next year. Costco has been one of the few big U.S. merchants that to-date had accepted AmEx cards exclusively. American Express CEO Ken Chenault said in a call about the news that the company now expects that overall earnings growth in 2015 will likely be "flat to down modestly" year-over-year... Expedia (EXPE) rose $11.35, or 14.51%, to $89.57 after it agreed to acquire rival Orbitz Worldwide (OWW) for $12 per share. Orbitz shares surged $2.10, or 21.83%, to $11.72 after the deal was announced, while Priceline (PCLN), which be the last big global online travel agency left standing next to Expedia if the deal is approved, advanced $31.89, or 3.01%, to $1,091.95. MAJOR MOVERS: Among the notable gainers was TripAdvisor (TRIP), which rose $15.13, or 22.49%, to $82.40 amid the big deal in its industry and after its own fourth quarter revenue beat analysts' expectations. Also higher after its quarterly report was networking products giant Cisco Systems (CSCO), which rallied $2.53, or 9.39%, to $29.46. Among the noteworthy losers following their earnings reports were NetApp (NTAP), which fell $2.90, or 7.28%, to $36.90, and Kellogg (K), which dropped $3.00, or 4.52%, to $63.30. Also lower were shares of Tesla Motors (TSLA), which declined $9.92, or 4.66%, to $202.88 after the electric car maker unexpectedly reported losses for its fourth quarter, delivered fewer vehicles than expected and guided toward a significant increase in spending for the coming year. INDEXES: The Dow rose 110.24, or 0.62%, to 17,972.38, the Nasdaq gained 56.43, or 1.18%, to 4,857.61, and the S&P 500 advanced 19.95, or 0.96%, to 2,088.48.
09:50 EDTKKellogg expects Project K incremental savings of $90M-$100M in 2015
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09:50 EDTKKellogg sees Q1 EPS to account for a quarter of FY15 estimate, consensus $1.04
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09:49 EDTKKellogg expects challenging macroeconomic environment in 2015
Expects headwinds particularly in the devaluing of freoign currencies. Expects net deflation, following inflation in wages and benefits and incremental savings from Project K. Expects the company to stabilize in the topline for 2015. The company notes "it has more work to do", particularly in Snacks and Cereal business. Expects the impact of currency to be spread relatively evenly across the year. Comments taken from Q4 earnings conference call.
09:26 EDTKKellogg: Project K is on track
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09:26 EDTKKellogg sees FY15 comparable EPS $3.74-$3.82, consensus $4.01
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09:22 EDTKOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tripadvisor (TRIP), up 13.5%... Cisco Systems (CSCO), up 7.2%... FireEye (FEYE), up 7.7%... GNC (GNC), up 4.8%... NVIDIA (NVDA), up 5.5%... Whole Foods (WFM), up 2.5%. ALSO HIGHER: Orbitz Worldwide (OWW), up 21.6% after agreeing to be acquired by Expedia (EXPE). Expedia is up 11%... Ballard Power (BLDP), up 8.1% after being upgraded to Buy from Hold at Lake Street... Verastem (VSTM), up 4.7% after receiving orphan drug designation from FDA VS-5584 in mesothelioma. DOWN AFTER EARNINGS: Zulily (ZU), down 25.4%... Cabelas (CAB), down 9%... Cheesecake Factory (CAKE), down 5.9%.... Baidu (BIDU), down 4.8%... NetApp (NTAP), down 6.5%... Avon Products (AVP), down 3.6%... Tesla (TSLA), down 8.9%... Kellogg (K), down 5.1%... Amber Road (AMBR), down 16%. ALSO LOWER: Achillion Pharmaceuticals (ACHN), down 4.5% after 12M share Secondary priced at $10.25.
08:06 EDTKKellogg cuts long-term revenue growth of 1%-3% from 3%-4%
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08:05 EDTKKellogg sees FY15 comparable EPS 2% lower to unchanged, consensus $4.01
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08:04 EDTKKellogg reports Q4 North America net sales up 2.3%, comparable sales down 3.9%
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08:03 EDTKKellogg reports Q4 comparable net sales down 2.2%
08:03 EDTKKellogg reports Q4 EPS 84c, consensus 93c
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