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Stock Market & Financial Investment News

News Breaks
February 5, 2013
09:49 EDTKKellogg says expects continued cost inflation in 2013
Sees inflation approximately 5%, but sees cost savings at high end of 3%-4% range. Says inflation to be more front-end loaded, savings more back-end loaded. Says sees FY gross margin down approximately 50bps. Says has started to make changes that will increase margins of Pringles business over time. Says economic conditions remain difficult in Europe, but sees profit there in 2013. Says likely to repurchase shares to the extent of options proceeds to reduce dilution impact. Comments made on the Q4 earnings conference call.
News For K From The Last 14 Days
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January 15, 2015
05:35 EDTKKellogg completes acquisition of majority stake in Bisco Misr
Kellogg announced it has acquired a majority stake in Bisco Misr. This transaction advances Kellogg's global snacks business in growing emerging markets. Kellogg Company has agreed to pay EGP 89.86 per share for 85.93% of total outstanding Bisco Misr shares. Kellogg Company is financing the transaction with debt. Due to the size of Kellogg's percentage ownership, the company will consolidate Bisco Misr's results into its own.
January 12, 2015
10:34 EDTKFood makers slip as Citi highlights headwinds with downgrades in space
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10:00 EDTKOn The Fly: Analyst Downgrade Summary
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06:15 EDTKKellogg downgraded to Neutral from Buy at Citigroup
Citigroup downgraded Kellogg to Neutral and other names in the food manufacturing space citing high valuations, volume declines and risk to growth estimates for companies with exposure to Europe and Emerging Markets. Citi cut its price target for shares to $71 from $73.
05:33 EDTKKellogg to acquire majority stake in Bisco Misr Upon
Kellogg announced it expects to acquire an 85.93% stake in Bisco Misr based upon the number of shares tendered to the company through the Egyptian Stock Exchange as of the close of Kellogg's Mandatory Tender Offer yesterday. Kellogg's final bid offer is EGP 89.86 per share. The transfer of the shares will be completed within 5 Egyptian business days and no later than January 18.

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