New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 16, 2013
10:53 EDTMJNMead Johnson falls after analyst cuts stock to Neutral
Pediatric nutrition company Mead Johnson (MJN) is retreating after Credit Suisse analyst Robert Moskow downgraded the stock to Neutral from Outperform in a note to investors earlier today. Moskow reduced his 2013 sales growth forecast for the company to 6.7% from 8%. According to the analyst, 0.6 percentage points of the cut was triggered by "lingering competitive intensity" in the Chinese pediatric nutrition market, and a slower than expected rollout of the company's products into new Chinese cities. Another percentage point of the estimate reduction was due to Mead Johnson's cancellation of a contract, the analyst wrote. Moreover, the company's new CEO has called 2013 a "reinvestment year," possibly indicating that the company is facing tough problems this year, according to Moskow, who expects the company to provide lower than expected 2013 earnings per share guidance. In mid-morning trading, Mead Johnson slid $1.90, or 2.74%, to $67.34.
News For MJN From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
January 15, 2015
10:37 EDTMJNKraft rises after Goldman gets less cautious on food space, ups stock to buy
Shares of Kraft Foods (KRFT) are climbing after Goldman Sachs upgraded the stock to Buy and placed the shares on its Conviction List. WHAT'S NEW: Costs for food makers are declining as commodity prices drop, Goldman Sachs analyst Judy Hong wrote in a note to investors today. Kraft is among the U.S. food companies that benefits the most from lower costs, the analyst stated. Additionally, Kraft's pricing power is one of the strongest in the group and it is heavily exposed to the U.S. economy, the analyst stated. WHAT'S NOTABLE: Hong's upgrade of Kraft was part of a note in which she took a more balanced view of the U.S. consumer staples sector. The analyst upgraded the Food sector to Neutral from Cautious, noting that consumer staples stocks with outsized exposure to the U.S. market should be boosted by strong U.S. growth and more favorable foreign exchange dynamics than their peers. In addition to Kraft, the analyst identified the following stocks as her top picks within the consumer staples sector: Monster Beverage (MNST), Constellation Brands (STZ), Coca-Cola Enterprises (CCE), Keurig Green Mountain (GMCR), Freshpet (FRPT), Mead Johnson (MJN), and Estee Lauder (EL). Goldman also upgraded Hershey (HSY), Dr. Pepper Snapple (DPS), and Clorox (CLX), all to Neutral from Sell, downgraded cigarette maker Philip Morris (PM) to Sell from Neutral and downgraded brewer Molson Coors (TAP) to Neutral from Buy. PRICE ACTION: In early trading, Kraft climbed 3.7% to $65 per share.

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