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Stock Market & Financial Investment News

News Breaks
November 28, 2012
08:28 EDTRAH, CAGConAgra price target raised to $31 from $27 at Bernstein
Bernstein increased its target on ConAgra (CAG) after the company agreed to acquire Ralcorp (RAH) ,to reflect the expected accretion from the deal. However, the firm is unsure about the long-term viability of running both private label and branded offerings under the same roof.
News For RAH;CAG From The Last 14 Days
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June 30, 2015
07:32 EDTCAGConAgra sees Q1 'unaffected by outcome' of Private Brands review
The company will offer details on full-year fiscal 2016 expected EPS, as well as long-term financial guidance, at an investor event likely to be scheduled for the fall of 2015. This event will be scheduled after the company completes its assessment of strategic alternatives for the Private Brands operations, and determines SG&A reduction targets and investment needs for the remainder of the company. With regard to first quarter of fiscal 2016, which the company expects to be unaffected by the outcome of the review of strategic alternatives for the Private Brands operations, the company expects EPS, adjusted for items impacting comparability, to be roughly in line with comparable year-ago amounts. With regard to plans for the rest of the company, the company’s new focus will be on: Productivity, notably within SG&A, but also in terms of supply chain and trade spending. The company sees significant margin potential through these initiatives. Driving profitable growth in the Consumer Foods segment and at Lamb Weston potato operations -- within the Commercial Foods segment. This will involve further portfolio segmentation, and investing behind the highest-potential categories in a disciplined manner. Investment may include marketing, infrastructure, innovation, and acquired businesses. The company expects some additional divestitures as it continues to refine the asset mix. Balanced capital allocation that includes growing the dividend over time, increasing share repurchases, and having an investment-grade balance sheet. Financial expectations and operating details regarding the above will be shared as part of the investor event later this year.
07:32 EDTCAGConAgra plans to exit Private Brands operations
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07:31 EDTCAGConAgra reports Q4 adjusted EPS 59c, consensus 59c
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June 29, 2015
13:56 EDTCAGConAgra technical comments ahead of earnings
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12:59 EDTCAGConAgra July volatility increases into Q4 and outlook
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06:36 EDTCAGConAgra CEO Connolly to discuss strategy at earnings conference call, WSJ says
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June 26, 2015
07:25 EDTCAGConAgra July volatility elevated into Q4 and outlook
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June 22, 2015
10:00 EDTCAGOn The Fly: Analyst Upgrade Summary
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07:38 EDTCAGConAgra upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded ConAgra to Overweight citing an attractive risk/reward profile following the activist stake by JANA Partners. The firm is confident the company will undergo changes, which it believes could include a breakup. It raised its price target for shares to $52 from $39.
June 19, 2015
16:24 EDTCAGStocks end week higher after Fed reassures on gradual pace of rate increases
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16:17 EDTCAGOn The Fly: Top stock stories for Friday
Stocks on Wall Street began the session in negative territory and remained there throughout the entire day. The economic calendar was quiet and the news flow was slow, leaving the averages to move in a narrow range until the final hour, when “quadruple witching” action kicked in and moved them a leg lower. The simultaneous expiration of futures and options can cause increased volatility, which occurred as the day’s volume was light. ECONOMIC EVENTS: In the U.S., Baker Hughes reported that the U.S. Rig Count declined 2 rigs from last week to 857. In Europe, the ECB agreed to raise the limit on Emergency Liquidity Assistance to Greek banks for the second time in a week, though there were contradictory reports about the size of the increase. Next, the eurozone's heads of government will meet for an emergency summit to discuss Greece on Monday. In Asia, China's Shanghai Composite index dropped 6.4%, bringing the benchmark's weekly loss to 13.3% and sending the index into correction territory. The Bank of Japan kept interest rates unchanged and maintained its asset purchases program, as expected. The BOJ also said it will reduce the number of policy meetings it holds each year to 8 from the current 14 meetings, putting it on par with other major central banks. COMPANY NEWS: Shares of ConAgra (CAG) advanced $4.31, or 11.02%, to $43.43 after activist investor Jana Partners reported that it has acquired a 7.2% stake in the packaged foods company. Jana suggested that the company should undertake a strategic review of its strategy and corporate structure to determine if its businesses are optimally positioned to succeed, as well as various potential alternative transactions and structures... Another food producer, Hershey (HSY), fell $3.38, or 3.66%, to $88.89 after lowering its outlook for this fiscal year. The chocolate maker said its North America confectionery business is on track to deliver on its 2015 financial objectives, but cited growth in China that was below expectations for its lowered outlook. Hershey also announced the implementation of a new productivity initiative that will result in the company cutting about 300 jobs by the end of this year. MAJOR MOVERS: Among the notable gainers following the activist involvement in ConAgra were a number of its peers, including Pinnacle Foods (PF), which rose 8.58% to $46.80, and Treehouse Foods (THS), which gained 4.86% to $75.55. Also higher was KB Home (KBH), which gained $1.41, or 9.43%, to $16.37 after the homebuilder reported better than expected results for its fiscal second quarter. Among the noteworthy losers was Healthways (HWAY), which sunk $3.13, or 20.15%, to $12.40 after the health management solutions provider lowered its revenue outlook for fiscal year 2015. Also lower were shares of Finisar (FNSR), which fell $2.27, or 10.25%, to $19.88 and were downgraded at Raymond James following the company's fourth quarter earnings report last night. INDEXES: The Dow dropped 101.56, or 0.56%, to 18,014.28, the Nasdaq fell 15.95, or 0.31%, to 5,117.00, and the S&P 500 lost 11.49, or 0.54%, to 2,109.75.
14:46 EDTCAGConAgra hits new 52-week high, up nearly 11% after JANA discloses 7.2% stake
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12:29 EDTCAGOn The Fly: Top stock stories at midday
Stocks began the session in quiet fashion and trading has remained that way throughout the morning, despite a lack of a resolution in Greece and a steep slide in China's stock market. The averages spent the morning in negative territory, but the losses have been mild and the indexes have drifted in a narrow range. Of note, today is “quadruple witching,” which can create extra volatility toward the close. ECONOMIC EVENTS: In the U.S., no major data was reported. The latest count of U.S. oil and gas rigs by Baker Hughes is scheduled for 1:00 pm EDT. In Europe, the ECB held a call on the provision of Emergency Liquidity Assistance to Greek banks and agreed to raise the limit on the emergency funding for the second time in a week, though there were contradictory reports about the size of the increase. Next, the eurozone's heads of government will meet for an emergency summit to discuss Greece on Monday. In Asia, China's Shanghai Composite index closed the session down 6.4%, bringing the benchmark's weekly loss to 13.3% and sending the index into correction territory. The Bank of Japan kept interest rates unchanged and maintained its asset purchases program, as expected. The central bank also said it will reduce the number of its Monetary Policy Meetings to 8 per year from the current 14 meetings, putting it on par with other major central banks. COMPANY NEWS: Shares of ConAgra (CAG) advanced over 8.5% after activist investor Jana Partners reported that it has acquired a 7.2% stake in the packaged foods company. Jana suggested that the company should undertake a strategic review of its strategy and corporate structure to determine if its businesses are optimally positioned to succeed, as well as various potential alternative transactions and structures. Credit Suisse raised its price target on ConAgra to $42 from $34 following the announcement of Jana Partners' involvement, but the firm said ConAgra's enormous debt load from the Ralcorp acquisition limits upside potential from an all-out break up and doubts the board would consider this option. Deutsche Bank similarly said that the firm's sense is that the company's board is reluctant to break up the company's parts. Nonetheless, Deutsche laid out its "optimistic" sum-of-the-parts analysis, which yields a $47 potential value for the stock. The firm, however, raised its price target for ConAgra shares to only $38 from $36 and kept a Hold rating on the name. MAJOR MOVERS: Among the notable gainers was AirMedia Group (AMCN), which gained 42% after announcing receipt of non-binding "going private" proposal for a group led by its CEO to acquire all of the outstanding shares of AirMedia for $6.00 in cash per American depositary share. Also higher was KB Home (KBH), which gained nearly 10% after the homebuilder reported better than expected results for its fiscal second quarter. Among the noteworthy losers was Healthways (HWAY), which sunk 22% after the health management solutions provider lowered its revenue outlook for fiscal year 2015. Also lower following a guidance cut was Hershey (HSY), which fell 4%. The chocolate maker cited growth in China that was below expectations for its lowered outlook and also announced the implementation of a new productivity initiative that will result in the reduction of approximately 300 jobs by the end of 2015. INDEXES: Near midday, the Dow was down 54.34, or 0.3%, to 18,061.50, the Nasdaq was down 15.23, or 0.3%, to 5,117.72, and the S&P 500 was down 6.64, or 0.31%, to 2,114.60.
10:19 EDTCAGHigh option volume stocks
High option volume stocks: FISV SID MTH MDXG BEAV INVE AMCN CAG OVAS MCHP
09:18 EDTCAGOn The Fly: Pre-market Movers
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08:08 EDTCAGConAgra July volatility elevated into Jana Partners disclosing a 7.2% stake
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07:20 EDTCAGConAgra board may be reluctant to a break-up, says Deutsche Bank
After JANA Partners reported an activist stake in ConAgra, Deutsche Bank says its sense is that the board is reluctant to breaking up the company's parts. Nonetheless, Deutsche laid out its "optimistic" sum-of-the-parts analysis, which yields a $47 target for the stock. This includes $27 for the Consumer division, $11 for Commercial, $6 for Private Brands and $3 for the Ardent joint venture. The firm raised its price target for ConAgra shares to $38 from $36 and keeps a Hold rating on the name
07:16 EDTCAGConAgra breakup unlikely, says Credit Suisse
Credit Suisse raised Neutral rated ConAgra's price target to $42 from $34 following the announcement of activist investor Jana Partners' 7.2% stake in the company. The firm said ConAgra's enormous debt load from the Ralcorp acquisition limits upside potential from an all-out break up and doubts the Board would consider this option. Credit Suisse believes the most logical recommendation would be to sell the struggling private label business to TreeHouse for $4B in a tax advantaged structure relieving management from the distraction of turning the business around.
06:46 EDTCAGConAgra price target raised to $44 from $37 at Bernstein
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05:55 EDTCAGStocks with implied volatility above IV index mean; THC CAG
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