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B&G Foods Disappoints - Reduces Guidance

B&G Foods (NYSE:BGS) reported results after the bell on Thursday that were below expectations and the market reacted by sending the stock lower after hours. On Friday the selling continued and the shares closed at $29.62, their lowest closing price since the end of March. It was a decline of 3.9% on a day when the market rallied sharply, and was down more than 21% from its all-time high reached last October.

Monday was more of the same, as the shares gave up another 2.3% closing at $28.94, it's lowest price since Valentine's Day. Not only were the results below expectations, but the company also reduced Adjusted EBITDA guidance from a range of $209.0 million to $214.0...

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