- Food stocks are out of favor after ConAgra (CAG -3.9%) disappoints with its FQ1 report and General Mills (GIS -2.8%) is downgraded by Wells Fargo.
- A general theme is emerging out of the sector that consumers in the U.S. are trading down from higher prices.
- Decliners: Kraft Foods (KRFT) -2.8%, J.M. Smucker (SJM) -1.1%, TreeHouse Foods (THS) -2.6%, Pinnacle Foods (PF) -1.7%, B&G Foods (BGS) -1.0%.
- Related ETFs: PBJ
Food stocks look unappetizing to investors as higher prices don't stick
Sep 19 2013, 12:01 ET