Oct. 9, 2014, 10:58 AM
- Consumer staples stocks continue to persevere amid a broad market decline.
- The Consumer Staples Select ETF (NYSEARCA:XLP) is +1.9% over the last 5 days vs. the -1.3% showing of the S&P 500 ETF.
- Today, PepsiCo (PEP +1.5%) is doing some of the heavy lifting following its Q3 earnings report - while a number of meat stocks are also contributing including Pilgrim's Pride (PPC +1.3%), ConAgra Foods (CAG +1.8%), Hormel (HRL +0.7%), Seneca Foods Corp. (SENEA +0.7%), Diamond Foods (DMND +1.1%), Tyson Foods (TSN), and Sanderson Farms (SAFM +0.7%) .
Sep. 24, 2014, 11:01 AM
- Food stocks are topping market averages as investors shift to a more defensive stance.
- The sector is also getting a look with grain, corn, meat, and rice prices moderating on improved global supplies.
- On the move: Post Holdings (NYSE:POST) +2.0%, Dean Foods (NYSE:DF) +1.0%, Sanderson Farms (NASDAQ:SAFM) +1.7%, Diamond Foods (NASDAQ:DMND) +1.5%, Flower Foods (NYSE:FLO) +1.3%, Hain Celestial (NASDAQ:HAIN) +1.6%, General Mills (NYSE:GIS) +0.7%, ConAgra (NYSE:CAG) +1.1%, Kraft Foods (NASDAQ:KRFT) +1.0%, Tyson Foods (NYSE:TSN) +1.5%, Seaboard (NYSEMKT:SEB) +2.7%.
Sep. 19, 2014, 8:45 AM
Sep. 18, 2014, 9:06 AM
Sep. 18, 2014, 7:47 AM| 2 Comments
Sep. 18, 2014, 7:32 AM
Sep. 17, 2014, 5:30 PM
Aug. 11, 2014, 7:59 AM
Aug. 8, 2014, 4:38 PM
- ConAgra Foods' (NYSE:CAG) long-time CEO Gary Rodkin is expected to retire in the next several months, and the company is in the early stages of reaching out to potential candidates to succeed him, according to a Reuters report.
- Rodkin, who has led CAG since 2005, has been under pressure from shareholders to fix problems resulting from the company's acquisition of Ralcorp in Jan. 2013.
- The purchase made CAG the biggest U.S. private-label food company, but the business of selling food under supermarket brands has struggled to reach promised profit targets, in part due to cut-price deals Ralcorp had struck with customers before it was taken over.
Jul. 15, 2014, 12:49 PM
Jul. 14, 2014, 7:46 AM| 2 Comments
Jul. 11, 2014, 9:54 AM
- Unilever's (UL -0.2%) sale of Slim Fast confirms the sluggish growth trends being seen by diet food brands.
- Healthy Choice (CAG), Lean Cuisine (NSRGY), Weight Watchers (WTW), and Jenny Craig have all struggled to keep up with expectations.
- What to watch: The push by consumers into healthier foods such as Greek yogurt has marginalized the concept of a "hard diet" based on self-denial. Analysts think the diet category could continue to suffer as a consequence.
Jun. 30, 2014, 12:42 PM| 1 Comment
Jun. 26, 2014, 12:19 PM
- ConAgra (CAG +0.5%) loses most of its early gains following in-line FQ4 results, after saying during its earnings call that it foresees FQ1 earnings slightly below year-ago levels, with FY 2015 profit growth skewed to H2.
- CAG says repaying debt will be a priority in the next year, and may consider raising dividend and buybacks after debt is repaid; it expects to have repaid ~$2B of debt by end of FY 2015.
- Shares remain mired near 52-week lows, and Bloomberg speculates that CAG could be the subject of increasing calls for a management shakeup or even a breakup as a way to unlock value; J.P. Morgan says CAG could sell some brands to help pay down debt because acquisition targets have been fetching valuations much higher than CAG’s amid this year’s surge in food deals.
Jun. 26, 2014, 8:15 AM
- ConAgra (CAG) +1.5% premarket after reporting FQ4 results that were in line with the company's recently lowered guidance; prior to CAG's pre-announcement, analyst consensus EPS estimate was $0.62.
- Consumer foods sales fell 7.4% to $1.78B due to weak volumes, while commercial foods grew 1% to $1.63B.
- Overall gross margin narrowed to 20.4% from 21.1%; input costs declined 2% to $3.53B.
- Expects FY 2015 EPS to reflect a mid-single-digit increase from 2014's $2.17; analysts were projecting a 6% rise.
- Says it plans to continue its $1/share annual dividend and expects to reduce debt by ~$1B in FY 2015.
Jun. 26, 2014, 7:32 AM
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