Nov. 12, 2013, 3:49 PM
- The elevation of gluten as a dietary no-no continues to affect packaged food companies which have to convert products into gluten-free varieties at additional costs.
- Though less than 1% of Americans require a gluten-free diet due to medical reasons, almost a third of consumers make the choice to avoid the wheat additive.
- Related stocks: GIS, K, PEP, CPB, POST, CAG, FLO.
Nov. 12, 2013, 9:59 AM
- Margin worries at Dean Foods (DF -7.6%) is affecting sentiment over a number of other packaged foods companies in early trading.
- Though the company warned specifically on the dairy commodity environment, its drop in guidance on Q4 "challenges" looks a bit broader.
- Underperformers: KRFT -0.7%, SJM -1.0%, HAIN -1.0%, CAG -0.5%, CPB -1.0%, TSN -0.6%.
Nov. 4, 2013, 9:42 AM
- Kellogg's (K +2.6%) weak quarter doesn't paint a pretty picture for consumer staples companies highly-exposed to West markets, warn analysts.
- The company saw volume down in key categories such as cereal with higher prices not quite offsetting the drop.
- Despite the sluggish trend, Kellogg and its peer group are mainly trading higher after a large round of job cuts from Kellogg which should improve profitability.
- On watch: General Mills (GIS +0.4%), Campbell Soup (CPB +0.4%), ConAgra Foods (CAG -0.1%), Post Holdings (POST -0.5%).
- Related ETFs: XLP, VDC, FXG, RHS, PSL, PSCC, FSTA
Oct. 25, 2013, 12:57 PM
- McDonald's (MCD +0.1%) will stop buying ketchup from Heinz after watching ex-Burger King CEO Bernando Hees get tapped for the top job at the company.
- The change will affect McDonald's outlets in global markets more than the U.S.
- Presumably, Del Monte Foods and ConAgra (CAG +0.5%) could now be in the mix to supply McDonald's with ketchup.
Sep. 27, 2013, 6:25 AM
Sep. 23, 2013, 3:47 AM
- Lawyers for house-paint providers are due to make their final arguments today in a trial over whether the companies should have to remove lead paint from hundreds of thousands of homes in California, a requirement that could cost the firms up to $2.5B.
- The defendants are Sherwin-Williams (SHW) NL Industries (NL), ConAgra (CAG), DuPont (DD) and BP (BP) unit Atlantic-Richfield.
- The case has been brought by 10 city and county governments in California, which argue that the lead is harmful to children. Lead has been banned in residential paint since 1978.
Sep. 19, 2013, 12:01 PM
- 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
Sep. 19, 2013, 7:43 AM
- ConAgra (CAG) reports sales in its Consumer Foods group fell 1.8% to $1.996B on soft volume.
- Commercial Foods revenue dropped -0.4% to $1,264B. Results were impacted negatively when a large customer didn't renew a contract with Lamb Weston.
- The company expects 2014 EPS of $2.34-$2.38 vs. $2.35 consensus. (PR)
- CAG -0.2% premarket.
Sep. 19, 2013, 7:33 AM
Sep. 19, 2013, 12:05 AM
Sep. 18, 2013, 5:30 PM
Sep. 11, 2013, 6:50 AM| Comment!
Sep. 10, 2013, 9:32 AM
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Jul. 16, 2013, 1:50 PM
Jul. 10, 2013, 8:28 AMGlencore (GLCNF.PK, GLNCY.PK) reportedly is looking to sell its Dakota Growers Pasta business as it continues to divest assets acquired from its $6B purchase of Canadian grain handler Viterra last year. A deal for the third-largest U.S. pasta maker could fetch $300M-$400M; companies such as ConAgra (CAG) and Ebro Foods also may be interested. | Comment!
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