Dec. 17, 2013, 2:08 AM
- Superior Court Judge James Kleinberg has tentatively ordered Sherwin-Williams (SHW), NL Industries (NL) and ConAgra Grocery Products (CAG) to pay $1.1B to replace or contain lead paint in millions of homes in California.
- However, Kleinberg dismissed the claims against two other defendants, BP (BP) unit Atlantic Richfield and DuPont (DD).
- The case was brought by 10 city and county governments in California, which argued that the lead is harmful to children. The substance has been banned in residential paint since 1978.
Dec. 11, 2013, 5:38 PM
Dec. 10, 2013, 1:31 PM
- Wheat prices could fall as world reserves are forecast to exceed previous expectations.
- Global inventories before the start of the 2014 harvests in the Northern Hemisphere will be 2.4% higher than a year ago.
- Wheat futures for delivery next spring touched their lowest level since June 2012 earlier today.
- Related stocks: General Mills (GIS), PepsiCo (PEP), Campbell Soup (CPB), Post Holdings (POST), ConAgra (CAG), Ralcorp (RAH), Flower Foods (FLO), and J.M. Smucker (SJM) could see a minor impact from sustained lower wheat prices. The pricing of the commodity also spills over to affect the costs for companies farther removed from the food industry - including Buffalo Wild Wings (BWLD) and Anheuser-Busch InBev (BUD).
- Related ETF: WEAT
Dec. 3, 2013, 10:33 AM
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
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