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Kellogg Company (K)

  • Tue, Mar. 3, 10:33 AM
    • Target (TGT -1.2%) plans to increase the focus on key grocery categories to bring in younger urban shoppers, reports the WSJ.
    • Sources say organic food, craft beer, yogurt, and coffee will all see an increase in prominence.
    • The shift could mean less shelf space for well-known brands from packaged food giants such as Kellogg (K -0.7%), Post Holdings (POST -1.7%), Campbell Soup (CPB -0.1%), and General Mills (GIS -0.5%).
  • Mon, Mar. 2, 7:54 AM
  • Fri, Feb. 20, 1:36 PM
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  • Thu, Feb. 12, 9:21 AM
    • Kellogg (NYSE:K) is getting punished in early trading for missing Q4 earnings estimates and setting 2015 guidance below expectations.
    • Weakness in Q4 was led by the U.S. Morning Foods segment (Special K, Raisin Bran, Rice Krispies, Apple Jacks, Froot Loops) which posted a 7.7% decline in comparable sales.
    • The long-term sales target from the company might be of the most concern to investors.
    • Kellogg is now calling for revenue growth of 1% to 3% vs. a prior target of 3% to 4%.
    • Operating profit is still expected to grow at a mid-single-digit rate over the long-term.
    • K -5.16% premarket to $62.88.
  • Thu, Feb. 12, 8:39 AM
    • Kellogg (NYSE:K): Q4 EPS of $0.84 misses by $0.09.
    • Revenue of $3.32B (-5.1% Y/Y) misses by $330M.
    • Shares -4.84% PM.
    • Press Release
  • Wed, Feb. 11, 5:30 PM
  • Wed, Jan. 21, 1:00 PM
    • Dish Networks (DISH -0.2%) won a significant court battle in L.A. against Fox Broadcasting over the company's Dish Anywhere app.
    • The ruling from a federal judge applied some of the principles from the Supreme Court's look at the Aereo case.
    • The opinion from the court indicated that watching content on mobile devices and tablets through Dish Anywhere doesn't qualify as a breach of copyright law.
    • The use of Dish's PrimeTime Anytime and AutoHop features were also deemed as fair use.
    • Many programmers seemed to have anticipated the legal decision and already negotiated with Dish to disable ad-skipping for a period of time after a show airs.
    • The ruling is sure to have been noticed on Madison Avenue where the largest (and smarter?) ad spenders continue to increase digital spending over broadcast/cable TV buys.
    • Big advertisers: MCD, PG, BUD, WMT, TGT, K, GIS, TM, GM.
    • Programmers: CBS, TWX, FOXA, SNI, AMCX, VIA , VIAB, DISCA.
  • Mon, Jan. 12, 10:45 AM
    • Citigroup downgrades a number of food stocks on its view higher consumer spending in the sector may already by priced into share prices.
    • Exposure to global markets also poses a risk due to currency swings and uneven demand, say analysts.
    • The investment firm takes the rating on ConAgra (CAG -1%), Mondelez International (MDLZ -0.8%), and Kellogg (K -0.9%) to Neutral from Buy.
    • McCormick & Company (MKC -0.8%), Kraft Foods Group (KRFT), and Campbell Soup (CPB) are all moved to Sell from Neutral.
  • Mon, Jan. 12, 3:23 AM
    • After private equity firm Abraaj pulled its offer for Bisco Misr on Dec. 31, the bidding period for the Egyptian biscuitmaker ended Sunday with Kellogg (NYSE:K) as the only suitor.
    • The bidding war between the two drove up the offer price by over 20%.
    • As of yesterday, shareholders controlling 86% of the company have agreed to sell their shares to Kellogg for a total of $125M.
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  • Dec. 31, 2014, 2:59 AM
    • The UAE's Abraaj Investment Management is pulling out of a bidding war with Kellogg (NYSE:K) for the Egypt's Bisco Misr.
    • Abraaj did not give a reason for its withdrawal from the bidding process, but said the orderly and transparent process had underlined growing investor interest in Egypt.
    • Kellogg was the last to place a bid for the snack maker, offering 89.86 EGP per share - for a total purchase price of $144M.
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  • Dec. 28, 2014, 11:01 AM
    • Egypt's financial regulator has extended the bidding period for Bisco Misr until Jan. 11, intensifying a $144M takeover battle between Kellogg (NYSE:K) and the UAE's Abraaj Investment Management.
    • Kellogg raised its bid for the Egyptian snack maker on Wednesday to 89.86 EGP per share following an earlier offer of 88.09 from Abraaj.
    • The battle has so far driven up the bid price by more than a fifth from Abraaj's opening gambit of 73.91 EGP/share.
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  • Dec. 18, 2014, 4:35 AM
    • In the next bidding battle for Bisco Misr, Kellogg (NYSE:K) has raised its bid to 86.36 EGP per share, topping a rival offer from the UAE's Abraaj Investment Management, which increased its previous offer by 2%.
    • Previously: Bisco Misr bidding war continues (Nov. 30 2014)
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  • Dec. 17, 2014, 9:29 AM
    • General Mills (NYSE:GIS) reported cereal demand fell off once again in FQ2.
    • The decline is in spite of efforts to introduce more on-trend brands (protein, gluten-free, low-calorie).
    • The company offset the cereal slump to a degree with gains in yogurt.
    • Yogurt sales grew in both the U.S. Retail and Convenience Store channels.
    • The shift by consumers from cereal to yogurt has also negatively impacted Kellogg (NYSE:K) and Post Holdings (NYSE:POST) - while benefiting Danone (OTCQX:DANOY) and Mueller-PepsiCo (NYSE:PEP).
    • Previously: General Mills earnings, highlights
  • Dec. 12, 2014, 10:47 AM
    • Kellogg (K -1.4%) says it's making an evaluation to see if it's operating the right number of ready-to-eat cereal manufacturing plants in the U.S.
    • A report from the Bakery, Confectionary, Tobacco, and Grain Millers Association made the claim earlier this week that Kellogg planned to close some U.S. facilities.
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  • Dec. 1, 2014, 10:16 AM
    • Kellogg (K -0.2%) has outbid P-E firm Abraaj in the race to land Bisco Misr, according to
    • The company upped its bid in a request sent to Egyptian regulators.
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  • Nov. 30, 2014, 9:23 AM
    • Intensifying a bidding war with the UAE's Abraaj Investment Management, Kellogg (NYSE:K) has raised its offer for Egyptian cake and biscuit maker Bisco Misr again.
    • The world's biggest breakfast cereal maker upped its bid to 82.2 EGP ($11.50) per share today, topping Abraaj's previous offer of 80.58 EGP ($11.27).
    • Earlier this month, Abraaj offered 73 EGP per share, which Kellogg countered last week with 79 EGP.
    • Previously: Bisco Misr bidding war heats up
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Company Description
Kellogg Co and its subsidiaries are involved in the manufacture and marketing of ready-to-eat cereal and convenience foods.