Martinne's Feed
Jul 3, 2013

Pepsi outside California still has chemical linked to cancer -report

July 3 (Reuters) – Pepsi-Cola is still using caramel
coloring containing a chemical linked to cancer in rodents, a
report released on Wednesday showed, more than a year after the
beverage maker promised to phase it out.

The Center for Environmental Health said that PepsiCo Inc.
lagged its rival Coca-Cola in removing the
chemical, called 4-methylimidazole, or 4-MI.

Jul 2, 2013

Constellation Brands misses Wall St forecasts, raises outlook

By Martinne Geller

(Reuters) – Constellation Brands Inc (STZ.N: Quote, Profile, Research, Stock Buzz), the world’s largest wine company, posted lower-than-expected quarterly earnings on Tuesday after higher grape costs hurt margins.

Yet the maker of Robert Mondavi and Ravenswood wines raised its forecast for the full fiscal year, saying more attractive financing terms for its recent beer acquisition should lead to lower interest expense.

Jun 27, 2013

ConAgra raises long-term outlook on greater deal savings

By Martinne Geller

(Reuters) – ConAgra Foods Inc (CAG.N: Quote, Profile, Research, Stock Buzz) on Thursday posted a quarterly profit slightly ahead of Wall Street estimates and raised its long-term outlook, citing increased cost-savings from its acquisition of Ralcorp Holdings.

ConAgra, whose shares rose 4.7 percent in early trading, closed its $5 billion purchase of Ralcorp in January, making it the leading U.S. manufacturer of “private label” foods, which retailers brand as their own. It also sells branded products, including Chef Boyardee pasta and Hunt’s ketchup.

Jun 26, 2013

Coke to sell ‘natural’ mid-calorie cola in Argentina

June 26 (Reuters) – Coca-Cola Co announced plans on
Wednesday to introduce a cola that is sweetened with sugar and
the naturally occurring, no-calorie sweetener stevia, the latest
move in the high-stakes race to turn around the soda industry.

Coca-Cola Life will have about half the calories of regular
Coke. It will go on sale this week in Argentina, where Coca-Cola
has 50 percent of the soda market, compared with PepsiCo Inc’s
16 percent, according to industry newsletter Beverage
Digest, which was first to report the news.

Jun 26, 2013

Coke to market first ‘natural’ mid-calorie cola

By Martinne Geller

(Reuters) – Coca-Cola Co (KO.N: Quote, Profile, Research, Stock Buzz) announced plans on Wednesday to sell a mid-calorie cola sweetened with sugar and the naturally occurring no-calorie sweetener stevia in Argentina, becoming the first to market with a product long seen as being critical to the soda industry’s growth.

The new product, Coca-Cola Life, will have half the calories of regular Coca-Cola.

Jun 26, 2013

General Mills earnings rise, outlook light; shares edge lower

June 26 (Reuters) – General Mills Inc reported
higher fourth quarter-earnings but gave a forecast for the new
fiscal year that was below Wall Street estimates, citing higher
costs for ingredients and a slow economic recovery.

Shares of the maker of Cheerios cereal, Progresso soup and
other packaged foods fell less than 1 percent in afternoon
trading.

Jun 23, 2013

Yogurt: the new Pepsi challenge

BATAVIA, NEW YORK, June 23 (Reuters) – PepsiCo Inc -
best known for Pepsi-Cola and Frito-Lay chips – is taking its
Muller yogurt brand nationwide expanding its portfolio of
healthier foods at a time that U.S. consumers are increasingly
shunning traditional soft drinks.

Yogurt is one of the fastest selling categories in grocery
stores, and PepsiCo sees plenty of room for growth even though
it has come late to the party.

Jun 17, 2013

Big investor urges Smithfield breakup over buyout

By Martinne Geller

(Reuters) – Starboard Value LP revealed a major stake in Smithfield Foods Inc on Monday and urged the world’s largest pork producer to explore a breakup rather than go ahead with a planned $4.7 billion takeover by Chinese meat company Shuanghui International.

The activist investor, now Smithfield’s (SFD.N: Quote, Profile, Research, Stock Buzz) biggest shareholder with a 5.7 percent stake, said Smithfield might be worth “well in excess” of the $34 per share offered by Shuanghui (1241.HK: Quote, Profile, Research, Stock Buzz) if it split into hog production, pork and international units and shopped the businesses separately.

May 21, 2013

Herbalife hires PwC as new auditor, shares up

By Martinne Geller

(Reuters) – Herbalife Ltd (HLF.N: Quote, Profile, Research, Stock Buzz) said on Tuesday it has engaged PricewaterhouseCoopers LLP PWC.UL as its auditor, replacing KPMG in the wake of alleged insider trading.

Shares of the nutritional products company rose 4 percent in afternoon trading, as the engagement of an auditor is often seen as lending credibility to a company’s financial statements.

May 20, 2013

Campbell Soup beats Street estimate, raises outlook

By Martinne Geller

(Reuters) – Campbell Soup Co (CPB.N: Quote, Profile, Research, Stock Buzz) reported higher-than-expected quarterly earnings and raised its full-year forecast on Monday on improved sales, sending its shares up 2.5 percent in premarket trading.

The world’s largest soup maker said net income rose to $181 million, or 57 cents per share, in the fiscal third quarter ended April 28, from $177 million, or 55 cents per share, a year earlier.