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May 8, 2013

Green Mountain posts higher profit, expands Starbucks partnership

May 8 (Reuters) – Green Mountain Coffee Roasters Inc
reported quarterly earnings on Wednesday that blew past
Wall Street estimates, and raised its full-year outlook, helped
by strong sales of its K-Cup packages.

The maker of Keurig single-serve brewers and the K-Cups that
go with them also said it had expanded an agreement with
Starbucks Corp, ending speculation that Starbucks might
walk away from their partnership following the expiration of
certain Green Mountain patents and the launch of Starbucks’ own
single-serve brewer.

May 8, 2013

Oreo maker Mondelez raises earnings outlook on tax benefit

May 7 (Reuters) – Packaged foods maker Mondelez
International Inc posted slightly better-than-expected
quarterly results on Tuesday and raised its full-year earnings
forecast due to a benefit from a tax item, but said it was
keeping some of that benefit in reserve to guard against future
market volatility.

Quarterly revenue beat Wall Street estimates for the first
time since Mondelez separated last year from Kraft Foods Group
Inc and took with it snacks like Oreo cookies and
Cadbury chocolate and the international business of Maxwell
House coffee.

May 7, 2013

Mondelez raises earnings outlook on tax benefit

By Martinne Geller

(Reuters) – Mondelez International Inc (MDLZ.O: Quote, Profile, Research, Stock Buzz) posted quarterly earnings on Tuesday that were slightly better than expected and raised its full-year earnings forecast due to a benefit from a tax item.

The newly independent maker of Cadbury chocolates and Oreo cookies said net income was $568 million, or 32 cents per share, in the first quarter. That was down from $813 million, or 46 cents per share, a year earlier, before the company separated from Kraft Foods Group Inc (KRFT.O: Quote, Profile, Research, Stock Buzz).

May 3, 2013

Constellation Brands sees no change in beer pricing plan

NEW YORK (Reuters) – Constellation Brands Inc (STZ.N: Quote, Profile, Research, Stock Buzz) has not yet decided whether to raise prices on beers like Corona Extra and Modelo Especial later this year, but its chief financial officer said the pricing strategy should be no different than before despite the change in ownership.

“We’ll see what happens with market share and commodity costs and all that kind of stuff. But we don’t really see a big change in the beer-pricing strategy from history,” CFO Robert Ryder told Reuters on Friday.

May 2, 2013

Maker’s Mark mistake fuels big Beam profit

By Martinne Geller

(Reuters) – A public relations disaster pumped up Beam Inc’s (BEAM.N: Quote, Profile, Research, Stock Buzz) first-quarter profit.

Sales of Maker’s Mark soared 44 percent after the company announced it would lower the alcohol content in its bourbon because of a limited supply of whiskey.

May 2, 2013

Kellogg, Hillshire sales light as Americans skip sweets

By Martinne Geller

(Reuters) – Kellogg Co (K.N: Quote, Profile, Research) and Hillshire Brands (HSH.N: Quote, Profile, Research) reported weaker-than-expected quarterly sales on Thursday, as budget-conscious U.S. consumers cut back on desserts, sending the food companies’ shares lower.

Kellogg, which makes Keebler cookies, posted a quarterly profit in line with estimates and stood by its full-year outlook. Hillshire, which owns Sara Lee frozen cakes, reported a better-than-expected profit and said 2013 earnings would be at the high end of its forecast.

May 2, 2013

Kellogg, Hillshire Brands results disappoint

May 2 (Reuters) – Kellogg Co and Hillshire Brands
reported quarterly results on Thursday in line or better
than Wall Street estimates, but both food companies’ shares fell
in early trading.

U.S. packaged food stocks have gained more than 21 percent
this year as investors look for defensive, high-yield
investments and hope for more deal-making following the buyout
of H.J. Heinz Co.

Apr 25, 2013

Starbucks raises outlook but shares fall

April 25 (Reuters) – Starbucks Corp reported higher
quarterly profit on Thursday that matched Wall Street estimates
and it raised its full-year earnings forecast.

The world’s biggest coffee chain cited increased sales in
the United States, its top market, despite an industry-wide
spending downturn in February due to a U.S. payroll tax increase
that lowered take-home pay.

Apr 25, 2013

Continental Grain heads toward Smithfield proxy fight

April 25 (Reuters) – Continental Grain Co, a large
shareholder in Smithfield Foods Inc, moved toward a
proxy fight with the meat company on Thursday, saying it will
seek shareholder support in connection with a turnaround plan it
says could lift Smithfield’s shares to $40 in three years.

In a presentation filed on Thursday with U.S. securities
regulators, Continental repeated its view that Smithfield should
split into three companies, use the proceeds to buy back shares,
restructure its business, and institute a dividend in line with
peers. It should also immediately add three new directors,
Continental Grain said.

Apr 18, 2013

PepsiCo first-quarter profit beats; stands by 2013 outlook

By Martinne Geller

(Reuters) – PepsiCo Inc (PEP.N: Quote, Profile, Research, Stock Buzz) posted better-than-expected quarterly earnings on Thursday, as price increases helped margins, but the company stood by its full-year forecast as it invests in its business.

The maker of Pepsi sodas, Tropicana juices, Frito-Lay snacks and Quaker oatmeal has been boosting its advertising and marketing and cutting costs to improve performance, especially in its North American beverage business, which was losing market share to rival Coca-Cola Co (KO.N: Quote, Profile, Research, Stock Buzz).