(Reuters) – Diamond Foods (DMND.O: Quote, Profile, Research, Stock Buzz) reported slightly better than expected adjusted profit for the first quarter on Monday, as reduced spending on promotions and advertising helped margins, and the snack food maker’s shares rose 1 percent in after-hours trade.
Diamond is trying to get past an accounting scandal that claimed the jobs of two top managers and caused its planned purchase of Pringles to fall apart. The scandal, involving improper accounting of payments to walnut farmers, also led to the restatement of financial results that wiped out $56.5 million in profit from fiscal 2010 and 2011.
NEWTOWN, Connecticut (Reuters) – Two days after a gunman opened fire in a Connecticut elementary school, killing 26 people, several dozen parents and kids gathered in a circle at Newtown’s public library to decide how to make the most of the town’s sudden, tragic notoriety.
After several hours of anguished discussion about gun control, and of the responsibilities of parents and community members to prevent more bloodshed, Newtown United was born.
, Dec 16 (Reuters) – Worshippers filled Sunday
services to mourn the victims of a gunman’s elementary school
rampage that killed 20 children and six adults with President
Barack Obama due to appear later at an interfaith vigil to help
this shattered Connecticut town recover.
Twenty-year-old gunman Adam Lanza shot his way into the
Sandy Hook Elementary School in Newtown on Friday morning,
firing away at students at staff with the civilian version of a
powerful military rifle. Victims were hit multiple times and at
least one was shot 11 times, authorities said.
NEW YORK (Reuters) – A large portion of American consumers now know about the “fiscal cliff” and a sizeable number of them expect the debate over it to curb their holiday spending, according to the chief executive of Wal-Mart Stores Inc.
In the week before last month’s U.S. presidential election, only 25 percent of its core U.S. shoppers knew what the term “fiscal cliff” meant, CEO Mike Duke told a gathering on Tuesday in New York.
NEW YORK, Dec 7 (Reuters) – Canadian vitamin maker Jamieson
Laboratories is in advanced talks to sell itself in a takeover
that is expected to be announced in the near future, a source
directly familiar with the matter said on Friday, continuing a
spate of deals in the nutrition industry.
It was not immediately clear how much the deal would be
worth or who the acquirer would be, but privately-held Jamieson
has annual revenue of about $250 million and earnings before
interest, tax, depreciation and amortization (EBITDA) of around
$30 million, said the source, who declined to be identified as
the talks are confidential.
NEW YORK, Dec 5 (Reuters) – Dukkah on your snack crackers?
Cajeta in your stir-fry? These international ingredients are
among the flavor trends that McCormick & Co Inc thinks
will be hot a few years from now.
According to its 2013 “Flavor Forecast,” the U.S. spice
company identified certain trends and flavor combinations it
thinks can have wide use for its customers, which range from
packaged food and beverage makers, to fast food and restaurant
chains and retailers.
(Reuters) – Coca-Cola Co (KO.N: Quote, Profile, Research, Stock Buzz) is taking an ownership stake in the maker of the Core Power protein drink as the world’s largest soft drink company increases its bet on milk-based beverages.
The move, announced by Coke on Tuesday, is the latest proof that the battle between Coke and PepsiCo Inc (PEP.N: Quote, Profile, Research, Stock Buzz) has expanded into the dairy arena, which has attracted soft drink makers looking to add nutritional drinks to their portfolios.
SYDNEY/NEW YORK, Dec 4 (Reuters) – U.S. agribusiness giant
Archer Daniels Midland Co tightened its grip on
GrainCorp Ltd, hiking its bid to $2.9 billion and
buying more shares, but may need to offer more to win over
Australia’s last major independent grains handler.
Australian grains, food and agricultural businesses have
been snapped up by large global players in recent years, part of
a global consolidation amid intense competition to feed
fast-developing countries seeking food security.
NEW YORK/TORONTO, Dec 3 (Reuters) – Saputo Inc will
buy Dean Foods Co’s Morningstar division for $1.45
billion to widen its product range and increase its U.S.
presence, the Canadian dairy products maker said on Monday.
The sale of Morningstar, which makes coffee creamers,
Friendship cottage cheese and other dairy products, will be a
big step in the breakup of Dean, which is spinning off another
business into WhiteWave Foods Co.
Nov 27 (Reuters) – Green Mountain Coffee Roasters Inc
forecast quarterly and full year earnings well ahead of
analysts expectations, helped by an expanded lineup of
single-serve coffee makers and drinks, sending its shares up 22
percent in after-hours trade.
Green Mountain, which makes the Keurig brewing system and
the K-Cups that go with it, is the leader in the
small-but-growing U.S. market for single-serve coffee, though
its shares have been targetted by short-sellers and at Tuesday’s
close were down 74 percent since September last year.