(Reuters) – Green Mountain Coffee Roasters Inc (GMCR.O: Quote, Profile, Research, Stock Buzz), maker of Keurig single-serve brewers and K-Cups, raised its full-year earnings outlook on Wednesday after a better-than-expected second quarter and said it had expanded its relationship with Starbucks Corp (SBUX.O: Quote, Profile, Research, Stock Buzz), sending its shares up almost 16 percent after hours.
The new 5-year agreement, which replaces one first signed in 2011, triples the number of Starbucks drinks to be sold in K-Cups with the addition of Seattle’s Best and Torrefazione Italia coffees, Teavana teas and Starbucks cocoa.
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
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
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
(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).
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.
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.
(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 (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.
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.
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.