Martinne's Feed
Oct 22, 2012

Cerberus working on bid for Supervalu: sources

By Martinne Geller and Soyoung Kim and Olivia Oran

(Reuters) – Cerberus Capital Management is working on a takeover bid for troubled supermarket operator Supervalu Inc (SVU.N: Quote, Profile, Research, Stock Buzz) and has held talks with lenders to line up financing, according to three sources familiar with the matter.

Debtwire earlier reported that the private equity firm was pitching a handful of banks to arrange $4 billion to $5 billion in debt financing to back a bid, sending Supervalu’s shares up more than 40 percent on Monday.

Oct 22, 2012

Cerberus working on takeover bid for Supervalu: sources

By Martinne Geller and Soyoung Kim and Olivia Oran

(Reuters) – Cerberus Capital Management is working on a takeover bid for troubled supermarket operator Supervalu Inc (SVU.N: Quote, Profile, Research, Stock Buzz) and has held talks with lenders to line up financing, according to three sources familiar with the matter.

Debtwire earlier reported that the private equity firm was pitching a handful of banks to arrange $4 billion to $5 billion in debt financing to back a bid, sending Supervalu’s shares up 00 percent on Monday.

Oct 17, 2012

PepsiCo keeps 2012 outlook despite quarterly beat

By Martinne Geller

(Reuters) – PepsiCo Inc stood by its full-year forecast on Wednesday despite beating earnings expectations in the third quarter as it pours money back into its business.

The maker of Diet Pepsi, Frito-Lay snacks and Tropicana orange juice also reported weaker-than-expected revenue, hurt by the stronger U.S. dollar and the exit of certain businesses.

Oct 17, 2012

PepsiCo profit beats expectations, affirms 2012 outlook

By Martinne Geller

(Reuters) – PepsiCo Inc reported higher-than-expected quarterly earnings on Wednesday, despite weaker revenue caused in part by the stronger U.S. dollar and the exit of certain businesses.

The maker of Diet Pepsi, Frito-Lay snacks and Tropicana orange juice said third-quarter net income was $1.90 billion, or $1.21 per share, down from $2.00 billion, or $1.25 per share, a year earlier.

Oct 16, 2012

Coca-Cola’s revenue misses Wall Street expectations

By Martinne Geller

(Reuters) – Coca-Cola Co reported quarterly revenue that came in short of Wall Street expectations on Tuesday, hurt by declines in Europe and Asia where it sold more lower-priced drinks.

The world’s biggest soft-drink maker, with brands such as Sprite, Fanta and Minute Maid, also said revenue and profit were hurt by the stronger U.S. dollar, which reduces the value of overseas sales. Still, earnings were in line with analysts’ expectations and shares edged slightly lower in premarket trading.

Oct 12, 2012

Kraft to sell Maxwell House cups for Keurig

NEW YORK (Reuters) – Kraft Foods Group Inc (KRFT.O: Quote, Profile, Research, Stock Buzz) plans to sell Maxwell House and Gevalia single-serve coffee pods compatible with Keurig brewing systems, in another blow to Keurig parent Green Mountain Coffee Roasters Inc (GMCR.O: Quote, Profile, Research, Stock Buzz).

The pods are not licensed by Keurig or affiliated in any way, Kraft spokesman Basil Maglaris told Reuters. That means that Green Mountain will not receive any royalties from their sale.

Oct 11, 2012

Exclusive: Kraft to sell Maxwell House K-cups for Keurig

NEW YORK (Reuters) – Kraft Foods Group Inc (KRFT.O: Quote, Profile, Research, Stock Buzz) plans to sell Maxwell House and Gevalia K-cup single-serve coffee pods compatible with Keurig brewing systems, a spokesman said on Thursday, in another blow to Keurig parent Green Mountain Coffee Roasters Inc (GMCR.O: Quote, Profile, Research, Stock Buzz).

The pods are not licensed by Keurig or affiliated in any way, Kraft spokesman Basil Maglaris told Reuters. That means that Green Mountain will not receive any royalties from their sale.

Oct 8, 2012

Wal-Mart, Amex take on banks with low-priced debit card

NEW YORK, Oct 8 (Reuters) – Wal-Mart Stores Inc and
American Express Co are teaming up to offer a prepaid
debit card called Bluebird to target lower-income shoppers who
may not have bank accounts.

The move will give American Express, best known for its more
affluent cardholders, a 4,000-store gateway to tens of millions
of so-called “underbanked” households and the fees they will
generate as technology moves more of their transactions from
cash to digital payments.

Oct 8, 2012

Wal-Mart, Amex offer card for lower-income shoppers

NEW YORK (Reuters) – Wal-Mart Stores Inc and American Express Co are teaming up to offer a prepaid debit card called Bluebird to target lower-income shoppers who do not have bank accounts.

The Bluebird, which can be used anywhere that accepts American Express cards, not just at Walmart, is similar to a checking account, but without minimum balance requirements or monthly, annual or overdraft fees. It will accept payroll direct deposit, smartphone deposits, and will make mobile payments and person-to-person transfers.

Oct 4, 2012

Analysis: New single-serve coffee brewers pile pressure on Keurig

NEW YORK (Reuters) – A wave of new single-serve coffee brewers is coming to market in the United States, offering consumers more choices and stepping up pressure on market leader Keurig and its parent company, Green Mountain Coffee Roasters Inc (GMCR.O: Quote, Profile, Research, Stock Buzz).

This month, Bunn, maker of commercial beverage equipment, will launch a home version of its single-serve coffee machine. The machine, called MyCafe, will work with Keurig’s K-Cups, even though it is not licensed to do so.