Martinne's Feed
Aug 2, 2012

Clarity lifts Green Mountain shares, shorts take cover

By Martinne Geller and Melvin Backman

(Reuters) – Green Mountain Coffee Roasters Inc (GMCR.O: Quote, Profile, Research, Stock Buzz) shares jumped as much as 35 percent on Thursday after the company won back the confidence of some on Wall Street with a lower-than-expected earnings forecast that was seen as more realistic and reliable.

Late on Wednesday, the maker of Keurig coffee brewers and corresponding K-cup coffee refills reported better-than-expected quarterly earnings but cut its forecast for the full year for the second time. It also gave an earnings range for 2013 that was way below analysts’ estimates.

Aug 2, 2012

Kellogg stands by 2012 view despite corn price spike

By Martinne Geller

(Reuters) – Kellogg Co (K.N: Quote, Profile, Research, Stock Buzz) stood by its full-year earnings forecast on Thursday, even as the worst drought in 55 years pushed up corn prices, helping to send the cereal maker’s shares up 3 percent.

The company behind Corn Flakes, Eggo waffles and Keebler cookies also said its business was improving after two disappointing quarters.

Aug 2, 2012

Green Mountain offers tepid view but plans buybacks

By Martinne Geller

(Reuters) – Green Mountain Coffee Roasters Inc (GMCR.O: Quote, Profile, Research, Stock Buzz) beat quarterly profit forecasts but gave a disappointing outlook for the current quarter and upcoming year, as growth of its Keurig coffee cups business slows.

The company, whose stock has been hammered by questions about its business model and accounting practices, also said its board of directors authorized the repurchase of up to $500 million of its shares over the next two years.

Jul 30, 2012

ConAgra to buy Unilever’s North American frozen foods

July 30 (Reuters) – ConAgra Foods Inc struck a deal
to buy Unilever Plc’s North American frozen
meal business for $265 million, adding the premium Bertolli and
P.F. Chang’s brands to its frozen foods portfolio.

The deal, announced on Monday, will be ConAgra’s fifth
bolt-on acquisition in the past 12 months following its spurned
effort to buy Ralcorp Holdings last year.

Jul 30, 2012

Coke promotes execs in move seen as CEO succession step

July 30 (Reuters) – Coca-Cola Co announced a new
operating structure on Monday, dividing its global business into
three main units and giving two executives much larger roles in
a move seen as an early step on the road to CEO succession.

Chief Executive Muhtar Kent, 59, has held the top job at the
world’s largest soft-drink maker since April 2009.

Jul 27, 2012

Starbucks shares slide but keep premium price

By Martinne Geller

(Reuters) – Even after Starbucks Corp (SBUX.O: Quote, Profile, Research, Stock Buzz) suffered its biggest one-day stock loss in over 12 years on Friday, shares in the world’s largest coffee chain still commanded a premium to some peers due to growth prospects at home and abroad.

Starbucks lost over 11 percent of its value after it missed quarterly profit expectations and cut its outlook as visits to U.S. coffee shops slowed. That wiped out more than $4.4 billion of its market capitalization by Friday afternoon.

Jul 26, 2012

Mead Johnson lowers ’12 sales goal as China cools

July 26 (Reuters) – Mead Johnson Nutrition Co, maker
of Enfamil baby formula, trimmed its full-year sales target on
Thursday as growth in China cools.

In addition, the company left its 2012 profit forecast
unchanged despite a better-than-expected second quarter that was
helped by improvements in the United States.

Jul 25, 2012

PepsiCo keeps 2012 view as turnaround progresses

By Martinne Geller

(Reuters) – PepsiCo Inc (PEP.N: Quote, Profile, Research, Stock Buzz) reported a higher-than-expected quarterly profit on Wednesday, helped by price increases, and stood by its full-year outlook as the company makes progress on its turnaround.

That the maker of Diet Pepsi, Frito-Lay snacks and Tropicana orange juice did not cut its outlook was viewed as a sign of strength at a time when many consumer products companies are suffering from a weak global economy.

Jul 25, 2012

PepsiCo earnings top Wall Street view

By Martinne Geller

(Reuters) – PepsiCo Inc (PEP.N: Quote, Profile, Research, Stock Buzz) reported a higher-than-expected quarterly profit on Wednesday, helped by price increases, and stood by its full-year outlook.

That the maker of Diet Pepsi, Frito-Lay snacks and Tropicana orange juice did not cut its outlook was viewed as a sign of strength at a time when many consumer products companies are suffering from a weak global economy.

Jul 24, 2012

Campbell sees sales lower than long-term goal

CAMDEN, NEW JERSEY, July 24 (Reuters) – Campbell Soup Co’s
performance in the upcoming fiscal year will be below
its long-term targets as a turnaround takes longer than expected
amid a difficult operating environment.

The company said on Tuesday it plans to return to growth in
fiscal 2013, which starts on Aug. 1, but that it will not reach
its long-term targets, which call for sales growth of 3 percent
to 4 percent and earnings per share growth of 5 percent to 7
percent.