Martinne's Feed
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.

Jul 23, 2012

Penney raises cash, unveils new shops

NEW YORK, July 23 (Reuters) – J.C. Penney Co Inc
said it raised $248 million by selling part of its stake in a
Simon Property Group Inc unit, the first step toward its
goal of shedding non-core assets.

Shares of the retailer, which also unveiled on Monday the
first three of its new in-store shops, were up 1 percent in
afternoon trade.

Jul 20, 2012

Grain prices set records, more searing heat in forecast

CHICAGO/NEW YORK, July 20 (Reuters) – Grain prices set
record highs on Friday and weather forecasts showed little to no
relief in sight from the worst U.S. drought in more than half a
century, feeding worries about food inflation at home and abroad
as supplies dwindle in the world’s largest grain exporter.

The United Nations’ Food and Agriculture Organization (FAO)
said it was concerned about the spike in grain prices, but it
did not yet see the current situation as a repeat of the
2007-2008 food crisis when high prices sparked riots in many
poor countries.

Jul 20, 2012

Exclusive: Republic Tobacco for sale, may get over $2 billion: sources

NEW YORK (Reuters) – Republic Tobacco, a privately held company that makes the Drum brand of loose tobacco in the United States, is seeking a buyer and could fetch more than $2 billion in a potential sale, according to people familiar with the matter.

The Illinois-based maker of tobacco and rolling papers has attracted interest mostly from private equity firms, said the three people, who declined to be identified because the process is not public.

Jul 19, 2012

Shoppers may be spared worst of corn price surge

NEW YORK (Reuters) – U.S. grain prices are soaring as the Midwest corn belt suffers its worst drought since 1956, but that doesn’t mean grocery bills are about to jump.

Easing costs of other commodities, hedging strategies aimed at keeping corn costs in line and fears of turning off consumers in a weak economy should all keep packaged food companies from hiking prices, at least in the short term.

Jul 19, 2012

Analysis: Shoppers may be spared worst of corn price surge

NEW YORK (Reuters) – U.S. grain prices are soaring as the Midwest corn belt suffers its worst drought since 1956, but that doesn’t mean grocery bills are about to jump.

Easing costs of other commodities, hedging strategies aimed at keeping corn costs in line and fears of turning off consumers in a weak economy should all keep packaged food companies from hiking prices, at least in the short term.

Jul 17, 2012

Coca-Cola’s global reach offset European weakness

By Martinne Geller

(Reuters) – Coca-Cola Co reported a higher-than-expected second quarter profit on Tuesday as rising consumption of its drinks in emerging markets offset declines in Europe.

But the world’s largest soft drink company, maker of Sprite, Minute Maid orange juice and vitamin water, said tough economic conditions were taking a toll, dampening the enthusiasm of investors, who sent the shares up nearly 3 percent in morning trading.

Jul 17, 2012

Coca-Cola global reach offset European weakness in second quarter

By Martinne Geller

(Reuters) – Coca-Cola Co (KO.N: Quote, Profile, Research) reported a higher-than-expected quarterly profit on Tuesday, as rising consumption of its drinks in emerging markets offset declines in Europe, sending its shares up more than 2 percent.

The world’s largest soft drink company, maker of Sprite, Minute Maid orange juice and vitaminwater, said second-quarter sales volume rose 4 percent, with North America growing 1 percent and international up 5 percent.