(Reuters) – Dean Foods Co (DF.N: Quote, Profile, Research, Stock Buzz) on Thursday reported a better-than-expected quarterly profit and raised its full-year outlook as strong sales of soy milk and other products offset declines in its fresh dairy business, sending its shares up nearly 3 percent.
Dean, which spun off part of its business last month into WhiteWave Foods Co (WWAV.N: Quote, Profile, Research, Stock Buzz) and is weighing a sale of its Morningstar unit, said that Chief Financial Officer Shaun Mara and General Counsel Steve Kemps will leave the company after the end of the year to pursue other opportunities.
(Reuters) – Green Mountain Coffee Roasters Inc (GMCR.O: Quote, Profile, Research, Stock Buzz) announced the launch of Keurig Rivo, its long-awaited, single-cup espresso machine, on Thursday, sending its shares up more than 2 percent.
The Rivo, developed in partnership with Italy’s Luigi Lavazza SpA, will be able to make cappuccinos and lattes at home and go head-to-head with the Verismo system, which Starbucks Corp (SBUX.O: Quote, Profile, Research, Stock Buzz) launched last month.
(Reuters) – Kraft Foods Group Inc (KRFT.O: Quote, Profile, Research, Stock Buzz) and Mondelez International Inc (MDLZ.O: Quote, Profile, Research, Stock Buzz) both stood by their full-year 2013 forecasts on Wednesday in their first earnings reports as standalone companies following last month’s breakup.
Kraft, home to brands like Oscar Mayer lunch meat and Maxwell House coffee, said it was working to better tailor its product portfolio to a weak economy in North America, the only region in which it now operates.
(Reuters) – Molson Coors Brewing Co (TAP.N: Quote, Profile, Research, Stock Buzz) warned on Wednesday that the current quarter would be the most challenging of the year, with higher costs, increased spending and weak economic conditions, and the beer maker’s shares fell 3.7 percent.
The share decline outpaced that of the wider market, which was down more than 2 percent a day after the re-election of President Barack Obama. Comments by the European Central Bank president weighed on market sentiment.
Nov 7 (Reuters) – Kraft Foods Group Inc stood by
its full-year outlook on Wednesday as it works to better tailor
its product portfolio to a weak economy in North America, the
only region the newly independent company now operates in.
Kraft was spun off last month from the maker of Cadbury
chocolates and Oreo cookies, which goes by the name of Mondelez
International. Unlike Mondelez, which gets some 45
percent of its sales from developing markets, Kraft is focused
on slower-growing North America.
NEW YORK/WASHINGTON (Reuters) – Some U.S. craft brewers are uneasy about plans by Anheuser-Busch InBev (ABI.BR: Quote, Profile, Research, Stock Buzz) to buy out Mexican beer maker Grupo Modelo (GMODELOC.MX: Quote, Profile, Research, Stock Buzz), fearing the giant’s increased power could make it harder for them to hitch a ride on delivery trucks to stores and pubs.
Brewers, as well as beer wholesalers and members of Congress, have been quietly taking this concern and others to the Justice Department, which is investigating whether the $20.1 billion deal complies with antitrust law. The department has given no sign of being ready to make a decision.
NEW YORK, Oct 31 (Reuters) – New York City commuters endured
hours-long bus trips and bumper-to-bumper traffic on Wednesday
as the city struggled to fix a crippled subway system and get
back to business in the wake of mega-storm Sandy.
Even with many people staying home for a third consecutive
day, New York-area commuters grappled with clogged streets. Some
bicycled to work. Some walked across the Brooklyn Bridge. Others
gave up altogether and turned back home after waiting in vain
for packed buses to take on more passengers.
NEW YORK, Oct 31 (Reuters) – Millions across the U.S.
Northeast stricken by massive storm Sandy will attempt to resume
their normal lives on Wednesday as companies, markets and
airports reopen despite grim projections of power and mass
transit outages around New York for several more days.
With six days to go before the Nov. 6 elections, President
Barack Obama will visit flood-ravaged areas of the New Jersey
shore, where the storm of historic proportions made landfall on
Monday. As his guide, he will have Republican Governor Chris
Christie, a vocal backer of presidential challenger Mitt Romney
who has nevertheless praised Obama and the federal response to
NEW YORK, Oct 30 (Reuters) – The northeastern United States
battled epic flood waters and lengthy power outages on Tuesday
after the massive storm Sandy pummeled the coast with a record
storm surge, high winds and heavy rains that killed at least 45
people and caused billion of dollars in losses.
Millions of people in New York City and other hard-hit areas
will spend days or weeks recovering from a storm already seen as
far more destructive that Hurricane Irene, which slammed into
the same region a year ago. One disaster
modeling company said Sandy may have caused up to $15 billion in
NEW YORK, Oct 30 (Reuters) – Millions of people faced epic
flooding and lengthy power outages on Tuesday after the massive
storm Sandy wreaked havoc in much of the eastern United States
with high winds and heavy rains.
The storm killed at least 45 people, including at least 18
in New York City, and insurance companies started to tally
billions of dollars in losses.