Feb 5 (Reuters) – Kellogg Co reported a narrower
quarterly loss on Tuesday, helped by its purchase of Pringles,
and stood by its full-year forecast as the world’s largest
cereal company aims to convince Wall Street that troubling
product recalls are behind it.
For Kellogg, 2012 was a transition year as it bought the
Pringles snack business and reinvested in operations following
several product recalls that shook investor confidence.
NEW YORK/WASHINGTON- (Reuters) – Herbalife Ltd (HLF.N: Quote, Profile, Research, Stock Buzz) shares were down 4.6 percent on Monday after a newspaper reported that the seller of weight loss products faces a law enforcement probe.
The New York Post report, which sent the shares down as much as 12 percent, stems from documents the paper obtained from the U.S. Federal Trade Commission. The documents, which have also been seen by Reuters, stem from a complaint to the agency from a person in Durango, Iowa.
NEW YORK/WASHINGTON- (Reuters) – Anheuser-Busch InBev SA (ABI.BR: Quote, Profile, Research, Stock Buzz), Grupo Modelo (GMODELOC.MX: Quote, Profile, Research, Stock Buzz) and Constellation Brands Inc (STZ.N: Quote, Profile, Research, Stock Buzz) are discussing ways to address U.S. regulators’ antitrust concerns over their mega-merger and expect to soon open settlement talks to avoid a trial, a source close to one of the companies said on Friday.
The U.S. Department of Justice said on Thursday it was suing to block AB InBev, the world’s biggest beer maker, from buying the half of Mexico’s Modelo it does not already own for $20.1 billion, saying the combination would hinder competition and lead to higher beer prices.
(Reuters) – Beam Inc (BEAM.N: Quote, Profile, Research, Stock Buzz) reported a smaller-than-expected decline in fourth-quarter earnings and gave an optimistic 2013 forecast as it benefits from strong demand for bourbon and growth in emerging markets.
On a net basis, the maker of Jim Beam, Maker’s Mark and Knob Creek bourbons said on Friday that earnings were $126.3 million, or 79 cents per share, in the fourth quarter. It earned $88.5 million, or 56 cents, a year earlier.
WASHINGTON/NEW YORK (Reuters) – The U.S. government has filed a lawsuit seeking to stop Anheuser-Busch InBev SA (ABI.BR: Quote, Profile, Research, Stock Buzz) from buying the half of Mexican brewer Grupo Modelo (GMODELOC.MX: Quote, Profile, Research, Stock Buzz) that it does not already own, saying the $20.1 billion deal could mean higher U.S. beer prices.
The government’s move calls into question the future of one of the biggest deals of 2012 and a related deal that was set to change the fortunes of the world’s largest wine company, Constellation Brands Inc (STZ.N: Quote, Profile, Research, Stock Buzz). Shares of all three companies fell sharply on the news.
WASHINGTON/NEW YORK, Jan 31 (Reuters) – The U.S. government
has filed a lawsuit seeking to stop Anheuser-Busch InBev SA
from buying the half of Mexican brewer Grupo Modelo
that it does not already own, saying the $20.1
billion deal could mean higher U.S. beer prices.
AB InBev said it will fight back in federal court, calling
the Justice Department’s decision to sue to stop the deal
“inconsistent with the law, the facts and the reality of the
(Reuters) – Mead Johnson Nutrition Co (MJN.N: Quote, Profile, Research, Stock Buzz) reported higher-than-expected quarterly profit and gave an outlook that was better than many analysts had feared, sending the company’s shares up 7 percent in premarket trade.
The maker of Enfamil baby formula, which gets a large portion of its revenue overseas, lost market share in China earlier in 2012 after it raised prices and a competitor offered aggressive promotions. Its North American business also struggled due to lower birth rates and a lingering impact from a contamination scare in late 2011.
(Reuters) – Johnson and Johnson (JNJ.N: Quote, Profile, Research, Stock Buzz) is looking to sell most of its U.S. feminine hygiene business, as it seeks to exit low-growth areas, but wants to keep its K-Y brand, said three people familiar with the process.
The diversified healthcare giant, whose products range from prescription drugs and medical devices to baby shampoo and mouthwash, wants to unload its Stayfree and Carefree pads and o.b. tampons, said the people, who declined to be identified as the matter is not public.
NEW YORK (Reuters) – Organix Hair Care, a maker of haircare products, is up for sale in a deal that could be worth $800 million or more, according to three sources familiar with the matter.
Organix’s owner, Florida-based haircare company Vogue International, is being advised by Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) on the potential sale, according to the sources, who declined to be identified since the talks are private.
NEW YORK (Reuters) – Private equity firms Apollo Global Management LLC (APO.N: Quote, Profile, Research, Stock Buzz) and C. Dean Metropoulos & Co are near a deal to buy snack cake brands including Hostess Twinkies and Donettes, two sources familiar with the matter said on Tuesday.
A deal for roughly $400 million, part of Hostess Brands Inc’s HTBRS.UL bankruptcy process, could be announced as soon as Tuesday, said one of the sources, who declined to be identified as the discussions are not public.