In this file:
· Conagra Shares Jump on Positive Earnings Guidance
· StockBeat - Conagra Feeds Investor Appetite, Reaffirming Outlook; Shares Rally
Conagra Shares Jump on Positive Earnings Guidance
Shares of the maker of Duncan Hines, Slim Jim, Birds Eye and other brands jump after the company reaffirms positive forward guidance.
M. Corey Goldman, TheStreet
Apr 10, 2019
Shares of Conagra Brands (CAG - Get Report) jumped more than 6% on Wednesday after the company reaffirmed its guidance to Wall Street analysts and investors, and said it expects to see positive growth and margin expansion.
In a presentation to investors filed with regulators, Conagra CEO Sean Connolly pointed to the success of the company's Lamb Weston spinoff, its integration of Pinnacle Foods, and the recalibration of several of its iconic brands including Reddi-wip, Orville Redenbacher, Slim Jim and Chef Boy-Ar-Dee as reasons behind the company's optimistic forecasts.
Pinnacle Foods oversees three key brands: Birds Eye, Duncan Hines and Wish Bone.
From a numbers perspective...
StockBeat - Conagra Feeds Investor Appetite, Reaffirming Outlook; Shares Rally
Apr 10, 2019
Investing.com - ConAgra soared on Wednesday after the food company reaffirmed its full-year guidance and said maintaining its dividend is a "top priority."
ConAgra Foods (NYSE:CAG), maker of food brands including Birds Eye, Reddi-wip and Slim Jim, maintained its guidance for earnings of between $2.03 and $2.08 per share and a net sales gain of 1%, sending its share price up 6.2%.
Like most food companies, ConAgra is grappling with rising ingredient costs, and its efforts to pass them on to shoppers have been thwarted by intense competition.
Most of the ConAgra's sales growth has been driven by acquisitions, so the company has focused squeezing out that little bit of extra growth by addressing executional challenges at some of its acquired businesses.
And its efforts are seemingly starting to take shape as the food company on Wednesday increased its value capture from synergies estimate to $285 million from $215 million.
Beyond the impact of rising costs, the integration of Pinnacle Foods...