ConAgra Foods Inc (NYSE: CAG) announced on Tuesday that it agreed to buy Ralcorp Holdings Inc (NYSE: RAH) in all cash deal estimated at $4.95 billion. The deal will make ConAgra one of the largest packaged food companies in North America with estimated annual sales of $18 billion.
Continue reading ConAgra to Acquire Ralcorp Holdings (CAG, RAH)
America’s largest private health insurer, UnitedHealth Group (NYSE: UNH) said in its regulatory filing on Monday that it expects 2013 earnings to fall short of Street’s estimate due to weak business environment and looming threat of cuts in healthcare program.
Continue reading UnitedHealth Group Slashes Outlook on Fiscal 2013 Earnings (UNH)
Shares of Salesforce.com Inc. (NYSE: CRM), a provider of enterprise cloud computing and social enterprise solutions, are soaring in trading today. At last check, CRM shares were trading 8.49% higher at $158.29 on above average volume of 5.32 million. The stock hit an intra-day high of $158.29 in trading today.
Continue reading Major Gainers and Losers on November 21; CRM, STJ, SKX, SCHL
Farm and construction equipment maker Deere & Company (NYSE: DE) reported an increase in fourth-quarter profit. However, the company’s results missed Street estimates, sending shares down sharply in early trading today.
Chico’s FAS Inc. (NYSE: CHS), a specialty retailer of private branded, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items under brands names such as Chico’s, White House/Black Market and Soma Intimates, today reported its financial results for the third quarter ended October 27, 2012.
Shares of DSW Inc. (NYSE: DSW), a branded footwear and accessories specialty retailer, are soaring in early trading today. At last check, DSW shares were trading 9.50% higher at $68.21 on above average volume of 823,423. The stock hit a 52-week high of $69.35 today. DSW shares have gained nearly 17% in the last three trading sessions.
Continue reading Major Gainers and Losers in Early Trading on November 20; DSW, HPQ, CLNE, BBY
Shares of Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) rallied on Tuesday after the company announced that it will appoint a new Chief Executive Officer.
Continue reading Green Mountain Coffee Roasters Appoints New CEO (GMCR, SBUX, KO)
Shares of Cisco Systems Inc. (NASDAQ: CSCO) rose sharply in trading today after the network equipment maker announced that it would acquire privately held cloud computing company Meraki Inc. for approximately $1.2 billion in cash.
Shares of Lowe’s Companies Inc, (NYSE: LOW) rallied on Monday following the announcement of fiscal third-quarter results which saw profits climbing 76% thanks to better-than-expected revenue growth and cost cutting measures while fewer onetime charges also boosted the bottom line.
For the current quarter, world’s second largest home improvement chain in terms revenue is now expecting same-store-sales to grow by 1% compared to its earlier guidance of 0.5%.
In order to compete with more ferocity against its larger rival Home Depot Inc (NYSE: HD), Lowe’s has been reshaping its operations.
Lowe’s, which currently operates 1,750 stores across the United States, Canada and Mexico, is now focusing on ‘everyday-low-price strategy’ to pull in more customers to its stores; besides, it’s also evaluating its existing product line with vendors in order to improve its merchandising and simultaneously lower the unit costs. The ultimate objective for Lowe’s is to make online selling a flawless part of shopping experience.
Nevertheless, back in August the company’s executives did mention of miscalculating the time required by its vendor to respond to changing shopping habits.
Commenting over the results, Lowe’s Chief Executive, Robert Niblock said that Lowe’s was “keenly focused” in strengthening its core business. Niblock described third quarter results as “solid” and added that company’s performance with regard to implementing strategies was “improving”.
For the fiscal third quarter which ended November 2, the Company reported net profit of $396 million or 35 cents a share, up from $225 million or 18 cents a share, in the corresponding period of last year. For the recently concluded quarter, the company took onetime charge of 5 cents a share which was associated to one discontinued project, impairment of long-lived asset and alteration in the discount rate applied to self-insurance claims. In the year earlier quarter the Company took a onetime charge of 18 cents a share linked to store closures, discontinued projects and impairment charges against long-lived assets.
Net sales for the period soared 1.9% to $12.07 billion. Same-store-sales climbed 1.8%, for the third quarter.
Analysts polled by Thomson Reuters had most recently forecasted earnings of 35 cents on revenue of $11.92 billion.
In spite of 1.5% increase in input costs, gross margin showed improvement at 34.32 %, up from 34.06%, in the year earlier quarter.
Shares of Tyson Foods Inc. (NYSE: TSN), a meat protein and food production company engaged in the production, distribution and marketing of chicken, beef, pork, prepared foods and related allied products, are soaring in early trading today.