Kellogg Company (NYSE: K) has reported its financial results for the third quarter, posting net sales of $3.7 billion. The company’s net earnings for the quarter were $326 million, or $0.90 per share. Excluding one-time items, the company’s earnings for the quarter were $0.95 per share, representing an increase of 2.2% over the same period in the previous year. John Bryant, President and CEO of Kellogg, said that the company is excited by the potential and opportunities it sees for growth in the categories in which it operates. Bryant said that as a result of this, the company is making the difficult decisions necessary to address structural cost-saving opportunities which will enable it to increase investment in its core markets and in opportunities for future growth.
Month: November 2013
BlackBerry CEO To Leave as Company Abandons Plans to Sell Itself
Troubled smartphone maker BlackBerry Ltd. (NASDAQ: BBRY) said that it is abandoning its plan to find a buyer. Instead, the company is now looking to raise $1 billion in fresh funds by selling convertible notes to a group of investors, according to people with knowledge of the matter. The sources also said that the company will replace its CEO Thorsten Heins and certain directors. The report comes after Fairfax Financial Holdings Ltd., which had offered to acquire BlackBerry for $4.7 billion, walked away from the takeover plan.