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Food and Beverage Food Products

  • *Q2 sales $2.17 bln vs. est. *Q2 adj. profit 91 cents/ shr vs. est. "It's taking longer than we originally expected to regain carrot customers, following last year's quality and customer service issues," Chief Executive Denise Morrison said on a conference call on Friday.

  • Smucker's shares fell as much as 6 percent to $130.01 in morning trading on Friday. Green coffee prices are expected to rise through early 2017 as drought has hit coffee output from top grower Brazil for three straight years. "We think there is an opportunity as our contracts roll off to improve that dramatically," Steven Oakland, who heads, Smucker's coffee and U.S....

  • NEW YORK— Kraft Heinz is attempting to buy Unilever in a $143 billion deal that would join the U.S. maker of cheeses and lunch meats with the European producer of mayo, teas and seasonings in a global powerhouse. Unilever rejected the approach and called the price too low, while Kraft Heinz says it's still interested in a deal. Companies like Kraft Heinz, itself...

  • *Unilever says $50/ shr bid too low. LONDON, Feb 17- Unilever rejected a surprise $143 billion takeover bid from U.S. food company Kraft Heinz Co on Friday, saying it saw no reason to discuss a deal which it said had no financial or strategic merit. A combination of the two multinationals would be the third-biggest takeover in history and the biggest ever acquisition...

  • The company, which also sells Pepperidge Farm snacks, reported a 1.4 percent fall in net sales to $2.17 billion. Net income attributable to Campbell fell to $101 million, or 33 cents per share, in the quarter, from $265 million, or 85 cents per share, a year earlier. The company took a non-cash charge of $147 million to reduce the value of assets in its Bolthouse Farms'...

  • The company, which also sells Pepperidge Farm snacks, reported a 1.4 percent fall in net sales to $2.17 billion. Net income attributable to Campbell fell to $101 million, or 33 cents per share, in the quarter, from $265 million, or 85 cents per share, a year earlier. The company took a non-cash charge of $147 million to reduce the value of assets in its Bolthouse Farms'...

  • Kraft and Heinz products

    Jonathan Feeney, Consumer Edge Research, discusses the news of a potential takeover bid between Kraft Heinz and Unilever.

  • *Deal would be worth more than $125 billion. LONDON, Feb 17- U.S. food company Kraft Heinz Co has proposed a merger with $125 billion Unilever in what would be one of the biggest deals ever, but the Anglo-Dutch consumer goods company has declined, Kraft said on Friday. A deal with Unilever, which had a market value of $125 billion before its shares spiked, would add...

  • The company, which also sells Pepperidge Farm snacks, reported a 1.4 percent fall in net sales to $2.17 billion. Net income attributable to Campbell fell to $101 million, or 33 cents per share, in the quarter, from $265 million, or 85 cents per share, a year earlier. The company took a non-cash charge of $147 million to reduce the value of assets in its Bolthouse Farms'...

  • Green coffee prices are expected to rise through early 2017 on forecasts that demand will outstrip supply, as drought has hit coffee output from top grower Brazil for three straight years. The company's pet foods business, its biggest in terms of sales, has come under pressure from rivals Mars Petcare and Nestle's Purina, which are using promotions and...

  • Stocks to Watch: February 17, 2017

    Kraft Heinz, Unilever, Deere, and VF stocks are making headlines on Wall Street to wrap up the trading week.

  • LONDON, Feb 17- U.S. food company Kraft Heinz Co has proposed a merger with Unilever, but the Anglo-Dutch consumer goods company has declined, Kraft said on Friday. "Kraft confirms that it has made a comprehensive proposal to Unilever about combining the two groups to create a leading consumer goods company with a mission of long-term growth and sustainable...

  • LONDON, Feb 17- U.S. food company Kraft Heinz Co has proposed a merger with Unilever, but the Anglo-Dutch company has declined, Kraft said on Friday.

  • Smucker's pet foods business, its biggest in terms of sales, has also been hit by competition as rivals Mars Petcare and Nestle's Purina use promotions and discounts to lure customers. Smucker's net income fell to $134.6 million, or $1.16 per share, in the latest quarter from $185.3 million, or $1.55 per share, a year earlier. The company's net sales fell 5 percent to...

  • The company's net income fell to $134.6 million, or $1.16 per share, in the third quarter ended Jan. 31 from $185.3 million, or $1.55 per share, a year earlier. Smucker took a $75.7 million non-cash charge in the quarter related to certain trademarks within its pet foods business. Net sales fell 5 percent to $1.88 billion, their third straight decline.

  • Mexico buys nearly all its corn imports from the United States- shipments that totaled 13.603 million tonnes in the year ending Aug. 31, 2016. A grain buyer at a corn mill in Mexico told Reuters in an email on Thursday he had already asked for price quotes from Brazilian and Argentine exporters for corn shipments to Mexico. Mexico tends to import grain from South...

  • *Q4 adj profit of $0.08/ shr vs est. "We are guiding to a range of 2-3 percent for the next year, slightly lower than previous guidance of 3 percent," Chief Financial Officer Gunther Plosch said at Wendy's investor day. Chief Executive Todd Penegor said in August he was confident that Wendy's would grow at its long-term guidance of about 3 percent.

  • Kraft and Heinz products

    Kraft Heinz the maker of Velveeta cheese, Heinz ketchup and Oscar Mayer meats, reported a higher-than-expected adjusted profit, helped by lower costs.

  • VEVEY, Switzerland, Feb 16- Nestle's new chief executive scrapped the food company's long-standing sales target as it reported disappointing annual results on Thursday, echoing rivals by striking a cautious tone in an uncertain environment. CEO Mark Schneider, who joined Nestle only last month, forecast a return to "mid-single-digit" growth by 2020, which...

  • The company also set a new $150 million share repurchase program and raised its quarterly dividend to 7 cents per share from 6.5 cents. However, Wendy's net income fell to $28.9 million, or 11 cents per share, from $85.9 million, or 31 cents per share, a year earlier, due to a sharp decline in net investment income. Excluding items, the company earned 8 cents per share, 1...