Pabst Brewing Co. sold to a Russian beverage firm after a century and a half of American ownership.» Read More
HONG KONG, Sept 19- Shares in China's largest auto rental company CAR Inc surged as much as 28 percent in their Hong Kong trading debut on Friday as investors scrambled for exposure to a market expected to almost double to $11 billion by 2018..
NEW YORK, Sept 18- Consumer staples stocks were edging higher heading into the latter stages of trading, as ConAgra shares climbed in the wake of its quarterly earnings.
Sept 18- ConAgra Foods Inc, the maker of Hunt's Ketchup and Chef's Boyardee pastas, on Thursday reported a higher-than-expected quarterly profit and said its consumer foods business was recovering. Net income rose to $484.5 million, or $1.12 per share, in the first quarter ended on Aug. 24 from $147.2 million, or 34 cents per share, a year earlier.
The Omaha, Nebraska company posted net income of $482.3 million, or $1.12. Earnings, adjusted for one-time gains and costs, came to 39 cents per share, or 4 cents better than Wall Street had expected, according to a poll of analysts by Zacks Investment Research.
Net income rose to $484.5 million, or $1.12 per share, from $147.2 million, or 34 cents per share, a year earlier.
*Cost cutting to help save $100 mln by 2014. Sept 17- General Mills Inc reported a lower-than-expected quarterly profit as the maker of Cheerios cereal and Betty Crocker cake mixes lost further ground to cheaper store-branded foods amid rising demand for alternative breakfast options.
*DuPont shares up 4 pct. Sept 17- Activist investor Nelson Peltz's Trian Fund Management LP urged DuPont to separate its high-growth businesses from the more cyclical ones, blaming the company's conglomerate structure for its "underperformance."
PITTSBURGH— The H.J. Heinz Co. will resume food production in Pittsburgh for the first time since 2002, when the ketchup giant sold its production plant to Del Monte Foods. The Pittsburgh Post-Gazette reports the baby food will be shipped to Canada.
Sept 17- General Mills Inc reported lower-than-expected quarterly profit and revenue as the maker of Cheerios cereal and Betty Crocker cake mixes lost further ground to cheaper store-branded foods amid rising demand for alternative breakfast options.
MINNEAPOLIS— General Mills, the food company behind Cheerios cereal and Yoplait yogurt, reported disappointing fiscal first-quarter results Wednesday and announced plans to cut costs further to fight falling sales. The Minneapolis company said it is reviewing its manufacturing and distribution network.
NEW YORK— The stock market got the reassurance it wanted from the Federal Reserve Wednesday. "The Fed is not going to take the punch bowl away," said Brad McMillan, chief investment officer for Commonwealth Financial. Major indexes drifted before the Fed released a statement at 2 p.m. Eastern time signaling little change in its interest rate policy.
MEMPHIS, Tenn.— Cargill will close its corn milling plant in Memphis, Tennessee early next year, citing its location outside of the corn belt and underutilization. The milling plant has about 440 workers, with 120 of those being contract employees. In July Cargill announced plans to close a Milwaukee beef-processing plant due to a cattle shortage.
DUBAI, Sept 16- The opening of Saudi Arabia's stock market to direct foreign investment early next year is set to coincide with a pick-up in earnings growth in the kingdom, which has lagged the region in the past few years.
FLAGSTAFF, Ariz.— A crew from Nestlé Purina is assessing damage from a grain-dust explosion that injured four contract workers at the company's plant in Flagstaff, Arizona. Company spokesman Keith Schopp says a crew from the St. Louis headquarters was on site Monday surveying the damage.
LONDON, Sept 14- A chance to buy the candy empire of Ukrainian President Petro Poroshenko is the kind of opportunity in a fast-growing market that would normally have multinational confectioners- like Nestle or Cadbury's parent Mondelez- drooling at the prospect.
Since the national network started in 2010, Slow Money networks and investment clubs around the country, including in Maine, Massachusetts, California, North Carolina, and in cities like Boston and New York, have made a total of $38 million in investments in 350 small food enterprises.
Goldman Sachs and Credit Suisse are the lead underwriters for the IPO, the New Jersey- based company said in a filing with the U.S. Securities and Exchange Commission on Friday. Freshpet's filing listed private equity firm MidOcean Partners LP and Tyson Foods Inc, the largest U.S. meat processor, as investors.
Discussing the improving trends in the restaurant industry, and the best stocks to own in the space, with Bob Derrington, Wunderlich Securities analyst.
FMHR traders Jon Najarian and Joe Terranova, debate how to play Darden Restaurants.
Sept 12- Olive Garden owner Darden Restaurants Inc on Friday reported a quarterly loss, but its results were overshadowed by activist investor Starboard Value LP's release of its revised plan to boost Darden's profit and stock price.