GOLDEN VALLEY, Minn.— General Mills Inc. plans to eliminate 700 to 800 jobs as part of its cost-cutting plan to fight declining sales. General Mills says the job cuts will primarily be in the U.S. The Star Tribune says the job cuts are expected to be completed by spring and will save $125 million to $150 million annually.» Read More
Chef and restaurateur Bobby Flay weighs in on the state of the consumer and its exposure to his restaurants while food costs continue to rise. The "Closing Bell" panel provides perspective.
Vilsack, speaking to a roomful of farmers at an industry gathering in Iowa, said they must tell the U.S. Department of Agriculture about outbreaks of Porcine Epidemic Diarrhea virus effective immediately to help control the spread of the disease.
June 5- J.M. Smucker Co forecast full-year profit above estimates as sales increased in its domestic consumer food business- which includes peanut butter and cooking oils- and despite rising coffee costs. The company, which also makes Jif peanut butter and Crisco oils, forecast full-year adjusted earnings of $5.95- $6.05 per share.
Rising temperatures heading into the summer may be a factor, Paragon Economics President and National Pork Producers Council consultant Steve Meyer said at World Pork Expo 2014, as the virus tends to thrive under cold, damp conditions.
Hog farmer Dennis Gienger explains the best way to cook pork and discusses his new creation -- bacon-wrapped port tenderloin ... on a stick.
Pilgrim's Pride Corp sweetened its per-share bid on Tuesday to $55 from $45, beating Tyson Foods Inc's $50 offer. The revised $55 bid from Pilgrim's implies a valuation of 14.5 times EBITDA for a total value of $7.7 billion, Bernstein Research analyst Alexia Howard said in a note.
Thousands of pigs and their farmers are gathered at the World Pork Expo in Des Moines, Iowa. CNBC's Jane Wells reports pork production could be down as much as 6 percent this year according to one prediction because of a virus killing millions of pigs.
Thousands of pigs and their farmers are gathered at the World Pork Expo in Des Moines, Iowa. CNBC's Jane Wells reports on the outlook for hog farmers and consumers.
*Semiconductors rally; Skyworks lifts outlook. *CBOE VIX ends up but well below historical average. NEW YORK, June 3- U.S. stocks dipped in thin volume on Tuesday, with the Dow and the S&P 500 retreating from Monday's record closing levels as traders found few reasons to buy following a string of gains.
*Dow, S&P 500 ended at records on Monday. NEW YORK, June 3- U.S. stocks were little changed on Tuesday, with the Dow and the S&P 500 near Monday's record closing levels as traders found few reasons to buy following a string of gains, though a rise in semiconductor companies' shares limited losses. Google Inc shares fell 1.6 percent to $545.04 and weighed on the Nasdaq.
NEW YORK, June 3- U.S. stocks edged lower on Tuesday, with the Dow and the S&P 500 receding from Monday's record closing levels as traders found few reasons to buy following a string of gains, though a rise in semiconductor companies' shares limited losses. Slightly more than 60 percent of stocks traded on both the New York Stock Exchange and the Nasdaq fell on the day.
June 3- Pilgrim's Pride Corp, the second largest U.S. chicken processor, raised its offer for Hillshire Brands Co, escalating a bidding war with Tyson Foods Inc for the maker of Jimmy Dean sausages. Hillshire's shares rose 9 percent at $58.50 in premarket trading, after Pilgrim's Pride said it raised its offer to $55 per share in cash from $45.
CHICKASAW, Ohio, June 3- Swine veterinarian Bill Minton thought the baby pigs dying at a farm in western Ohio had a bad case of gastro-enteritis and was stumped when lab results came back with no indication of what had killed them. The U.S. Department of Agriculture still has no clear idea about how PEDv entered the United States.
SAN FRANCISCO, June 3- Business startup Zenefits has raised another $66.5 million from investors, months after its first capital-raising, following a pattern set previously by a handful of hot, young consumer companies that proved their worth to investors over a short span.
June 2- Pilgrim's Pride Corp is planning to raise its offer for Hillshire Brands Co a week after it first offered to buy the maker of Jimmy Dean Sausages in a $6.4 billion deal, the Wall Street Journal reported on Monday, citing people familiar with the matter.
JPMorgan Chase& Co, PepsiCo Inc, Cardinal Health Inc, Deere& Co and The United Services Automobile Association are among the Fortune 500 companies seeking chief information security officers and other security personnel to shore up their cyber defenses, according to people with knowledge of the matter.
May 29- Tyson Foods Inc has offered to buy Hillshire Brands Co for $6.3 billion, upstaging Pilgrim's Pride Corp' s offer for the sausage company earlier in the week, in a deal that would broaden Tyson's supermarket food offerings.
CNBC's Dominic Chu is outside CNBC's headquarters to explain the food fight happening for Hillshire Brands.
May 29- Tyson Foods Inc has offered to buy Hillshire Brands Co for $6.8 billion, upstaging Pilgrim's Pride Corp's $6.4- billion bid and signaling a high-stakes food fight for the seller of Hillshire sausages and Jimmy Dean sausages.
May 29- Meat processor Tyson Foods Inc offered to buy Hillshire Brands Co for $6.13 billion, trumping a bid from Pilgrim's Pride Corp, as it looks to expand into the fast-growing market for branded breakfast foods. Tyson offered $50 per share for the maker of Ball Park hotdogs and Jimmy Dean Sausages, $5 more than Pilgrim's bid.