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May 2- Kellogg Co and Hillshire Brands reported weaker-than-expected quarterly sales on Thursday, as budget-conscious U.S. consumers cut back on desserts, sending the food companies' shares lower. Hillshire, which owns Sara Lee frozen cakes, reported a better-than-expected profit and said 2013 earnings would be at the high end of its forecast.
Take a look at some of Thursday's midday movers:
May 2- Kellogg Co and Hillshire Brands reported quarterly results on Thursday in line or better than Wall Street estimates, but both food companies' shares fell in early trading.
*Exec says softness is US snack business could lead to flat operating profit.
Wall Street was set to open slightly higher Thursday as an interest rate cut from the European Central Bank and better-than-expected weekly jobless claims data in the U.S. boosted investors' appetite for risky assets. **GENERAL MOTORS CO, Wednesday close $30.18, up 4 pct premarket. **VISA INC, Wednesday close $166.02, up 3 pct premarket.
U.S. stock index futures climbed Thursday as Wall Street cheered a better-than-expected jobless claims report and after the European Central Bank cut its key interest rate.
NEW YORK, May 2- Kellogg Co:. *Shares down 1.7 percent in premarket trading after results. ( (New York Treasury Desk; Tel: 223 6300)).
May 2- Kellogg Co reported lower quarterly earnings on Thursday, hurt by higher ingredient costs, and said it was on track to meet its full-year goals.
**GENERAL MOTORS CO, Wednesday close $30.18, up 4 pct premarket. **SEAGATE TECHNOLOGY, Wednesday close $36.94, up 4 pct premarket. **FACEBOOK INC, Wednesday close $27.43, up 2 pct premarket.
*China, India PMIs show factory sector growth stumbling. NEW YORK, May 2- U.S. stock index futures rose on Thursday ahead of the European Central Bank's decision on interest rates and its assessment on the state of the euro zone's economy. *General Motors Co and Kellogg Co are expected to report results Thursday.
With reassurances that the Fed will keep on easing, markets turn their attention to the European Central Bank Thursday, hoping for a rate cut.
CHICAGO, May 01 Fitch Ratings has affirmed the following ratings for Kellogg Company and its subsidiaries:. Kellogg Canada, Inc-- Long-term IDR at' BBB+';. Kellogg's debt balance was $7.9 billion at year end 2012, up from $6 billion in 2011 due to the primarily debt financed $2.7 billion Pringles acquisition which closed in May 2012.
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April 30- Kinross Gold Corp:. *Kinross Gold Corp: TD Securities raises price target to $9 from $8;. Reuters Station users, click. 1568.
*Barrick Gold: Jefferies cuts price target to $30 from $45; rating. *Goldcorp: Jefferies cuts price target to $27 from $35; rating hold. *Kinross Gold: Jefferies cuts price target to $5.50 from $8.50;.
April 30- Kinross Gold Corp:. *Kinross Gold Corp: CIBC cuts price target to $8 from $10;. Reuters Station users, click. 1568.
April 30- Kinross Gold Corp:. Reuters Station users, click. 1568. Reuters Station users, click. 4899.
April 29- Kinross Gold Corp:. *NBF cuts price target to C $10.75 from C $11.25; rating outperform. Reuters Station users, click. 1568.
Investors should look past upcoming economic data, Joe Terranova says.
Germany's Bayer AG has agreed to buy the U.S. contraceptive devices maker for $1.1 billion, aiming to underpin its position as the world's largest women's healthcare provider. **SINA CORP, $59.74, up 19 pct** YAHOO INC, $24.72, up 0.3 pct.