Market News

ConAgra Foods (CAG)

ConAgra Foods said Monday its net profit increased to $239.7 million, or 54 cents a share, in the fiscal second quarter that ended Nov. 29 from $168.1 million, or 37 cents a share, a year earlier. Total sales fell about 2.4 percent to $3.17 billion.
Earnings and sales topped analyst expectations.

Dec 21 · 1:36:00 PM · Source: Company News
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by Larry Etter

Treehouse Foods, Inc. (THS)

TreeHouse Foods Inc Monday said it had agreed to buy health food products maker Sturm Foods from private equity firm HM Capital Partners for $660 million.
The move will strengthen TreeHouse's private label presence in the hot cereal and powdered soft drink mix categories.

Dec 21 · 1:29:00 PM · Source: Company News Release
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by Larry Etter

Walgreen (WAG)

Walgreens Monday said it posted record earnings and sales for the fiscal first quarter of 2010. First quarter net earnings were $489 million, or 49 cents per share, a 19.6 percent increase from $408 million from 41 cents per diluted share a year ago. First quarter 2010 results include the impact of 3 cents per diluted share in restructuring and related costs associated with the company's Rewiring for Growth initiative. First quarter sales increased 9.5 percent from the prior-year quarter to $16.4 billion. Total sales in comparable stores (those open at least a year) increased 4.9 percent in the quarter, while front-end comparable store sales increased 2.7 percent.

Dec 21 · 1:23:00 PM · Source: Company News
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by Larry Etter

Chattem Inc. (CHTT)

French pharmaceuticals company Sanofi-Aventis Monday said it would acquire Chattem Inc. for $1.9 billion.
The move would step up Sanofi's presence in the consumer drug market, as Chattem, based in Tennessee, makes products like Icy Hot pain-relieving patches and gel and ACT mouthwash and posted revenues of $454.9 million in 2008.

Dec 21 · 1:19:00 PM · Source: Company News
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by Larry Etter

Procter & Gamble (PG)

P&G will buy Sara Lee's Ambi Pur air freshener brand for $470 million. Ambi Pur's air freshener products have a global reach of 80 countries. The company also has several toilet-care products with a strong hold in Western Europe and Asia.
"The acquisition of Ambi Pur strengthens P&G's global leadership in home care, and specifically air care, by extending our reach to serve more consumers in more parts of the world more completely," said David Taylor, P&G group president of global home care. "This acquisition brings the strong Ambi Pur brand equity and complementary geographic presence, particularly in Europe and Asia."

Dec 18 · 2:20:00 PM · Source: The Street
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by Rich Pike

Sysco (SYY)

FastCasual.com is reporting that Coleman Natural Foods, the country’s leading processor of fresh and prepared, natural and organic, free-range poultry, beef and pork products, has entered into an exclusive agreement with Sysco. The arrangement covers a variety of Coleman’s popular all natural and organic chicken and beef products, said John Bogert, Coleman’s chief operating officer. The products are targeted to fast-casual and casual dining establishments.

Dec 18 · 1:42:00 PM · Source: FastCasual.com
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by Rich Pike