Market News

Kraft Foods (KFT)

Kraft Foods is delivering more than 20 new foods and beverages in the first few months of the new year that boast trendy, restaurant-inspired flavors. And just in time for January's diet season, Kraft Foods also is adding several new portion-controlled options to its portfolio.
"We are focused on the consumer from the moment we first dream up a new product to the time it hits store shelves," explains John Li, Director, Culinary Center, Kraft Foods. "We start with a deep dive into consumers' eating habits and flavor preferences. It's part art and part science, but ultimately, our goal is to create the best and most flavorful products possible."

Dec 31 · 12:21:00 PM · Source: PR Newswire
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by Michael Oliveto

Walmart (WMT)

In the largest settlement for a wage-and-hour class-action lawsuit in Massachusetts history, Wal-Mart agreed to pay $40 to all employees who worked for Massachusetts Wal-Mart locations between August 1995 and the settlement date.
The 2001 class-action lawsuit claimed Wal-Mart did not allow workers to have rest and meal breaks, refused to pay overtime wages, and even manipulated employees' time cards to lower their pay. The settlement will pay 87,500 former and current Massachusetts employees and payment will be determined by how many years an employee worked there. The average employee will receive around $734. However, neither party is allowed to comment about the issue.

Dec 29 · 3:48:00 PM · Source: Lawyers and Settlements
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by Michael Oliveto

Procter & Gamble (PG)

Procter & Gamble has introduced its Ariel brand detergent powder in certain markets in the Southwest, targeting immigrants from Latin America.
Ariel USA is sold alongside other P&G detergents such as Tide, Cheer and Gain. But unlike those U.S. brands, Ariel is packaged in bags rather than in boxes. Mexicans are used to buying detergent in bags, a P&G spokeswoman said.

Dec 29 · 2:49:00 PM · Source: Business Courier
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by Michael Oliveto

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

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