Kraft Heinz is planning a break-up, according to a report, a move that could undo a massive merger just a decade old. https://t.co/Nk0TKR7Goq ...

Key Takeaways Ferrero will acquire KLG for $3.1B in cash, gaining control of its iconic cereal brands. The deal allows Ferrero to enter the breakfast category and expand its footprint in North America. KLG stock rose 30% on the news, with shares closing at $22.86 after outpacing its industry in three months.The Ferrero Group, a confectionery giant behind brands like Nutella and Kinder, is making a bold move to expand its North America footprint by acquiring WK Kellogg Co (KLG) for $3.1 billion. The all-ca ...

9 July 2025 | 10:43PM HKT China Consumer Staples Pork: 2Q25 preview: Stronger US hog production; China on track to grow; Buy WH Group For WH Group, we expect better cyclical recovery in its US hog production business, where our US team uplifted Smithfield (WH Group's US business, covered by Leah Jordan) full year profits forecasts beyond the company's higher-end of guidance (-$50mn to +$50mn). We expect China operations (also Shuanghui) to show a return to a growth trajectory from -14% yoy OP decline in 1Q2 ...

Core Viewpoint - Apple, Visa, and Mastercard achieved a legal victory in an antitrust lawsuit, with a federal judge dismissing the case due to insufficient evidence from the plaintiffs [2][3]. Group 1: Legal Proceedings - U.S. District Judge David Dugan ruled that the merchants did not provide adequate evidence to support their claims against Apple for not launching a competing payment network [2]. - The judge allowed the plaintiffs to amend their lawsuit to strengthen their claims, despite finding their initial allegations to be circumstantial [3]. - The defendants, Apple, Visa, and Mastercard, denied any wrongdoing and sought dismissal of the lawsuit [3]. Group 2: Allegations and Defense - The lawsuit, filed in 2023, accused Apple of conspiring with Visa and Mastercard to avoid competition, claiming that Visa and Mastercard paid Apple a significant portion of transaction fees for purchases made using Apple Pay [4]. - The plaintiffs alleged that these payments constituted a "very large and ongoing cash bribe" amounting to hundreds of millions of dollars annually [5]. - Apple contended that the complaint did not demonstrate any intention to enter the payments network market to compete with Visa or Mastercard [5]. Group 3: Industry Context - The ruling comes at a time when mobile wallets are increasingly influencing consumer in-store transactions globally, accounting for 21% of all in-store transactions, reflecting a 10.9% increase since 2022 [6].

Core Insights - Conagra Brands, Inc. (CAG) reported fourth-quarter fiscal 2025 results with both net sales and earnings falling short of the Zacks Consensus Estimate, experiencing year-over-year declines [1][11] Financial Performance - Adjusted earnings per share (EPS) were 56 cents, missing the estimate of 59 cents, and reflecting an 8.2% decline year over year [3][11] - Net sales totaled $2,781.8 million, down 4.3% year over year, also missing the estimate of $2,844 million, attributed to a decrease in organic net sales, adverse currency movements, and M&A impacts [3][11] - Organic net sales decreased by 3.5% year over year, driven by a 1% negative impact from price/mix and a 2.5% decline in volume due to softer consumption trends [4][11] - Adjusted gross profit fell 10.7% to $717 million, with adjusted gross margin contracting 184 basis points to 25.8% [5][11] - Adjusted EBITDA was $544 million, down 5.7% year over year [6] Segment Performance - Grocery & Snacks segment net sales were $1,150.2 million, down 2.1% year over year, with organic sales declining 3.3% [7] - Refrigerated & Frozen segment net sales decreased 4.4% year over year to $1,121.8 million, slightly beating estimates [8] - International segment net sales fell 13.8% year over year to $230.1 million, with organic sales increasing by 0.8% [9] - Foodservice segment reported sales of $279.7 million, down 4% year over year, but above estimates [10] Future Outlook - For fiscal 2026, Conagra expects organic net sales growth between -1% and 1%, with adjusted EPS forecasted between $1.70 and $1.85, down from $2.30 in fiscal 2025 [11][14] - The company plans to focus on snacks and frozen foods, supply-chain resilience, and cost discipline to drive sustainable growth [2][14] - Capital expenditures are projected to be around $450 million for fiscal 2026 [14] Financial Health - Conagra ended the quarter with cash and cash equivalents of $68 million and long-term debt of $6,234.1 million [12] - The company generated $1,691.9 million in net cash flows from operating activities, with free cash flow amounting to $1,302.6 million [12] - A quarterly dividend of 35 cents per share was declared, reflecting an annualized dividend of $1.40 [13]

Conagra Brands, Inc. (NYSE:CAG) Q4 2025 Earnings Q&A Conference Call July 10, 2025 9:30 AM ET Company Participants David S. Marberger - Executive VP & CFO Matthew Neisius - Senior Director of Investor Relations Sean M. Connolly - President, CEO & Director Conference Call Participants Andrew Lazar - Barclays Bank PLC, Research Division Bryan Andrew Adams - UBS Investment Bank, Research Division Christopher Michael Carey - Wells Fargo Securities, LLC, Research Division David Sterling Palmer - Evercore ISI Ins ...

Conagra Brands, Inc. (NYSE:CAG) Q4 2025 Pre-recorded Remarks Conference Call July 10, 2025 8:30 AM ET Company Participants David S. Marberger - Executive VP & CFO Matthew Neisius - Senior Director of Investor Relations Sean M. Connolly - President, CEO & Director Matthew Neisius Good morning. Thank you for listening to our prepared remarks for the Conagra Brands Fourth Quarter Fiscal 2025 Earnings. At 9:30 Eastern this morning, we'll hold a separate live question-and-answer session on today's results, which ...

Economic Indicators - Initial Jobless Claims decreased for the fourth consecutive week to 227K, down from a near-term high of 250K four weeks ago, marking the lowest level since May 17th [2] - Continuing Claims increased to 1.965 million from a revised 1.955 million, the highest since November 2021, with four of the last five weeks above 1.95 million [3][4] Company Earnings - Delta Air Lines (DAL) reported Q2 earnings of $2.10 per share, beating expectations by 9 cents, although down from $2.36 per share a year ago, with revenues of $16.6 billion, slightly above the expected $16.01 billion [5][6] - Delta raised its earnings guidance for Q3 to a range of $1.25-1.75 per share and for the full fiscal year to $5.25-6.25 per share, exceeding analysts' projections [6] - Conagra (CAG) missed fiscal Q4 earnings expectations, reporting 56 cents per share versus the expected 59 cents, with revenues of $2.78 billion below the anticipated $2.84 billion, leading to an 8% drop in shares [7]

Thursday, July 10, 2025Pre-market futures are flat this morning, again without much direction from outside influences. We’ve passed the 90-day tariff “deadline” with no ramifications; in fact, major indexes were up across the board, from a half of one percent to +1%. Currently, the Dow is -33 points, the S&P 500 is 0.0, the Nasdaq +13 points and the small-cap Russell 2000 +3.Jobless Claims Moderate on Initial Side: 227KWelcome news this Thursday morning are Weekly Jobless Claims levels, where Initial Jobles ...

Financial Data and Key Metrics Changes - The company reported a cumulative increase of over $2 billion in total delivered costs due to sustained inflation over six consecutive years, starting from the second half of fiscal 2021 [8][10] - Fiscal 2026 is expected to see an additional 11% cost increase due to inflation, leading to temporary margin compression [10][11] - The company anticipates a return to margin expansion in the future, particularly in the frozen segment, driven by productivity improvements and pricing actions [11][12] Business Line Data and Key Metrics Changes - The company has prioritized investments in volume growth for frozen and snacks, which have shown a strong consumer response [7][10] - The canned food business is expected to remain stable, focusing on cash generation rather than volume growth [45] Market Data and Key Metrics Changes - The company is experiencing double-digit inflation in animal protein costs, which significantly impacts overall inflation rates [18][19] - The company expects core inflation of 4% for fiscal 2026, with additional tariff-related costs contributing to overall inflation [19][20] Company Strategy and Development Direction - The company is committed to investing in brand building and volume growth despite current inflationary pressures, viewing healthy volumes as essential for long-term value creation [11][12] - A strategic focus on modernizing brands and leveraging technology, including AI, is part of the company's plan to drive growth and lower costs [13][33] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the ongoing inflationary environment and its impact on margins but remains optimistic about future margin recovery through productivity and pricing strategies [10][55] - The company is focused on overcoming supply chain challenges and is optimistic about returning to positive volume growth in key categories [36][55] Other Important Information - The company plans to maintain its dividend while also investing in infrastructure and paying down debt, forecasting a cash flow conversion rate of 90% [24][25] - The company has undergone significant portfolio reshaping, divesting non-strategic businesses to focus on growth areas in frozen and snacks [70][71] Q&A Session Summary Question: Current challenges in the industry - Management indicated that the current challenges are not structural but rather temporary, with expectations for margin expansion in the future [11][12] Question: Core inflation breakdown - The CFO provided details on the 4% core inflation, highlighting that 60% of costs are material, with significant inflation in animal proteins [17][19] Question: Dividend strategy amidst high leverage - Management reiterated their commitment to maintaining the dividend while also focusing on debt reduction and investment in the business [24][25] Question: Pricing strategy in competitive categories - Management discussed their tailored pricing approach, emphasizing the importance of maintaining brand equity and consumer connection [45][66] Question: Innovation impact on pricing - Management highlighted successful innovations, such as the Banquet Mega Chicken Filets, which have allowed for premium pricing despite market challenges [95][98]