BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[PepsiCo, Hershey shares slump on food inflation worries]]>http://www.bloggingstocks.com/2008/04/24/pepsico-hershey-shares-slump-on-food-inflation-worries/http://www.bloggingstocks.com/2008/04/24/pepsico-hershey-shares-slump-on-food-inflation-worries/http://www.bloggingstocks.com/2008/04/24/pepsico-hershey-shares-slump-on-food-inflation-worries/#commentsFiled under: , ,

Shares of PepsiCo Inc. (NYSE: PEP), and Hershey Co. (NYSE: HSY) fell as investors were worried that soaring commodity prices would hurt profit.

Net income at Pepsi increased to $1.15 billion, or 70 cents a share while sales soared 13 percent to $8.33 billion. The company benefited from strong international sales. It also reaffirmed 2008 guidance of "high-single-digit net revenue growth" and earnings of at least $3.72. Analysts were expecting profit of $3.73 on revenue of $42.85 billion, according to Thomson Financial.

"We delivered a strong first quarter," said Chief Executive Indra Nooyi in the earnings release. "During the quarter, we faced the challenge of a macroeconomic slowdown in the U.S. and continued global commodity inflation, but the strength and breadth of our global footprint and portfolio helped us deliver strong first quarter results."

The picture at Hershey was hardly sweet. Net income fell to $63.2 million, or 28 cents per share, compared with $93.5 million, or 40 cents, a year earlier. Total cost and expenses rose to $1 billion from $942.7 million.
Revenue rose $1.16 billion. Analysts had expected profit of 39 cents on revenue of $1.17 billion. The chocolate maker also reaffirmed its profit of $1.85 to $1.90 on sales growth of 3 to 4%. Wall Street consensus is for profit of $1.84 on revenue of $5.09 billion.

The problems caused by food inflation have only begun.

PepsiCo, Hershey shares slump on food inflation worries originally appeared on BloggingStocks on Thu, 24 Apr 2008 13:47:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>featuredfood inflationFoodInflationhershey barHersheyBarhsypepThu, 24 Apr 2008 13:47:00 EST<![CDATA[Hershey raises prices after posting terrible earnings]]>http://www.bloggingstocks.com/2008/01/28/hershey-raises-prices-after-posting-terrible-earnings/http://www.bloggingstocks.com/2008/01/28/hershey-raises-prices-after-posting-terrible-earnings/http://www.bloggingstocks.com/2008/01/28/hershey-raises-prices-after-posting-terrible-earnings/#commentsFiled under: , ,

The relationship between Hershey Co. (NYSE: HSY) and Wall Street has been sour for a while. Shares of the chocolate maker have plunged more than 30% over the past year amid concerns about rising commodity prices and the growth of healthier eating habits. Now, the confectioner is raising wholesale prices by an average of 13% on one-third of its domestic product line effective immediately [subscription required].

Chocoholics are paying the price for higher costs for raw materials, fuel, utilities, and transportation.

The move comes less than a week after the Pennsylvania company reported lousy fourth quarter results and gave investors disappointing guidance. In addition, the No. 1 candy maker recently bowed to pressure from law enforcement officials and said it would stop making Ice Breakers Pacs mints after some complaints that the candy might be mistaken for heroin or cocaine.

Yet another reason for people to eat healthy.

Hershey raises prices after posting terrible earnings originally appeared on BloggingStocks on Mon, 28 Jan 2008 13:35:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>candyhershey barHersheyBarHSYinthenewssnacksMon, 28 Jan 2008 13:35:00 EST<![CDATA[Hershey shakes up its board of directors]]>http://www.bloggingstocks.com/2007/11/12/hershey-shakes-up-its-board-of-directors/http://www.bloggingstocks.com/2007/11/12/hershey-shakes-up-its-board-of-directors/http://www.bloggingstocks.com/2007/11/12/hershey-shakes-up-its-board-of-directors/#commentsFiled under: , , ,

Hershey Co. (NYSE: HSY) is kissin' eight directors goodbye and saying hello to their replacements. The Hershey Trust requested that six of them resign, and another two left of their own volition following the sudden departure of CEO Richard Lenny.

The company's stock has been languishing for years and the chairman of the Hershey Trust board said that the trust "has not been satisfied with company's recent results."

According to The New York Times, "The trust controls 79 percent of the company's voting shares and favored a sale of the company in 2002, when the Wm. Wrigley Jr. Company offered $12.5 billion to buy it out. But the trust ultimately rejected the bids amid fierce local opposition, including from Pennsylvania's attorney general, Mike Fisher. Hershey's market value is now about $9.3 billion."

Stiff competition from rivals with lower costs has hurt the company, but the shake-up could give the stock some energy. Change is nearly always welcome at a company that's been performing as poorly as Hershey has. Former CEO Kenneth Wolfe will return to the company as non-executive chairman, and be joined by new directors Charles A. Davis, Edward J. Kelly III, Arnold G. Langbo, James E. Nevels, Tom Ridge, Charles B. Strauss and Leroy Zimmerman.

Shares of Hershey are down about 20% for the year, though up 36 cents today as of 12:15 pm.

Hershey shakes up its board of directors originally appeared on BloggingStocks on Mon, 12 Nov 2007 13:16:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>hersey trustHerseyTrustHersheyhershey barhershey kissHersheyBarHersheyKissHSYinthenewsmilton hershey trustMiltonHersheyTrustMon, 12 Nov 2007 13:16:00 EST