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[J.M. Smucker kills estimates in Q1 ]]>http://www.bloggingstocks.com/2009/08/22/j-m-smucker-kills-estimates-in-q1/http://www.bloggingstocks.com/2009/08/22/j-m-smucker-kills-estimates-in-q1/http://www.bloggingstocks.com/2009/08/22/j-m-smucker-kills-estimates-in-q1/#commentsFiled under: , ,

The J.M. Smucker Company (NYSE: SJM), a food manufacturer famous for its jelly and baking products, reported a great first quarter on Friday. Adjusted earnings per share increased 12% to 92 cents. According to Reuters, management was able to beat expectations by a whopping 12 cents.

This is quite impressive given the fact that an analyst quoted by Reuters believes that more people eating at home are helping to fuel Smucker's success. I say this because, if people are deciding to dine at home more often, they are most likely doing so because of the recession.

Continue reading J.M. Smucker kills estimates in Q1

J.M. Smucker kills estimates in Q1 originally appeared on BloggingStocks on Sat, 22 Aug 2009 09:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>CAGcoffeeconagrafolgersfoodinthenewsjellyjm smuckerKFTKraftSJMsupermarketSat, 22 Aug 2009 09:10:00 EST<![CDATA[P&G to make more cash from Folgers sale]]>http://www.bloggingstocks.com/2008/11/11/pandg-to-make-more-cash-from-folgers-sale/http://www.bloggingstocks.com/2008/11/11/pandg-to-make-more-cash-from-folgers-sale/http://www.bloggingstocks.com/2008/11/11/pandg-to-make-more-cash-from-folgers-sale/#commentsFiled under: , , ,

Coffee is keeping Procter & Gamble (NYSE: PG) wired, even as it exits the home-brew business, finalizing the sale of Folgers to The J.M. Smucker Co (NYSE: SJM). The company raised its fiscal second-quarter and full-year 2009 forecasts due to better-than-expected proceeds from the sale of America's biggest-selling coffee brand. Previously, Procter & Gamble had expected a gain of 50 cents per share; now the company expects 63 cents per share in profit. The gain is partly due to the unusual method of sale called a "reverse Morris Trust" transaction; P&G will spin off Folgers to its shareholders, then simultaneously Folgers and J.M. Smucker will merge to form a new company.

As a result, earnings per share will be $1.63 for the quarter, the company said, and between $4.28 and $4.38 for fiscal 2009.

The sale of Folgers may have been timely for Procter & Gamble, as consumers who have been pressed financially have not yet returned to brewing coffee at home, instead downgrading from pricey independent coffeeshops and Starbucks (NASDAQ: SBUX) to better values for enormous cups of brewed coffee (with a side of deep-fried pastries) at Dunkin' Donuts and the like. If the economy continues to decline, perhaps Folgers will see a resurgence; for now, P&G is happily focusing on its core brands while Smucker works in a different customer base which values "iconic" comfort food brands.

P&G to make more cash from Folgers sale originally appeared on BloggingStocks on Tue, 11 Nov 2008 16:32:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>coffeefolgersjm smuckerJmSmuckerpgprocter and gambleProcterAndGamblesjmsmuckerTue, 11 Nov 2008 16:32:00 EST<![CDATA[Newspaper wrap-up: UAL Corp. to drop 70 more jets]]>http://www.bloggingstocks.com/2008/06/04/newspaper-wrap-up-ual-corp-to-drop-70-more-jets/http://www.bloggingstocks.com/2008/06/04/newspaper-wrap-up-ual-corp-to-drop-70-more-jets/http://www.bloggingstocks.com/2008/06/04/newspaper-wrap-up-ual-corp-to-drop-70-more-jets/#commentsFiled under: , , , ,

MAJOR PAPERS:
  • In a move to help cut expenses and save on fuel prices, UAL Corporation (NASDAQ: UAUA), parent of United Airlines, will reduce its 460 airplane fleet by 70 jets. Not yet known is how may jobs will be affected, the Wall Street Journal reported.
  • In an all stock deal, J.M. Smucker Co. (NYSE: SJM) is expected to buy Folgers coffee from The Proctor & Gamble Company (NYSE: PG) for an estimated $2B, according to the Wall Street Journal. Folgers, the best selling ground coffee in the U.S., has annual sales of about $1.6B.
  • The Financial Times reported that Lehman Brothers Holdings Inc (NYSE: LEH) lost $500M-$700M on some of its hedging positions in Q2, which have contributed to a larger than expected loss that could result in the bank raising more capital by selling a stake to an outside investor. Lehman has begun negotiations with potential investors, including asset managers and Asian banks, sources said.
OTHER PAPERS:
  • According to sources, the Rocky Mountain News reported that troubled home builder Beazer Homes USA Inc (NYSE: BZH) is pulling out of Colorado. Beazer, which is being investigated for mortgage fraud by several government agencies, has built homes in the suburbs of Denver and in Colorado Springs.

Newspaper wrap-up: UAL Corp. to drop 70 more jets originally appeared on BloggingStocks on Wed, 04 Jun 2008 08:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>beazer homebeazer homesBeazerHomeBeazerHomesBZHfleet reductionFleetReductionfolgersfolgers coffeeFolgersCoffeeJM SmuckerJmSmuckerLEHlehman brotherslehman brothers hold...lehman brothers vent...LehmanBrothersLehmanBrothersHold...LehmanBrothersVent...PGprocter and gambleprocter gambleProcterAndGambleProcterGambleSJMual corpual corp.ual corporationUalCorpUalCorp.UalCorporationUAUAUnited AirlinesUnitedAirlinesWed, 04 Jun 2008 08:10:00 EST