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☆ Jim Cramer's week ahead: Nonfarm payroll data and Disney's proxy fight comes to a head
▼ + stars: | 2024-03-28 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Thursday guided investors through next week's Wall Street action, saying to pay attention to new nonfarm payroll data and Walt Disney's annual shareholder meeting, where its long and arduous proxy fight will come to a head. "Keep an eye on the employment report, because everything else that's coming next week pales in comparison — even the no-holds-barred Disney proxy fight." On Monday, Cramer expects decent earnings from PVH , an apparel maker known for brands including Calvin Klein and Tommy Hilfiger. Walt Disney 's annual shareholder meeting will take place on Wednesday, bringing an end to the company's monthslong bitter proxy fight with activist investor Nelson Peltz. On Friday, the U.S. Department of Labor will release the nonfarm payroll report, and Cramer said he's expecting strong figures.

Persons: CNBC's Jim Cramer, we'll, Cramer, Calvin Klein, Tommy Hilfiger, he's, Walt Disney, Nelson Peltz, Levi Strauss, Conagra, Slim Jims, Orville Redenbacher's, Boyardee, haven't Organizations: Walt, Disney, Enterprise Products Partners, U.S . Department of Labor Locations: Paychex

Chicago-based Conagra Brands must pay out $3.1 million in compensatory damages and $4 million in punitive damages to Reese, according to the Cook County Circuit Court verdict. Consumers can check if their cooking spray cans are vented by looking at whether the bottom of the can has four small U-shaped slits, Smith said. The cooking spray that exploded near Reese had been stored on a shelf about 18 inches (46 centimeters) above the stove, according to Flowers. “In a commercial kitchen, that’s a sort of normal place where people leave their cooking spray cans when they’re actually using them. The redesign was not related to the lawsuits and was part of an effort to standardize the company’s cans, Conagra said.

Persons: —, Tammy Reese, Pam, Reese, “, Craig Smith, Marie Callender’s, Chef Boyardee, Slim Jim, Smith, ” Peter Flowers, Conagra, ___ Savage Organizations: CHICAGO, Brands, Conagra, Swiss Miss, Associated Press, America Statehouse News Initiative, America Locations: Illinois, Chicago, Pennsylvania, Shippensburg , Pennsylvania, Cook, Swiss

☆ Jury awards $7.1 million to a burn victim who alleged that a can of cooking spray 'exploded into a fireball'
▼ + stars: | 2023-11-01 | by ( Associated Press | ) www.businessinsider.com time to read: +4 min

Tammy Reese was badly burned when a can of commercial-brand cooking spray ignited, a lawsuit alleged. A jury has ordered Conagra Brands to pay $7.1 million in compensatory and punitive damages. "We continue to stand by our cooking spray products, which are safe and effective when used correctly, as instructed. Consumers can check if their cooking spray cans are vented by looking at whether the bottom of the can has four small U-shaped slits, Smith said. "In a commercial kitchen, that's a sort of normal place where people leave their cooking spray cans when they're actually using them.

Persons: Tammy Reese, Conagra, —, Pam, Reese, Craig Smith, Marie Callender's, Chef Boyardee, Slim Jim, Smith, Peter Flowers Organizations: Brands, Service, Conagra, Swiss Miss Locations: Illinois, Chicago, Pennsylvania, Shippensburg , Pennsylvania, Cook, Swiss

Hostess, the maker of snack classics like Twinkies and HoHos, is being sold to J.M. Hostess Brands Inc. shareholders will receive $30 in cash and 0.03002 shares of The J.M. Smucker Co. stock for each share of stock that they own. The rest, including Twinkies and other Hostess cakes, was acquired by Metropoulos & Co. and Apollo, for $410 million. Smucker Co. and Hostess have both approved the deal, which is expected to close in Smucker's fiscal third quarter.

Persons: Andy Callahan, Twinkies, Hostess, XX, Wonder, Leon Black, Carl’s, Chef Boyardee, Bee, Morgan Stanley's Pam Kaufman Organizations: Hostess Brands Inc, Associated Press, Flowers Foods, McKee Foods, Metropoulos, Apollo Global Management, Pabst Brewing Co, Hostess Locations: Smucker, America, , Kansas

Price growth in the U.S. cooled in December as the economy continued to show signs of weakening. Thursday's BLS data showed food prices advanced 0.3% on a monthly basis in December. Economists at Bank of America say Thursday's inflation report is unlikely to cause Fed officials to abandon their plan to aggressively slow the economy through interest rate hikes. "While there are growing signs that inflation has peaked, the Fed is worried about the overheating labor market," the economists said in a report this week. "Our outlook for the December [inflation] report is unlikely to quell those concerns."

Known for its Birds Eye, Chef Boyardee and Slim Jim brands, Conagra is increasing some of its prices in its current fiscal 2023 third quarter. "We don't currently have any plans to take additional pricing beyond that," Connolly said, noting the plans could change if inflation persists. The price of groceries eaten at home rose an estimated 11%-12% in 2022, versus a 7%-8% increase in restaurant menu prices, according to estimates from the U.S. Department of Agriculture. "If you're going to spend your day at home instead of in the office, odds are the breakfast and the lunch that you're going to have is going to be a product like a Healthy Choice Power Bowl," Connolly said. "We've now moved it to just about everything we sell in our frozen meals business," he said.

NEW YORK, Jan 10 (Reuters) - Conagra Brands Inc (CAG.N) Chief Executive Officer Sean Connolly said in a Reuters Newsmaker interview on Tuesday that he sees double-digit inflation in fiscal 2023, although protein costs are moderating. The company, known for its brands Birds Eye and Chef Boyardee, raised its full-year forecasts last week, after beating quarterly results, helped mainly by higher prices for its snacks and ready-to-eat meals. Its share price rose 12% in 2022 and shot up further after the improved forecasts. Packaged food makers have undergone several rounds of price increases in the past year to shield their profit margins from higher costs, which people have accepted as they find eating out far more expensive than cooking at home. Reporting by Jessica DiNapoli and Hilary Russ in New York Editing by Lisa Shumaker and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Conagra Brands raises 2023 forecast on price increases
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

Shares of the company, known for its brands Birds Eye and Chef Boyardee, rose about 4% in premarket trading. But people have accepted the higher prices with little push back, as they find eating out far more expensive than cooking at home. On Thursday, Conagra forecast a 7% and 8% rise in full-year 2023 organic sales, which excludes impact from foreign exchange, divested businesses and acquisitions, compared with the previous expectation of 4% to 5% growth. Conagra said its higher average selling prices boosted organic sales by 17%, offseting an 8.4% decline in sales volumes in the second quarter. Net sales rose to $3.31 billion, while analysts had expected $3.28 billion in sales.

☆ 2022 was the year the Overconfidence Man fell back to earth
▼ + stars: | 2022-12-29 | by ( Maureen Tkacik | ) www.businessinsider.com time to read: +22 min

Naturally, Elon Musk, the platonic ideal of the peculiar self-aggrandizing, self-parodying personality type that thrived during the Trump years and peaked during the pandemic, tops this list. By 2022, the media had pronounced him variously the next Warren Buffett, J.P. Morgan and Charles Koch. "bye bye @trussliz Congrats to lettuce", tweeted Putin's one-time stand-in Dmitry Medvedev, to which Elon Musk could not resist replying, "pretty good troll tbh." Elon Musk speaks at the 2020 Satellite Conference and Exhibition in March 2020. Elon MuskIt's weird to recall now that Elon Musk once seemed like, graded on the billionaire curve anyway, a net positive for a cursed American society.

☆ Buy Conagra as it catches up with the competition, UBS says in upgrade
▼ + stars: | 2022-11-18 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

It's time to buy Conagra as it catches up to its rivals, according to UBS. Analyst Cody Ross upgraded shares of Conagra to buy from neutral. He said the stock is lagging its peers even as the packaged food company signals a better earnings growth trajectory ahead. "Despite these tailwinds, CAG's stock is lagging lg cap packaged food peers this year (+2.6% vs lg cap peers +14.3%) and is trading at a 20% discount to lg cap packaged food peers compared to its 5-yr avg of 11% (EV/EBITDA)," he added. Shares of Conagra are up 2.3% in 2022, while shares of peers such as General Mills and Kellogg have jumped more than 18% and 8% this year, respectively.

☆ That nondescript building on the side of the highway is the newest gold mine Wall Street is trying to tap
▼ + stars: | 2022-10-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

But first, inside the latest Wall Street investment trend that's offering double-digit returns. Meet Wall Street's newest gold mine. So why should you care about Wall Street's sudden interest in warehouses? To read more about Wall Street's appetite for warehouses, check out the full story here. PE firms have started buying up stakes in law firms.

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