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☆ Trader Talk: Earnings are mostly about hopes for the second half
▼ + stars: | 2023-01-13 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Earnings: It's all about the second half of 2023. Wall Street analysts agree, but they are expecting a much rosier outcome in the second half of the year. "The big question is, are the worst of the earnings estimate cuts for 2023 behind us?," Nick Raich from Earnings Scout told me. Big cap tech earnings: laggards (Q4 year over year earnings ests.) Analysts embrace 'tough first half, better second half' scenario All the hopes for earnings growth are now pinned on the back half of the year, when the Fed is expected to have halted its rate hike frenzy.

☆ Conagra CFO Doesn’t See Need for Big Price Increases in Near Term
▼ + stars: | 2023-01-13 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +4 min

Photo: Conagra Brands“We won’t have any more significant price increases unless our cost, our inflation estimate, starts to go back up,” Mr. Marberger said. The reading comes amid moderating price increases after a peak of 9.1% in June. I never, ever remember that kind of a price increase,” Mr. Marberger said. “They are now turning the corner and from here are going to need less rapid price increases, unless some other price shocks occur.”Conagra’s sales volumes fell 8.4% for the quarter ended Nov. 27 as customers responded to the price increases, the company said. “And that plays well for us.”Overall, Conagra’s customers—which include retailers Walmart Inc. and Kroger Co. —have accepted the price increases, Mr. Marberger said.

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.

☆ Market expectations for a soft landing are growing after latest batch of economic reports
▼ + stars: | 2023-01-09 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

"This is the definition of a soft landing," Apollo Global's chief economist Torsten Slok said on CNBC's " Closing Bell " on Friday. The price hikes at Conagra were crazy. Those price hikes more than made up for higher costs. We may be reaching the limits of price hikes, however: Constellation Brands said consumers are pushing back against beer price hikes. If December's consumer price index, out Thursday, is benign (below the 6.5% year over year growth expected), the market could move even higher.

☆ Conagra Is Your Food Value Play for 2023
▼ + stars: | 2023-01-05 | by ( Aaron Back | ) www.wsj.com time to read: 1 min

American food companies had a strong 2022. One relative laggard in the sector, Conagra Brands, looks positioned to break out this year. The company, which owns brands such as Birds Eye frozen vegetables, Hunt’s tomato products and Reddi Wip, reported strong results on Thursday. Organic sales, which strip out currency fluctuations and merger impacts, rose 8.6% from a year earlier in the company’s second fiscal quarter, which ended on Nov. 27. That was just ahead of analyst expectations for an 8.4% rise, according to Visible Alpha.

☆ Conagra Raises Outlook as Higher Prices Continue to Lift Sales
▼ + stars: | 2023-01-05 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Conagra, which makes Slim Jim meat snacks, said Thursday it was still working against inflated input costs. Conagra Brands Inc. expects higher sales and earnings for fiscal 2023 after the food company continued to raise prices to stave off inflation and supply-chain pressures. The Chicago-based maker of Healthy Choice frozen meals and Slim Jim meat sticks said revenue rose 8.3% to $3.31 billion in the quarter ended Nov. 27 thanks to price increases and a shift in the mix of products it sold.

☆ Stocks making the biggest moves midday: Silvergate, Bed Bath & Beyond, Walgreens and more
▼ + stars: | 2023-01-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Silvergate — Shares of the crypto-focused bank tumbled more than 42% after Silvergate disclosed massive customer withdrawals during the fourth quarter. Bed Bath & Beyond — The home goods retailer plummeted 24% after reporting it's running out of cash and is considering bankruptcy, citing weaker-than-expected sales. Constellation Brands — The alcoholic beverage maker's shares fell 8.8% after quarterly earnings came in slightly lower than analysts expected, according to FactSet. The food company reported earnings of 81 cents per share on revenue of $3.31 billion in revenue. GE Healthcare Technologies — Shares of the new public company fell 3% on their second day of trading, after rallying 8% on Wednesday.

☆ 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.

☆ Earnings Exchange: WBA, STZ & CAG
▼ + stars: | 2023-01-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEarnings Exchange: WBA, STZ & CAGDavid Katz, Matrix Asset Advisors chief investment officer, joins ‘The Exchange’ to discuss a few stocks ahead of earnings including: Walgreens, Constellation Brands and Conagra.

☆ Markets close out the year down, following light week of trading
▼ + stars: | 2022-12-30 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

Markets closed out the week — and the year — in the red, as the so-called Santa Claus rally failed to materialize. Under the hood, financials closed out the week in the green followed by energy, while materials led to the downside followed by consumer staples and utilities. On Thursday, initial jobless claims for the week ending Dec. 24 came in at 225,000, the U.S. Labor Department said. ET: ISM manufacturing PMI 10:00 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, Hostess, Home Depot, Rivian, Netflix & more
▼ + stars: | 2022-12-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are Tuesday's biggest calls on Wall Street: Atlantic Equities names Coca-Cola as a top 2023 pick Atlantic Equities said it sees "category momentum" for shares of the beverage giant. JPMorgan reiterates Apple as overweight JPMorgan cut its price target on Apple to $190 per share from $200 due to supply chain challenges concerns. JPMorgan names Amazon as a top 2023 pick JPMorgan said Amazon is the "most diversified mega-cap across revs/profit & has numerous large growth opportunities." JPMorgan resumes DuPont as overweight JPMorgan resumed coverage of the stock and said it sees several positive catalysts ahead. JPMorgan names Bank of America a top 2023 pick JPMorgan said it likes the stock due to a "lower share of nonprime consumer loans."

☆ With Debt Coming Due, Investment-Grade Companies Are Paying Up, Too
▼ + stars: | 2022-12-01 | by ( Nina Trentmann | ) www.wsj.com time to read: +7 min

What’s more, volatile markets have resulted in fewer opportunities for companies to sell their debt. Investment-grade U.S. companies have between $550 billion and $750 billion coming due per year from 2023 through 2027, according to Goldman Sachs Group Inc., with about $59 billion left to pay off or refinance in 2022. Of the $615.54 billion, $504.31 billion were new issuances, compared to $111.23 billion in refinancings, Dealogic said. But investor demand for bonds has been stronger in recent days, leading Amazon.com Inc. and others with near-term debt coming due to the market. Among the businesses that recently took out bond debt at a higher cost is retail giant Walmart Inc.

☆ I'm a turkey expert for the Butterball hotline. You'd be surprised how many odd and panicked calls I get on Thanksgiving Day.
▼ + stars: | 2022-11-23 | by ( Jenny Powers | ) www.businessinsider.com time to read: +9 min

Phyllis Kramer is a Butterball Turkey Talk-Line expert based in Aurora, Illinois. All the talk-line experts took calls remotely from homeTraditionally, we take calls side by side in one big room housed inside a building located in Naperville, Illinois. Our average call lasts 3 minutes, and the most common question is how to thaw a frozen turkeyA herb- and citrus butter-roasted Butterball turkey. I've also heard from people mixing it up and making Greek turkey, Cajun turkey, and even a Southwestern one. I always thaw turkey in the refrigerator, so that's where it is right now.

☆ Here are Friday's biggest analyst calls: Coinbase, Apple, Amazon, GM, Conagra, Pfizer & more
▼ + stars: | 2022-11-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Credit Suisse downgrades Hewlett Packard to neutral from outperform Credit Suisse said it sees too many macro headwinds for the stock. Credit Suisse names Ross a top pick Credit Suisse says the offprice retailer has the most "torque" to accelerate market share gains. "Strong 3Q updates from ROST /TJX reinforces our bullish thesis that Offpricers are quickly repositioning for accelerating market share and powerful EPS tailwinds as margins revert to pre-COVID levels starting in '23." Credit Suisse initiates Pfizer as outperform Credit Suisse said in its initiation of Pfizer that it likes the company's pipeline advances. " Credit Suisse initiates Eli Lilly as outperform Credit Suisse said in its initiation of Eli Lilly that it sees "upward revisions" from obesity sales.

☆ What Cramer is watching Friday — Fed plays good cop, bad cop and off-price retailers shine
▼ + stars: | 2022-11-18 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Rival Ross Stores (ROST) gets multiple price target increases. Citi raises BJ's Wholesale (BJ) price target to $83 per share from $81 after earnings beat. Multiple price target raises on Club Bullpen name Palo Alto Networks (PANW). Barclays raises Applied Materials (AMAT) price target to $90 per share $80 but keeps neutral rating. Piper Sandler starts DraftKings (DKNG) with an overweight (buy) rating and a $21-per-share price target, which implies about 40% upside from Thursday's close.

☆ 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.

☆ Coupa Software Weighs Right Time to Refinance Low-Rate Debt Amid High Rates
▼ + stars: | 2022-11-15 | by ( Mark Maurer | ) www.wsj.com time to read: +6 min

Coupa Software Inc. is searching for the right time to refinance over $2 billion in convertible debt that it holds at nearly evanescent rates—despite rising financing costs and the fact that its maturities are more than two years away. Tony Tiscornia, chief financial officer at Coupa Software. “For a young software company, we would really like to see a lot of the focus on just growth at this time, over profitability,” she said, speaking generally. The company will likely refinance with convertible debt because the interest rate tends to be lower than that of straight debt, he said, adding that more equity would dilute shareholdings. Conagra said it had $8.98 billion in net debt as of Aug. 28, down from $9.19 billion a year earlier.

☆ Rising Rates Boost Companies’ Focus on Working Capital Management
▼ + stars: | 2022-11-03 | by ( Nina Trentmann | Kristin Broughton | ) www.wsj.com time to read: +5 min

Higher interest rates are putting more pressure on companies to free up cash from their operations, a cheaper option than relying on credit. PREVIEWRising financing costs are one of several factors pushing companies to improve how they manage working capital, alongside high inventory levels and persistent inflation. “The only difference now is that with your cost of capital being higher, sometimes the economics change, but we’re always looking at working capital,” he said. “Working capital management comes more in focus,” Mr. Fracassa said, as it costs more for companies to draw on their revolving lines of credit with today’s higher rates. “It was kind of the unique rebuild period for working capital,” Mr. Wells said.

☆ Rising Rates Boosts Companies’ Focus on Working Capital Management
▼ + stars: | 2022-11-03 | by ( Nina Trentmann | Kristin Broughton | ) www.wsj.com time to read: +6 min

A 20-ounce packet of Sara Lee Classic White Sandwich bread goes for $2.50 at Kroger, compared to $2.24 at Walmart. Nearly two-thirds of Kroger's 2,700 stores are unionized, like a "majority" of Albertsons stores, the United Food and Commercial Workers Union says on its website. Grocery stores such as Kroger, Albertsons, in contrast, are often forced to rely on coupons or buy-one-get-one-free promotions funded by companies like P&G and Conagra in order to compete. Euromonitor data shows that 25.2% of all dollars spent on groceries in the United States last year went to Walmart, while Kroger got 8.1% and Albertson's 4.8%. Walmart shoppers have a median income of $73,000.

A 20-ounce packet of Sara Lee Classic White Sandwich bread goes for $2.50 at Kroger, compared to $2.24 at Walmart. Nearly two-thirds of Kroger's 2,700 stores are unionized, like a "majority" of Albertsons stores, the United Food and Commercial Workers Union says on its website. Grocery stores such as Kroger, Albertsons, in contrast, are often forced to rely on coupons or buy-one-get-one-free promotions funded by companies like P&G and Conagra in order to compete. Euromonitor data shows that 25.2% of all dollars spent on groceries in the United States last year went to Walmart, while Kroger got 8.1% and Albertsons 4.8%. Walmart shoppers have a median income of $73,000.

☆ Stocks making the biggest moves midday: Ford, Las Vegas Sands, Nvidia, Kraft Heinz and more
▼ + stars: | 2022-10-10 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Ford Motor , General Motors — Shares of Ford and GM fell 7% and 5% respectively, after UBS downgraded both stocks. The firm lowered Ford to a sell rating from neutral and cut GM to a neutral from a buy. Casino stocks — Shares of hotel and casino companies were the top decliners in the S&P 500, with Wynn Resorts down 11.6% and Las Vegas Sands losing 8.5%. Kraft Heinz — The food maker's shares rose 2% after Goldman Sachs upgraded them to buy from neutral, noting that higher profit margins haven't been fully priced into the stock. Merck — Shares of the pharmaceutical giant rose 2.8% after Guggenheim upgraded Merck to buy from neutral.

☆ Premarket stocks: Markets are starting to act super strange
▼ + stars: | 2022-10-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

A weakening labor market puts downward pressure on wages and inflation. The labor market is still tight with about 1.7 job openings for every unemployed worker in the US. New private employment data on Wednesday by payroll services firm ADP suggested that the labor market isn’t losing any steam. The rise in oil gave a lift to energy stocks, helping to boost the overall market, reports Paul R. La Monica. Plus: US Department of Labor reports weekly jobless claims at 8:30 a.m.

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