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Two Ways: ConAgra Leaves Investors Hungry For More


Strengthen your portfolio in good times and bad.


Consumer staples were in focus today due in part to positive results from ConAgra Foods (CAG). While shipment volumes fell and margins were negatively impacted, the food company still managed to beat third-quarter estimates.

According to the Wall Street Journal, net income for the quarter dropped 37% from a year earlier to $193.2 million, or $0.43 per share. Excluding items, earnings were $0.40 per share, while revenues came in at $3.13 billion.

Investors have been apprehensive about the increasingly competitive pricing environment, but ConAgra seemed to allay those concerns, at least for the time being, when it revealed that prices in its consumer segment rose 10%. The company also expects overall shipment volumes to pick up next quarter as improved marketing takes hold.

Shares of ConAgra closed the day up 9.19% to $16.99.

From the Bull Pen: ConAgra sits in a favored sector right now. Those bullish can set an initial position here with a sell stop below $18.50.

From the Bear Cave
: What consumers will likely not be buying are expensive motorcycles. Bears can look to Harley Davidson (HOG) approaching gap fill near $16. One option is to set a small downside position with a tight buy stop above.

Have a great night, Minyans! Look for me at Giorgio's of Gramercy.

In memory of our fallen friend and trusted colleague, Bennet Sedacca, 100% of the donations made to the RP Foundation through April will be channeled to philanthropic endeavors consistent with the RP mission, working closely with the Sedacca clan in the distribution of those funds. We thank you kindly for your support as we strive to affect positve change in the lives of children.

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No positions in stocks mentioned.

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