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Market Update
Tuesday, August 9, 2011 - 9:38am | 144Shares of Pacific Gas & Electric Corp (NYSE: PCG) fell about 0.2% after the company named a Michigan energy executive as its new president and CEO. Shares of Snyder's-Lance Inc (NASDAQ: LNCE) dropped about 2.3% after the company acquired all of the issued and outstanding shares of George Greer...
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Earnings Roundup
Tuesday, August 9, 2011 - 9:35am | 1311Dish Network Corp (NASDAQ: DISH) reported a 30% rise in its second-quarter profit. Dish Network's quarterly profit surged to $335 million, or $0.75 per share, from $257 million, or $0.57 per share, in the year-ago period. Its revenue climbed 13% to $3.59 billion. However, analysts were expecting...
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Wells Fargo Upgrading Church & Dwight
Tuesday, August 9, 2011 - 8:46am | 232Wells Fargo is out with a research report on Church & Dwight Co. (NYSE: CHD) and is upgrading to Outperform on valuation. It has a $40-$42 price target on shares. In a note to clients, Wells Fargo writes, "We are upgrading our rating on CHD shares to Outperform from Market Perform given 10-15...
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UPDATE: Ralcorp Reports 47% Drop In FQ3 Profit
Tuesday, August 9, 2011 - 8:39am | 67Ralcorp Holdings Inc (NYSE: RAH) reported a 47% decline in its fiscal third-quarter profit. Ralcorp reported its quarterly earnings at $28.3 million, down from $53 million, in the year-ago period. Its adjusted earnings surged to $1.15 per share from $1.11 per share. Its revenue climbed 22% to $1....
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Wells Fargo Upgrades Church & Dwight To Outperform
Tuesday, August 9, 2011 - 8:22am | 18Wells Fargo has upgraded Church & Dwight (NYSE: CHD) to Outperform.
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News Summary for August 9, 2011
Tuesday, August 9, 2011 - 7:47am | 620This is your Benzinga news summary and traders' outlook for Tuesday, August 9, 2011, covering headlines from overnight and Tuesday's pre-market session. Today in domestic pre-market trading, U.S. equity futures are set for another volatile morning as traders wait for the Federal Reserve's...
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UPDATE: Goldman Sachs Lowers Price Target On Tyson Foods To $20
Tuesday, August 9, 2011 - 7:45am | 68According to Goldman Sachs, Tyson Foods (NYSE: TSN) price target is lowered to $20. Goldman Sachs said that it is lowering the 4Q11 EPS estimates to $0.29 from $0.49 prior and the 2011- 2013 EPS estimates move to $1.92/$2.05/$2.20 from $2.01/$1.88/$2.04 prior. “We are Neutral as we remain...
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J.P. Morgan Overweight On Kellogg
Tuesday, August 9, 2011 - 7:34am | 110J.P. Morgan Chase & Co. is out with a research report on Kellogg (NYSE: K) and it has an Overweight rating and a $62 price target on shares. In a note to clients, J.P. Morgan Chase & Co. writes, "Following a meeting in Boston with Kellogg management, we are reiterating our Overweight...
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Goldman Sachs Lowers PT on Tyson Foods To $20
Tuesday, August 9, 2011 - 7:05am | 27Goldman Sachs has lowered the price target on Tyson Foods (NYSE: TSN) from $21 to $20 and maintains its Neutral rating.
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Ralcorp Holdings To Acquire Sara Lee's Private Brand Refrigerated Dough Business for $545M
Tuesday, August 9, 2011 - 7:01am | 160Ralcorp Holdings, Inc. (NYSE: RAH) today announced that it has entered into a definitive agreement to acquire the North American private brand refrigerated dough business of Sara Lee Corp. (NYSE: SLE), for approximately $545 million. Sara Lee's refrigerated dough business is a leading manufacturer...
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Snyder's-Lance Acquires George Greer Co., Inc.
Tuesday, August 9, 2011 - 6:54am | 123Snyder's-Lance, Inc. (Nasdaq: LNCE), acquired all of the issued and outstanding shares of George Greer Company, Inc., a snack food distributor serving Rhode Island, eastern Massachusetts and New Hampshire markets. This strategic partnership is part of the Company's plans to continue growing and...
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Snyder's-Lance Acquires George Greer Co
Tuesday, August 9, 2011 - 6:43am | 55Snyder's-Lance, Inc. (Nasdaq: LNCE), acquired all of the issued and outstanding shares of George Greer Company, Inc., a snack food distributor serving Rhode Island, eastern Massachusetts and New Hampshire markets. This strategic partnership is part of the Company's plans to continue growing and...
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Morgan Stanley Reiterates Equal-Weight on Tyson Foods
Tuesday, August 9, 2011 - 6:09am | 59Morgan Stanley reiterated its Equal-weight rating on Tyson Foods (NYSE: TSN). At the moment, the rating agency does not have a price target placed on the company's stock. On Monday, TSN lost 3.86% of its value to finish the day at $15.68. Its shares rebounded in today's pre-market trading, rising 2...
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JP Morgan Lowers PT on McCormick & Company To $48
Tuesday, August 9, 2011 - 5:43am | 27JP Morgan has lowered the price target on McCormick & Company (NYSE: MKC) from $50 to $48 and maintains its Neutral rating.
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US Stock Futures Mixed; All Eyes On Fed Statement
Tuesday, August 9, 2011 - 5:19am | 531US stock futures are mixed this morning, as investors are awaiting the Federal Reserve's statement on monetary policy. Futures for the Dow Jones Industrial Average dipped 13 points to 10,713.00 and S&P 500 index futures rose 0.50 points to 1,111.80. Nasdaq 100 futures gained 2.50 points to 2,...