Two analysts raised their forecasts for ConAgra Foods Inc. on Friday, citing the company's strong fiscal first-quarter performance and easing commodity costs. For the year, ConAgra said it now expects adjusted earnings of $2.03 to $2.06 per share, up from its previous forecast of $1.95 to $1.99 per share.
ConAgra Foods shareholders will gather in Omaha on Friday afternoon to hear an update on the company's performance and ask top executives questions. Investors should be in a good mood after the quarterly earnings report ConAgra released Thursday.
A study by French researchers claiming ill effects on laboratory rats fed genetically modified corn and given water spiked with herbicide has been rejected by American scientists who questioned the motives and methods of the authors. U.S. scientists claim that the intention of the study was to "negatively influence public opinion" regarding GMOs.
This Sept. 18, 2012 photo released by the Family Reach Foundation shows actor Matt Damon, right, and Chef Ming Tsai participating in "Cooking Live With Chef Ming Tsai and Friends" to benefit the Family Reach Foundation and its mission to help families fighting pediatric cancer in New York.
Sanderson Farms Inc. has sued a union, claiming its union representatives filed meritless complaints with federal agencies and made slanderous statements to news organizations. The union filed documents Wednesday to have the case moved to federal court in Mississippi.
Doritos is upping the prize for its annual "Crash the Super Bowl" contest, bringing in Michael Bay, a big name movie director who is no stranger to crashes himself. The Frito Lay snack chip brand's seventh annual contest allows viewers to submit their own Doritos commercials. Fans vote on their favorites to appear during the big game.
ConAgra Foods Inc. said Thursday that its profit more than doubled in the fiscal first quarter as it added to its roster of brands and benefited from one-time investment gains. The Omaha, Neb.-based maker of Banquet, Chef Boyardee and Marie Callender's raised its dividend and earnings outlook for the year, sending its shares up more than 6 percent.
The weekly U.S. Drought Monitor update released Thursday showed that recent rainfall benefited parts of the Corn Belt, coming too late to help already damaged corn crops but still likely to plump up maturing soybeans in the fields. The report shows about one-fifth of the contiguous U.S. remains in the two worst categories of drought — extreme and exceptional.
According to a report released Thursday by the Rabobank Food & Agribusiness Research and Advisory (FAR) group, food prices are likely to reach an all time high the first quarter of 2013 and will present a challenge for the livestock industry.
As Canadians begin to bring in the fall harvest and prepare for Thanksgiving celebrations, a report from BMO Bank of Montreal underscores Canadians' commitment to local food. The BMO study suggests that most Canadians try to buy local products when they shop for groceries and are willing to pay a premium to put local food on their kitchen tables.
Starbucks Corp. is about to turn up the heat on the single-serve coffee market, and someone might get burned. The Seattle-based company says it will start selling its new single-serve brewer online this week for $199. The machine will be rolled out in its ubiquitous cafes next month.
General Mills Inc. is benefiting from its acquisition of Yoplait International, even as it struggles to expand its yogurt business at home. The Minneapolis-based maker of Cheerios, Betty Crocker and Hamburger Helper said Wednesday that its fiscal first-quarter profit rose 35 percent as its purchase of Yoplait International lifted sales overseas.
The USA Rice Federation, which represents U.S. rice growers and all segments of the U.S. rice industry, yesterday issued a statement in response to a Consumer Reports article on arsenic in rice. The group begins by saying, "We understand that 'arsenic' is an alarming word, but we believe it is important for consumers to know that arsenic is a naturally occurring element in our air."
Microbreweries and home-brewers across the nation may soon be looking to Skagit Valley for one all-important ingredient needed for their varieties of beer: malt. Thanks to a partnership among entrepreneurs, grain researchers, local farmers and the Port of Skagit, Skagit Valley Malting, LLC will soon start moving equipment into a 11,745-square-foot building at the Bayview Business Park in Burlington.
The Canadian Food Inspection Agency has again expanded its health hazard warning about ground beef products from XL Foods of Alberta. The warning about the beef sold is a variety of stores across much of the country is due to concerns about possible dangerous E. coli contamination.
A suburban Denver man who was diagnosed with "popcorn lung," possibly from inhaling the artificial butter smell of the microwave popcorn he regularly ate, has won a $7.2 million verdict against Gilster-Mary Lee Corp., The Kroger Co. and Dillon Companies Inc.
Heineken NV says it has taken another step closer to winning its struggle to take over Asia Pacific Breweries, maker of Tiger beer. The Dutch brewer said Wednesday it has agreed to buy an 8.6 percent stake in APB from Thailand's Kindest Place Group Ltd. for around $960 million.
The U.S. seafood catch reached a 17-year high last year, with all fishing regions of the country showing increases in both the volume and value of their harvests. Commercial fishermen last year caught 10.1 billion pounds of fish and shellfish valued at a record $5.3 billion, according to a report released Wednesday by the National Oceanic and Atmospheric Administration.
Kroger is recalling Kroger Fresh Selections Tender Spinach sold at grocery stores in 15 states due to possible Listeria contamination. The grocer said Wednesday that if customers did buy the recalled product, they should return it to stores for a full refund or replacement.
The U.S. seafood catch reached a 17-year high in 2011, with all fishing regions of the country showing increases in both the volume and value of their harvests. New Bedford, Mass., had the highest-valued catch for the 12th straight year, due largely to its scallop fishery.