The stock is a bit off a new high, and it has been in a tight channel the last two months. Last time it reported, it blew earnings away, and the stock traded up 6 dollars, after earnings.
When Kraft foods reported, we heard this:
"Businesses like Jell-O, Mac & Cheese, and Kool-Aid are doing exceptionally well," said Irene Rosenfeld, chief executive, as Kraft reported stronger quarterly results than expected.
"There is no question that we are benefiting from the value orientation of consumers," she said.
http://www.ft.com/cms/s/0/d4bdfb0e-39d6-11de-b82d-00144feabdc0.html
Pasta, is the ultimate trade down food.
Which means the stock, should trade up.
2 comments:
is today just a profit take?
would you buy RF at 6? you think they might double?
Depends what assets they can sell--otherwise they could convert $2.1 billion of $3.5 billion preferred into capital, and raise $400 million.
Regions problem, in a nutshell is Florida--and the courts are so jammed that problems in RE in FL take longer to work out and be recognized.
Not sure yet on that one.
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