ConAgra Foods (CAG): Share price forming bullish 'pennant'

Filed under: Earnings reports, ConAgra Foods (CAG), Technical Analysis, Kraft Foods'A' (KFT), Unilever ADR (UL), Stocks to Buy

ConAgra Foods (NYSE: CAG) is a top food producer, offering packaged and frozen foods, seafood and dairy products to retail, foodservice, commercial product and international customers. Among the company's many brands are Hunt's, Banquet, Chef Boyardee, Van Camp's, Healthy Choice, Orville Redenbacher's, PAM, Slim Jim and Wesson. Major competitors include Kraft Foods (NYSE: KFT) and Unilever (NYSE: UL).

The company pleased investors late last month, when it reported Q3 EPS of 63 cents and revenues of $3.53 billion. Analysts had been expecting 41 cents and $3.20 billion. Management also guided FY08 EPS to $1.80-$1.85 ($1.60 consensus) and announced that it would sell the company's trading and merchandising arm to the Ospraie Special Opportunities fund and others for $2.1 billion.

Continue reading ConAgra Foods (CAG): Share price forming bullish 'pennant'

<map name="google_ad_map_145-1155716"><area href="http://imageads.googleadservices.com/pagead/imgclick/145-1155716?pos=0" shape="rect" coords="1,2,367,28" /><area href="http://services.google.com/feedback/abg" shape="rect" coords="384,10,453,23" /></map>