Del Monte up big on Q1 data - Steven Mallas

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Del Monte up big on Q1 data
Sep 03, 2009 08:00 PM UTC

Steven Mallas

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Symbol	Sentiment	Start	Return	Closed
KFT	n/a
DLM	n/a
CAG	n/a

Via BloggingStocks:

Filed under: Earnings reports, ConAgra Foods (CAG), Kraft Foods'A' (KFT)

Del Monte Foods (NYSE: DLM), a supermarket brand whose colleagues include ConAgra (NYSE: CAG) and Kraft (NYSE: KFT), was way up in afternoon trading. When a stock like Del Monte gains 9% on great volume, you know something big must have happened. Well, it was the company's fiscal Q1 results that made investors want to buy today. After checking over the news, I can honestly say that I see the market's point.

Sales increased 12% during the quarter, and earnings from continuing operations calculated out to 30 cents per share, a huge improvement over the loss observed in the comparable period. According to Earnings.com, Wall Street was only looking for a measly four pennies for the bottom line.

Continue reading Del Monte up big on Q1 data

Del Monte up big on Q1 data originally appeared on BloggingStocks on Thu, 03 Sep 2009 15:00:00 EST. Please see our terms for use of feeds.

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