Hershey falls on sour outlook; Fogo De Chao serves Wall St; ConAgra up on activist stake
Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.
Hershey (HSY) shares are lower in early trading. The chocolate maker lowered its sales and profit outlook for the year due to a slowdown in growth in China. Hershey also said it would cut 300 jobs by the end of 2015. And the company is creating a global leadership team to help tackle growth in emerging markets.
Fogo De Chao is getting ready to make its Wall Street debut this morning. The Brazilian steak house priced its initial public offering above its expected range at $20 dollars a share Thursday. That values the company at roughly $545 million. The stock is set to list on the Nasdaq under the ticker symbol “FOGO."
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ConAgra (CAG) shares are up sharply in early trading after activist investor Jana Partners bought a 7.2% stake in the packaged food company, according to an SEC filing. The hedge fund called ConAgra's shares "undervalued" and is seeking to change directors on its board.
Martha Stewart Living Omnimedia (MSO) shares remain in focus today after surging more 26% yesterday following news that retail licensing firm Sequential Brands Group is close to buying the media and merchandise company. The Wall Street Journal reported the deal could be announced within days. Sequential Brands (SQBG) shares are adding to yesterday’s more than 12% gain.