Andrew Lazar, Barclays Capital

Kraft Foods Inc. (KFT) - Andrew Lazar at Barclays Capital

Analyst Andrew Lazar, of Barclays Capital, is forecasting annual earnings per share of $204 for 2010 against an estimate of $203 for 2009, suggesting little uplift from the Cadbury acquisition 

Cadbury plc - Andrew Lazar at Barclays Capital

Analyst Andrew Lazar, of Barclays Capital, is forecasting annual earnings per share of $204 for 2010 against an estimate of $203 for 2009, suggesting little uplift from the Cadbury acquisition 

Kraft Foods Inc. (KFT) - Andrew Lazar at Barclays Capital

But revenue fell nearly 6 percent to $9.8 billion, missing Wall Street's $10.32 billion sales expectations. Barclays analyst Andrew Lazard called it a "low quality" beat on profit, as the company made its gains largely on lower input prices and cost cutting. Kraft did report gains in the volume and mix of products selling with consumers, but Lazard noted investors hoped it would be a more significant jump. 

Kraft Foods Inc. (KFT) - Andrew Lazar at Barclays Capital

In response, Kraft said it would use cost savings to strengthen its key brand products. The Northfield, Ill. based company is behind major labels like Oreo, Ritz and Jell O. According to Barclays analyst Andrew Lazar, promotional spending appeared to have paid off with improved volume and market share compared with the previous two quarters.  

Sara Lee Corporation (SLE) - Andrew Lazar at Barclays Capital

She lowers $1.36 fiscal year 2009 (January) EPS estimate to $1.14 and $1.48 for fiscal year 2010 to $0.98. BARCLAYS CAPITAL CUTS TARGETS FOR MCCORMICK, CONAGRA, SARA LEE . Barclays Capital analyst Andrew Lazar says he's downgrading the packaged foods sector to neutral from positive on lesser visibility for earnings growth in 2009, and valuation factors. Lazar says, while pricing has already caught up with inflation and proven quite positive for the food group in 2008, the magnitude and timing of earnings growth in 2009 and beyond is less clear due to changes in the broader commodities markets that have occurred in recent years. 

McCormick & Company, Inc. (MKC) - Andrew Lazar at Barclays Capital

She lowers $1.36 fiscal year 2009 (January) EPS estimate to $1.14 and $1.48 for fiscal year 2010 to $0.98. BARCLAYS CAPITAL CUTS TARGETS FOR MCCORMICK, CONAGRA, SARA LEE . Barclays Capital analyst Andrew Lazar says he's downgrading the packaged foods sector to neutral from positive on lesser visibility for earnings growth in 2009, and valuation factors. Lazar says, while pricing has already caught up with inflation and proven quite positive for the food group in 2008, the magnitude and timing of earnings growth in 2009 and beyond is less clear due to changes in the broader commodities markets that have occurred in recent years. 

Sara Lee Corporation (SLE) - Andrew Lazar at Lehman Brothers

The company didn't issue guidance for the quarter. ANALYST TAKE: The non-cash charge shows that the Spanish bakery and North American Foodservice bakery operations didn't show the level of improvement management expected in the second half of Sara Lee's fiscal year, Lehman Brothers (nyse: LEH . - news . - people ) analyst Andrew Lazar wrote in a research note. He also said that since the company didn't choose to pre-announce its earnings, that means the poor performance of those segments probably didn't affect the company's fiscal 2008 earnings.