Citigroup Inc ( NYSE:C ) has modified its EPS forecast on Kellogg Co ( NYSE:K ) Friday, "given the promotional environment & Eggo situation, we are making modest reductions to our EPS forecast, but believe the stock already embeds significant negativity, way below our estimates," wrote Citigroup's David Driscoll. Citigroup lowered its 2010 EPS forecast down $0.03 to $3.55; down $0.10 to $3.85 for 2011; and down $0.10 to $4.25 for 2012 
Share:  <span class="sent">Citigroup Inc ( NYSE:C ) has modified its EPS forecast on Kellogg Co ( <span class="company">NYSE:K</span> ) Friday, "given the promotional environment & Eggo situation, we are making modest reductions to our EPS forecast, but believe the stock already embeds significant negativity, way below our estimates," wrote Citigroup's <span class="analyst">David Driscoll</span>.</span> Citigroup lowered its 2010 EPS forecast down $0.03 to $3.55; down $0.10 to $3.85 for 2011; and down $0.10 to $4.25 for 2012....<span class="sent">Citigroup Inc ( NYSE:C ) has modified its EPS forecast on Kellogg Co ( <span class="company">NYSE:K</span> ) Friday, "given the promotional environment & Eggo situation, we are making modest reductions to our EPS forecast, but believe the stock already embeds significant negativity, way below our estimates," wrote Citigroup's <span class="analyst">David Driscoll</span>.</span> Citigroup lowered its 2010 EPS forecast down $0.03 to $3.55; down $0.10 to $3.85 for 2011; and down $0.10 to $4.25 for 2012. Tweet this   read full story

Citi analyst says, "Given the decline in Kellogg’s stock price on what we believe are transitory events, we are raising Kellogg to CIRA’s Top Pick Live! list, as our favorite branded food stock. 
Share:  <span class="sent"><span class="analyst">Citi</span> analyst says, "Given the decline in <span class="company">Kellogg</span>’s stock price on what we believe are transitory events, we are raising <span class="company">Kellogg</span> to CIRA’s Top Pick Live! list, as our favorite branded food stock.</span> Tweet this   read full story

An analyst at Citi has added shares of Kellogg (NYSE: K ) to the firm's Top Picks Live List today.Citi maintains a Buy rating and $61 price target. 
Share:  <span class="sent">An analyst at <span class="analyst">Citi</span> has added shares of Kellogg (NYSE: K ) to the firm's Top Picks Live List today.<span class="analyst">Citi</span> maintains a Buy rating and $61 price target.</span> Tweet this   read full story

That should result in full year net sales ranging from flat to up 1 percent, excluding currency fluctuations, the company said. The company sees "a better back half, but we're not calling for any runaway turnaround," Chief Executive David Mackay said in an interview, noting that consumers remain focused on buying products that are on sale. Mackay said industry wide promotions, fueled by rival cereal maker Ralcopr Holdings Inc , may ease in future quarters as food manufacturers seek to maintain profit margins in the face of rising commodity costs. He said it was premature to discuss the pricing outlook for next year 
Share:  That should result in full year net sales ranging from flat to up 1 percent, excluding currency fluctuations, the company said. <span class="sent">The company sees "a better back half, but we're not calling for any runaway turnaround," Chief Executive <span class="analyst">David Mackay</span> said in an interview, noting that consumers remain focused on buying products that are on sale.</span> Mackay said industry wide promotions, fueled by rival cereal maker Ralcopr Holdings Inc , may ease in future quarters as food manufacturers seek to maintain profit margins in the face of rising commodity costs. He said it was premature to discuss the pricing outlook for next year....The company sees "a better back half, but we're not calling for any runaway turnaround," Chief Executive David <span class="analyst">Mackay</span> said in an interview, noting that consumers remain focused on buying products that are on sale. <span class="sent"><span class="analyst">Mackay</span> said industry wide promotions, fueled by rival cereal maker Ralcopr Holdings Inc , may ease in future quarters as food manufacturers seek to maintain profit margins in the face of rising commodity costs.</span> He said it was premature to discuss the pricing outlook for next year. RECALL PRESSURES SALES, PROFIT. Tweet this   read full story

Frozen and specialty channels product sales were down 9%, as Eggo sales continued to suffer from a shortage/supply disruption resulting from flooding last fall in an Atlanta waffle factory and equipment changes/slowed production at a key Tennessee waffle factory in last year's second half. Kellogg now has sufficient supply to begin advertising/trade promotions for the brand, and expects its sales to show modest growth in the second half as a result of advertising, new additions to the line such as Eggo Cinnabon Pancakes, and increased retailer freezer space for the brand, COO/CFO John Bryant said during the quarterly call. North American snack sales rose 1%. Crackers and cookies were down, but Pop Tart sales rose by mid single digits and launches. including new varieties of Town House Flatbread Crisps, 100 Calorie Right Bites Brownie Minis, Special K Fruit Crisps and FiberPlus extensions such as Antioxidant Bars. 
Share:  Frozen and specialty channels product sales were down 9%, as Eggo sales continued to suffer from a shortage/supply disruption resulting from flooding last fall in an Atlanta waffle factory and equipment changes/slowed production at a key Tennessee waffle factory in last year's second half. <span class="sent"><span class="company">Kellogg</span> now has sufficient supply to begin advertising/trade promotions for the brand, and expects its sales to show modest growth in the second half as a result of advertising, new additions to the line such as Eggo Cinnabon Pancakes, and increased retailer freezer space for the brand, COO/CFO <span class="analyst">John Bryant</span> said during the quarterly call.</span> North American snack sales rose 1%. Crackers and cookies were down, but Pop Tart sales rose by mid single digits and launches. including new varieties of Town House Flatbread Crisps, 100 Calorie Right Bites Brownie Minis, Special K Fruit Crisps and FiberPlus extensions such as Antioxidant Bars. Tweet this   read full story

In consideration of its poor performance this quarter, Kellogg lowered its full year earnings per share forecast to reflect gowth of just 8% 10%, from 11% 13% previously. Kellogg's CEO David MacKay says the company adjusted guidance to "reflect the cost of the recall and the difficult business environment." "However," MacKay continues, "we are anticipating a stronger back half driven by increased innovation, reinvestment in our business, and gradual improvement in category trends.". Shares of Kellogg were down 4.9%, or $2.52, to $49.00. Big names in the cereal industry have faced a challenging year, with Kellogg down 7.9% to date and General Mills ( GIS , news , people ) down 2.5%. 
Share:  In consideration of its poor performance this quarter, <span class="company">Kellogg</span> lowered its full year earnings per share forecast to reflect gowth of just 8% 10%, from 11% 13% previously. <span class="sent"><span class="company">Kellogg</span>'s CEO David MacKay says the company adjusted guidance to "reflect the cost of the recall and the difficult business environment." "However," MacKay continues, "we are anticipating a stronger back half driven by increased innovation, reinvestment in our business, and gradual improvement in category trends.".</span> Shares of <span class="company">Kellogg</span> were down 4.9%, or $2.52, to $49.00. Big names in the cereal industry have faced a challenging year, with <span class="company">Kellogg</span> down 7.9% to date and General Mills ( GIS , news , people ) down 2.5%. Tweet this   read full story

Earlier this spring, it forecast the figure would rise between 11 percent and 13 percent. Kellogg also said it temporarily closed a plant at its headquarters in Battle Creek, Mich., on Tuesday due to a nearby oil spill on the Kalamazoo River, but the food maker said operations are now back to normal. The company said officials have assured them the air and water quality is safe. 
Share:  Earlier this spring, it forecast the figure would rise between 11 percent and 13 percent.<span class="sent"> <span class="company">Kellogg</span> also said it temporarily closed a plant at its headquarters in Battle Creek, Mich., on Tuesday due to a nearby oil spill on the Kalamazoo River, but the food maker said operations are now back to normal.</span> The company said officials have assured them the air and water quality is safe. Tweet this   read full story

Costs for recall hit Kellogg 2Q, cuts outlook. 
Share:  <span class="sent">Costs for recall hit <span class="company">Kellogg</span> 2Q, cuts outlook.</span> Tweet this   read full story

Cereal company Kellogg Co said Thursday that its second quarter profit fell to $302 million, or 79 cents a share, from $354 million, or 92 cents, a year earlier. Sales dropped to $3.06 billion from $3.23 billion. 
Share:  <span class="sent">Cereal company <span class="company">Kellogg</span> Co said Thursday that its second quarter profit fell to $302 million, or 79 cents a share, from $354 million, or 92 cents, a year earlier.</span> Sales dropped to $3.06 billion from $3.23 billion. Tweet this   read full story