the company says earnings/sales in consumer products --and lower expectations--failed to match the exuberant hopes expressed by the CEO earlier in the year. the explanation for the miss is carefully disguised in the cluttered wordage--as usual--in the press releases. why not come out and say we failed to meet our forecasts because,,,etc. ?? my guess is the main reason for the poorer showing is not making hay of the
synergies with the Ralcorp deal.....how to smoothly mesh ralcorp's operations with Cag's. that deal to take over ralcorp was mighty expensive--a heavy long-range debt burden for Cag. and so far, not paying off as hoped.
In a word ... yep. My thoughts exactly. I thought they paid too much and got lucky to dump some shares while she was up a bit. You can however sleep good at night knowing that it is not a tech stock that will become obsolete. I am figuring it is worth 36 to 38 so long as they get the expenses and revs back on track for the rest of the year. We shall see. I bought some today.