11:44 am ConAgra Foods Steadies Things in First Quarter
ConAgra Foods (CAG 32.90, +0.90) reported its fiscal first quarter results this morning and its stock is trading higher today in response. The upward bias isn't owed to the belief that ConAgra's results were great. They weren't. What they were was good enough to support the company's notion that fiscal 2015 will be a year of stabilization and recovery.
To be sure, ConAgra didn't have a lot of growth to report. Total sales were down 0.4% to $3.7 billion and diluted earnings were up 5.4% to $0.39 per share on an …More