U.S. Markets closed

Kellogg 2013 guidance exceeded expectations, says Citigroup

Citigroup notes that Kellogg's 2013 EPS guidance, which takes into account an accounting change, is $3.82 to $3.91, above the consensus of $3.69. Citi notes that some estimates making up the consensus contained the accounting change, and some did not. However, the firm thinks Kellogg's guidance on a comparable basis exceeded expectations, and should drive consensus estimates higher. As such, Citi expects the outlook to be viewed positively.