Stock Traders Daily has bad news for ConAgra Foods:
ConAgra Foods, Inc. (NYSE:CAG), the maker of Chef Boyardee, Healthy Choice and Peter Pan, reported disappointing earnings last week, as the company said its net income for the first quarter was $144.3 million or $0.34 per share, down from $250.1 million or $0.61 per share in the same period last year. Sales also have missed views the past two quarters. Private label and organic food competitors have been cutting into the company’s profits. The stock is down over 16% from its highs in early August.