4 Consumer Stock Stories Creating a Midweek Buzz
Green Mountain Coffee Roasters, Inc. (NASDAQ:GMCR): Closing price $74.56
Green Mountain employees are working to dispose of trash in and around rivers in the communities surrounding the firm’s sites. As part of the firm’s Community Action For Employees volunteerism program, GMCR employees from the states of Washington, Tennessee, Vermont, and Massachusetts will participate in river cleanups in their own regions. All told, four cleanup events will go forward this summer at different Green Mountain locations connected with American Rivers’ National River Cleanup, which is a nationwide attempt to keep America’s waterways clean.
J.C. Penney & Co. (NYSE:JCP): Closing price $15.92
Citigroup analyst Deborah Weinswig reports that Senior Vice President Paul Rutenis, the top buyer for J.C. Penney’s new Home department has exited the company, as it is believed that the department was unable to lure significant customer interest. The department’s high prices have put off demand for its products, said Weinswig, who also said that the departure of Rutenis and other marketing consultants emphasize the challenges facing the historic retailer.
SUPERVALU Inc. (NYSE:SVU): Closing price $7.91
On Wednesday, the company said that it has chosen Bruce Besanko as its executive vice president and chief financial officer, effective August 7. Besanko joins SUPERVALU subsequent to serving as executive vice president of finance, chief financial officer and chief administrative officer for OfficeMax, where he helped to build up that firm’s balance sheet and to transform business-to-business and retail segments for the global office supply company following his appointment in 2009.
PepsiCo Inc. (NYSE:PEP): Closing price $85.64
PepsiCo has responded negatively to activist investor Nelson Peltz’s advice to spin off its soft drinks arm and buy the Oreo and Ritz maker Mondelez International. Chief Executive Indra Nooyi, speaking on the company’s Wednesday conference call, effectively dismissed Peltz’s well-publicized idea, in her answer to a question from an analyst, commenting that, “PepsiCo is an extremely well-architected portfolio geographically and from a productive perspective, we are hitting our stride. Every part of the business is functioning well and we do not need large scale M&A to deliver on our financial goals. We do have a strategy to focus on tuck-in acquisitions and we’ve said, tuck-in acquisitions in any year, maybe $500 million or less and that’s all we’re focused on. And I would look beyond the noise and let’s just focus on PepsiCo and the performance of the company.” PepsiCo posted a better-than-expected second-quarter profit Wednesday, while higher sales of Frito-Lay snacks outweighed declines in the Americas beverages business.
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