ConAgra shares rise on strong earnings report
6/21/12 10:29 AM ET (MarketWatch)
SAN FRANCISCO (MarketWatch) -- ConAgra Foods Inc. shares rose as much as 3% at the open Thursday to lead percentage gainers on the S&P 500. The gains follow the company's pre-market fiscal fourth-quarter earnings report. While the Omaha, Neb.-based packaged food company swung to a loss on pension-related accounting charges, its adjusted earnings were 51 cents a share, up 9% from a year ago and a penny above the consensus view among analysts surveyed by FactSet Research. The company said it expects to achieve per-share earnings growth of 6% to 8% in fiscal 2013. ConAgra shares were last trading 3.2% higher at $25.39. Including this latest advance, the stock is up 1.9% over the past 12 months.