Today, U.S. Markets are closed for Thanksgiving Day.
On Wednesday, Shares of Mondelez International, Inc. (NASDAQ:MDLZ), lost -0.11% to $43.93.
Mondelez International, declares recently pricing and the results for its formerly declared tender offer (the “Offer”) for its outstanding £350,000,000 7.25 per cent. Notes due July 2018 (ISIN:XS0377058614) (the Notes).
The Offer was made on the terms and subject to the conditions set out in the Tender Offer Memorandum dated November 17, 2015 (the Tender Offer Memorandum).
Copies of the Tender Offer Memorandum are available from the Tender Agent as set out below and on the Company’s website at www.mondelezinternational.com/investors. Capitalized terms used in this declaration but not defined have the meanings given to them in the Tender Offer Memorandum.
Mondelez International, Inc., through its auxiliaries, manufactures and markets snack food and beverage products worldwide. The company offers biscuits, counting cookies, crackers, and salted snacks; chocolates, and gums and candies; powdered beverages and coffee; and cheese and grocery products. Its primary brand portfolio comprises LU, Nabisco and Oreo biscuits; Cadbury, Cadbury Dairy Milk, and Milka chocolates; Trident gum; Jacobs coffee; and Tang powdered beverages. Mondelez International, Inc. sells its products to supermarket chains, wholesalers, supercenters, club stores, mass merchandisers, distributors, convenience stores, gasoline stations, drug stores, value stores, and other retail food outlets through direct store delivery, company owned and satellite warehouses, distribution centers, and other facilities, in addition to through independent sales offices and agents.
Shares of Norfolk Southern Corporation (NYSE:NSC), inclined 0.90% to $95.40, during its last trading session.
Norfolk Southern Corporation Executive Vice President and Chief Marketing Officer Alan H. Shaw will make a presentation at the Credit Suisse 3rd Annual Industrials Conference.
What: Credit Suisse 3rd Annual Industrials Conference
When: Wednesday, Dec. 2, noon EST
Where: Eau Palm Beach Resort & Spa, Palm Beach, Fla.
Norfolk Southern Corporation, together with its auxiliaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. As of December 31, 2014, it operated about 20,000 miles of road in 22 states and the District of Columbia.
Finally, Shares of Campbell Soup Company (NYSE:CPB), ended its last trade with 2.32% gain, and closed at $52.52.
Campbell Soup Company, stated its first-quarter results for fiscal 2016.
Change in Method of Accounting for Pension and Postretirement Benefits
In fiscal 2016, Campbell elected to change its method of accounting for its defined benefit pension and postretirement plans in order to provide greater transparency into financial results. This change has no impact on cash flow. Under the new method, actuarial gains and losses will be recognized right away in the Merged Statements of Earnings following a measurement date rather than amortized over several years.
The change in accounting method has been retrospectively applied to prior periods. The periodic mark-to-market adjustment will be reflected as an item impacting comparability and excluded from adjusted results.
CEO Comments
Denise Morrison, Campbell’s President and Chief Executive Officer, said, “We’re encouraged by our first-quarter performance. While organic sales for the quarter were comparable to a solid prior year, we recognize that we have more work ahead to improve our growth trajectory. I am particularly happy that we delivered a third successive quarter of adjusted gross margin expansion with improved execution in our supply chain. We drove strong adjusted EBIT and EPS performance across the company. Given an improved margin outlook for the year, we raised guidance for adjusted EBIT and EPS, while we lowered sales guidance to reflect raised currency headwinds.
“We began fiscal 2016 after successfully implementing a number of changes to align our enterprise structure with our strategy. Most noteworthy among those changes were the formation of three new divisions with clear portfolio roles and the roll-out of a major cost savings initiative that comprised streamlining our organization, the launch of an Integrated Global Services organization and initiating zero-based budgeting. In addition, we have revised our reporting segments to reflect our new structure. We have made clear and meaningful progress and commence the new fiscal year better positioned to execute against our planned imperatives.”
Campbell Soup Company, together with its auxiliaries, manufactures and markets convenience food products. It operates through U.S. Simple Meals; Global Baking and Snacking; International Simple Meals and Beverages; U.S. Beverages; and Bolthouse and Foodservice segments.
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