Food brands company reiterates full-year earnings outlook
Shares of Conagra Brands Inc. rose 2.3% in premarket trading Thursday, after the food brands company reported a fiscal first-quarter adjusted profit that rose above expectations, while sales fell a bit short amid challenging consumer purchasing behavior.
Conagra’s stock CAG, has dropped 21.2% over the past three months through Wednesday, while the Consumer Staples Select Sector SPDR ETF XLP has shed 8.4% and the S&P 500 index SPX has lost 4.1%.
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