Kellogg Slips To Sell
Following the third quarter 2011 earnings, we have downgraded our recommendation on Kellogg, Inc. (NYSE:K) to Sell from Hold. Kellogg posted weak third-quarter 2011 earnings of 80 cents per share, which lagged the Zacks Consensus Estimate by 10.1% and the prior-year earnings by 11%, on the back of economic slowdown, increased cost of goods sold, [...]
Following the third quarter 2011 earnings, we have downgraded our recommendation on Kellogg, Inc. (NYSE:K) to Sell from Hold.
Kellogg posted weak third-quarter 2011 earnings of 80 cents per share, which lagged the Zacks Consensus Estimate by 10.1% and the prior-year earnings by 11%, on the back of economic slowdown, increased cost of goods sold, increased supply-chain costs and reinstatement of incentive compensation costs.
The cost of commodities, energy and fuel soared and peaked in the year, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards