To: scope who wrote (41482 ) 5/22/1999 12:23:00 AM From: Jenna Respond to of 120523
Our earnings play: Keebler quarterly profits more than double.. Don't waste the earnings plays as 'one hit wonders' If a company stock is in a short slump and the earnings report is very good, expect the stock to retrace recent highs. It might not pop the 3 or 4 points of an "ADCT" or "MACR" but it could have a steady rise of 10+ points and all you have to do is put in a stop. ((((((((((((((((((((((((((((((((((((((((((((( ELMHURST, Ill., May 21 (Reuters) - No. 2 cookie and cracker maker Keebler Foods Co. (NYSE:KBL - news) said Friday its fiscal first quarter profits more than doubled to $32.7 million, as acquisitions boosted revenues. The maker of Cheez-It crackers and Girl Scout cookies said it earned 37 cents a share in the quarter ended April 24, compared with last year's $14.0 million, or 16 cents a share. The earnings per share topped Wall Street expectations for 35 cents, according to First Call Corp., the research firm which tracks such data. Net sales rose 34 percent to $852.0 million from $636.7 million a year ago. Keebler said the recently acquired President International Inc. added $195.0 million in sales. President makes Girl Scout and Famous Amos cookies. ''Keebler's continued success reflects our sound marketing strategies, ongoing operational improvements and the initial benefits from the President acquisition,'' Sam Reed, chief executive officer, said in a statement. (((((((((((((((((((((((((((((((( This today from Bloomberg news: Food Stocks - David Nelson of Credit Suisse First Boston -KLB Keebler doing well in struggling market Going up while food industry is headed down KBL.. noteworthy, for longer term traders Relative, moving up from low numbers, buying opportunity Keebler will benefit 10c/share in 99 And 20c/share in 2000 Recommended buy Expects doubling of earnings in next 3yrs