Tag: $Kellanova

US confectionery giant to pay $83.50 per share for snack rival

Shares of Pringles maker Kellanova surged about 22% in trading before the bell on Monday, after a Reuters report said candy giant Mars was exploring a potential buyout of the company.

Kellanova the packaged food giant formerly known as Kellogg, said Thursday it had net income of $267 million, or 78 cents a share, in the first quarter, down from $298 million, or 86 cents a share, in the year-earlier period. Sales fell to $3.200 billion from $3.342 billion a year ago.

Shares of Kellanova formerly known as Kellogg, climbed 2% ahead of Thursday’s open, as the snacks and cereal company, with brands including Pop-Tarts, Cheez-It and Special K, beat fourth-quarter earnings expectations, as price increases offset a decline in volume and the divestiture of its business in Russia.

Shares of Kellanova, formerly known as Kellogg, rose 2.1% toward a five-week high in premarket trading Wednesday, after the snacks and frozen foods company beat third-quarter profit expectations, but missed on revenue and provided a downbeat outlook.