Diamonds and Dogs
Conagra Brands (CAG) actually raising guidance. The maker of Hunts tomato sauce and Chef Boyardee is up 2% after reporting inline earnings, but then raised guidance as the coronavirus pandemic has pushed consumer demand through the roof for groceries, snacks and filling up the pantry. On a quarter-to-date basis, shipments and consumption in domestic retail business has increased nearly 50%.
Domino's (DPZ) seeing softer demand. The pizza maker is down 6% after reporting weak same-store sales. Domino's already has a massive delivery infrastructure but no sporting events, colleges closed and consumers preferring to eat canned and frozen foods for now are huritng sales. Same-store sales in China are recovering in the last few weeks of the quarter.
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