Chiquita Brands (CQB) said last night after the bell that weak demand for bananas in Europe will pull down its first quarter results.
Banana volume in Europe is down 13 percent, in conjunction with 11 percent lower pricing, compared to last year.
The company also announced a European fruit beverages joint venture with Danone yesterday, on a product called “Just Fruit in a Bottle.”
Agricultural and food packaging company Landec (NASDAQ:LNDC) posted 13 percent higher fiscal third quarter profits yesterday, of $1.7 million, or 7 cents per share, as compared to $1.5 million, or 6 cents per share, in the same quarter last year.
Revenue rose 8 percent to $58.1 million, driven by the fresh-cut veggies division.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.