According to The Wall Street Journal, Campbell Soup (NYSE: CPB) plans on executing a nice buyback program for its stock. The company will repurchase perhaps as much as 10% of its shares over time. Also, earnings will probably come in near the top point of the previously stated range. So, should you rush in and invest in Campbell just because of this buyback?

My opinion: Probably not if you're looking to merely trade the name, but if you're looking to hold for the long term, you'll probably be all right. Although Campbell Soup's stock isn't near a 52-week low as of this writing, I notice that Coca-Cola (NYSE: KO), PepsiCo (NYSE: PEP), and Kraft (NYSE: KFT) aren't too far from theirs. It's been a crazy time for the markets, and it amazes me that a stock like Coke isn't being perceived as a safe haven. I know there are some reasons out there for its weakness in terms of growth prospects and the like, but still, I've watched it drop quite a bit in very recent times (I own Coke), and I'm a bit surprised at its current price action considering the recession.

So, even though Campbell's buyback is great news for shareholders who already own the stock, I'm not sure I'd initiate a position myself. Although I am looking for stocks to buy, I just haven't been able to ignore the technical damage that's been inflicted upon the big averages by the bears and am reticent at putting new money to work in short-term trades. I think management might be doing the right thing with its buyback from a shareholder standpoint, but from a trading perspective, I would not be buying along with them.

Disclosure: I own Coke; positions can change at any time.

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This post is part of our Big Company, Small Town series, featuring large companies and the small towns in which they are headquartered.

There are probably very few people growing up in North America that have not had Kellogg's (NYSE: K) cereal at some time. I know people that have breakfast cereal for lunch or diner as well. It is the number one U.S. breakfast cereal maker, ahead of General Mills (NYSE: GIS). Among its well-known brands are Frosted Flakes and Rice Krispies.

The company, founded by Keith (W.K.) Kellogg and brother, Dr. John Harvey Kellogg, began with only 44 employees in 1906. Today it employs more than 30,000 people, manufactures in 18 countries, and sells products in more than 180 countries.

Kellogg is a big company in a small town but it is not alone. Battle Creek, Michigan, known as the "Cereal City," is the world headquarters of Kellogg Company and also the home of Post Cereals, which was part of General Foods Corporation and is now part of Kraft Foods (NYSE: KFT). When Kellogg started, there were 42 other cereal companies in Battle Creek.

Looking at the history, the village of Battle Creek began as a market and mill center for prairie farmers. The introduction of rail lines supported farming and the distribution of farm products, and the cereal companies clustered there in the same way that Detroit became the home of the auto industry or the movie business developed with its focal point in Los Angeles.

During the Great Depression, Kellogg altered its production schedule from three to four shifts to keep putting paychecks in people's hands, built a 10-acre park around their plant, and started the W.K. Kellogg Foundation, establishing a clear pattern of investing in the people and supporting their town. There is even a W.K. Kellogg Airport.

Kellogg has been trading between $46.25 and $56.89 over the past 52 weeks. I do not know what to make of its key ratios, which indicate some positives along with some puzzles. Somehow Kellogg has managed to generate a ROE of almost 48% -- that's amazing. Part of the reason is that it seems to have a substantial amount of debt on its books, so it must be using some leverage to achieve that.

A recent press release, Kellogg Company Reports Progress on Its Global Health and Nutrition Initiatives, suggests the company is not sitting idle but trying to focus on growth (and cost cutting) while its source material, all sorts of grains, keep rising in price.

The price-to-sales (TTM) seems fair, but I am put off by the price-to-book of almost 9. At 19, its P/E is higher than average, but it also pays a higher than average dividend yield of 2.38%.

Among the types of consumer goods that look like safe bets in a soft economy I would think Kellogg would be a relatively inert one, but I do not know that I would favor it over an index fund unless I was getting a deep discount.

Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm. He writes the columns Chasing Value and Serious Money. Disclosure: I do not own shares of any stock mentioned.

Be sure to check out more Big Company, Small Town posts.

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Well-known maker of peanut-butter and jelly products J.M. Smucker (NYSE: SJM) reported earnings for Q4 and the full fiscal year on Thursday. The market didn't like the report in the least. The stock closed down well over 8% at the end of yesterday's session.

Here's what happened. For the fourth quarter, net sales increased 20%, but that was little consolation to the bottom line, which dropped 11%, as earnings per diluted share came in at $0.67 versus $0.75 in the year-ago period. The top line also was the beneficiary of some inorganic growth based on acquisitions. If you adjust for certain items, bringing the earnings up to $0.73 per diluted share, the decrease in the bottom line improves to 3%, but a decline in this case is still a decline. Plus, earnings expectations were not met. The company came in five pennies shy of Wall Street's wishes, according to estimates posted at earnings.com.

For the fiscal year, J.M Smucker's top line increased 18%, also due in part to acquisitions. On both a reported and an adjusted basis, earnings per diluted share jumped 9% to $3.00. Margins really suffered during the quarter and the year. Input costs are inflating, and they're becoming difficult to manage.

So, is J.M. Smucker a good stock idea right now? After all, it did recently buy the Folgers brand from Procter & Gamble (NYSE: PG), an event that Tom Taulli recently opined on.

For me, the answer is no. It's a cool consumer-products company, I see its stuff all the time at the supermarket, but I favor other consumer-based businesses out there with stronger brand equities, such as Kraft (NYSE: KFT), for example. With the stock at the low end of its 52-week range, with input costs wreaking havoc on margins, and with growth based in part on the inorganic effects of acquisitions, I don't see a reason to place a bet on J.M. Smucker at the moment. I'd rather sit on the sidelines and check out more quarterly data as it is handed down to us in the coming months.

Disclosure: I don't own any company mentioned here; positions can change at any time.

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Talk about a tough time in the markets. Between the financial crisis and oil prices rising on an almost daily basis, with the Fed damned if it raises rates and damned if it doesn't, the floods in the Midwest are now threatening to make a trip to the supermarket much more expensive. Yes, break out the coupons and pray for sales, because, according to The Wall Street Journal [subscription], food prices are destined for one direction: higher. That's because a lot of farmland has been damaged, throwing the supply-demand dynamic into chaos.

What does this mean for investors? Look for potential pressure on the stocks of companies such as Coca-Cola (NYSE: KO), PepsiCo (NYSE: PEP), Kraft (NYSE: KFT), Kellogg (NYSE: K), General Mills (NYSE: GIS), and Hershey (NYSE: HSY). I happen to own Coke, and I've heard the news reports talking about how higher corn prices will affect Coke and Pepsi because they use corn syrup as an ingredient for their sodas. It's also been pointed out by others that PepsiCo owns Frito-Lay, and since that company manufacturers salty snacks such as Doritos and Tostitos (I love them both), corn prices will also have an impact on that division.

If you're a trader, be wary. We might be in for a rough ride this summer with not only the stocks I've mentioned here, but in a general sense. Since I own Coke, I've been acutely aware of the pullback experienced in that stock as the external pressures surround it. As I write this, the stock is trading at $54.27. The shares were over $65 during their wonderful stay at the 52-week-high suite. So, yes, buyers with short-term mentalities must be wary. However, long-term investors should look upon any pullbacks as potential opportunities for some of these food-selling companies. If you don't intend to trade, then adding to a Coke or Pepsi position might make sense.

Disclosure: I own Coke; positions can change at any time.

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• Cardinal Health (NYSE: CAH)
• Chevron Corp (NYSE: CVX)
• Exxon Mobil (NYSE: XOM)
• General Dynamics Corp (NYSE: GD)
• Goldman Sachs Group (NYSE: GS)
• JPMorgan Chase (NYSE: JPM)
• Northrop Grumman (NYSE: NOC)
• Pfizer (NYSE: PFE)
• Raytheon Company (NYSE: RTN)

• Automatic Data Processing (NYSE: ADP)
• Adobe Systems (NASDAQ: ADBE)
• Avon Products (NYSE: AVP)
• Black and Decker (NYSE: BDK)
• Cisco Systems (NASDAQ: CSCO)
• Coca-Cola (NYSE: KO)
• Costco Wholesale (NASDAQ: COST)
• Kraft Foods'A' (NYSE: KFT)
• Suntech Power Hldgs ADS (NYSE: STP)

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This post is part of a series on some of the most memorable companies that have disappeared.

The history of General Foods can be traced back to the Postum Cereal Company, founded by Charles William Post, inventor of Postum and Grape Nuts, in 1895. Wall Street player E.F. Hutton in time became the chairman, and he initiated a series of acquisitions beginning in 1925: Jell-O, Minute Tapioca, Log Cabin, Hellmann, Calumet Baking Powder, and Birdseye. It was after the Birdseye acquisition in 1929 that the food conglomerate became General Foods.

Among General Foods' many product offerings were Sanka decaffinated coffee and the astronaut's favorite, Tang. General Foods also continued to make acquisitions, including the makers of Kool-Aid in 1953, the Burger Chef restaurant chain in 1968, and Oscar Mayer in 1981.

But late in 1985, General Foods was itself acquired by Philip Morris Cos., which later became Altria Group (NYSE: MO), in the largest non-oil acquisition to date. When Philip Morris acquired Kraft in 1988, the two food companies were merged. In 2007, Altria spun off Kraft Foods (NYSE: KFT), which now owns such former General Foods brands as Jell-O, Kool-Aid, and Maxwell House coffee. And it was announced in late 2007 that Post Cereals, including Grape Nuts, would be sold to Ralcorp Holdings (NYSE: RAH).

So although General Foods may be gone, many of its most popular brands can still be found on supermarket shelves.

Let us know in the comments what you miss about General Foods. And be sure to check out other Companies That Have Vanished.

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I love coupons; who doesn't? They are, arguably, one of the most important marketing tools used by companies such as Procter & Gamble (NYSE: PG), Colgate-Palmolive (NYSE: CL), and General Mills (NYSE: GIS). I also love coupon distribution on the web, so I'm hoping a new technology reported on by BusinessWeek really takes off.

A company called Coupons, Inc. has developed a system dubbed Brandcaster. It essentially follows Google's (NASDAQ: GOOG) model of monetization. Depending on where you are on the web and what you are looking at, the Brandcaster will determine if a coupon may be applicable to you. It will then try to get you to access the coupon and print it up. Web sites who use the application will be given a cut of revenues generated from successful coupon printings. So, speaking hypothetically, if I'm on a site that's dedicated to video games, maybe this Brandcaster thing will someday tell me that I can print up a coupon allowing me to get $5 off a new software title.

If this is promoted properly, and if the value to consumer companies can be adequately communicated, then I think Coupons, Inc. has a hit on its hands. Like I say, people love coupons, and I think they are more likely to act on printing out a coupon then they are to, say, buy a product immediately online through a banner ad. I see this kind of advertising as being more effective over the long-term than other kinds of ads.

But, there's a significant challenge, in my opinion, to Coupons, Inc. and Brandcaster. I'm not sure how it is in all parts of the country, but in my area, there are many businesses, including a major regional supermarket chain, that are either very suspicious of Internet coupons or don't accept them at all. There's a good reason for this that probably goes without saying, but I'll say it anyway: the chance for counterfeit coupons is always there. I think web-coupon distributors are still a long way off from finding quality solutions to the piracy issue (or at least, that's the current perception from where I sit).

Nevertheless, I think this Brandcaster is neat. Companies signed up so far for the program include Kraft (NYSE: KFT), Kimberly-Clark (NYSE: KMB), and Clorox (NYSE: CLX), as well as the aforementioned General Mills. Apparently 200 coupons will be distributed to over 3,000 websites initially, with hopes that the network can grow to over ten times as many websites in a short period of time. I think this has a great chance for success.

Disclosure: I don't own any companies mentioned here; positions can change at any time.

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Is there anything cooler than Kool-Aid? Kraft (NYSE: KFT) believes there is, my friends. In fact, Kraft thinks a healthier Kool-Aid is pretty darn hip!

According to this AP article, Kraft wants to position the Kool-Aid brand to health-conscious moms as a beverage that is okay for kids to consume. The food company will be adding vitamin E to one of the Kool-Aid varieties, and it has reformulated its sugar-free lineup to improve the taste. There's also a new Kool-Aid product on the market called Burstin' Waters that is supposed to be relatively healthy.

The company actually has been pretty good about trying to make its products not as junky. As the article states, Kraft introduced an initiative a few years back to create a set of nutritional guidelines that would aid the company in making its portfolio more in tune with the current zeitgeist; indeed, moms everywhere seem to be getting sick of putting sugary, fat-inducing foodstuffs into the stomachs of their kids. Of course, I'm sure kids still get away with eating junk at times (it's like an inalienable right of the youth); for the most part, though, consumer choices are shifting, and woe be the consumer-goods entity that does not respond. Just ask Coca-Cola (NYSE: KO) and PepsiCo (NYSE: PEP). Those two have been kicking it into high gear when it comes to alternatives to sugary carbonated sodas. Pepsi and Coke now offer all kinds of waters and enhanced beverages; in Pepsi's case, many of its salty-snack products are decidedly healthier. Coke purchased VitaminWater last year, and has been doing well with it. And with vitamins all the rage, Kraft would be smart to really promote the heck out of that vitamin-E addition.

From this point on, the public is going to increasingly demand food and drink of a higher quality, consumables that can promote wellness. Kraft needs to sell the public on its new Kool-Aid, especially since, no matter how much improved it is, it still is, well, Kool-Aid. It'll never be the healthiest thing on the market, but with the right campaign, perceptions can change, and sales can grow. Kool-Aid is still a famous brand, and little evolutions like this can help it remain relevant.

Disclosure: I own shares of Coca-Cola; positions can change at any time.

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Hormel Foods (NYSE: HRL), a foodstuffs processor whose colleagues include ConAgra Foods (NYSE: CAG) and Kraft (NYSE: KFT), issued its Q2 numbers on Thursday. Revenues jumped 6% to $1.6 billion, although the growth rate was only 4% if you look at just the amount credited to organic appreciation. Net earnings per diluted share rose 14% to $0.56 per share. Volume jumped 5% altogether, and 3% based on, once again, organic growth.

This wasn't a bad earnings report for a major supermarket brand, although it certainly wasn't overly stimulating, either. So, you wanna take a guess as to by how much Hormel beat earnings expectations? If you said "by the proverbial penny," then you just might be a Wall Street junkie! Seems like so many companies got the penny-thing down pat. Anyway, Briefing.com not only said that earnings were better by a penny, but that revenues came in pretty much as expected.

Basically, Hormel is trying to navigate this inflationary environment as best it can. As we all know, it's pretty competitive out there in the grocery aisles even during prosperous periods. But take a look at the cash-flow statement and you'll see that the company did pretty well in terms of net cash from operations. That metric soared almost 30% over the six-month period. Only problem is, not too much was left over after capital expenditures and dividend payments were taken into account. Still, Hormel seems reasonably fine for now on the cash-flow front.

I'm not necessarily interested in Hormel's stock at this time. If I wanted to get in, I certainly would look to pick up shares at a higher yield; there are better opportunities out there for dividend yield, in my opinion. As Joseph Lazzaro observed a couple months back, Hormel is definitely an interesting defensive name during challenging economic times, and I did enjoy the double-digit bottom-line growth. I just think investors would be better off if this one came down a bit in terms of share price.

Disclosure: I don't own shares in any company mentioned here; positions can change at any time.

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MOST NOTEWORTHY:

• B. Riley initiated Learning Tree (NASDAQ:LTRE) with a Buy rating and $24 target. The firm believes investors have an opportunity to invest in a compelling revenue growth/margin expansion story at reasonable multiples with the stock off recent highs.
  
• Merriman started Shengda Tech (NASDAQ:SDTH) with a Buy rating and points to the company's growing nano-particle business and the vast market expansion opportunities associated with this business.
  
• Stephens believes Cepheid (NASDAQ:CPHD) possesses a best-in-class platform for molecular diagnostic testing with a virtual monopoly in the molecular point of care market; shares were assumed with an Overweight rating and $32 target.

• Visa (NYSE:V) was started at Morgan Keegan with a Market Perform rating.
  
• Morgan Stanley initiated Dr. Pepper Snapple (N YSE:DPS) with an Equal Weight rating and $30 target.
  
• Goldman initiated Kraft Foods (NYSE:KFT) with a Neutral rating.

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This post is part of our Battle of the Brands feature. Let us know which brand you prefer, and check out other Battle of the Brands posts.

Drinkers of fine coffee may turn their noses up at Folgers or Maxwell House, but these two brands have been household names for decades. And they're not the just offering plain, old coffee for the commoners anymore. They've both added a variety of coffees to their product mixes in an effort to lure more upscale (picky? elitist?) coffee drinkers to their brands.

Folgers, one of the Procter & Gamble (NYSE: PG) family of products, has added roasts such as Black Silk, French Roast, Gourmet Supreme, and House Blend. They've also got a line of flavored coffees that include Crème Brulee, Vanilla Biscotti, and Caramel Drizzle. You will also find instant cappuccino in French Vanilla and Mocha Chocolate flavors, and the trusty old plain instant coffee is still available. I've had it, and it's not all that bad when you're in a pinch!

Maxwell House, a part of Kraft Foods Inc. (NYSE: KFT), has also added a variety of roasts and flavors to its lineup of coffees. The roasts include Master Blend, Columbian Supreme, Breakfast Blend, and House Lite. The flavors are limited to Vanilla or Hazelnut. Just like Folgers, Maxwell House still offers its old-fashioned instant coffee.

Vote in our poll for Folgers or Maxwell House as your preferred brand, and let us know in the comments why you love it.

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This post is part of our Battle of the Brands feature. Let us know which brand you prefer, and check out other Battle of the Brands posts.

While Kraft Foods Inc.'s (NYSE: KFT) Oscar Mayer brand and ConAgra Food Inc.'s (NYSE: CAG) Hebrew National may both have venerable histories, they also have very different personalities: "I wish I were and Oscar Mayer wiener" vs. "We answer to a higher authority."

In 1900, Oscar Mayer and his brothers ran one of the most popular sausage makers in Chicago. They pioneered the use of brand names and voluntary federal approval to protect the reputation of their products. The company was the first to offer packaged sliced bacon. Such innovations helped Oscar Mayer to become an industry leader. The first wiener-mobile rolled out in 1936, and its descendants can still be spotted today. The famous Oscar Mayer jingle was introduced in 1963, and today is one of the longest-running jingles still in use. In 1988 the company launched its Lunchables, prepacked cracker-and-cold-cut school lunches. Oscar Mayer became a Kraft Foods brand in 1989.

Kraft Foods is the largest U.S. food company, with $37.2 billion in sales in 2007. Oscar Mayer is one of seven Kraft Foods brands with more than $1 billion in revenue. The convenience meats category accounted for about 16% of total revenue.

Hebrew National was founded in 1905 in New York City's Lower East Side, and provided kosher sausages and meats to delicatessens. In the 1940s, the company began supplying its products to suburban supermarkets, and went on to become the the largest, most recognized kosher brand in the U.S. The company began using its "higher authority" marketing tag line in 1965, and continued to expand its product offerings. Interest in healthier foods in the 1980s made Hebrew National's no artificial colors or flavors, no fillers, products an appealing option. The company was acquired by ConAgra in 1993, and all Hebrew National products remain certified kosher.

Hebrew National is part of ConAgra's Consumer Foods group, which made up 54% of ConAgra's 2007 revenue of $12 billion.

In a SlashFood taste test, Hebrew National hot dogs scored better than Oscar Mayer ones. Which do find tastier? In the supermarket, which do you reach for, the kids' favorite or the kosher option?

Vote in our poll for Oscar Mayer or Hebrew National as your preferred brand, and let us know in the comments why you love it.

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Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Archer Daniels Midland Co. (NYSE: ADM) Q3 profits soared, beating analysts' expectations.
• Buffalo Wild Wings Inc. (NASDAQ: BWLD) strong Q1 results met analysts' expectations.
• Burger King Holdings Inc. (NYSE: BKC) reported solid Q3 results that beat Wall Street estimates.
• Chesapeake Energy Corp. (NYSE: CHK) beat expectations for the first quarter, sending shares up.
• Colgate-Palmolive Co. (NYSE: CL) posted better-than-expected Q1 results on the weak dollar.
• Corning Inc. (NYSE: GLW) beat earnings expectations and raised its guidance.
• Corn Products International (NYSE: CPO) posted record sales for the ninth consecutive quarter.
• Duke Energy Corp. (NYSE: DUK) Q1 profits met expectations but revenues beat them.
• ExxonMobil Corp. (NYSE: XOM) missed Q1 expectations due to narrower margins.
• Garmin Ltd. (NYSE: GRMN) reported lower-than-expected earnings due to slowed demand.
• General Motors Corp. (NYSE: GM) posted a smaller-than-expected loss for the first quarter.
• Herbalife Ltd. (NASDAQ: HLF) posted Q1 results and announced the resignation of the president and COO.
• Kellogg Co. (NYSE: K) beat Q1 expectations and announced a 10% dividend increase.
• Kraft Foods Inc. (NYSE: KFT) Q1 profits declined but beat analysts' expectations.
• Procter & Gamble Co. (NYSE: PG) reported better-than-expected Q1 results and raised its 2008 outlook.

• Starbucks Corp. (NASDAQ: SBUX) posted weak Q2 earnings in line with Wall Street expectations.
• Time Warner Cable Inc. (NYSE: TWC) beat Q1 expectations and reaffirmed its guidance.
• Time Warner Inc. (NYSE: TWX) posted solid Q1 results and announced a spin-off of TWC.
• Under Armour Inc. (NYSE: UA) beat Q1 expectations but lowered its full-year outlook.
• Valero Energy Corp. (NYSE: VLO) blew past Q1 EPS expectations despite despite profits plunging 77%.

Also, Jim Cramer lauds Procter & Gamble for its success in these tough times and Colgate-Palmolive for bouncing back after taking a hit. And Time Warner investors may have been looking for more than they got in the quarterly report.

Upcoming results to watch for include Anadarko Petroleum (NYSE: APC), Cisco Systems (NASDAQ: CSCO), Fannie Mae (NYSE: FNM), Molson Coors (NYSE: TAP), Walt Disney Company (NYSE: DIS), and American International Group (NYSE: AIG).

Visit AOL Money & Finance for more earnings coverage.

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For the quarter, Kraft Foods announced that its profit dropped 13% to $608 million, compared with $702 million a year earlier, dragged down by higher expenses for ingredients. The 2007 earnings results included a one-time interest benefit related to the spin-off from Altria Group Inc. (NYSE: MO). On an adjusted basis, the company posted quarterly earnings of 44 cents per share, slightly higher the 40 cents per share that analysts expected.

The food giant posted solid growth in its first-quarter revenue, which climbed to $10.37 billion, up from $8.59 billion reported in the same period a year ago. Analysts had forecast lower revenue of $9.77 billion in the quarter, according to Thomson Financial. The increase in revenue came as the company benefited from both the weak dollar and gains related to acquisitions.

Kraft Foods had a a pretty difficult year as higher energy costs and increased expenses for dairy weighed on the company's earnings. Looking ahead, the food producer showed optimism and backed its full-year earnings outlook for a per-share profit of at least $1.90 a share excluding charges. For revenue, Kraft predicted growth of at least 5%.

In reaction to the company's positive earnings and its optimistic guidance, investors have pushed its shares 3.70% higher so far today.

Eliza Popescu is a financial writer for the online investment advisory service Investor's Observer.

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• PDUFA date for Genentech, Inc. (NYSE: DNA) and Roche Holding Ltd. (OTC: RHHBY)'s supplemental Biologics License Application for Herceptin for label expansion to include AC followed by docetaxel in treatment of adjuvant HER2+ breast cancer.
• PDUFA date for Shire plc (NASDAQ: SHPGY) and New River Pharma's supplemental New Drug Application for Vyvanse (NRP-104) treatment of Attention Deficit Hyperactivity Disordre, or ADHD, in adult patients 18-55 years old; the drug is already approved for pediatric ADHD ages 6-12.
• Verizon Communications Inc. (NYSE: VZ) to report Q earnings; conference call at 8:30am.
• Tyson Foods, Inc. (NYSE: TSN) to report Q2 earnings; conference call at 9:00am.

• Two-day FOMC meeting beginning at 8:30am.
• PDUFA date for Merck & Co., Inc. (NYSE: MRK)'s New Drug Application for Cordaptive (MK-0524A) adjunctive therapy to diet for treating elevated LDL Cholesterol, low HDL Cholesterol and elevated triglycerides levels.
  
• PDUFA date for Sucampo Pharmaceuticals, Inc. (NASDAQ: SCMP)'s supplemental New Drug Application for dose of 8mg treatment of Irritable Bowel Syndrome with Constipation; already approved for Chronic Idiopathic Constipation at 24ug dosage.
• BP plc (NYSE: BP) to report Q1 earnings; conference call at 10:15am.
• United States Steel Company (NYSE: X) to report Q1 earnings; conference call at 2:00pm.

• Second day of two-day FOMC meeting.
• Kraft Foods, Inc. (NYSE: KFT) to report Q1 earnings; conference call at 8:00am.
• Akamai Technologies, Inc. (NASDAQ: AKAM) to report Q1 earnings; conference call at 4:30pm.
• Starbucks Corporation (NASDAQ: SBUX) to report Q2 earnings; conference call at 5:00pm.

• PDUFA date for Discovery Laboratories, Inc. (NASDAQ: DSCO). On Nov 16, 2007, FDA established May 1, 2008 as its target date to complete its review of Surfaxin New Drug Application for prevention of Respiratory Distress Syndrome in premature infants.
• Comcast Corporation (NASDAQ: CMCSA) to report Q1 earnings; conference call at 8:30am.
• Exxon Mobil Corporation (NYSE: XOM) to report Q1 earnings; conference call at 11:00am.

• SEC Advisory Committee to meet at 9:00am on Improvements to Financial Reporting.
• PDUFA Date for The Medicines Company (NASDAQ: MDCO) New Drug Application, NDA for Cleviprex for treatment of Hypertension.
  
• PDUFA Date for Akorn, Inc. (NASDAQ: AKRX) for Akten Ophthalmic Gel, an ocular anesthesia.

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ConAgra Foods (NYSE: CAG) is a top food producer, offering packaged and frozen foods, seafood and dairy products to retail, foodservice, commercial product and international customers. Among the company's many brands are Hunt's, Banquet, Chef Boyardee, Van Camp's, Healthy Choice, Orville Redenbacher's, PAM, Slim Jim and Wesson. Major competitors include Kraft Foods (NYSE: KFT) and Unilever (NYSE: UL).

The company pleased investors late last month, when it reported Q3 EPS of 63 cents and revenues of $3.53 billion. Analysts had been expecting 41 cents and $3.20 billion. Management also guided FY08 EPS to $1.80-$1.85 ($1.60 consensus) and announced that it would sell the company's trading and merchandising arm to the Ospraie Special Opportunities fund and others for $2.1 billion.

The share price popped on the news and has since been consolidating the gain in a bullish "pennant" pattern. Prices frequently exit pennants moving in the same direction they were traveling on entry. In thi