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CG Stocks in Hub! VeriFone Systems Inc (PAY), ConAgra Foods Inc (CAG)

Shares of VeriFone Systems Inc (NYSE:PAY) ended Monday session in green amid volatile trading. The shares closed up +0.19 points or 1.21% at $15.93 with 2.58 million shares getting traded. Post opening the session at $15.75, the shares hit an intraday low of $15.64 and an intraday high of $15.99 and the price vacillated in this range throughout the day. The company has a market cap of $1.76 billion and the numbers of outstanding shares have been calculated to be 110.97 million shares.

VeriFone Systems Inc (PAY) designs, manufactures, markets, and supplies electronic payment solutions at the point of sale (POS) worldwide. The company offers countertop solutions that accept a range of payment options, including contactless, NFC, mobile wallets, and EMV; PIN pads that support credit and debit card, EBT, EMV, and other PIN-based transactions; and multimedia consumer facing POS devices. It also provides portable payment devices comprising small, portable, and handheld devices that enable merchants to accept electronic payments wherever wireless connectivity is available; and mobile solutions that attach to and interface with iOS, Android, or Windows-based smartphones and tablets.

Shares of ConAgra Foods Inc (NYSE:CAG) ended Monday session in green amid volatile trading. The shares closed up +0.42 points or 0.89% at $47.53 with 4.44 million shares getting traded. Post opening the session at $46.84, the shares hit an intraday low of $46.81 and an intraday high of $47.90 and the price vacillated in this range throughout the day. The company has a market cap of $21.27 billion and the numbers of outstanding shares have been calculated to be 438.06 million shares.

ConAgra Foods Inc (CAG) announced that it has acquired the packaged foods businesses of Frontera Foods, Inc. and Red Fork LLC, including the Frontera, Red Fork and Salpica brands. These businesses make authentic, gourmet Mexican food and contemporary American cooking sauces. Terms of the transaction were not disclosed.

Frontera’s premium salsa, sauces, snacks and meals feature the distinct flavors of Mexico. Red Fork is known for its premium American cooking sauces and Salpica is a unique Tex-Mex salsa line.

“We are excited to add the Frontera, Red Fork and Salpica brands to our portfolio. In particular, the Frontera brand is a preeminent gourmet Mexican food brand in North America. We believe it provides a tremendous platform off which we can build,” said Sean Connolly, president and chief executive officer of ConAgra Foods.

Founding Chef Rick Bayless says, “In ConAgra, we’ve found people who respect our integrity and uncompromising standards. We will continue to make high-quality food with the same standards of excellence and operate with the same values and fresh ingredients that have helped the business to become the premium brands they are now. This is the start of a new era for Frontera, Salpica and Red Fork, and we are thrilled.”

 

 

 

About Steve Johnson

Steve Johnson was previously writing news on part time basis with many consumer goods websites. Now Steve Johnson is writing columns with us on consumer goods. He has no match the way he presents the news on consumer goods. Customers like his news, analysis and predictions.

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