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Conagra Inflation Warning Should Worry Food Investors (US.CAG)

Food companies still haven’t caught up with inflation. That is the takeaway from quarterly results posted on Thursday by Conagra CAG 0.26% Brands, maker of Duncan Hines cake mixes and Marie Callender’s frozen meals. For its fiscal third quarter ended Feb. 27, the company posted strong organic sales growth, which strips out acquisitions and currency moves, of 6% from a year earlier.

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Fed meeting minutes, Conagra earnings: What to know in markets this week

Based on the Fed's messaging so far, a number of economists expect the Fed will formally announce its plans to begin quantitative tightening at the end of its next meeting on May 4.While the docket of corporate earnings results will be relatively light this week, a couple of major companies will still report results. Conagra (US.CAG) will be one such company, with its earnings due out Thursday morning before market open. Commentary from the food and packaged goods giant will offer another set of information about how elevated inflation and ongoing supply chain issues have impacted individual companies, and consumer spending more broadly.

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