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Actionable news in CAG: CONAGRA FOODS Inc,

ConAgra Comments on Spin-Off, Dividends Should Guide Investors

Packaged food giant ConAgra Foods (CAG) will announce its first-quarter earnings on Thursday. What the company says about its coming spin-off of its Lamb Weston Holdings and its dividend will play a big role in whether investors should purchase shares or stay clear of the stock.

Year-over-year sales growth should come in negative, while earnings per share (EPS) are projected to clock a 17% jump (remember, since December 2011, ConAgra has missed quarterly EPS estimates only four times). Wall Street is also expecting ConAgra to report soft sales growth, especially in...