For Immediate Release

Chicago, IL – July 10, 2009 – Zacks.com releases the latest Zacks Industry Rank. Stocks featured in this week’s analysis include General Mills (GIS), J.M. Smucker (SJM), Kellogg Co. (K), Corn Products International (CPO) and Nestle S.A. (NSRGY).

Zacks Industry Rank Analysis is written by Charles Rotblut, CFA, Senior Market Analyst for Zacks.com.

This Week: Q2 Earnings: Food Is Good

With the market being topsy-turvy as of late, consumer staples stocks are coming back into vogue.

The appeal of these stocks is their more stable business models and lower beta. What should really attract you, however, are the rising earnings estimates - particularly for food companies.

During the past 4 weeks, 47 full-year forecasts have been raised on companies within Food-Miscellaneous/Diversified, while only 8 have been cut.

The positive revisions have come on the heels

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With the market being topsy-turvy as of late, consumer staples stocks are coming back into vogue.

The appeal of these stocks is their more stable business models and lower beta. What should really attract you, however, are the rising earnings estimates - particularly for food companies.

During the past 4 weeks, 47 full-year forecasts have been raised on companies within Food-Miscellaneous/Diversified, while only 8 have been cut.

The positive revisions have come on the heels of 2 good profit reports.

General Mills Sees Good Demand

Last week, General Mills (

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Harbinger CapitalHarbinger Capital | 13F Hedge Fund HoldingsThis post is being written as part of HedgeFundBlogger.com’s Investment Securities Tool which analyzes the holdings of hedge fund managers.Harbinger Capital is a $13.8 Billion firm ran by Philip Falcone. Taken from StreetInsider, Harbinger is “a disciplined, value investor with an emphasis on intensive credit research. Its focus is on middle market companies that tend to be misunderstood or under-researched by the market. Investment approaches include:Restructuring/Bankruptcy, Turnaround, Liquidation, Event Driven, Capital Structure Arbitrage, Short Sale and Special Situations.” At one point during this year, they were up as much as 42% (more on that below).So, now that we’ve got a background on Harbinger Capital, let’s …

McDonald's Corporation (MCD) recently announced a jump of 8.5% in worldwide same-store sales for the month of August, giving its share price a boost on a down day in the market. The company is trading approximately 14% higher than it was since we last featured it in early June.

MCD’s U.S. comparable sales grew 4.5% in August. In Europe, comparable sales increased 11.6%. Comparable sales advanced 10.0% in Asia/Pacific, Middle East and Africa.

Solid Industry Income and Other Favorable Comparisons

The fast food giant’s annual dividend of $1.50 per share, which translates into a dividend yield of 2.3%.

MCD’s return on equity (ROE) of 26% is more than double the industry average of 10%. The company’s net margin of 19.2% soars past the industry average of 2.8%.

Higher Forecasts

Eight of the 14 covering analysts lifted full-year 2008 earnings projections by a penny over the past week

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Analysts are bullish on Bunge (BG), which has exceeded the consensus estimate by an average of 68% over the past 5 consecutive quarters. The company recently announced that it satisfied a regulatory condition that allowed it to close its acquisition of Corn Products International.

Company Description

Bunge Limited is a global agribusiness and food company with integrated operations. The company manufactures fertilizer and animal feed for farmers; originates oilseeds and grains from the world's primary growing regions and transports them to customers worldwide; crushes oilseeds to make meal for the livestock industry and oil for the food processing, food service and biofuel industries; produces bottled oils, mayonnaise, margarines and other food products for consumers; and mills wheat and corn for food processors, bakeries, brewers and other commercial customers.

Recent Events

The company recently announced that it satisfied a regulatory condition that allowed it to close its acquisition of

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By Jason Simpkins Associate Editor Bunge Ltd. (BG), fertilizer and oilseed producer, said it will buy Corn Products International Inc. (CPO) for $4.4 billion, or $56 a share, a 31% premium to its Friday closing price. The purchase will help Bunge expand its product line to include Corn Products’ starches, syrups and sweeteners. The deal will help Bunge diversify its sources of revenue with a “solid cash-flow business,” Chief Executive Alberto Weissar told Reuters. Weissar expects the deal to be closed in the fourth quarter of 2008 with a bump in earnings coming as soon as late 2009 or early 2010. The deal comes at a time when corn prices are soaring amid a run-up in global demand.  Corn prices have surged about 75% over the past year and 17.5% since early June when flooding throughout the Midwest lowered the outlook ...