TheStreet's Jim Cramer is keeping an eye on ConAgra Foods (CAG) as the packaged foods company prepares to post fourth quarter results before the opening bell Tuesday. Cramer says that ever since ConAgra bought private label Ralcorp Holdings, they have continuously missed numbers. Cramer says he's interested to hear what they have to say about that. He says what he'd like to hear is for them to say, we understand how our share base really isn't happy with us and we will take the charge and get rid of the private label. Remember, he says, they have a new CEO, Sean Connolly, which is why this is front and center. Cramer says keep an eye on Pinnacle Foods (PF) and on TreeHouse Foods (THS) as potential buyers of Ralcorp. He says TreeHouse in particular could make this work.
More from Video
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Breaking down an approach to the long side of this biotech stock.