ConAgra Foods Increases Earnings Outlook

ConAgra Foods said fiscal third-quarter profit from continuing operations would be higher than expected because of strength at its trading and merchandising segment. ConAgra previously had earnings per share in the second half of fiscal 2008 in the range of 70 cents per share, excluding items, with slightly more profit in the third quarter than the fourth quarter. The company also said higher prices on several brands, effective in late March, would lift results in both quarters as well.