— Shares of the food company tanked more than 8% after Conagra revised its 2020 outlook due to "softer than expected category performance" during the fiscal third quarter, with holiday restaurant traffic weaker than last year. Conagra now estimates flat to 0.5% sales growth, compared to the prior estimate of 1% to 1.5% growth. Conagra said it expects adjusted earnings per share of $2.00 to $2.07, compared to its previous $2.07 to $2.17 earnings per share range.
— Shares of Walmart rose about 1.2% on Tuesday morning despite the retail giant missing expectations for the fourth quarter, as same store sales growth was weaker than anticipated. Raymond James said in a note to clients that the company's e-commerce sales topped management expectations.
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