Heinz to lift forecasts, unveil two-year plan: Journal

TEL AVIV (MarketWatch) — H.J. Heinz Co., the Pittsburgh foods giant, is expected on Thursday to lift its forecasts for growth in earnings and sales in the next two years, The Wall Street Journal reported. The company is due to report results for fiscal 2008 on Thursday; a survey of analysts by FactSet Research is looking for fiscal fourth-quarter earnings of 62 cents a share. The company will unveil its first two-year plan since a proxy fight waged by the investor Nelson Peltz in 2006, the Journal reported. The growth will stem from new products, higher pricing, and a push into emerging markets, people close to Heinz told the paper.
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