December 5, 2007 / 10:19 PM / 11 years ago

UPDATE 1-ConAgra Foods sees Q2 earnings higher than planned

(Adds details, Reuters Estimates, share movement)

Dec 5 (Reuters) - ConAgra Foods Inc (CAG.N) said second-quarter earnings from continuing operations will be higher than planned due to strong performance in its trading and merchandising segment and its food and ingredients unit.

Previously, the maker of Swiss Miss cocoa, Healthy Choice meals and Hebrew National hot dogs had said it expected second-quarter earnings from continuing operations to be in line with the year-ago amounts.

It had reported earnings from continuing operations of 41 cents a share in the year-ago period.

Analysts on average were expecting the company to earn 41 cents a share, excluding exceptional items, according to Reuters Estimates.

Shares of the company were up about 2 percent at $24.90 in late electronic trade, after closing at $24.39 on the New York Stock Exchange.

Reporting by Swagata Gupta in Bangalore; Editing by Deepak Kannan

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