Shares of Mondelez (MDLZ) have been removed from TheStreet’s Action Alerts PLUS charitable trust portfolio. Jack Mohr, Research Director at AAP, explains that he had been watching the stock ever since the company reported disappointing results for the quarter. Once the shares bounced up from recent lows, the portfolio unloaded its position because Mondelez management didn’t deliver. Mohr said Mondelez management had promised to simultaneously grow margins and organic sales, but that has not happened. After selling out of Mondelez, AAP added to its Pepsi (PEP) holdings and its position in Schlumberger (SLB). Mohr said he’s confident in the long term prospects of those companies. TheStreet’s Rhonda Schaffler has details from New York.
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