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☆ Stocks making the biggest moves midday: Lamb Weston, Levi Strauss, Wayfair and more
▼ + stars: | 2024-04-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Zeta Global — The software stock added 13% after Morgan Stanley upgraded the software firm to an overweight rating from equal weight. Conagra Brands — The consumer packaged goods food company climbed 5% after exceeding analysts' estimates for its fiscal third-quarter earnings and revenue. Lamb Weston — Shares plunged 19% after the fries producer missed its third-quarter earnings and revenue. Lamb Weston posted third-quarter adjusted earnings of $1.20 per share, less than the $1.45 analysts polled by FactSet had expected. Solar stocks — Solar stocks rose higher during Thursday's session as the yield on the benchmark 10-year Treasury moved lower.

Persons: Goldman Sachs, Morgan Stanley, Wayfair, foresees, Levi Strauss, Conagra, FactSet . Lamb Weston —, Lamb Weston, FactSet, Grindr, Raymond James, Solventum, —, Alex Harring, Hakyung Kim Organizations: Hertz, Goldman, Investors, Zeta, Conagra, Alaska Air Group —, Boeing, Reuters, 3M, Treasury, Energy, SolarEdge Technologies Locations: Alaska

☆ Stocks making the biggest moves premarket: Levi Strauss, Intuitive Machines, Wayfair and more
▼ + stars: | 2024-04-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Hertz Global — The car rental stock slid nearly 5% following a downgrade to sell from neutral at Goldman Sachs. Wayfair — The home-focused e-commerce retailer rose nearly 5% following an Evercore ISI upgrade to outperform from in line. For the period, the retailer posted adjusted earnings of 26 cents per share on $1.56 billion in revenue. Conagra reported earnings of 69 cents per share on revenue of $3.03 billion, exceeding FactSet's estimates of 65 cents per share on revenue of $3.01 billion. Intuitive Machines — The space stock soared nearly 11% after Intuitive won a NASA contract for $30 million to build a lunar terrain vehicle.

Persons: Goldman Sachs, Lizzie Dove, Morgan Stanley, Wayfair, Levi Strauss —, Conagra, Lamb Weston, FactSet, — CNBC's Alex Haring, Sarah Min, Samantha Subin Organizations: Hertz, Goldman, Zeta Global, Zeta's, LSEG, NASA

☆ Conagra Brands CEO Sean Connolly goes one-on-one with Jim Cramer
▼ + stars: | 2024-04-04 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Conagra Brands CEO Sean Connolly goes one-on-one with Jim CramerConagra Brands President and CEO Sean Connolly joins 'Mad Money' host Jim Cramer to talk consumer trends, innovation in the packaged goods space, the impact of weight-loss drugs and more.

Persons: Sean Connolly, Jim Cramer Conagra, Jim Cramer Organizations: Conagra, Jim Cramer Conagra Brands

☆ Thursday’s rapid fire: SharkNinja, Hertz Global, Levi Strauss, Conagra Brands and Block
▼ + stars: | 2024-04-04 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThursday’s rapid fire: SharkNinja, Hertz Global, Levi Strauss, Conagra Brands and BlockCNBC’s Jim Cramer on Thursday discussed the stocks of SharkNinja, Hertz Global, Levi Strauss, Conagra Brands and Block

Persons: Levi Strauss, Jim Cramer Organizations: Hertz, Conagra Brands

☆ Here are the 3 key things we're most focused on in the stock market this week
▼ + stars: | 2024-03-30 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

The annual reading is above the 2% target set by the central bank but is a slight deceleration from the 2.9% annual rate in December and January. Looking ahead to next week, it's all about the macroeconomic updates as the first quarter earnings season is mostly over. ET: ISM Manufacturing PMI After the bell: PVH Corp. (PVH), Canoo (GOEV) Tuesday, April 2 10:00 a.m. ET: ISM Services PMI Before the bell: Acuity Brands (AYI) After the bell: BlackBerry (BB), Levi Strauss (LEVI) Thursday, April 4 8:30 a.m. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Dow, payrolls, Paychex, Calvin Klein, Tommy Hilfiger, Buster's, Levi Strauss, LEVI, Lamb Weston, Jim Cramer's, Jim Cramer, Jim, Eric Thayer Organizations: Dow Jones, Nasdaq, Federal, Cal, Maine Foods, Conagra, PVH Corp, PMI, Maine, Brands, Jim Cramer's Charitable, CNBC, Workers, Grand Central Market, Bloomberg, Getty Locations: U.S, Cal, Los Angeles , California

☆ Wall Street could be in for another good quarter after an exuberant start to the year, history shows
▼ + stars: | 2024-03-28 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Wall Street could be in for another solid quarter as stocks have embarked on a strong start to the year. Specifically, in the second quarter, the S & P 500 was higher 9 out of 11 times, averaging a 2.7% gain. Significantly, two occurrences of those 10% first-quarter gains Detrick reviewed took place during election years, with the S & P 500 ending higher on the year. In 1976, the S & P 500 went on to register a 1.5% increase in the second quarter, and a 4.6% jump for the rest of the year. The Wall Street firm maintained its year-end S & P 500 target of 5,050, representing a 3.8% slide from Wednesday's close.

Persons: Ryan Detrick, We've, there'd, Detrick, CNBC's, Research's Sam Stovall, Stovall, Piper Sandler, Craig Johnson, Brian Nick, Nick, John Stoltzfus, Ayako Yoshioka, Yoshioka, CFRA's Stovall, FactSet Organizations: Nvidia, VanEck Semiconductor, Dow Jones, Carson Group, Macro, PMI, Manufacturing, ADP, Survey, Services PMI, Weston Holdings, Conagra Brands, Consumer Credit Locations: U.S

☆ Goldman says these types of dividend stocks are the best to own in wake of big Meta payout news
▼ + stars: | 2024-02-12 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

For investors, that suggests opportunity in certain dividend stocks, Kostin wrote. Since late 2022, Goldman Sachs' Dividend Yield and Growth basket (GSTHDIVG), a 50-stock, equal-weighted basket of stocks with high trailing dividend yield and high anticipated dividend growth, has outperformed the equal-weighted S & P 500 by 3 percentage points. As of October, here are some of the stocks in the firm's dividend yield and growth basket. Verizon Communications Communication services stock Verizon Communications is a constituent in the dividend growth basket. Other stocks in Goldman's dividend growth basket include Best Buy , Conagra Brands and Devon Energy .

Persons: Goldman Sachs, David J, Meta, Kostin, That's, Greenlight Capital's David Einhorn, Morgan Stanley, Simon Flannery, — CNBC's Michael Bloom Organizations: Facebook, Bank of America, Federal Reserve, Verizon Communications Communication, Verizon Communications, Verizon, Conagra Brands, Devon Energy Locations: Viatris

☆ Dolly Parton says she refused to do a naked photo shoot for her 1978 Playboy cover
▼ + stars: | 2024-01-28 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +4 min

Dolly Parton tells Business Insider she didn't want to do a naked cover shoot for Playboy in 1978. AdvertisementDolly Parton says she was completely comfortable posing on the cover of Playboy magazine in 1978, but only if she could be fully clothed. For the cover shoot, she dressed up like the Playboy bunny, wearing a black bustier, black bunny ears, and a dazzling white bow tie connected to a pink collar. Dolly Parton dresses up as the Playboy bunny for her 1978 cover shoot. During her Playboy cover interview in 1978, Parton said she didn't want to do a naked photo shoot because she was worried about how her fans would react.

Persons: Dolly Parton, Parton, —, Harry Langdon, Carl Dean, I'm, Duncan Hines, Conagra Organizations: Playboy, Service, Conagra Brands, BI Locations: Rhimestones

☆ Dolly Parton says she was 'very involved' as a producer on 'Buffy the Vampire Slayer,' and sent gifts to the cast to show 'I was proud of them'
▼ + stars: | 2024-01-24 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +4 min

Read previewDolly Parton is opening up about one of her little-known career achievements: a producer on "Buffy the Vampire Slayer." Sandollar first produced the 1992 "Buffy the Vampire Slayer" movie, which flopped at the box office, before coproducing the television series starring Sarah Michelle Gellar. Dolly Parton is releasing new Duncan Hines baking mixes. AdvertisementParton says she decided to launch her own baking mixes because of her love of cooking. "But no matter what you're cooking, you're going to always want something sweet to eat after it."

Persons: —, Dolly Parton, Parton, Sandy Gallin, Sandollar, Sarah Michelle Gellar, didn't, Duncan Hines, Gellar, Buffy, Jimmy Fallon, JB Rowland, Dolly Parton Parton, Conagra Organizations: Service, Business, Sandollar Television, Sandollar Productions, BI, Conagra, Conagra Brands Locations: Nashville, Los Angeles

☆ A 'Buffy the Vampire Slayer' reboot could be on the way, says producer Dolly Parton
▼ + stars: | 2024-01-24 | by ( Ayomikun Adekaiyero | Tufayel Ahmed | ) www.businessinsider.com time to read: +4 min

Dolly Parton says there are plans to reboot "Buffy the Vampire Slayer." Advertisement"Buffy the Vampire Slayer" could be returning to screens, according to Dolly Parton. Online USA/Stringer/Getty ImagesAccording to The Hollywood Reporter, Fran Rubel Kuzui first attempted to reboot "Buffy" with a new movie in 2009. In 2018, Whedon and producer and screenwriter Monica Owusu-Breen collaborated on a proposed "Buffy" reboot with a Black lead, reported Deadline. "I have to give more people more credit on 'Buffy the Vampire Slayer' than me.

Persons: Dolly Parton, Parton, —, Sarah Michelle Gellar, Sandy Gallin, David Boreanaz, They're, Kristy Swanson, Fran Rubel Kuzui, Kaz Kuzui, Joss, Stringer, Whedon, Monica Owusu, Breen, Owusu, Indira, Laya DeLeon Hayes, James Marsters, Anthony Head, Charisma Carpenter, Juliet Landau, Emma Caulfield, Amber Benson, James Charles Leary, Danny Strong, Duncan Hines, Conagra Organizations: Sandollar Television, Service, Sandollar Productions, Sandollar, Kuzui Enterprises, Productions, Century Fox Television, Hollywood, Twitter, BI, Conagra Brands Locations: Nashville, Los Angeles

☆ Dolly Parton says she didn't take a day off work for her 78th birthday: 'Nothing wrong with working on your birthday'
▼ + stars: | 2024-01-23 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +3 min

Parton tells Business Insider she decided to work on her birthday this year. The country music legend celebrated her birthday on January 19 and marked the occasion by working on future projects, she tells Business Insider. Parton tells BI that she was snowed in at home on her birthday, but neither that nor work stopped her from celebrating in style. AdvertisementNew baking mixes set to hit stores this month include chocolate cake, yellow cake, cinnamon crumb cake, blueberry muffin, and banana nut muffin. SUZANNE CORDEIRO/Getty ImagesParton tells Business Insider that she started her own line of baking mixes because she loves to cook.

Persons: Dolly Parton, Parton, —, Duncan Hines, SUZANNE CORDEIRO, Lucky Parton Organizations: Service, Conagra Brands, Conagra, of Country

☆ Reducing pesticides in food: Major food manufacturers earn an F grade
▼ + stars: | 2023-11-08 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +11 min

“Pesticide exposure during pregnancy may lead to an increased risk of birth defects, low birth weight, and fetal death,” the American Academy of Pediatrics stated. “Exposure in childhood has been linked to attention and learning problems, as well as cancer.”Yet pesticide exposure is widespread, even for chemicals that were banned years ago by federal agencies. In the 2023 Shopper’s Guide to Pesticides in Produce — a list of nonorganic produce with the most pesticides — researchers found 210 different pesticides on the 12 foods. In addition, consumers can ask food companies to “release the actual test results of pesticide concentrations in their products,” said EWG’s Temkin. “Food companies have not been publishing such data, instead relying on generalities,” she said via email.

Persons: ”, Cailin Dendas, “, disheartening, Jane Houlihan, Houlihan, Kale, collard, ” Alexis Temkin, toxicologist, ” Dendas, Jim Watson, Dendas, Sow, General Mills, Archer Daniels, Lamb, Nestlé, Dane Lisser, Shelby Stoolman, EWG’s, Temkin, ” Temkin, “ Steer Organizations: CNN, “ Pesticides, Healthy, “, ”, American Academy of Pediatrics, Environmental, US Environmental Protection Agency, Environmental Protection Agency, US Centers for Disease Control, Getty, Archer Daniels Midland Co, PepsiCo Inc, Conagra Brands Inc, Campbell Soup Company, Lamb Weston Holdings Inc, G Foods Inc, Cargill, Danone S.A, Del Monte Pacific Ltd, General, Inc, Kraft Heinz Company, Mars Incorporated, Mondelēz, Post Holdings Inc, ADM, US Food and Drug Administration Locations: United States, AFP

☆ Jury awards $7.1 million to a burn victim who alleged that a can of cooking spray 'exploded into a fireball'
▼ + stars: | 2023-11-01 | by ( Associated Press | ) www.businessinsider.com time to read: +4 min

Tammy Reese was badly burned when a can of commercial-brand cooking spray ignited, a lawsuit alleged. A jury has ordered Conagra Brands to pay $7.1 million in compensatory and punitive damages. "We continue to stand by our cooking spray products, which are safe and effective when used correctly, as instructed. Consumers can check if their cooking spray cans are vented by looking at whether the bottom of the can has four small U-shaped slits, Smith said. "In a commercial kitchen, that's a sort of normal place where people leave their cooking spray cans when they're actually using them.

Persons: Tammy Reese, Conagra, —, Pam, Reese, Craig Smith, Marie Callender's, Chef Boyardee, Slim Jim, Smith, Peter Flowers Organizations: Brands, Service, Conagra, Swiss Miss Locations: Illinois, Chicago, Pennsylvania, Shippensburg , Pennsylvania, Cook, Swiss

Chicago-based Conagra Brands must pay out $3.1 million in compensatory damages and $4 million in punitive damages to Reese, according to the Cook County Circuit Court verdict. Consumers can check if their cooking spray cans are vented by looking at whether the bottom of the can has four small U-shaped slits, Smith said. The cooking spray that exploded near Reese had been stored on a shelf about 18 inches (46 centimeters) above the stove, according to Flowers. “In a commercial kitchen, that’s a sort of normal place where people leave their cooking spray cans when they’re actually using them. The redesign was not related to the lawsuits and was part of an effort to standardize the company’s cans, Conagra said.

Persons: —, Tammy Reese, Pam, Reese, “, Craig Smith, Marie Callender’s, Chef Boyardee, Slim Jim, Smith, ” Peter Flowers, Conagra, ___ Savage Organizations: CHICAGO, Brands, Conagra, Swiss Miss, Associated Press, America Statehouse News Initiative, America Locations: Illinois, Chicago, Pennsylvania, Shippensburg , Pennsylvania, Cook, Swiss

☆ Pennsylvania Woman Is Awarded $7.1 Million in Damages From Conagra
▼ + stars: | 2023-11-01 | by ( Rebecca Carballo | More About Rebecca Carballo | ) www.nytimes.com time to read: 1 min

A jury in Illinois ordered Chicago-based Conagra Brands to pay $7.1 million to a Pennsylvania woman who was badly burned when a can of cooking spray caught fire at her workplace kitchen. The woman, Tammy Reese, was working in a kitchen at Hub City Club in Shippensburg, Penn., in May 2017 and using Pam cooking spray when it suddenly “exploded into a fireball, causing burns,” according to the complaint filed in 2019. Ms. Reese suffered second-degree burns on her head, face, hands and arms and spent weeks getting burn care, Ms. Reese’s lawyer, J. Craig Smith, said. The jury ruled in favor of Ms. Reese on counts that included liability, design defect, failure to warn, and negligence and willful and wanton conduct, according to documents filed in Cook County Circuit Court on Monday.

Persons: Tammy Reese, Pam, Ms, Reese, J, Craig Smith Organizations: Brands, City Club Locations: Illinois, Chicago, Pennsylvania, Shippensburg, Penn, Cook County

☆ Weight-loss drug worries add to US restaurants' weak traffic woes
▼ + stars: | 2023-10-26 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +4 min

Investors' knee-jerk reaction to those comments sent the under-pressure S&P 500 restaurants index (.SPLRCREST) down 1.3% at the time. THE FUNDAMENTALS** On Thursday, Chipotle is expected to report a 4.5% increase in Q3 same-store sales, according to LSEG data, slower both on a year-over-year and a sequential basis. Profit likely rose about 18%. WALL STREET SENTIMENT** The S&P 500 restaurant sub-index (.SPLRCREST) has risen just 0.4% year-to-date, lagging a more than 10% jump in the benchmark S&P 500 (.SPX). Growth in top restaurant stocks has broadly lagged the benchmark S&P 500 indexReporting by Deborah Sophia in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Peter Saleh, Taco Bell, Wells, Chipotle, Deborah Sophia, Savio D'Souza Organizations: REUTERS, KFC, Yum Brands, Walmart, Conagra, Taco, WALL, Thomson Locations: New York, McDonald's, Wells Fargo, Bengaluru

☆ Conagra Brands beats quarterly profit estimate on price hikes
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

[1/2] Slim Jim products, owned by Conagra Brands, are seen for sale in a store in Manhattan, New York, U.S., November 15, 2021. Shares of the Chicago-based packaged food maker fell 1.4% to $26.15 premarket on Thursday as Conagra missed quarterly sales estimates and also maintained tepid targets for annual sales and profit. Peer General Mills (GIS.N) in September also narrowly topped profit estimates on higher prices, but the Cheerios cereal maker's volumes took a hit as consumers turned cautious. Campbell Soup (CPB.N) forecast an upbeat annual profit as the company bets on easing cost pressures. Conagra reported first-quarter net sales of $2.90 billion, while analysts on average expected $2.95 billion, according to LSEG data.

Persons: Slim Jim, Andrew Kelly, Slim, Conagra, Mills, Campbell, Granth, Sherry Jacob, Phillips Organizations: Conagra Brands, REUTERS, Conagra, Thomson Locations: Manhattan , New York, U.S, Chicago, Bengaluru

☆ Conagra Brands swings to quarterly profit on higher prices
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +1 min

[1/2] Slim Jim products, owned by Conagra Brands, are seen for sale in a store in Manhattan, New York, U.S., November 15, 2021. Conagra, which grappled for months with higher costs tied to labor and raw materials, raised its product prices multiple times over the last several quarters, and is now seeing some of the expenses ease from their peaks. The company reported net sales of $2.90 billion in the first quarter, while analysts on average expected $2.95 billion, according to LSEG data. Conagra expects its annual organic net sales growth to be 1% and adjusted EPS to come in between $2.70 and $2.75. Reporting by Granth Vanaik in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Slim Jim, Andrew Kelly, Jim, Conagra, Granth, Sherry Jacob, Phillips Organizations: Conagra Brands, REUTERS, Conagra, Thomson Locations: Manhattan , New York, U.S, Chicago, Bengaluru

☆ Morning Bid: Nervy bond bounce on soft jobs and oil
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +5 min

[1/2] A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Although both oil and bond yields calmed somewhat overnight, U.S. crude plunged by more than $5 per barrel on Wednesday. The tentative bond bid and shifting interest rate picture stopped the rot in stock markets too, with Wall St stocks rallying on Wednesday and the Nasdaq (.IXIC) staging its biggest daily gain since August. But in a sign of the nervousness, European stock markets stalled again and Wall St futures were back in the red. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Kevin McCarthy, Michael Barr, Mary Daly, Thomas Barkin, Loretta Mester, Lamb Weston, Christina Fincher Organizations: New York Stock Exchange, REUTERS, Nasdaq, Wall, Metro Bank, U.S, Federal, San Francisco Fed, Richmond Fed, Cleveland Fed, Treasury, Brands, Constellation Brands, Reuters, Thomson Locations: New York City, U.S, Wall, York

☆ 3 things that will impact stocks going into the first trading week of the fourth quarter
▼ + stars: | 2023-09-30 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Wall Street closed out the final week of the third quarter lower as Friday's initial rally on tame inflation data ended largely in losses. The Dow , S & P 500 and the Nasdaq all fell sharply for the historically tough month of September and for the quarter. We hope it convinces the Fed to hold off on any additional hikes as we await the impact of prior rate moves. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Dow, We'd, Helen of Troy, HELE, Lamb Weston, Levi Strauss, LEVI, Payrolls, Jim Cramer's, Jim Cramer, Jim, Nick M Organizations: Nasdaq, Dow, Federal Reserve, Fed, Constellation Brands, Management, UAW, Big, Detroit automakers, General Motors, Ford, Chrysler, PMI, McCormick, Maine, Conagra Brands, CNBC Locations: U.S, Cal

☆ The market has shaken off government shutdowns in the past. Here's what Wall Street expects
▼ + stars: | 2023-09-29 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

A government shutdown looming on the horizon could dampen sentiment to start October even as Wall Street wraps up what's been a challenging month and quarter. Many market participants expect that the financial markets and economy will broadly shake off concerns from a shutdown as they have in the past. "The market's probably going to set it aside until or unless it starts to have a larger impact on behaviors." Economic impact Historically, government shutdowns have been relatively short-lived, though they have been longer and more disruptive recently. Meanwhile, Jay Woods, chief global strategist at Freedom Capital Markets, expects the government shutdown is "all bark and no bite" when it comes to market reaction.

Persons: Wells Fargo, Rob Haworth, Wells, Michael Pugliese, Bank's Haworth, Aditya Bhave, Jay Woods, Woods, Jeff Hirsch, Hirsch, Lamb Weston Organizations: RBC Capital Markets, Federal Reserve, U.S . Bank, Nasdaq, BEA, Bank of America U.S, Labor, Freedom Capital, Atlanta Fed's, PMI, Manufacturing, McCormick, ADP, Services PMI, Constellation Brands, Conagra, Consumer Credit Locations: Wells Fargo

☆ The risks to alcohol and food stocks from Ozempic-like weight loss drugs
▼ + stars: | 2023-09-20 | by ( Paulina Likos | ) www.cnbc.com time to read: +9 min

The rise of new anti-obesity medications could result in less alcohol consumption, impacting Club name Constellation Brands (STZ). The risk already seems to be playing out in food stocks with exposure to snacks and junk food. We don't think Constellation Brands stock will suffer the same fate as shares of leading snack food companies like J.M. Key points The increasing popularity of new diabetes/weight loss drugs could curtail consumer appetite for junk food and alcohol. Constellation Brands (STZ), the Club name behind the Mexican beers Corona and Modelo, should be able to weather any such headwind.

Persons: Eli Lilly, it's, Mills, Lilly, Jim Cramer, Mounjaro, Morgan, Morgan Stanley, AOMs, Jefferies, Jim Cramer's, Jim, Gabby Jones Organizations: Constellation Brands, Corona, Modelo, Pacifico, Nordisk, Ozempic, Club, Novo Nordisk, Brands, Conagra Brands, Constellation, Bud Light, Jefferies, JPMorgan, CNBC, Bloomberg, Getty Locations: U.S, Oro, Brooklyn Borough, New York

In recent weeks, U.S. consumers have seen high-profile food recalls for an unappetizing reason: They're contaminated with foreign objects that have no place on a dinner plate. “Extraneous materials” triggered nine recalls in 2022 of more than 477,000 pounds of food regulated by the U.S. Department of Agriculture’s Food Safety and Inspection Service — triple the number of recalls tied to food contaminated with toxic E. coli bacteria. Trader Joe’s wouldn’t elaborate on how material got into the foods that led to its recent recalls. In recent years, firms have become increasingly cautious and are recalling products more frequently than before, said Nathan Mirdamadi, a consultant with Commercial Food Sanitation, which advises the industry about food safety. Consumers who find foreign materials in food should notify manufacturers, experts said, but also realize that recalls are likely to stick around.

Persons: Tyson, Keith Belk, “ they’re, ” Belk, Nathan Mirdamadi, “ It’s, Mirdamadi, there’s, Dee, Ann Durbin Organizations: U.S . Food, U.S . Department of Agriculture’s, USDA, FDA, Regulators, ConAgra Brands Inc, Center for Meat Safety, Colorado State University ., Centers for Disease Control, Food Sanitation, Consumers, AP, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group Locations: U.S

☆ Kellogg raises annual profit outlook on higher prices
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

Kellogg's cold cereal products are pictured in a market in New York, U.S., June 21, 2022. REUTERS/Mike Segar/File PhotoAug 3 (Reuters) - Kellogg Co (K.N) on Thursday forecast a smaller drop in annual profit than it had previously expected, as multiple price hikes for its breakfast snacks and cereals helped strengthen its margins. The Corn Flakes maker said it expected 2023 adjusted profit per share to decline between 1% and 2%, compared with the prior forecast for a decline of 1% to 3%. However, the company posted a 4.6% rise in net sales to $4.04 billion in the second quarter, missing analysts' expectations of $4.07 billion, according to Refinitiv data. Reporting by Mehr Bedi and Aatrayee Chatterjee in Bengaluru; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Segar, Mehr Bedi, Aatrayee Chatterjee, Milla Nissi Organizations: REUTERS, Kellogg, PepsiCo, Conagra Brands Inc, Hershey, Thomson Locations: New York, U.S, Bengaluru

☆ Conagra Brands forecasts dour sales as higher prices hit demand
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

July 13 (Reuters) - Conagra Brands Inc (CAG.N) on Thursday forecast annual sales and profit below Wall Street estimates, in a sign that higher prices were starting to eat into demand for the Slim Jim beef jerky maker's frozen foods and other packaged meals. The company, like other global packaged food makers, has been steadily raising product prices over the past few years to counter spiraling costs, and had faced little resistance from consumers until recently. Persistent inflation has eroded budgets at many American households, forcing consumers to trade down from branded packaged food products to cheaper private-label alternatives, which has impacted sales at Conagra. The company expects 2024 organic net sales growth to be 1% higher than 2023, while analysts on average were expecting an increase of 2.77%, according to Refinitiv estimates. Full-year adjusted EPS is expected between $2.70 and $2.75, compared with analysts' average estimate of $2.85 per share.

Persons: Slim, Mehr Bedi, Aatrayee Chatterjee, Shinjini Organizations: Conagra Brands Inc, Wall, Thomson Locations: Bengaluru

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