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☆ Abbott Labs' surprise guidance bump is a major positive for its shareholders
▼ + stars: | 2024-04-17 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Abbott Laboratories Why we own it : Abbott is a high-quality medtech company growing at a fast clip. As Abbott's organic sales growth continues to shine, the market will realize both concerns are overblown. We also love that EPS results on Tuesday came in above the range management had forecasted — a classic case of under-promising and over-delivering. ABT YTD mountain Abbott Laboratories YTD Organic growth was very strong, up nearly 11%, marking the fifth consecutive quarter of double-digit increases. In diagnostics, where we see the impact of the decline in Covid testing sales, organic sales increased 5.4% year over year.

Persons: —, Abbott, Edwards, Robert Ford, necrotizing, Ford, they've, Jim Cramer's, ABT, Jim Cramer, Jim Organizations: Abbott Laboratories, Revenue, Abbott, Libre, Charitable Trust, ABT, Management, NEC, Protality, TBIs, CNBC, Abbott Labs Locations: U.S

☆ 3 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-04-13 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Heightened tensions in the Middle East, including the possibility of Iran attacking Israel, sent stocks back down and oil prices higher. If the choice is between a weak economy with lower rates or a strong economy with higher rates, we'll take the strong economy every time. Low rates may help with valuation multiples, but it's a strong economy that leads to earnings growth and that's what we, as long-term investors care about. Shelter costs are a major sticking point for overall inflation, which makes Tuesday's housing starts and building permits report a key watch item. We'll get another look at housing with the release of the March existing home sales report on Thursday.

Persons: we've, we'll, Morgan Stanley, Wells, bode, we're, Goldman Sachs, Charles Schwab, Johnson, ERIC, JB Hunt, Kinder Morgan, DR, Ally, Huntington, Jim Cramer's, Jim Cramer, Jim, Abbott, Ethan Miller Organizations: Dow Jones, Wednesday, Federal Reserve, Abbott Labs, Cardiovascular Systems, Diagnostics, Procter & Gamble, Constellation Brands, Procter, T Bank, Bank of America, Bank of New York Mellon, BK, PNC Financial, PNC, Ericsson, United Airlines, Interactive, ASML Holdings, US Bancorp, Citizens, Alcoa, CSX, Discover Financial, Nokia, Alaska Air, Blackstone BX, McLennan, Netflix, PPG Industries, Gamble, Financial, American Express, Jim Cramer's Charitable, CNBC, Las Vegas Convention, Getty Locations: Iran, Israel, China, Marsh, Las Vegas , Nevada

☆ ADM shares plunge 24% in worst day since 1929 as CFO is placed on leave
▼ + stars: | 2024-01-23 | by ( ) www.cnbc.com time to read: +3 min

The Archer-Daniels-Midland Co. (ADM) grain facility in Mendota, Illinois, U.S.Shares of Archer-Daniels-Midland plunged 24% on Monday, its biggest one-day drop since 1929, after CFO Vikram Luthar was placed on administrative leave as the company investigates accounting practices at its Nutrition segment. The probe brings more uncertainty to ADM's high-margin Nutrition segment, which is under pressure due to weak demand for meat alternatives and other products as well as downtime at a large soy processing facility. The Nutrition segment, however, has not performed well in recent quarters. "First and foremost, understanding the true scope of potential accounting irregularities and their impact on Nutrition segment revenues/margins will be critical," said Goldman Sachs analyst Adam Samuelson. ADM appointed Ismael Roig, who has been with the company since 2004, as its interim CFO.

Persons: Archer, Vikram Luthar, Luthar, Goldman Sachs, Adam Samuelson, Ismael Roig Organizations: Daniels, Midland Co, Midland, U.S . Securities, Exchange Commission, SEC, for Research, ADM, BMO, UBS, Bunge Global Locations: Mendota , Illinois, U.S, Chicago

The deal to acquire investment firm Carlyle's (CG.O) 28% holding in the burger chain's China business, which also includes its stores in Hong Kong and Macau, will see McDonald's stake rise to 48%. Since 2017, the number of McDonald's stores in China has doubled to 5,500 and the country has become its second-largest market. McDonald's made an unsolicited offer for Carlyle's stake in the China operations in recent weeks and the deal was struck quickly, said the sources. Reuters reported in August that Trustar Capital was planning to raise a continuation fund that would allow the Chinese private equity firm to sell down its stake in McDonald's China. In contrast to McDonald's, U.S. meat and processed food maker Tyson Foods (TSN.N) plans to sell its China poultry business, sources have said.

Persons: Benoit Tessier, Chris Kempczinski, McDonald's, Carlyle, Trustar, Jim Sanderson, Reckitt, Kane Wu, Granth, Deborah Sophia, Roxanne Liu, Edwina Gibbs Organizations: REUTERS, HK, CITIC, Trustar, Northcoast Research, Reuters, Tyson Foods, Primavera Capital, Thomson Locations: Bretigny, Paris, France, China, Hong Kong, Macau, CITIC, U.S, McDonald's China, British, Bengaluru, Beijing

☆ McDonald’s is investing more in China to tap ‘tremendous opportunity’
▼ + stars: | 2023-11-21 | by ( ) edition.cnn.com time to read: +2 min

McDonald’s has struck a deal to ramp up its stake in its China business to just under 50% and expressed confidence in its growth prospects in the world’s second-largest economy. The deal to acquire investment firm Carlyle’s 28% holding in the burger chain’s China business, which also includes stores in Hong Kong and Macau, will see McDonald’s stake rise to 48%. Since 2017, the number of McDonald’s stores in China has doubled to 5,500 and the country has become its second-largest market. In contrast to McDonald’s, US meat and processed food maker Tyson Foods plans to sell its China poultry business, sources have said. British consumer goods maker Reckitt Benckiser in 2021 sold its China infant formula and child nutrition business to investment firm Primavera Capital.

Persons: McDonald’s, “, ”, Chris Kempczinski, Carlyle, Trustar, Jim Sanderson, Benckiser Organizations: Northcoast Research, Tyson Foods, Primavera Capital Locations: China, Hong Kong, Macau, CITIC, British

☆ This highly profitable industry is booming as the population ages
▼ + stars: | 2023-10-15 | by ( Michelle Fox | ) www.cnbc.com time to read: +10 min

Enteral nutrition is administered through a feeding tube or it can be taken orally. Fresenius owns 32% of Fresenius Medical Center, which saw shares drop on recent news that Ozempic's kidney disease treatment trial showed signs of success. Clinical nutrition is about 20% of group profits and an important subset of its larger specialized nutrition unit, Ackerman said. "Many investors only focus only on their infant formula unit and don't know how big or how profitable clinical nutrition is," he said. "Clinical nutrition is the jewel in Danone's crown and probably the most attractive part of Danone's portfolio, yet is hidden from investors."

Persons: Stefano Natella, — hasn't, Hassan Al, Wakeel, Warren Ackerman, Ackerman, Lindsay Clarke, Enteral, Danone's Nutrison, —, Baxter, Abbott, Sara Hennicken, Fresenius, Nestlé, Mark Schneider, Nestle, — CNBC's Michael Bloom Organizations: Guggenheim, World Health Organization, WHO, Barclays, Danone, Fresenius, Al, Alliance for Aging Research, Aging, CNBC, Nestle, Companies, — Nestle, Nutrition, Fresenius Medical Locations: German, Paris, China, Swiss, United States, parenteral, Latin America

The logo of Tyson Foods is seen in Davos, Switzerland, May 22, 2022. While it was not immediately clear what valuation Tyson Foods is seeking for the China poultry business, it has annual sales of about $1.1 billion, one of the people said. Springdale, Arkansas-based Tyson Foods and Goldman Sachs declined to comment. Calls to Tyson Foods' China headquarters in Shanghai went unanswered. In the food industry, U.S. agricultural giant Cargill struck a deal in May to sell its China poultry business to private equity firm DCP Capital for an undisclosed price.

Persons: Arnd, Goldman Sachs, Tyson, Cargill, Hope Liuhe, Kane Wu, Abigail Summerville, Roxanne Liu, Tom Polansek, Jamie Freed Organizations: Tyson Foods, REUTERS, HONG KONG, Goldman, Capital, Reckitt, Primavera Capital Group, Industrial, Thomson Locations: Davos, Switzerland, HONG, China, Springdale , Arkansas, Shanghai, Russia, Ukraine, Mongolia, Nantong, Xiaogan, Hong Kong, New York, Beijing, Chicago

New rules imposed in February force infant formula makers to invest heavily to re-make, test, certify and re-register their products for China, before potentially conducting new marketing campaigns. “The new standard requires higher product quality as well as stronger manufacturing techniques which are expected to eliminate many small-to-medium-size players,” said Quinn Mai, analyst at Euromonitor International, which estimates China’s infant formula market will fall 12.5% to $21 billion by 2025 due to shrinking demand. China's National Health Commission (NHC) cited infant safety when announcing the latest rules. Celia Ning, director at the nutrition research institute of formula maker Junlebao, said the registration process could "easily" take a year. Another, Fonterra (FCG.NZ), said it was progressing through the re-registration process but that infant formula made up a relatively small part of its China business, with declining birth rates and regulation driving industry consolidation.

Persons: ”, Quinn Mai, Jane Li, Li, Celia Ning, Junlebao, Ning, SAMR, Nestle, Marius Zaharia Organizations: Euromonitor, Health Commission, NHC, State Administration, Market, “, Unicef, Companies, Abbott Laboratories, Reuters, New Zealand's Ministry, Primary Industries, Milk, Global, Nestle, Danone, HK, “ Companies, Thomson Locations: HONG KONG, China, Auckland, “ Beijing, India, U.S, Hong Kong, Beijing, Lincoln

☆ Jenny Craig tells employees it will shut its doors
▼ + stars: | 2023-05-03 | by ( Sara Ruberg | ) www.cnbc.com time to read: +3 min

Jenny Craig corporate and salaried field employees' last day will be Friday, and hourly center employees' last day working was Tuesday. Capital when it acquired Jenny Craig for an undisclosed amount in April 2019. For the past two weeks, Jenny Craig had been running out of money as it searched for a buyer. Two current Jenny Craig corporate employees say they fear the company will file for bankruptcy by the end of the week. Jenny Craig employees say there was no indication preceding the past two weeks that the company was spiraling.

☆ Maye Musk said being awarded an honorary doctorate is the 'best thing that's ever happened to me'
▼ + stars: | 2023-04-16 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

Elon Musk congratulated his mother after she was awarded an honorary doctorate. Maye Musk received the honor in dietetics from the University of the Free State in South Africa. Elon Musk congratulated his mother after she was honored by the University of the Free State in South Africa for her contribution to nutrition research. "This was so unexpected," Maye Musk said after receiving an honorary doctorate in dietetics. Maye Musk didn't immediately respond to a request for comment from Insider.

☆ 'A hidden gem': Barclays names 3 stocks to buy in an overlooked area of health care
▼ + stars: | 2023-04-14 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

There's a global investing opportunity in a corner of health care that is both "significant and underappreciated," according to Barclays. For Nestle, that shift is also a catalyst for more growth in China as the market expands, the bank said. "We view it as a 'hidden jewel' where we expect increased investment from the new management team," Barclays said. German health care company Fresenius is also a "clear beneficiary" of the shift toward enteral nutrition, as it's set to leverage its leadership position in China in that area, the bank said. It also has a strong position in enteral in the region, positioning it to benefit from the high potential for growth."

LONDON, March 1 (Reuters) - Reckitt Benckiser (RKT.L), maker of Dettol and Lysol cleaning products, on Wednesday marginally beat full-year like-for-like net revenue expectations, helped by higher prices and its nutrition and health businesses. The company said it would target like-for-like net revenue growth of mid-single digits for 2023, excluding the substantial boost its 2022 sales received from the recall of a rival's infant formula. Abbott Laboratories (ABT.N) early last year recalled dozens of infant nutrition products in the United States after customers complained of infants contracting bacterial infections. Reckitt, its biggest rival at the time, ramped up production to fill the supply gap left by Abbott, helping to drive full-year like-for-like net sales growth of about 23% in its nutrition business. The company said full-year like-for-like net revenue increased by 7.6%, edging ahead of analysts' expectations of a 7.5% rise, according to a company-provided consensus.

☆ Reckitt sales marginally beat full-year estimates
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +1 min

LONDON, March 1 (Reuters) - Britain's Reckitt Benckiser (RKT.L), maker of Dettol and Lysol cleaning products, on Wednesday marginally beat full-year like-for-like net revenue expectations, helped by its nutrition and health businesses. The company said it would target like-for-like net revenue growth of mid-single digits for 2023. Abbott Laboratories (ABT.N) early last year recalled dozens of infant nutrition products in the United States after customers complained of infants contracting bacterial infections. Reckitt, its biggest rival at the time, ramped up production to fill the supply gap left by Abbott, helping drive full-year like-for-like net sales growth of about 23% in its nutrition business. Reckitt's own 2022 like-for-like net revenue growth target was 6% to 8%.

☆ Food group Danone raises 2022 outlook as third-quarter sales beat expectations
▼ + stars: | 2022-10-27 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

PARIS, Oct 27 (Reuters) - French food group Danone (DANO.PA) on Thursday raised its 2022 revenue growth forecast after its third-quarter sales beat analysts' estimates as the firm was able to raise prices to counter soaring costs. Danone posted a 9.5% rise in third-quarter like-for-like sales to 7.334 billion euros ($7.35 billion), beating analysts' expectations for a 6.9% rise in a poll compiled by the company. This also marked a sequential acceleration from 7.7% sales growth achieved in the second quarter and reflected strength in all the group's businesses, notably in baby food in China and in bottled waters. Price increases contributed 10.9% to third-quarter revenue growth. Rival Unilever Plc (ULVR.L) also on Thursday raised its full-year sales forecast as it lifted prices to counter costs.

☆ Third Point takes stake in Colgate-Palmolive; sees value in pet food spinoff
▼ + stars: | 2022-10-18 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: Colgate toothpaste is pictured on sale at a grocery store in Pasadena, California January 30, 2014. REUTERS/Mario Anzuoni (UNITED STATES - Tags: BUSINESS)(Reuters) -Daniel Loeb’s Third Point has built a significant position in toothpaste maker Colgate-Palmolive Co and sees value in a potential spinoff of its Hill’s Pet Nutrition business, the activist investor said in a letter seen by Reuters. The investor letter did not disclose the size of Third Point’s stake, but cited several reasons for investing in the consumer goods company, including its pricing power in inflationary conditions and the strength in its pet food business. “There is meaningful hidden value in the company’s Hill’s Pet Nutrition business, which we believe would command a premium multiple if separated from Colgate’s consumer assets,” the letter said. Sales in Colgate’s pet nutrition business have outpaced overall company revenue over the last few years as consumers pay more attention to the needs of their cats and dogs.

Oct 18 (Reuters) - Daniel Loeb's Third Point has built a significant position in toothpaste maker Colgate-Palmolive Co (CL.N) and sees value in a potential spinoff of its Hill's Pet Nutrition business and other brands, the activist investor said in a letter seen by Reuters. The investor letter did not disclose the size of Third Point's stake, but cited several reasons for investing in the consumer goods company, including its pricing power in inflationary conditions and the strength in its pet food business. Loeb called the pet segment one of the most "exciting" pockets in the consumer space and said the business could be worth roughly $20 billion if it were a standalone company. Register now for FREE unlimited access to Reuters.com Register"There is meaningful hidden value in the company's Hill's Pet Nutrition business, which we believe would command a premium multiple if separated from Colgate's consumer assets," the letter said. Sales in Colgate's pet nutrition business have outpaced overall company revenue over the last few years as consumers pay more attention to the needs of their cats and dogs.

☆ How the $36 billion vitamin industry tricked a generation of adults into believing sugary gummies were the ticket to good health
▼ + stars: | 2020-10-07 | by ( Rachel Premack | ) www.businessinsider.com time to read: +21 min

But some consumer advocates and doctors worry that those supplements don't have as many benefits as people think. "Our gummy vitamins have been on fire," CEO Matt Farrell told investors in a July earnings call. He said that Hero Nutritionals, founded in 1995, created the first gummy vitamin for the American market. A Perrigo representative said it no longer manufactured gummy vitamins, and it did not respond to further inquiries.) But the doctor had something to admit: He takes a gummy vitamin every day.

Persons: Robert Shmerling's, who's, they're, It's, Shmerling, Chuck Bell, Charlene Elliot, Zers, sassily, you'll, Gummy, Kim Kardashian's Instagram, Matt Farrell, Andrew Stablein, it's, Hollis Johnson, Ingrid Sorensen, Sorensen, Libby Mindarino, Mindarino, Peter Waitzman, I'm, John Troup, Troup, Nutritionals, Jennifer Hodges, Hero, America's, Hodges, Bernd Settnik, Lil, gummies, Perrigo, Olly, SmartyPants, Dwight, University of Calgary's Elliot, Millennials, Gen Zers, Elliot, Lunchables, Courtney Nichols Gould, Kim Kardashian, Kylie Jenner, @sugarbearhair, Kylie 🤍, ike, alo, ike J ames Organizations: Harvard Medical School, Consumer, University of Calgary, Brands, Netflix, Big Tech, Walmart, Target, Business, Nutrition Business, . Church, Consumers, Bayer, Companies, New York Times, pharma, Consumer Healthcare Products Association, Sweet, Getty, Centers for Disease Control, Perrigo, Church, University of Calgary's Locations: Boston, America, gummy, Atlanta, Ireland, Dwight, Patagonia, osh

☆ Elon Musk's mom on raising successful kids: 'I didn't treat them like babies or scold them'
▼ + stars: | 2019-12-31 | by ( Maye Musk | ) www.cnbc.com time to read: +3 min

My middle child, Kimbal, started farm-to-table restaurants and is teaching children to build fruit and vegetable gardens in underserved schools. I tell them I did it by teaching them about hard work and letting them follow their interests. I started working for my dad when I was eight years old. When Kaye and I were 12, we started working in the clinic as receptionists. I taught them them importance of working hard and doing good things.

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