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☆ JPMorgan says this packaged food company can rally 25% thanks to strong cash flow
▼ + stars: | 2023-10-13 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Post Holdings is "a post-er child for strong free cash flow," according to JPMorgan. "Post generates strong cash flow, which may be applied in large quantities to reduce debt and buy back stock over the next two years," Goldman said in a Friday note. Over the past six years, Post's free cash flow conversion rate was a median 156%, well above the median larger-cap food producer's 92% median conversion rate. The company routinely engages in portfolio transformation and is "not afraid" to buy lower-growth assets as long as they offer consistent cash flow, Goldman said. The company prioritizes free cash flow over earnings and does not pay a dividend.

Persons: Ken Goldman, Rachael Ray Nutrish, Goldman, —, Michael Bloom Organizations: Holdings, JPMorgan Locations: Thursday's

In their joint venture agreement, Baker Hughes says it uses C3.ai's solutions and also sells the product to companies in the oil and gas industry. CNBC's "Last Call" aired a report Thursday night on the investor lawsuit against C3.ai and the company's relationship with Baker Hughes. The lawsuit says the publicity about the massive Baker Hughes sales force "artificially inflated C3's stock" when the company first went public. Richard Drew | APIn an April 2023 filing, Baker Hughes announced it divested 1.7 million C3.ai shares, bringing its ownership to 6.9 million shares. Kerrisdale pointed to C3.ai's "highly conspicuous growth" in unbilled receivables, largely from Baker Hughes, and wrote that "accounting red flags abound with the Baker Hughes relationship."

Persons: Tom Siebel, Siebel, Thomas M, Chris J, Ratcliffe, it's, Baker Hughes, Logan Roy, Larry Ellison, Yasmin Khorram, Dan Brennan, We've, Brennan, he's, CNBC's, Reed Kathrein, Theranos, —, Kathrein, Richard Drew, they'd, unbilled, receivables, Siebel's, Ken Goldman, Goldman, Gil Luria, Davidson, Luria, Nick Wells, Scott Zamost, Sam Woodward, Tom Siebel's Organizations: Siebel Systems, Oracle, Bloomberg Tech Summit, Bloomberg, Getty, CNBC, Forbes, Siebel, C3, U.S . Department of Defense, Shell, Northern District of, SEC, Twitter, " Traders, New York Stock Exchange, AP, Point Capital Management, Spotify, C3 Energy, Revenue, Wall Locations: London, Redwood City , CA, Redwood City , California, Northern District, Northern District of California, unbilled receivables, Point

☆ Kraft Heinz lifts profit outlook on price hikes, easing costs
▼ + stars: | 2023-05-03 | by ( Aatrayee Chatterjee | ) www.reuters.com time to read: +2 min

(Reuters) -Kraft Heinz Co raised its full-year profit forecast on Wednesday on the back of higher prices and sustained demand for its packaged food items as raw material costs, which have plagued the industry, also ease. FILE PHOTO: A Heinz Ketchup bottle sits between a box of Kraft macaroni and cheese and a bottle of Kraft Original Barbecue Sauce on a grocery store shelf in New York March 25, 2015. REUTERS/Brendan McDermid/File PhotoShares of the Philadelphia Cream Cheese maker were up 3.9% in early trading after it also reported better-than-expected quarterly results. The strong outlook echoes comments from peers PepsiCo Inc and Mondelez, who have also lifted annual forecasts supported by price increases. Excluding one-off items, Kraft Heinz earned 68 cents per share, topping analysts’ estimate of 60 cents per share, according to Refinitiv IBES data.

☆ Beyond Meat shares surge as cost controls bear fruit
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +2 min

Feb 24 (Reuters) - Shares of Beyond Meat Inc (BYND.O) surged 13% in premarket trading on Friday as the plant-based meat maker's results indicated that its cost control measures were finally bearing fruit. At least three brokerages lifted their price targets on Beyond Meat's shares, after the company on Thursday topped expectations for quarterly sales for the first time since June 2021 and forecast annual revenue slightly above estimates. Beyond Meat's shares have slumped about 65% in the past twelve months, hammered by a string of downbeat results and forecast cuts stemming from collapsing demand for faux meat and elevated levels of freight and raw material costs. "Beyond Meat deserves credit for becoming more disciplined regarding profits and cash," J.P. Morgan analyst Ken Goldman said. Still, analysts cautioned that demand for plant-based meat remained weak, and that Beyond Meat faced a long road to profitability.

Underlining the bleak return prospects at home, hedge funds with Greater China strategies have lost 12.9% for the year to end-November - on track for their worst year since 2011, according to Eurekahedge data. Rich Chinese are also fretting about Xi Jinping's "common prosperity" drive to reduce income inequality, asset managers said, adding that they are looking at overseas private equity and property investment opportunities in countries like the United States and Japan. Although investing outside of mainland China is not a new development, a significant chunk of that wealth has usually been invested in Chinese assets such as Chinese securities listed in the offshore markets. The Boston-based asset manager has been receiving many queries from Greater China family offices to learn about U.S. economic policies and investment rules, he said. The U.S. consulate told Reuters that it frequently explains investment and economic trends in the United States to a wide variety of audiences.

☆ The dream of plant-based meat in fast food may already be dead
▼ + stars: | 2022-11-23 | by ( Mary Meisenzahl | ) www.businessinsider.com time to read: +3 min

Fast food chains have experimented with plant-based proteins for years with limited success. Plant-based meat is too expensive and adds too much complexity for widespread fast food adoption, an analyst said. Despite some exceptions like Burger King's Impossible Whopper, plant-based fast food menu items have largely been featured as limited-time offerings. It's "very hard" to convert meat eaters to plant-based meat, he said. Plant-based meat isn't likely to disappear from fast food menus, but it's also not going to replace beef.

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