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Beyond Meat will introduce a whole-muscle steak alternative as part of its pivot to win over health-conscious consumers. In recent months, Brown has blamed some of the plant-based meat industry's woes on misinformation from the meat industry and cattle farmers, such as skepticism about plant-based meat's processing. Beyond already sells plant-based steak tips, but the new product mimics the texture of a filet with mycelium, the rootlike part of fungi. Brown envisions the steak alternative as a substitute for chicken, topping salads and stuffing burritos as a source of protein. The new products have short ingredients lists, in the hopes of winning over customers who previously thought plant-based meat was too processed.
Persons: Ethan Brown, Dunkin, Brown Organizations: PepsiCo, American Cancer Society
Read previewA scientist and doctor who researches the role of the gut microbiome in our body's hormonal processes shared three things he avoids for his gut health. It's no surprise, then, that the global gut health supplement market has been valued at $12 billion. AdvertisementHere are three things he avoids for his gut microbiome. When we eat red meat, the bacteria in the gut make "dangerous" metabolites when digesting it, he said. AdvertisementAntibioticsAlthough antibiotics are crucial for treating infection and save millions of lives every year, they also disrupt the gut microbiome.
Persons: , It's, Dr, Max Nieuwdorp, Nieuwdorp, he's Organizations: Service, Business, American Heart Association, Biology, UCLA Health Locations: Netherlands, Cavan, UPFs
Cramer's Lightning Round: Beyond Meat is 'too risky'
  + stars: | 2024-05-30 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Riot Platforms' year-to-date stock performance. Stock Chart Icon Stock chart icon KLA's year-to-date stock performance. Stock Chart Icon Stock chart icon Beyond Meat's year-to-date stock performance. Stock Chart Icon Stock chart icon Advanced Micro Devices' year-to-date stock performance. Stock Chart Icon Stock chart icon Warby Parker's year-to-date stock performance.
Persons: we're, Warby, Warby Parker, Jim Cramer's Organizations: Devices, AMD, Nvidia
Meme stocks are in the spotlight this week. These so-called meme stocks, which gained popularity through social media platforms like Reddit and X (formerly known as Twitter), have attracted retail investors looking to make a quick profit. Future of meme stocks One analyst, who has previously been bearish on GameStop and tech stocks, said that while fundamentals for the stock have improved, GameStop is still in the "danger zone." 'Danger zone' stocks Here are some other stocks Trainer says is in his "danger zone" list, which also includes his "zombie stocks." He cited its "continuing deterioration" of its fundamentals, including its "unsustainable" expenses and steady cash burn.
Persons: David, Trainer, DoorDash's, Yun Li Organizations: GameStop, AMC, CNBC Pro, AMC Entertainment Holdings, Tilray
An edited image showing Mark Zuckerberg with a beard has raised a lot of eyebrows. The picture has been shared widely, with some users failing to notice Zuck's new beard was fake. An edited image of Zuckerberg with a fake beard has been going viral on social media. AdvertisementMe: Bearded Zuck you have to stop. Some users even took the opportunity to encourage the Meta CEO to grow some real facial hair.
Persons: Mark Zuckerberg, Priscilla Chan, , Zuckerberg, Mike Rundle, Kate Middleton's, Varun Mayya Organizations: Service Locations: @flyosity, Kensington
I know the legislature is doing a bill to try to protect our meat — You need meat, OK? "There's nothing about cultivated meat that is a conservative or a liberal thing," said Josh Tetrick, CEO of GOOD Meat — a cultivated meat company with the largest market share of the global industry so far. Other red-state politicians are also responding to the threat to their red meat, including Alabama State Sen. Jack Williams and Tennessee State Rep. Bud Hulsey, who have supported or proposed legislation to ban cultivated meat in their states. A nugget made from lab-grown chicken meat is seen during a media presentation in Singapore, the first country to allow the sale of meat created without slaughtering any animals.
Persons: , Ron DeSantis, DeSantis, Josh Tetrick, Mark Post, David Parry, Reuters SB1084, David Marshall, Alabama State Sen, Jack Williams, Bud Hulsey, Williams, Hulsey, hasn't, George Peppou, Justin Sullivan, there's, OpenSecrets, Alabama Sen, NICHOLAS YEO, Tetrick, Lauš Organizations: Service, GOP, Business, Maastricht University, Reuters, DeSantis, Arizona, Alabama State, Tennessee State, Marshall, FDA, USDA, Cargill, Foster Farms, US Department of Agriculture, Getty, Alabama, Foods Locations: Florida, Netherlands, Singapore, Alameda , California, California, AFP, United States, Czech
Read previewHenry Cavill and his girlfriend Natalie Viscuso are gearing up for a major milestone in their relationship: parenthood. October 27, 2022: Cavill and Viscuso make their red carpet debut at the world premiere of 'Enola Holmes 2'Henry Cavill and Natalie Viscuso at the world premiere of "Enola Holmes 2" at The Paris Theater on October 27, 2022, in New York. Advertisement"Partnering with Natalie Viscuso at Vertigo has been a blessing beyond words, without her we might not have found the perfect home at Amazon," he added. June 28, 2023: Viscuso supports Cavill at the season 3 premiere of 'The Witcher'Henry Cavill and Natalie Viscuso at the world premiere of season three of "The Witcher" on June 28, 2023, in London. January 24, 2024: Viscuso supports Cavill during the press tour for 'Argylle'Henry Cavill and Natalie Viscuso at the world premiere of the film "Argylle" on January 24, 2024, in London.
Persons: , Henry Cavill, Natalie Viscuso, Clark Kent, Viscuso, Natalie, Henry, he's, Cavill, Enola Holmes, Evan Agostini, Sherlock Holmes, Millie Bobby Brown, James Cameron's, Jordan Strauss, James Cameron, Scott Garfitt, Viscuco, Viscuso's, Scott A, Matthew Vaughn's, Argylle, Matthew Vaughn, Guy Ritchie's, Gus, Phillips Organizations: Service, Vertigo Entertainment, Legendary Entertainment, Business, Daily Mail, Hollywood, Paris Theater, The Paris Theatre, Dolby Theatre, Netflix, NYC, Ungentlemanly Locations: London, New York, New York City, Los Angeles, Rivia, South Korea
AdvertisementA good steak house shouldn't be inexpensive or easy to bookMeat is expensive to source, Michael said, and the restaurant's price range should reflect that. A good steak house shouldn't be too easy to book for a Friday night. Acrylic Asylum Art/Getty ImagesThere should be transparency in meat sourcingBoth brothers told BI that at a luxury steak house, you should be able to get the story behind what you're eating. A dull knife can take away from diners' overall experience, he said, which is the main reason to go to a steak house to begin with. "There's nothing worse than being in a high-end, high-check-average steak house and you're handed a dull knife," he told BI.
Persons: , Bryan, Michael Voltaggio, That's, Michael said, Michael, that's, there's, it's, Dixie, I'm Organizations: Service, Voltaggio, telltale, Business, Food, Washington Locations: Food
Read previewBeyond Meat has unveiled details of a massive turnaround plan, including raising the prices of its plant-based meat, as it struggles with slumping sales. Advertisement"This change in strategy does not reflect an abandonment of our long-sought price parity goal," Brown said, referring to the company's goal of making plant-based meat the same price as animal meat. Some products, including those in grocery stores, would barely change in price, Brown said. Misinformation about plant-based meat is 'scaring customers away'Beyond Meat posted net revenues for 2023 were $343.4 million, a decrease of 18% compared to 2022. It attributed declining US sales to weak demand for plant-based products, as well as Beyond Meat offering more discounts.
Persons: , Ethan Brown, Brown, Lubi Kutua Organizations: Service, Business, Bosh
“We know this is silly; we know this is fun,” said Marcy Galando, executive director of the Punxsutawney Groundhog Club. Members of Punxsutawney Groundhog Club, organized in 1899, care for Phil at a customized space beside Punxsutawney Memorial Library — where there's a window with a view into the creature's burrow. The Punxsutawney groundhog makes predictions but he's not always predictable. In 1998, a groundhog club leader wearing a $4,000 groundhog suit reported being assaulted by a half-dozen young men. Intended to preserve Pennsylvania German culture and traditions, clubs would sometimes fine those who were caught speaking anything but their Pennsylvania Dutch language at meetings.
Persons: Phil, there'll, Bill Murray, , there's, Marcy Galando, Joseph, Jesus, Don Yoder, Yoder, he's, didn't, PHIL, Charlie Hart, Hart, Orphie, “ Octoraro Orphie, It's, Travis Lau, ” Lau, groundhogs, William W, Donner, ” Donner Organizations: Historians, University of Pennsylvania, Punxsutawney, Pennsylvania, University, National Centers for Environmental, Oceanic, Atmospheric Administration, U.S Locations: Pa, Pennsylvania, U.S, Canadian, Europe, Jerusalem, United States, Morgantown , Pennsylvania, , Pittsburgh, Punxsutawney, Quarryville, Lancaster County, Pennsylvania's
Not every corner of the plant-based food industry has been burned. After the boom-and-bust cycle of Beyond Meat stock, analysts have wondered what comes next for the plant-based food space. The alternative protein market Beyond Meat's struggles have left some skeptical about which companies have what it takes to meet the needs of consumers who want to avoid animal-based products for health or environmental reasons. After topping $230 per share at its highest point, Beyond Meat stock now trades below $7. There's a business argument beyond the alternative protein market that can bode well when forecasting demand, Morningstar's Goldstein said.
Persons: Kristen Owen, Oppenheimer, Morgan Stanley, Michael Canfield, FactSet, Canfield, Corteva, Morningstar, Seth Goldstein, Goldstein, Vincent Andrews, Owen, Zepbound, milks, bode, Morningstar's Goldstein, Archer, Michael Bloom Organizations: Good Food Institute, Daniels, Midland Locations: Green Plains, U.S, Green, There's
[1/4] An employee works at a laboratory of Bene Meat Technologies company, which is planning to scale up production of lab-grown meat for use in pet food, in Prague, Czech Republic, November 7, 2023. Bene Meat has turned its focus to the pet food sector to deliver a product that can be marketed to global pet food makers as a raw material for inclusion in their final products. He said Bene Meat's costs would allow final products to sell around the price level of premium and super-premium pet food products on the market. The company is in talks with pet food makers on supplies, but also aims to work with them to potentially set up production lines at their current facilities. It also plans to develop its own brand of final pet food products.
Persons: David W Cerny, Meat, Roman Kriz, Kriz, Bene, Jan Lopatka, Sharon Singleton Organizations: Bene Meat Technologies, REUTERS, Bene, Technologies, European Union, Reuters, Thomson Locations: Prague, Czech Republic, PRAGUE, Czech, United States, Singapore
Beyond Meat’s revenue fell nearly 9% in the third quarter as higher sales of its plant-based meat in Europe failed to make up for plummeting demand in the U.S. Beyond Meat cut its third-quarter and full-year revenue forecast last week, saying an anticipated rebound in plant-based meat sales during the quarter didn't occur. But in the U.S., he said, ads funded by the meat industry and others have led consumers to see plant-based meat as overly processed and unhealthy. The higher price of plant-based meat has also hurt U.S. sales at a time when consumers are stressed about inflation, he said. Frozen plant-based meat sales, including items like tenders and nuggets, were down 6%.
Persons: Ethan Brown, It's, Brown, McDonald’s, U.S . Brown, , El Organizations: FactSet, Panda Locations: Europe, U.S, China, U.S ., Meat's, El Segundo , California
The plant-based meat company said Thursday that the reduction of about 65 employees is part of a broader corporate review. U.S. demand for plant-based meat has plummeted this year. Frozen plant-based meat sales, including items like tenders and nuggets, were down 6%. Plant-based meat is also fighting perceptions that it's overly processed and unhealthy, stoked in part by ads released by rival food companies. McDonald's has tested Beyond Meat's products in the U.S. but hasn't added them to its permanent menu.
Persons: , Ethan Brown, Brown, El, McDonald's, hasn't Organizations: FactSet Locations: El Segundo , California, Europe, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARM is IPOing profitably with massive sales in revenue, says Chantico Global CEOChantico Global CEO Gina Sanchez joins 'The Exchange' to discuss how to trade the IPO market, strong brand recognition in the profitable spin-off of Kenvue, and the pullback in Beyond Meat's market share.
Persons: Gina Sanchez Organizations: ARM, Chantico Locations: Kenvue
Beyond Meat's sales tanked by nearly a third in Q2, which the company attributed to weak demand. Consumers are financially squeezed and they're skeptical of the health benefits of plant-based meat, execs said. Brown said that the "number one issue" with the plant-based meat category was that it ultimately wasn't bringing in enough new consumers. International markets saw a much smaller drop in revenues year-over-year. While environmental concerns are a major motivator for people buying plant-based meat in Europe, "here in the US, it's more driven by health," Brown said.
Persons: execs, Ethan Brown, Brown, Lubi Kutua, Kutua Organizations: Service Locations: Europe, Wall, Silicon
Beyond Meat's stock fell more than 20% in morning trading Tuesday after the company reported weak sales, cut its full-year revenue forecast and walked back its goal of becoming cash-flow positive in the second half of the year. The company, which makes meat substitutes, has struggled for roughly two years as U.S. consumer interest in its products has waned. However, CEO Ethan Brown told analysts on the company's conference call Monday evening that its weak sales will likely delay its target of becoming cash-flow positive by the second half of 2023. U.S. demand for Beyond's meat alternatives appears to be declining at a faster rate, even as the company cuts its prices 8.6%, mostly through discounts. Beyond also cut its full-year revenue outlook to a range of $360 million to $380 million, compared to the $388 million Wall Street expected, according to Refinitiv.
Persons: Ethan Brown, Brown Organizations: Meat Inc, U.S, Wall Locations: Encinitas , California
REUTERS/Patrick T. Fallon/File PhotoAug 7 (Reuters) - Beyond Meat (BYND.O) cut annual revenue forecast and missed second-quarter net sales estimates, as slowing demand for its pricier plant-based meat products shows no signs of recovery, sending shares down 8% in extended trading on Monday. Bogged down by inflationary pressures, customers are opting for lower-priced animal protein over alternatives such as plant-based products. The ambiguity around the health benefits of plant-based meat is also weighing on growth, said CEO Ethan Brown in a post-earnings call. The company forecast 2023 revenue between $360 million and $380 million, compared with its prior expectation of $375 million to $415 million. Beyond Meat's quarterly net revenue fell nearly 31% to $102.1 million, missing analysts' average estimate of $108.4 million, according to Refinitiv data.
Persons: Patrick T, Ethan Brown, Arun Sundaram, Ananya Mariam Rajesh, Shilpi Majumdar Organizations: Kroger, REUTERS, CFRA, Thomson Locations: Los Angeles , California, U.S, Bengaluru
Groups connected to the meat industry have said for years that plant-based meats aren't healthy. But it also counters one of the most common criticisms of plant-based meats from the animal meat industry – that these products are highly processed and unhealthy to eat. The Center has ties to the meat industry, according to Fast Company. In its own ads and messaging, the Center said that plant-based meat was "ultra-processed" and that the products posed health risks. The ad comes as Beyond Meat, Impossible, and other plant-based meat makers deal with a slump in sales.
Persons: Steven, Rick Berman, John Mackey Organizations: Service, Fast Company, Center for Consumer, Center, Foods, American Heart Association Locations: North Dakota, Wall, Silicon
A Florida steakhouse chain is joining the fray by selling a $69 plant-based steak by Chunk Foods. Charley's Steak House is billing itself as the first steakhouse chain in the US to add a plant-based steak to its menu. The plant-based steak is so good that some staffers were fooled during blind taste tests, company Executive Vice President Clark Woodsby told Insider. Last year, Beyond Meat's sales slumped as consumers turned away from plant-based meat substitutes. To date, restaurant diners have experienced plant-based foods at fast-food chains like KFC, Pizza Hut, McDonald's, and Chipotle.
Persons: mignon, Charley's, Clark Woodsby, Mignon, Woodsby, Seth Miller, Miller, Amos Golan, Golan Organizations: Chunk Foods, Service, Chunk, Town, Texas Cattle Company, Foods, Steak, Foods Chunk Locations: Florida, Wall, Silicon, Central Florida, FishBones, Texas, Charley's
"The food industry is undergoing a major revolution," Telsey Advisory Group analyst Sarang Vora wrote in a June 26 note. The rise, fall and future of plant-based meat Plant-based meat has been around for decades. The firm is forecasting a $450 billion market opportunity for cultivated meat by 2040, perhaps reaching 20% of the global meat market. Investing in cultivated meat For investors interested in getting in on the cultivated meat "revolution," it is still early stages, said Telsey's Vora. Archer-Daniels-Midland also recently announced it is collaborating with Believer Meats on new ways to develop and commercialize cultivated meat products.
Persons: Sarang Vora, Tyson, that's, we've, Alec Lucas, Laine Clark, it's, Clark, We'll, Hiral Patel, Brazil —, Institute's Clark, We're, It's, Telsey's, Kellogg, Steve Cahillane, Steakholder, Ben Haynor, — CNBC's Michael Bloom Organizations: Advisory, Department of Agriculture, Foods, McKinsey & Company, Tyson Foods, Kellogg, Global, Food Innovation, Whole Foods, Food Institute, CNET, Barclays, McKinsey, Daniels, Midland, Reuters, Steakholder, Global Partners Locations: Jordan, United States, U.S, Norway, China, India, Brazil
But first, the practical perspective: Neither company has yet had its US-approved cultivated chicken product certified as halal or kosher. Religious and ethical vegetariansBecause cell-cultured meat is developed from animal cells, it’s not considered vegetarian by Upside Foods or Good Meat. But people who don’t eat meat for animal welfare or environmental reasons may want to give cultivated meat a try. In this case, the question of whether cultivated meat is considered meat, from a religious perspective, is significant. For cultivated meat to be considered kosher, it “would require that it came from a kosher slaughtered animal.” Chicken that is grown from cells taken from a kosher, unfertilized egg would be considered kosher, he said.
Persons: it’s, Mat McDermott, , McDermott, Hare Krishnas, Lord Krishna, Anuttama Dasa, Mohammad Hussaini, Hussaini, kashrut, Menachem Genack, ” Genack, David Lau, Didier Toubia, Toubia, , There’s Organizations: New, New York CNN, USDA, Inc, Foods, Hindu American Foundation, ISKCON, International Society, Krishna, American Halal Foundation, OU, CNN Locations: New York, United States, Israel, Persian Gulf, Southeast Asia
Proponents of cultured meat say it's healthier and more environmentally friendly than traditional meat. As a result of the decision, the USDA will inspect cultured meat facilities, just as it does traditional meat processing plants and slaughterhouses. The meat produced by Upside Foods and Good Meat will be labeled as "cell-cultivated chicken" when sold to consumers. Chef Jose Andres has placed the first order to sell Good Meat's cultured chicken to serve it in an undisclosed Washington, D.C., restaurant, the company said. Even armed with cash and regulatory approval, cultured meat startups face many hurdles before their products can become mainstream.
Persons: we're, Josh Tetrick, Joinn Biologics, Chef Jose Andres, Dominique Crenn, Uma Valeti Organizations: U.S . Department of Agriculture, USDA, Eat, U.S . Food, Drug Administration, Foods, D.C, Companies, McKinsey Locations: U.S, Singapore, United States, Washington, San Francisco
Additionally, Cargill began marketing several plant-based protein ingredients, made from soy, pea and wheat, to food and beverage manufacturers worldwide. What to expect for plant-based meat in next decade Cargill's calculated approach to plant-based meats coincides with the nascent industry's trajectory. And then there's the consumer's appetite to pay a premium price for plant-based meat. So Cargill's biggest competition will be the established plant-based meat companies, like Beyond and Impossible, he said. The future of plant-based meat might be analogous to the ongoing transition to electric vehicles.
Persons: Florian Schattenmann, Cargill Cargill, Cargill, Schattenmann, it's, John Baumgartner, Baumgartner, Caroline Bushnell, Bushnell, that's, Seth Goldstein, Goldstein, Tyson's Organizations: Cargill, Foods, Tyson Foods, Hormel Foods, Smithfield Foods, Cargill Inc, The, Bloomberg, Getty, Foods Cargill, Mizuho Securities USA, Good Food Institute, Cubiq Foods, FDA, North, Food and Drug Administration, Morningstar Research Services, Nielsen, annualized Nielsen, Nestle, Tesla, tiptoed, Ford, GM, Hyundai, Volkswagen Locations: U.S, Minneapolis, Montreal, Quebec, Canada, Spanish, Berkeley , California, Puris, North American, Netherlands, Bflike, Belgian, North America
It probably doesn't taste like woolly mammoth, a meat specialist and mammoth DNA researcher said. The Belgian startup Paleo says it added woolly mammoth myoglobin to a plant-based burger. The mammoth meatball doesn't have either of those elements from woolly mammoth. Mammoth myoglobin doesn't necessarily bring mammoth flavorThough he didn't taste it, Ryall said everyone could smell the meatball while it was cooking. So why make a mammoth meatball that doesn't taste like mammoth?
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