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☆ Pepsi once offered a fighter jet as a joke prize in a promotion. A student tried to claim it anyway.
▼ + stars: | 2022-11-20 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +4 min

Pepsi launched a "points" promotion in 1996 that included a "joke" prize of a $23M fighter jet. College student John Leonard took this challenge seriously, and launched a plan to nab the prize. Pepsi launched a rewards scheme called Pepsi Points, with customers able to redeem items using points accrued from buying its drinks. The company released a TV commercial for the promotion that ended with the claim that 7 million points would allow a Harrier fighter jet worth about $23 million to be redeemed. However, he saw a loophole: buy Pepsi Points for 10 cents each, meaning the seven million points needed for the jet would cost $700,000.

☆ I couldn't let my mom sell our family's drive-in theater, so I took over. Now I work with Universal, Warner Brothers, and Paramount to bring hit movies to the cornfields of Idaho.
▼ + stars: | 2022-11-20 | by ( Eboni Boykin-Patterson | ) www.businessinsider.com time to read: +10 min

She says she never thought she'd come home to run her family's drive-in theater. Of course when you're young, you don't realize how special something like our drive-in really is. When I was younger I never imagined I'd run my family's drive-in theater one day — but I couldn't let my mom sell itMy parents had sold their indoor theaters over the years, so the drive-in was the last one my mom was still operating. With any drive-in theater, weather is the biggest determinant of turnout. The drive-in really brings the community together.

☆ The DEA says drug cartels are putting fentanyl in candy to sell to kids. Cartel operatives say it's 'actually the opposite.'
▼ + stars: | 2022-11-17 | by ( Luis Chaparro | ) www.businessinsider.com time to read: +7 min

Two operatives in the Sinaloa Cartel told Insider they're actually trying to do the opposite. But operatives in the Sinaloa Cartel, the Mexican criminal organization behind the biggest shipments of fentanyl to the US, told Insider their intention is actually the opposite. US authorities began their campaign several months before Halloween, warning of alleged attempts by Mexican drug cartels to entice kids into drugs by selling rainbow-colored fentanyl pills and adding fentanyl to Halloween candies. "Rainbow fentanyl — fentanyl pills and powder that come in a variety of bright colors, shapes, and sizes — is a deliberate effort by drug traffickers to drive addiction amongst kids and young adults," Milgram said. The Sinaloa Cartel operative denied that his organization is targeting kids or young adults in the US as their final users.

The EPA shut down the refinery, formerly called Limetree Bay, in May 2021 after a series of chemical releases into the environment sickened neighboring residents. The plant owners intend to restart the facility, but have let it fall into disrepair, the EPA said last month. The new Prevention of Significant Deterioration (PSD) permit would require detailed air-quality analyses and the use of the best available air pollution control technology, the EPA said Thursday. An earlier owner, Hovensa, was required to spend $700 million on pollution control equipment, among other obligations after violating the Clean Air Act by increasing emissions without first obtaining pre-construction permits and installing required pollution control equipment. Hovensa went bankrupt and shut down the plant the following year; later Limetree Bay Ventures bought the refinery in December 2015.

☆ I spent a night on a superyacht and now I know why the superrich love them so much
▼ + stars: | 2022-11-13 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +4 min

I spent a night on a superyacht in Croatia that can accommodate up to 30 people. The superrich love them and the yachting industry is booming and I now know why. Miha Menegalija of charter broker Goolets says owning a superyacht is one way to showcase your wealth. GooletsBefore boarding the Ohana, I had never been on a boat, let alone on a superyacht. It may not come as a great surprise, but I certainly could get used to spending plenty of time on a superyacht.

☆ Mexico's FEMSA to purchase financial services NetPay in B2B fintech bid
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: 1 min

MEXICO CITY, Nov 7 (Reuters) - Mexico's FEMSA (FEMSAUBD.MX) has signed an agreement to purchase financial services company NetPay as the retailer and Coke bottler expands its digital payments portfolio into business-to-business transactions, the company said on Monday. "This acquisition will allow us to extend our value proposition to micro, small and medium-sized companies," Digital@FEMSA Chief Executive Jose Antonio Fernandez said in a statement to Mexico's main stock exchange. FEMSA had purchased a minority stake in NetPay in 2019, it added, and hopes to complete the full purchase by the first quarter of 2023. Reporting by Kylie Madry; Editing by Christian PlumbOur Standards: The Thomson Reuters Trust Principles.

☆ How a media executive you've never heard of brokered one of the most consequential deals in Hollywood — and brought us 'Seinfeld'
▼ + stars: | 2022-11-04 | by ( Jane Biondi Munna | ) www.businessinsider.com time to read: +9 min

In a new book, Jane Biondi Munna recounts highlights from her father Frank Biondi's career. In a new book, Biondi's daughter, Jane Biondi Munna, recorded and compiled the story of his career. The author, Jane Biondi Munna, and her late father, Frank Biondi. Apparently some guy, some comedy writer, was living in his car — actually living in his car — when he sold the show to Castle Rock, and Castle Rock sold it to NBC. From LET'S BE FRANK: A Daughter's Tribute to Her Father, The Media Mogul You've Never Heard of by Jane Biondi Munna.

☆ Netflix has launched its ad-supported tier — here's everything we know about how the streaming giant is pitching advertisers
▼ + stars: | 2022-11-03 | by ( Lauren Johnson | Elizabeth Pham Janowski | ) www.businessinsider.com time to read: +7 min

Netflix launched its ad-supported tier in the US on November 3. The new ad-supported tier does not have the full Netflix catalog and will offer video quality up to 720p. NetflixThe ad-supported tier is initially offered in 12 countries, beginning with Canada and Mexico on November 1. Netflix has been pitching advertisers with aggressive pricing, according to advertisers briefed by Netflix. Advertisers said they expect prices to drop after Netflix's ad-supported tier launches, as has been typical with other streaming services like NBCUniversal's Peacock.

☆ Goldman says dividend growth stocks win in recessions – here are 10
▼ + stars: | 2022-10-31 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Those planning for more disruption should prioritize stocks with a decent dividend yield and, perhaps more importantly, dividend growth. "In the mid-1970s, high dividend yield stocks struggled to compete with rising cash yields and lagged the S & P 500," Kostin said. Goldman recommends its recently refreshed basket of dividend growth stocks. Verizon Communications carries the highest dividend yield on the list, at 7%, with dividend growth of 2%. NXP Semiconductors and Microchip Technology have some of the fastest dividend growth for the sector, at 22% each.

☆ Earnings have been mostly good. Just avoid the tech wreck
▼ + stars: | 2022-10-26 | by ( Paul R. La Monica | Cnn Business | ) edition.cnn.com time to read: +4 min

Corporate earnings have actually been, to quote "Curb Your Enthusiasm's" Larry David, pretty, pretty good. The Dow was up more than 300 points, or 1%, while the S&P 500 gained 0.6%. what used to be dubbed FAANG stocks before name and ticker changes) make up a big chunk of the weighting of the S&P 500. Nearly three-quarters of the S&P 500 companies that have reported earnings so far have topped forecasts. So the weaker earnings are more a function of higher costs as opposed to a significant slowdown in sales.

☆ The iPhone will be irrelevant one day. We already know how it will happen.
▼ + stars: | 2022-10-26 | by ( Michael Gartenberg | ) www.businessinsider.com time to read: +5 min

The iPhone has become a "nonsubstitutable infrastructure," columnist Michael Gartenberg says. The iPhone — with iOS and the App Store — has maintained such a dominant position in the mobile industry for so long, it has achieved the status of what's known as "nonsubstitutable infrastructure." Nonsubstitutable infrastructure is something that so strongly holds users, a competitor can't get them to replace it. The New Jersey Turnpike is nonsubstitutable infrastructure. Despite this, it's inevitable that the iPhone and the Apple ecosystem will be replaced by something else.

☆ Premarket stocks: Don't be fooled by a strong GDP report
▼ + stars: | 2022-10-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

That’s why it’s so surprising that the US economy is expected to show robust growth in Thursday’s third-quarter GDP report. Economists warn that the report could be a one-hit-wonder that overstates momentum in an economy that is actually slowing. “There is more braking power being inflicted on the US economy than will be at all apparent in the third-quarter GDP report,” wrote Kelly. Central bank officials are going to be looking at underlying metrics in the report, and will likely ignore headline numbers, said Patterson. The bottom line: The rejiggering of trade balances often falsely inflates economic growth calculations ahead of a recession.

☆ 12 queer icons to channel this Halloween
▼ + stars: | 2022-10-25 | by ( Ellie Rudy | ) www.nbcnews.com time to read: +10 min

Without further ado, here is a selection of queer icons and pop culture favorites — in no particular order — whom you can channel for Halloween (a.k.a. For a relatively stress-free Halloween ensemble, throw on a tux, top hat, a pocket square and some fierce red lipstick. To channel Ms. Kahlo this Halloween, you’ll need her signature unibrow (eyeliner or an eyebrow pencil should do the trick), a flower crown, red lipstick, a colorful blouse and a floor-length skirt. For this costume, you’ll need a fedora, a (preferably pastel) dress shirt, a tie matching the hat and, if you’re really feeling the fantasy, a color-coordinated sweater vest. If you dress up as any of these queer icons and pop culture favorites for Halloween, tag @NBCOut on Twitter or Instagram in a costume photo!

Shares of Coca-Cola rose 2.3% after the soda giant also beat third-quarter revenue and profit estimates. On an adjusted basis, Coca-Cola earned 69 cents per share on net revenue of $11.1 billion. Analysts had expected earnings of 64 cents per share on revenue of $10.52 billion, according to IBES data from Refinitiv. The company forecast organic revenue to rise 14% to 15% in 2022, compared to prior expectation of 12% to 13% increase. It raised its full-year adjusted earnings per share growth forecast to 6% to 7%, from 5% to 6%.

☆ Coca-Cola raises revenue, profit forecasts on boost from higher prices
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +1 min

Oct 25 (Reuters) - Coca-Cola Co (KO.N) raised its annual revenue and profit forecasts on Tuesday, banking on demand to remain steady for its sugary sodas amid multiple price increases taken to blunt the impact of surging costs. PepsiCo raised its annual forecasts earlier this month after topping quarterly revenue estimates. Coca-Cola said net revenue rose 10% to $11.1 billion in the third quarter ended Sept. 30. Analysts on average had expected revenue of $10.52 billion, according to Refinitiv IBES data. Coca-Cola forecast full-year adjusted earnings per share to rise 6% to 7%, compared to prior expectation of 5% to 6% growth.

☆ Coca-Cola raises full-year outlook as earnings beat expectations
▼ + stars: | 2022-10-25 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Coca-Cola on Tuesday raised its full-year outlook after beating Wall Street's expectations for its quarterly earnings and revenue. Foreign currency is also predicted to weigh on Coke's earnings and revenue. Shares of the company rose 3% in premarket trading. For 2022, Coke now expects comparable earnings per share growth of 6% to 7%, up from its prior range of 5% to 6%. The company also raised its outlook for organic revenue growth to 14% to 15% from a range of 12% to 13%.

The idled St. Croix refinery, formerly called Limetree Bay, was shut down by the U.S. Environmental Protection Agency in May 2021 after a series of chemical releases into the environment sickened neighboring residents. The refinery was sold in December 2021 for $62 million to West Indies Petroleum and Port Hamilton Refining and Transportation, following the bankruptcy of its former private equity owners. The owners also failed to provide hazard assessments and other documentation for the facility, the EPA said. The refinery was sold in December 2021 for $62 million to West Indies Petroleum, a Jamaican oil storage company that intends to operate the facility. In June, West Indies Petroleum denied its ownership of the facility, though the EPA has said it does.

☆ Coke products might look a little different next year
▼ + stars: | 2022-10-25 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

To keep price-conscious customers in the fold, companies like Coke offer more packaging options. In the third quarter, the company introduced a value collection that offers customers products in a variety of sizes. Those items, available at some stores in the US, are “helping to retain and recruit more consumers while creating value for our customers,” Quincey said. (Coca-Cola also recently announced a change to the look of Sprite bottles, ditching its signature green for clear plastic, which is easier to recycle.) And it plans to continue to bolster Coke Zero Sugar, a growth driver, with more marketing and other innovations.

☆ What Cramer is watching Tuesday — UPS and Halliburton beat, Meta catches price cuts
▼ + stars: | 2022-10-25 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

What I am looking at Oct. 25, 2022 Delivery service UPS beats — Q3 adjusted EPS of $2.99 versus consensus $2.85 — but only reaffirms guidance. Club holding Meta Platforms (META) gets two more price cuts: KeyBanc lowers to $175 from $196, Jefferies cuts to $200 from $225. (Jim Cramer's Charitable Trust is long HAL, META, STZ. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. A United Parcel Service (UPS) truck delivers boxes in Manhattan on April 26, 2022 in New York City.

☆ Retirees hit hard by inflation say they have cut down on meals, entertainment
▼ + stars: | 2022-10-25 | by ( Gabe Cohen | ) edition.cnn.com time to read: +3 min

CNNSeniors on a fixed income have been hit particularly hard by inflation, with September prices up 8.2% from a year ago. The price hikes are even steeper in areas like Tampa, Florida, where the housing market has exploded. It’s hard,” Johnson said. The family would like to buy a home, but the draining price hikes and red-hot housing market are making that more difficult. As she weathers price hikes on food, gas, and personal items, she’s stopped buying puzzles, her favorite hobby.

☆ Earnings playbook: How to trade the busiest week of the season thus far, including Apple and Amazon
▼ + stars: | 2022-10-23 | by ( Fred Imbert | ) www.cnbc.com time to read: +17 min

It's the busiest week of the earnings season thus far, with nearly 150 S & P 500 components set to report. What history shows: Coca-Cola has outperformed analyst earnings expectations in the last 11 quarters, FactSet data shows. Alphabet is set to report earnings after the close, with management expected to hold a conference call at 5 p.m. What history shows: FactSet data shows Microsoft's earnings per share have come in above expectations in 24 of the last 25 quarters. What history shows: McDonald's earnings per share have outperformed expectations in six of the last 10 quarters, FactSet data shows.

☆ Here are Friday's biggest analyst calls: Apple, Netflix, Bank of America, Amazon, AT&T, Snap & more
▼ + stars: | 2022-10-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Telsey downgrades Under Armour to market perform from outperform Telsey said it's concerned about too much inventory weighing on the stock. Bank of America downgrades Snap to neutral from buy Bank of America downgraded the stock after its "mixed" earnings report. " JPMorgan reiterates Apple as overweight JPMorgan said investors are too focused on iPhone growth heading into Apple earnings next week. Raymond James downgrades KB Home, Toll Brothers and PulteGroup to market perform from strong buy and D.R. Horton to outperform from strong buy and Lennar to market perform from outperform Raymond James downgraded several homebuilders due to rising mortgage rates.

☆ FEMSA's fintech arm eyes 10 million users in Mexico by 2023
▼ + stars: | 2022-10-20 | by ( Valentine Hilaire | ) www.reuters.com time to read: +2 min

REUTERS/Daniel Becerril/MEXICO CITY, Oct 20 (Reuters) - Spin by Oxxo, the financial technology initiative launched by Mexican bottler and retailer Femsa, is set to reach 10 million users by 2023, up from four million currently, Spin's Director General Asensio Carrion told Reuters. Spin by Oxxo, which has been financed with internal funds, has quickly become a major player in Mexican fintech. For comparison, Latin America's largest fintech Nubank has about 2.1 million customers in the country, while local player Stori aims to hit the two million client mark by 2023. Mexico's Grupo Financiero Banorte, in its second-quarter results, said it had 6.7 million digital clients. The company has more than 20,600 Oxxo stores across Latin America, and has plans to increase the number by 50% over the next decade.

☆ Elon Musk says he's not like Warren Buffett as he actually makes things - and rules out copying Berkshire Hathaway's model
▼ + stars: | 2022-10-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Elon Musk made a clear distinction between himself and Warren Buffett on an earnings call. "I'm not Warren Buffett," Musk said on the call. "I'm not Warren Buffett's biggest fan, frankly," Musk said last year. After Musk dismissed Buffett's idea of competitive moats as "lame" in 2018, the Berkshire chief responded: "Elon may turn things upside down in some areas. Read more: David Rubenstein sees Warren Buffett as the ultimate investor.

☆ Engine No. 1 takes stake in Coca-Cola, pushes for better recycling- Semafor
▼ + stars: | 2022-10-18 | by ( Shashwat Awasthi | Byron Kaye | ) www.reuters.com time to read: +1 min

1 has taken a small stake in Coca-Cola Co (KO.N) and is pushing the soda giant to ramp up its efforts to recycle more of its cans and bottles, newly launched global news platform Semafor reported on Tuesday. The investor has suggested a partnership between Coca-Cola and garbage collection and recycling company Republic Services Inc (RSG.N), in which Engine No. 1 holds a stake, the report said, adding that Coke executives have reached out to Republic. Coca-Cola, Engine No. Register now for FREE unlimited access to Reuters.com RegisterReporting by Uday Sampath in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

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