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☆ The S&P 500 will crash 30% by December as spending slumps, profits shrink, and banking problems mount, markets guru Larry McDonald warns
▼ + stars: | 2023-05-19 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

The S&P 500 will plunge by almost 30% to around 3,000 points by December, Larry McDonald has warned. He sees less government spending, slimmer corporate profits, and banking pressures as key drivers. McDonald made a similar call in early March, when he declared the stock market could tank 30% within the next 60 days. The prospect of less spending and investment, stricter lending, steeper debt payments, and greater unemployment bodes poorly for corporate profits and stock prices. Instead, he recommended beaten-down, cyclical stocks in sectors such as energy, and hard assets such as gold, silver, and platinum.

☆ Software giant Oracle and five consumer names are among Wall Street’s most overbought stocks
▼ + stars: | 2023-04-08 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

A stock is considered overbought if its 14-day RSI goes above 70, meaning investors should consider easing their exposure. Meanwhile, a stock with a 14-day RSI under 30 is considered oversold, meaning it may want more to that name. CNBC Pro screened for S & P 500 stocks in overbought territory, based on their relative strength index. Oracle topped the list with a 14-day RSI of 95.6. FRC 1M mountain FRC this past month Other stocks approaching oversold territory are Charles Schwab , Digital Realty , Applied Materials , AMD , C.H.

☆ Watch Live: Spotlighting female founders closing the gap for women in the workforce
▼ + stars: | 2023-03-30 | by ( Harriet Taylor | ) www.cnbc.com time to read: +3 min

First, Boorstin will speak with tech venture capitalists Freada Kapor Klein and Mitch Kapor, founding partners of Kapor Capital Partners and the authors of "Closing the Equity Gap," published by Harper Business. Through Kapor Capital, they invest in entrepreneurs whose products and services aim to close social and economic equity gaps while building successful businesses. Boorstin will also speak with them about the current economic environment and what can be done to mitigate the impact on fundraising for minority founders. Allison Whalen is the co-founder and CEO of Parentaly, which works with companies to administer parental leave programs. Hear from these change-makers who are delivering social and economic returns, building successful companies, and sharing key insights they've learned along the way.

HERSHEY, Pennsylvania, March 23 (Reuters) - Hershey Co (HSY.N) is looking to reduce "trace" amounts of lead and cadmium in its chocolate, chief financial officer Steve Voskiul told Reuters on Wednesday, after Consumer Reports found that some dark chocolate bars had potentially harmful levels of the heavy metals. Consumer Reports found that Hershey's Lily's extremely dark chocolate 85% cocoa bar was high in lead and cadmium. Its Hershey's Special Dark mildly sweet chocolate and Lily's extra dark chocolate 70% were also high in lead according to the report. Voskuil said the manufacturing and cleaning process for cocoa beans removes the "vast majority" of lead and cadmium. Hershey is "evaluating" if it can remove more of the metals through additional cleaning of cocoa beans or alternate sourcing, he said.

HERSHEY, Pennsylvania, March 22 (Reuters) - Hershey Co (HSY.N) is looking to reduce "trace" amounts of lead and cadmium in its chocolate, chief financial officer Steve Voskiul told Reuters on Wednesday, after Consumer Reports found that some dark chocolate bars had potentially harmful levels of the heavy metals. Consumer Reports, a nonprofit consumer group, tested chocolate bars including those made by Hershey late last year and found that some of them contained possibly harmful levels of lead, cadmium or both for people who eat more than one ounce per day. Consumer Reports found that Hershey's Lily's extremely dark chocolate 85% cocoa bar was high in lead and cadmium. Its Hershey's Special Dark mildly sweet chocolate and Lily's extra dark chocolate 70% were also high in lead according to the report. Voskuil said the manufacturing and cleaning process for cocoa beans removes the "vast majority" of lead and cadmium.

☆ Walmart offers affordable Easter meals to lure thrifty shoppers
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +1 min

March 13 (Reuters) - Walmart Inc (WMT.N) said on Monday it would offer Easter meals and bundles at affordable prices, a move aimed at drawing more customers to its stores at a time when egg prices have surged and consumers are keeping a tight grip on their wallets. The price of eggs, a staple of Easter baskets, has been near a record high for months as outbreaks of avian flu have killed more than 58 million backyard and commercial chickens and turkeys since February 2022. Walmart said on Monday it would keep the prices of its Easter essentials consistent with 2022 and offer the Easter meal and basket combo for less than $100, both online and in stores. This year, Walmart's Easter meals and baskets will include staples like ham, green beans and cherry pies, along with decorative grass, Hershey's (HSY.N) Milk Chocolate Bunnies and Reese's Eggs. Reporting by Mehr Bedi in Bengaluru and Siddharth Cavale in New York; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

☆ Reese's calling its new peanut butter cups 'plant-based' is the clearest sign the term has lost all meaning
▼ + stars: | 2023-03-08 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

Hershey is debuting a chocolate bar and Reese's peanut butter cups that are plant-based. The candies use oat milk instead of dairy milk. It's the latest plant-based version of a packaged food as the term becomes over-used. The Hershey Co., which makes both of the candies, will start selling plant-based peanut butter cups this month, the company said Tuesday. The peanut butter cups will be the first vegan chocolates that the company has sold across the US, the company said.

☆ Hershey says it stands by its International Women's Day campaign featuring a trans woman even after calls to boycott the company
▼ + stars: | 2023-03-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Hershey says it stands by its International Women's Day campaign featuring a trans woman. The campaign featured Fae Johnstone, a trans woman, on chocolate-bar wrappers. The campaign triggered conservatives on social media who are calling for a boycott of the company. As part of its He for She campaign, Hershey is featuring Fae Johnstone, a trans-rights activist, on limited-edition chocolate bar wrappers in Canada. Her tweets were met with praise and support from some, but also with criticism from conservatives and calls to boycott Hershey.

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YouTube is shaking up its influencer-marketing program BrandConnect. As part of the layoffs, the BrandConnect team shrunk, with several people who identified themselves as part of that team posting on LinkedIn that they'd been let go. Many of the insiders said they were unclear as to YouTube's future plans for BrandConnect and its team. Two talent managers said the BrandConnect team would routinely present deals that paid mid-five-figures. But sourcing deals focused on YouTube had begun to feel out of step with the market, some insiders said.

☆ Consumer Reports urges dark chocolate makers to reduce lead, cadmium levels
▼ + stars: | 2023-01-23 | by ( Jonathan Stempel | ) www.reuters.com time to read: +1 min

NEW YORK, Jan 23 (Reuters) - Consumer Reports on Monday urged four chocolate producers to commit by Valentine's Day to reduce the amounts of lead and cadmium in their dark chocolate products, after testing revealed harmful levels of the heavy metals. Last month, Consumer Reports said 23 of the 28 dark chocolate bars it tested included potentially harmful levels of lead, cadmium or both for people who eat more than one ounce of chocolate a day. Consumer Reports said many consumers eat dark chocolate for its potential health benefits and relatively low sugar levels, but "there's nothing healthy about ingesting heavy metals." Consumer Reports did not immediately respond to a request for additional information. Trader Joe's has been sued at least nine times by consumers over its dark chocolate since Consumer Reports released its study.

Trader Joe's is accused in a lawsuit of misleading and endangering shoppers by selling dark chocolate that contains harmful levels of lead and cadmium. Both suits follow a December study by Consumer Reports that tested popular dark chocolate bars for heavy metal content. Using California’s maximum allowable dose level (MADL) as a benchmark, the publication said just five popular dark chocolate bars contained acceptable levels of lead and/or cadmium, while nearly two dozen did not. Trader Joe's Dark Chocolate 72% Cacao was found to contain high levels of lead, and its The Dark Chocolate Lover's Chocolate 85% Cacao product was high in lead and cadmium, according to Consumer Reports' testing. The NCA also pointed to a 2018 settlement it reached with an advocacy group, As You Sow, that established concentration levels for both lead and cadmium that supersede the California maximum allowable dose levels.

☆ Trader Joe's is being sued after tests suggested some of its dark chocolate contains potentially unsafe levels of lead and cadmium
▼ + stars: | 2023-01-06 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Trader Joe's was hit by two lawsuits over alleged high levels of lead and cadmium in its chocolate. Consumer Reports found that two of its own-brand dark chocolate bars contain potentially unsafe quantities of heavy metals. The lawsuits relate to two of Trader Joe's own-brand products: its 72% cacao dark chocolate and its Dark Chocolate Lover's 85% cacao chocolate. For the Dark Chocolate Lover's 85% cacao chocolate, these levels were 127% for lead and 229% for cadmium. Because dark chocolate contains more cacao than milk chocolate, it generally has higher levels of lead and cadmium as a result.

☆ Hershey is being sued after tests showed its dark chocolate contained 'dangerous and harmful' lead and cadmium
▼ + stars: | 2022-12-30 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Hershey is being sued over claims that its dark chocolate contains high levels of lead and cadmium. Lazazzaro accused Hershey of "deceptive and misleading" marketing of its Special Dark Mildly Sweet Chocolate, Lily's Extra Dark Chocolate 70% Cocoa, and Lily's Extremely Dark Chocolate 85% Cocoa by not stating on the packaging that they contained lead and cadmium. Consumer advocacy nonprofit Consumer Reports sent 28 dark chocolate bars from brands including Hershey's, Lily's, Trader Joe's, and Lindt for testing. For Lily's Extra Dark Chocolate 70% Cocoa, one ounce contained 144% of the lead level and 42% of the cadmium level, while for Lily's Extremely Dark Chocolate 85% Cocoa this was 143% for lead and 101% for cadmium. There aren't any federal limits on how much lead and cadmium most foods can contain, Consumer Reports said.

[1/2] A Hershey's chocolate bar is shown in this photo illustration in Encinitas, California January 29, 2015. REUTERS/Mike Blake/File PhotoCompanies Hershey Co FollowNEW YORK, Dec 29 (Reuters) - Hershey Co (HSY.N) has been sued by a consumer who accused the company of selling dark chocolate that contains harmful levels of lead and cadmium. In a proposed class action filed on Wednesday, Christopher Lazazzaro said he would not have bought or would have paid less for Hershey's Special Dark Mildly Sweet Chocolate, Lily's Extra Dark Chocolate 70% Cocoa and Lily's Extreme Dark Chocolate 85% Cocoa had Hershey disclosed their metals content. Some studies suggest that the antioxidants and relatively low levels of sugar in dark chocolate could help prevent cardiovascular disease. Hershey's Special Dark bar and Lily's 70% bar were high in lead, and Lily's 85% bar was high in lead and cadmium, the magazine said.

☆ UBS upgrades Hershey, says candy giant is poised to outperform in the near- and long-term
▼ + stars: | 2022-12-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Hershey has had a strong 2022, and that momentum could be carried into the new year, according to UBS. He said the company will remain in a "beat and raise cycle" through 2025 – even as investors grow increasingly concerned about packaged food companies' abilities to increase earnings as headwinds linger. That would make it the highest earnings growth in UBS' coverage this year, according to Ross. By Ross' estimate, Hershey should deliver 9% organic sales growth in 2023 before coming down to a 4% increase in 2024 and 2025. Earnings per-share is expected to increase 14% in 2023, followed by 9% annual adds in the following two years.

☆ Why food commercials cost hundreds of thousands of dollars
▼ + stars: | 2022-12-07 | by ( Korey Isbell | Victoria Barranco | ) www.businessinsider.com time to read: +1 min

It takes dozens of people, expensive robots, and fancy cameras to bring a fast food commercial to life. These crews use real food on set, so they have to film fast before it wilts. We visit The Garage in New York to see how the crew films ads for clients like Hershey's, Pepsi, and Domino's. But they use real food on set, so they work against the clock to film each take before it starts to wilt. We visit The Garage in Brooklyn, New York, to see how the crew films advertisements for clients like Hershey's, Pepsi, and Domino's.

☆ Is Patagonia the end game for profits in a world of climate change?
▼ + stars: | 2022-11-20 | by ( Trevor Laurence Jockims | ) www.cnbc.com time to read: +5 min

As far back as 1985, Patagonia deployed portions of its profits to the environment, via an "Earth tax." "The Patagonia model is a little more sophisticated." It often is very attractive from a corporate tax perspective, too, which has been noted of both the Ikea and Patagonia business models. One hundred percent of Patagonia profits are now committed to its new non-profit Holdfast Collective — which owns all of the company's non-voting stock (98% of the total stock). "What people fail to understand about Patagonia, both the past and the future, is that we are unapologetically a for-profit business, and we are extremely competitive," Ryan Gellert said.

☆ Candy maker Hershey raises sales outlook ahead of holiday season
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +2 min

Nov 4 (Reuters) - Hershey Co raised its full-year net sales and profit forecasts on Friday, signaling strong Halloween candy demand that it expects to continue into the holiday season despite higher selling prices. Hershey said its overall average selling prices increased by 7.7% in the third quarter while volumes rose 4.1%. The Reese's Peanut Butter Cup maker's revenue rose 15.6% to $2.73 billion in the quarter ended Oct. 2. The company said it now expects full-year 2022 net sales to grow between 14% and 15%, compared to the previous forecast of 12% to 14% growth. It forecast a 14% to 15% rise in its 2022 adjusted profit per share, above the prior forecast of a 12% to 14% increase.

☆ Stocks making the biggest moves premarket: DraftKings, Cinemark, Hershey and more
▼ + stars: | 2022-11-04 | by ( Peter Schacknow | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines before the bell:DraftKings (DKNG) – DraftKings fell 12.5% in premarket trading despite reporting a smaller-than-expected quarterly loss and revenue that topped Wall Street forecasts. Hershey (HSY) – Hershey rose 1% in the premarket after quarterly results beat estimates and the candy and chocolate maker raised its sales and profit outlook. PayPal (PYPL) – PayPal shares slid 6.9% in the premarket despite better-than-expected quarterly profit and revenue for the payment service operator. Block (SQ) – Block shares surged 14% in premarket action after it reported quarterly revenue and profit that beat Wall Street forecasts. Carvana (CVNA) – Carvana slid 7.4% in premarket trading after the used-car retailer reported worse-than-expected quarterly results.

☆ Rising inflation forces Halloween candy prices to climb more than 13%, with the highest price increases impacting Skittles and Starbursts
▼ + stars: | 2022-10-31 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

As Americans prepare for Halloween festivities, candy prices have shot up. Candy prices rose more than 13% in September compared with a year ago, per the Bureau of Labor Statistics. Skittles shot up by 42% in price since last year, while Starbursts rose by 35%, Datasembly told The WSJ. According to the Labor Department, candy prices went up more than 13% in September compared with a year ago. Consumers plan to spend $100 on average for Halloween candy, cards, costumes, and decorations, the National Retail Foundation reported in its 2022 survey.

Sandy, a 63-year-old retired mother of two, exposed her sons to money at a young age. She had a similar approach when it came to teaching her kids about money, encouraging them to be self-reliant and exposing them to real-world situations. Here are five of the most important money lessons Sandy taught her boys from an early age. How to spend mindfullySandy gave each of her kids a $200 monthly allowance starting around age 10 or 11. "You can choose what you want to do, but then you don't have money leftover to do those other things.

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☆ Inside the fight between my small Iowa hometown and a $12 billion utility over smart meters and the radiation that some residents call 'poison'
▼ + stars: | 2020-05-31 | by ( Benji Jones | ) www.businessinsider.com time to read: +19 min

They've rubbed up against an adversary of enormous scale: A $12 billion utility that began deploying smart meters in 2017 that communicate using radio waves. AdvertisementFor the power company, smart meters are the future, offering big savings and granular info about energy use. For one, smart meters save utilities a ton of cash, since they get rid of the need for manual readings. "I would have never put an investment in if I had known that it would require smart meters and what smart meters do." Monsanto isn't selling smart meters, but there is a big company on the other end that stands to gain.

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