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Nestle and P&G both raised prices by less than 9.5% in the same period, having roughly matched one another since mid-2021. Unilever said price rises vary by category and market and not all consumers were experiencing the 12.5% hikes. Unilever has high exposure to regions and countries with high inflation including Latin America, Turkey and Russia, while P&G is more U.S.-focused, Bernstein analyst Bruno Monteyne said. "These countries have high inflation, linked to weak foreign exchange. "We are still absorbing significant cost, which has led to a notable decline in our gross profit margin," a Nestle spokesperson said.

☆ Berkshire Hathaway could boost earnings after Occidental accounting change
▼ + stars: | 2022-11-05 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Nov 5 (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) could soon see a boost to its bottom line after changing its accounting for its big stake in Occidental Petroleum Corp (OXY.N). In its quarterly report on Saturday, Berkshire said it adopted the equity method of accounting for its 20.9% stake in Occidental, which is worth more than $14 billion. Accounting rules normally require the equity method when one company's stake in another reaches 20%, reflecting an assumption that the first company might exert significant influence. Kraft Heinz is controlled by Berkshire and Brazil's 3G Capital, and its board includes three directors from Berkshire. Some investors and analysts have said Berkshire could eventually buy Occidental, diversifying its energy portfolio.

☆ 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.

Microsoft Corp (MSFT.O) posted its lowest sales growth in five years and forecast second-quarter revenue below Wall Street estimates, while Alphabet (GOOGL.O) reported downbeat ad sales and warned of a slowdown in advertising spending. Shares of ad revenue dependent social media firms Meta Platforms (META.O) fell 4.4%, while Pinterest (PINS.N) dropped 3.9%. ET, Dow e-minis were down 70 points, or 0.22%, S&P 500 e-minis were down 31.75 points, or 0.82%, and Nasdaq 100 e-minis were down 213.5 points, or 1.82%. Kraft Heinz Co (KHC.O) gained 2.5% after the packaged food maker beat third-quarter sales estimates, helped by higher product prices. Reporting by Amruta Khandekar and Shreyashi Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Kraft Heinz beats quarterly sales estimates on higher prices
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

Oct 26 (Reuters) - Kraft Heinz Co (KHC.O) beat third-quarter sales estimates on Wednesday, as higher product prices offset pressure from reduced demand for its packaged meals and condiments. Global packaged foods makers have been steadily raising product prices over the past year to counter increased costs tied to labor, ingredients and transportation at a time when consumers are steeling their wallets against skyrocketing energy and food prices. The Heinz ketchup maker's net sales rose to $6.51 billion in the third quarter from $6.32 billion a year earlier. Analysts on average had expected $6.27 billion, according to IBES data from Refinitiv. Reporting by Mehr Bedi and Granth Vanaik in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Kraft Heinz Sales Tick Higher as Prices Rise
▼ + stars: | 2022-10-26 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

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☆ Kraft Heinz beats quarterly estimates as prices soar
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

Oct 26 (Reuters) - Kraft Heinz Co (KHC.O) beat third-quarter sales and profit estimates on Wednesday, benefiting from price increases in the face of rising costs for its packaged foods and condiments. Shares of the Jell-O and Philadelphia Cream Cheese maker rose 3.5% in premarket trading as the company also reaffirmed its full-year sales and profit guidance. Kraft said average selling prices rose 15.4 percentage points in the quarter, which partly dented sales volumes that fell 3.8 percentage points. The company's net sales rose to $6.51 billion in the third quarter from $6.32 billion a year earlier. Reporting by Mehr Bedi and Granth Vanaik in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks making the biggest moves premarket: Boeing, Hilton, Harley-Davidson and others
▼ + stars: | 2022-10-26 | by ( Peter Schacknow | ) www.cnbc.com time to read: +3 min

Hilton Worldwide (HLT) – Hilton added 2% in the premarket after reporting better-than-expected quarterly earnings and raising its full-year forecast. Waste Management (WM) – Waste Management shares jumped 3% in premarket action after reporting better-than-expected quarterly earnings. Alphabet (GOOGL) – Alphabet slumped 6% in the premarket after it reported lower-than-expected quarterly profit and revenue. Mattel (MAT) – Mattel slid 5.5% in premarket trading after the toy maker cut its full-year profit forecast. Mattel reported a better-than-expected profit for its latest quarter, with revenue falling slightly shy of analyst forecasts.

☆ 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.

☆ 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.

Along with other consumer goods companies, Unilever has faced a surge in labor, freight and ingredients costs. Billionaire Peltz in recent weeks met two possible contenders to replace Jope, one of the sources said. FLORIDA TALKSEven before Jope announced his departure, Peltz met with a former consumer goods CEO in Florida, one of the sources said. In the last month, Peltz and his team also approached another former consumer packaged goods CEO about the Unilever job, the source said. Peltz supports Unilever's sustainability strategy, including a plan to decarbonize the company's business units, Unilever has said.

☆ Kraft Heinz CEO: Inflation and supply shortages are here to stay for a while
▼ + stars: | 2022-10-24 | by ( Christine Romans | ) edition.cnn.com time to read: +3 min

New York CNN Business —Kraft Heinz CEO Miguel Patricio says higher inflation and supply issues are coursing through the food industry, forcing companies to adopt new strategies for everything from production to promotion to packaging. For its second quarter ended June 25, Kraft Heinz raised its prices overall by 12.4 percentage points compared to the year-earlier period. Beyond the double-barrel challenges of shortages of raw materials and inflation, issues like the continuing pandemic, the war in Ukraine and climate change are adding to the uncertainty. Kraft Heinz has also leaned into different packaging and pricing options for consumers, including bulk value packs of Kraft Macaroni and Cheese and wider variety of bottle sizes for products like Heinz ketchup for shoppers who want smaller, lower-priced choices. And this is what we’re trying to do.”Those supply issues are broader than the Covid era, however.

☆ The economy may be in better shape than you think...for now
▼ + stars: | 2022-10-23 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +7 min

The consensus forecast from economists surveyed by Reuters is that GDP grew at an annualized pace of 2.1% in the third quarter. (This will be the first estimate for third-quarter GDP, and there will be several revisions in the coming weeks.) That also means the Fed will likely continue to sharply raise interest rates to finally choke off inflation once and for all. Those rate hikes helped cause a so-called double-dip recession, where the economy suffered two downturns between 1980 and 1982. In other words, the much-hoped-for “soft landing” for the economy could turn out to be a pipe dream.

☆ Earnings are off to a surprisingly decent start. Next week is the big test for tech
▼ + stars: | 2022-10-21 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

Stocks rallied this week as earnings season ramped up and is so far off to a better-than-expected start. With 20% of the S & P 500 having reported financials so far, sales results have thus far been 1.4% above expectations while earnings results are 5.4% above expectations, in aggregate. That inverse correlation between bond yields and stocks was powerful enough to trump positive earnings reports. Looking back On the earnings front, we got results from Johnson & Johnson (JNJ), Procter & Gamble (PG), and Danaher (DHR). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Stocks making the biggest moves in the premarket: Ford, General Motors, Rivian and more
▼ + stars: | 2022-10-10 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Take a look at some of the biggest movers in the premarket:Ford (F), General Motors (GM) – UBS downgraded both automakers, cutting Ford to "sell" from "neutral" and downgrading GM to "neutral" from "buy." Ford slid 3.6% in the premarket while GM fell 3.5%. Rivian (RIVN) – Rivian shares tumbled 9% in the premarket after it recalled nearly all its vehicles to fix potential steering issues. Kraft Heinz (KHC) – Kraft Heinz rose 2% in premarket action after Goldman Sachs upgraded the food maker's stock to "buy" from "neutral." Merck (MRK) – Merck rose 2.7% in the premarket after Guggenheim upgraded the stock to "buy" from "neutral."

That has added pressure to grocery prices, putting a squeeze on wallets with no end in sight. California's drought conditions, on top of Hurricane Ian ravaging citrus and tomato crops in Florida, are likely to push food costs even higher. Cameron also grows processing tomatoes, onions, garlic and more than a dozen other crops near Fresno, California. The most recent drought in California began in 2020, worsening when California's Central Valley faced its driest January and February in recorded history. Cameron said tomato prices face a similar hike, resulting in a 50% increase in cost to canners and processors from 2021 to 2023.

☆ Twitter’s future isn’t just Elon Musk’s problem
▼ + stars: | 2022-10-06 | by ( John Foley | ) www.reuters.com time to read: +6 min

Buying Twitter is financially onerous, too, but compared with buying a bank, it’s pretty simple stuff. Social media companies, conversely, are a place where people tweet poop emojis and exchange cat GIFs. Congress isn’t blind to the legal vacuum in which large social media companies operate. But while politicians squabble, social media continues to shape society in ways that may only become apparent years later. In a tweet later that day, the Tesla chief said that buying Twitter would accelerate the creation of X, an "everything app."

☆ Here are Thursday's biggest analyst calls: Apple, Exxon, Coinbase, Alphabet, Amazon, Marvell & more
▼ + stars: | 2022-09-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Wells Fargo initiates Coinbase as underweight Wells said in its initiation of the crypto company that it sees too many headwinds for shares of Coinbase. Cowen initiates CyberArk as outperform Cowen said it sees "growth and profitability" for the company. Stifel reiterates Marvell as buy Stifel said Marvell is one of the resilient stocks in the firm's coverage. Rosenblatt upgrades Apple to buy from neutral Rosenblatt said that its survey checks show consumers love the latest iPhone products. "We upgrade Apple to Buy from Neutral, and move our price target up $29 to $189.

☆ General Mills raises full-year forecast on higher prices
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterPackages of Cheerios, a brand owned by General Mills, are seen in a store in Manhattan, New York, U.S., November 12, 2021. REUTERS/Andrew KellySept 21 (Reuters) - Cheerios cereal maker General Mills Inc (GIS.N) raised its full-year forecast after beating quarterly profit estimates on Wednesday, banking on higher prices and resilient demand for its breakfast cereals, snack bars and pet food. The company now expects organic net sales to rise between 6% and 7% in fiscal 2023. Net earnings attributable to General Mills rose to $820 million, or $1.35 per share, in the three months ended August 28, from $627 million, or $1.02 per share, a year earlier. It also reported net sales of $4.72 billion in the first quarter, in line with analyst expectations, according to Refinitiv data.

Homebuyers can receive mortgages, down-payment assistance, and tax credits through the Kentucky Housing Corporation. Most first-time homebuyer programs are through the Kentucky Housing Corporation (KHC), although there are a few additional options. KHC Conventional Preferred Plus 80The KHC Conventional Preferred Plus 80 Program is similar to the regular Conventional Preferred Program, with two key differences. Kentucky down payment assistance programsKHC Regular Down Payment Assistance ProgramThe Regular DPA Program can be combined with either of the aforementioned KHC mortgages. Other Kentucky first-time homebuyer programsKHC Home Buyer Tax CreditThe Mortgage Credit Certificate (MCC) helps first-time homeowners save money on taxes.

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