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☆ Boycotts hit stocks hard. Here's what might be next for Bud, Target and others caught in the anti-Pride backlash
▼ + stars: | 2023-06-03 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Stock Chart Icon Stock chart icon Anheuser-Busch InBev shares hit a 52-week high of $67.09 on March 31. Bud Light has tried to win back customers with a $15 off rebate program on Budweiser, Bud Light, Bud Select and Bud Select 55. Stock Chart Icon Stock chart icon Target's stock hit a 52-week low on Thursday. Stock Chart Icon Stock chart icon VF Corp. shares traded as low as $16.77 on Thursday. Stock Chart Icon Stock chart icon Kohl's shares on Thursday hit a low of $17.89, the stock's lowest level since May 22, 2020, when it traded as low as $17.19.

Persons: BUD TGT, Justin Sullivan, Bud Light, Dylan Mulvaney, Pattie Gonia ., it's, Brayden King, Cowen, Vivien Azer, Miller, Azer, Bud, Brandon Bell, King, Sarah Kate Ellis, recouping, Christopher Horvers, Horvers, Wells, Edward Kelly, Kelly, Americus Reed Organizations: TAP, Anheuser, Busch, Target, VF Corp, North, Pride, Busch InBev, Coors, Molson Coors, Lite, Bud, Budweiser, Walmart, Bud Light, Companies, GLAAD, JPMorgan, Americus, University of Pennsylvania Locations: San Francisco , California, Austin , Texas, Wells Fargo

☆ Cheddar News laid off a team of respected reporters who once created content for its popular YouTube channel
▼ + stars: | 2023-05-30 | by ( Reed Alexander | ) www.businessinsider.com time to read: +6 min

Embattled network Cheddar News cut six roles in a small layoff round in April, Insider has learned. Affected employees previously worked on Cheddar's highly-regarded YouTube team. Cheddar News quietly laid off half a dozen staffers who formerly worked on its highly-regarded YouTube team creating original video content, Insider has learned. As Insider reported earlier this year, sources at Cheddar said management had indicated cost-cutting and profitability concerns were behind the shift in strategy away from creating original YouTube content, which Cheddar had done for years. Do you work for Cheddar News or Altice USA, or are you a media insider with insight to share?

Persons: Cheddar, Anna Delvey, Kristin Malaspina, Altice, Malaspina, Claire Atkinson, Reed Alexander Organizations: Cheddar, YouTube, News12, Altice, Cheddar News, Altice USA, New, BuzzFeed Locations: New York, News12 New York, Altice USA, Russian, Cheddar

☆ ASCO conference will put the focus on the fight against cancer. These stocks are in the spotlight
▼ + stars: | 2023-05-28 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Developments in cancer research will be in the spotlight as the American Society of Clinical Oncology hosts the world's biggest cancer research conference in Chicago, starting Thursday. The pair has already has won regulatory approval for Enhertu for metastatic HER2-low breast cancer, but the companies are also studying its use in a variety other HER2 tumors in breast cancers. Lilly's drug, Verzenio, is used in high-risk patients with HR-positive HER2-negative breast cancer that is more likely to reoccur and has already breached the patient's lymph nodes. In a research note earlier this month, Guggenheim analyst Seamus Fernandez said Kisqali is already taking market share from Pfizer's Ibrance in metastatic breast cancer. Merck's Keytruda is also being watched for what benefits it could offer early-stage lung cancer patients .

☆ Cheddar News quietly laid off a handful of video producers as its newsroom reels from continued defections and organizational changes
▼ + stars: | 2023-05-26 | by ( Reed Alexander | ) www.businessinsider.com time to read: +6 min

Embattled network Cheddar News cut six roles in a small layoff round in April, Insider has learned. Affected employees previously worked on Cheddar's highly-regarded YouTube video team. Cheddar News quietly laid off half a dozen staffers who formerly worked on its highly-regarded YouTube team creating original video content, Insider has learned. Altice, which bought Cheddar in 2019, set out to implement a series of content changes at the 7-year-old news outlet in mid-2022. Do you work for Cheddar News or Altice USA, or are you a media insider with insight to share?

☆ Here's why Trader Joe's will never embrace online shopping: 'The experience would not be the same'
▼ + stars: | 2023-05-16 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

Don't expect to be able to order a block of Trader Joe's Unexpected Cheddar or a bag of Chili & Lime rolled corn chips to your door any time soon. The latest episode of the popular supermarket's in-house podcast, "Inside Trader Joe's," explains why the chain doesn't offer online shopping like competitors Aldi, Publix and Kroger, and is instead happy to keep running its business the way it has since it was founded in 1967. Building out a robust delivery operation would involve creating a network of warehouses to store products, as well as a delivery system to get those products to customers' doors. For a brand that closely watches its bottom line to keep prices low, it's a non-starter. "We love being a real place for a whole bunch of reasons and not just because it's where we started," co-host Matt Sloan said.

☆ Oppenheimer says investors are missing opportunities in three biotech areas and the related stocks
▼ + stars: | 2023-05-16 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +4 min

As biopharma investors follow the latest buzz around advancements in clinical research, they may be under-appreciating opportunities in neurology, psychiatry and genetic medicine, according to a report from Oppenheimer. "Valuation multiples across disease areas show CNS [ or central nervous system] and Genetic Medicine at relative low points." In July, the Food and Drug Administration could grant full approval to Leqembi , its Alzheimer's Disease treatment. As a very new area of medicine, gene therapy has greatest potential to accelerate sales growth as treatments come to market. He described immunology multiples as "generally stable" and genetic medicine multiples as highly volatile.

☆ Investors would be wise to heed these lessons from the 'retail apocalypse' as office values reset
▼ + stars: | 2023-05-14 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +7 min

Still, it is also true that a lot of disruption occurred in between the events that prompted the "apocalypse" chatter and the firmer ground where retail real estate stands today. Recalling how these events played out is helpful in understanding the situation facing U.S. office properties. For office buildings, the pandemic knocked things out of whack. The same idea is being discussed for office buildings, but one-size will not fit all. There may be no surprise that there has been a huge drop-off in the number of loans with office properties as collateral since March.

☆ The CEO of this edtech company says A.I. can help unlock growth in the space. Here’s how
▼ + stars: | 2023-05-09 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +4 min

PWSC YTD mountain PowerSchool shares have fallen sharply since January, when they traded as high as $26.05. "For us, it's not a disruption from a negative perspective, it's actually phenomenal," he said, of the advancements in generative AI. Gulati expects generative AI will make it possible for PowerSchool to accelerate its goals to offer personalized learning plans. Still, PowerSchool shares are down 27% since the start of the year. Generative AI systems must be "trained" on data.

☆ Follow Warren Buffett's comments and all the action at Berkshire Hathaway's annual meeting: Live updates
▼ + stars: | 2023-05-06 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +1 min

Watch the 2023 Berkshire Hathaway annual shareholders meeting via CNBC's livestream in English or Mandarin or read about it here throughout the day. The CHI Health Center in Omaha, Nebraska, is welcoming tens of thousands for Berkshire Hathaway 's annual meeting on Saturday. The main event begins on Saturday when Chairman and CEO Warren Buffett and Vice Chairman Charlie Munger take the stage at 10:15 a.m. If previous gatherings are any guide, there will be a lively conversation about a wide range of topics. To prepare viewers for the main event, CNBC will begin its coverage at 9:45 a.m.

☆ Americans haven't been this worried about their bank deposits since the 2008 financial crisis
▼ + stars: | 2023-05-04 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +1 min

Recent events may be chipping away at confidence in the U.S. financial system, according to the findings of a Gallup survey. Nearly half of the 1,013 adults polled said they were "very worried" (19%) or "moderately worried" (29%) about the safety of the money they had tucked away in a bank or other financial institution, Gallup said. The level of concern expressed in the poll is similar to the findings that Gallup found shortly after the collapse of Lehman Brothers in September, 2008. Still, a December 2008 reading had shown sentiment had already improved from those worst levels as steps were taken to ease the impact of the financial crisis. When the poll was conducted from April 3-25 this year, Signature Bank and Silicon Valley Bank had already failed.

☆ Olive Garden owner Darden Restaurants buys Ruth's Chris Steak House for $715 million
▼ + stars: | 2023-05-03 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Darden Restaurants said Wednesday it is buying Ruth's Hospitality Group , the parent company of Ruth's Chris Steak House, for $715 million. Ruth's CEO Cheryl Henry will stay on as president of Ruth's Chris and report to Cardenas. Ruth's Chris was founded in 1965 after Ruth Fertel bought Chris Steak House in New Orleans. The terms of the sale kept her from reusing the name at other locations, so she chose to name new locations Ruth's Chris Steak House. As of Tuesday's close, Darden's stock had risen nearly 10% this year, giving it a market value of $18.4 billion.

☆ Quiche is the official coronation food. Prices are up 21% in a year
▼ + stars: | 2023-05-03 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

Still, quiche from a store is just one of a number of items that are outpacing the painful rise in British food prices, according to the ONS analysis. Average annual food price inflation was more than 19% that month. Food price crisisUK taxpayers will pay tens of millions of pounds towards the cost of the King’s coronation, according to estimates published by British media. But, for many Britons, including fans of the royals, the expense feels particularly galling while millions of people struggle to make ends meet as prices rise. Food price rises show no signs of pulling back.

☆ Barclays downgrades a string of retail stocks as its hopes for a V-shaped recovery fade
▼ + stars: | 2023-05-02 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +3 min

Consumers across all income levels are pulling back on spending, according to a Barclays Capital promotions tracker, prompting analyst Adrienne Yih to downgrade a host of retail stocks. However, Yih said, the pace of sales and discounting suggests that this scenario — a V-shaped recovery — is now less likely. FIGS 6M mountain Barclays downgraded Figs shares to underweight from equal weight. Figs shares shed 6%, Canada Goose fell more than 5% and Victoria's Secret was down more than 3%. CPRI YTD mountain Capri shares have fall 31% since the year started.

☆ Obesity is a chronic disease. It's why treating it will be so profitable unless payers push back
▼ + stars: | 2023-04-30 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Lilly manufactures tirzepatide, which is sold under the brand name Mounjaro as a type 2 diabetes treatment. It's the chronic nature of obesity that will make these drugs so profitable, analysts have said. Huynh increased his target due to higher expectations for Mounjaro sales this year. Huynh boosted his prediction for the drug's sales this year to $3.7 billion from an prior estimate of $2.7 billion. "$48 billion is a monster number," Holz said, referring to an annual sales estimate that Bank of America has floated for future Mounjaro sales.

☆ Man gets prison time after feds discover $3.4 billion in stolen Bitcoin hidden inside a Cheetos popcorn tin and underground safe
▼ + stars: | 2023-04-14 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +2 min

A man convicted of stealing around 50,000 Bitcoin was sentenced Friday to a year in prison. At the it was seized, the Bitcoin was worth over $3.4 billion. Prosecutors said the crypto-currency was stolen from the Silk Road dark web marketplace. There investigators recovered more than 50,000 Bitcoin, split between "an underground floor safe and on a single-board computer that was submerged under blankets in a popcorn tin stored in a bathroom closet." A photo shared by the department shows that the crypto tin originally contained Cheetos-brand popcorn in both Flamin' Hot and Cheddar flavors.

☆ The fallout from empty offices is coming. Here's where investors could see the pain
▼ + stars: | 2023-04-14 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +12 min

As concerns about regional banks roiled markets, investors weighed another threat: commercial real estate. Also, layered on top of the property value pressure, are the tightening credit conditions brought on by the recent turmoil in the banking sector. There is no doubt this scenario is a toxic mix for the capital-intensive real estate industry. At the moment, many experts say the real estate market isn't causing trouble for banks, but fears about the financial system are likely worsening conditions in real estate because liquidity is being reduced. The biggest concern is seeing how many other companies join Brookfield , Blackstone and Pimco in handing back the keys on office properties, Clancy said.

☆ Teens drive $67 billion in spending. Here's where they're putting their money, and why it's bad news for some stocks
▼ + stars: | 2023-04-07 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +4 min

The wide-ranging survey saw teenagers reporting their spending this year will rise 2% from the spring of 2022 to $2,419. Gen Z girls are planning to pull back on clothing spending, which could spell trouble for apparel stocks in the months ahead. It's the top choice of places to shop for about 9% of the upper-income teens in the survey, Piper said. According to the survey, 49% of upper-income teens have purchased clothes on secondhand marketplaces like Poshmark, The RealReal and ThredUp , or at local thrift stores. Nike remains entrenched as the top apparel brand among all teens, a position it's held for more than 12 years.

☆ Viral fast-food hacks, like the Chipotle 'fajita quesadilla,' prove American appetites haven't caught up to the climate crisis
▼ + stars: | 2023-04-03 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +12 min

The TikTok creator, known for reviewing fast-food staples, posted last summer about leveling up Chipotle's steak quesadilla with fajita veggies. Nathan Llorin, another popular TikToker, told Insider that it wasn't until he started eating and reviewing fast food that his videos took off. A climate message for menusIn January, research showed that labeling fast-food menus with their climate impacts swayed people away from red meat. But about 10% of customers now choose a meatless option, including Sofritas, the chain's plant-based mainstay made from tofu. Frost, the TikToker, told Insider that of all the things viewers attack her for on the platform, the environmental impact of fast food isn't among them.

☆ Wendy’s is selling a former McDonald’s fan-favorite item
▼ + stars: | 2023-03-23 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Fans who are missing McDonald’s “Snack Wraps” can soon get their fix at a rival. Beginning Tuesday, in a move that could attract customers clamoring for the return of the fan-favorite food, Wendy’s is adding a new grilled chicken ranch wrap to its menu. Wendy’s wrap is slightly different from McDonald’s version, because the chain “didn’t want to mess around with a McBland snack wrap dupe,” said Carl Loredo, Wendy’s global chief marketing officer. He told CNN that grilled chicken is used in place of crispy chicken that was in McDonald’s wrap, because he said Wendy’s fans are looking for “lighter and more portable menu items.”Wendy's is selling a McDonald's Snack Wrap of their own. So, selling a beloved menu item could prove to be an advantage for Wendy’s against its much larger competitor.

☆ Dunkin' rolls out breakfast tacos as competition heats up for fast food morning grub
▼ + stars: | 2023-03-22 | by ( Nancy Luna | ) www.businessinsider.com time to read: +2 min

Dunkin' added breakfast tacos to its menu on March 22. The move comes as McDonald's expanded its test of serving Krispy Kreme doughnuts in Kentucky. Today, Dunkin' launched breakfast tacos for under $3 each. At a December investor day conference, Taco Bell CEO Mark King announced plans to compete with McDonald's at breakfast and lunch. Wendy's, which introduced a new breakfast menu three years ago, told Nation's Restaurant News this month that breakfast sales have surpassed sales targets of $3,000 per week per restaurant.

☆ Private equity firms Apollo and KKR among those reviewing Silicon Valley Bank loans
▼ + stars: | 2023-03-14 | by ( Seema Mody | ) www.cnbc.com time to read: +1 min

People wait outside the Silicon Valley Bank headquarters in Santa Clara, CA, to withdraw funds after the federal government intervened upon the bank's collapse, on March 13, 2023. Two of those people said Apollo may be interested in acquiring a piece of the business at par. Private equity firms Apollo Global Management and KKR are among the parties reviewing a book of loans held by Silicon Valley Bank, people familiar with the discussions told CNBC. Previously, Bloomberg reported that several private equity firms have been conducting due diligence on the loan assets. That report, which cited several people with knowledge of the talks, said Apollo, Ares Management , Blackstone , Carlyle Group and KKR were among those reviewing a potential deal.

☆ Lunchables are going to be rolled out directly to students. Here’s what’s in them
▼ + stars: | 2023-03-13 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +7 min

New CNN —Kraft Heinz has succeeded in getting its ready-to-eat packaged Lunchables into school lunch programs starting this fall, in a major new initiative. The USDA referred CNNBusiness to Kraft Heinz for further details about the cost and nutritional content of its Lunchables for schools. Kraft Heinz declined to provide additional details about the cost and other nutritional content, including sodium and saturated fat content. School food nutrition guidelines getting stricterKraft-Heinz says that Lunchables will minimize school "labor needs and costs" in its promotional materials. “As school nutrition guidelines get increasingly complex, we’ve seen companies leaving the K-12 segment, said Pratt-Heavner.

☆ Campbell Soup lifts sales outlook as Americans keep snacking
▼ + stars: | 2023-03-08 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Though stretched thin amid increasing prices, Americans are still snacking on Campbell's cookies and salty snacks while a continued preference for cooking at home has further bolstered demand. While U.S. soup sales rose 7% in the second quarter, Campbell is facing growing competition from cheaper private-label counterparts for soups and broth. New Jersey-based Campbell expects fiscal 2023 net sales to rise between 8.5% and 10%, up from its previous forecast of 7% to 9%. It also projected annual adjusted earnings of $2.95 to $3.00 per share, compared with a prior target of $2.90 to $3.00. Reporting by Deborah Sophia in Bengaluru; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

☆ Cheddar News has seen so many exits that managers have asked staffers to delay scheduled vacations, while promising that reinforcements are on the way
▼ + stars: | 2023-03-08 | by ( Reed Alexander | ) www.businessinsider.com time to read: +7 min

Cheddar News has lost more than 10 newsroom staffers since the start of 2023, sources told Insider. As of March, Cheddar appears to have plans to hire at least five news-related roles, according to Altice's jobs portal. a former Cheddar producer said. The two executives are said to have denied speculation that Altice has any plans to combine Cheddar and News 12. Sources previously told Insider that, throughout 2022, the Cheddar newsroom had contracted by roughly a third.

☆ Under threat, Weight Watchers enters obesity drug space. Here's what it means for the stock
▼ + stars: | 2023-03-07 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +7 min

The company's sales have been in a steady multiyear decline after an attempt to de-emphasize weight loss and focus on wellness failed miserably. WW 1Y mountain The parent of Weight Watchers has seen its market value shrink as sales have dropped for several years. Another drug, Eli Lilly's Mounjaro, adds a second incretin hormone to the mix and has been shown to be even more successful with weight loss. This trend could provide an opportunity for the core Weight Watchers brand and its focus on behavior modification. That scenario assumes Weight Watchers continues to see membership erosion, while cost controls help minimize margin compression.

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