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Alibaba — Shares lost 1% after outgoing CEO Daniel Zhang unexpectedly quit its cloud business. In June, the company had said Zhang was leaving as chairman and CEO of Alibaba Group to focus on the cloud intelligence unit. Qualcomm — The semiconductor stock jumped 7.4% premarket after saying Monday it will supply Apple with 5G modems for smartphones through 2026. The Wall Street firm said the slide in the Band-Aid maker has created an attractive entry point. The Wall Street firm called software and services revenue the "biggest value driver" for Tesla.
Persons: Alibaba —, Daniel Zhang, Zhang, Tesla, Morgan Stanley, , Smucker, Alex Harring, Hakyung Kim, Michelle Fox Theobald, Samantha Subin, Sarah Min, Kif Leswing Organizations: Tenable Holdings, JPMorgan, Alibaba Group, Qualcomm, Apple, Deutsche Bank, Oracle, Hostess Brands, Meta, Wall Street
Hostess, the maker of snack classics like Twinkies and HoHos, is being sold to J.M. Hostess Brands Inc. shareholders will receive $30 in cash and 0.03002 shares of The J.M. Smucker Co. stock for each share of stock that they own. The rest, including Twinkies and other Hostess cakes, was acquired by Metropoulos & Co. and Apollo, for $410 million. Smucker Co. and Hostess have both approved the deal, which is expected to close in Smucker's fiscal third quarter.
Persons: Andy Callahan, Twinkies, Hostess, XX, Wonder, Leon Black, Carl’s, Chef Boyardee, Bee, Morgan Stanley's Pam Kaufman Organizations: Hostess Brands Inc, Associated Press, Flowers Foods, McKee Foods, Metropoulos, Apollo Global Management, Pabst Brewing Co, Hostess Locations: Smucker, America, , Kansas
[1/2] Hostess Brands "Twinkies" are displayed in a store in the Manhattan borough of New York City, U.S. July 5, 2016. Smucker (SJM.N) on Monday agreed to buy Twinkies maker Hostess Brands (TWNK.O) for $5.6 billion including debt in a deal that unites two major American snack makers. The deal was worth about $4.6 billion excluding debt, with Jif peanut butter maker Smucker paying Hostess shareholders $34.25 per share. Campbell Soup's (CPB.N) recent acquisition of Rao's sauce maker Sovos Brands (SOVO.O) represented an adjusted EBITDA multiple of 14.6 times, including run rate savings, and 19.8 times excluding those. Based in Lenexa, Kansas, Hostess was founded in 1930 and is behind several iconic household brands, including Ho-Hos, Ding Dongs, Zingers, and Voortman cookies and wafers.
Persons: Brendan McDermid, Smucker, Campbell Soup's, Smucker's, Campbell, Hostess, Ding Dongs, Dean Metropoulos, Alec Gores, Ananya Mariam Rajesh, Anirban Sen, Abigail Summerville, Dimpal, Savio D'Souza, Shinjini Ganguli, Jason Neely Organizations: REUTERS, Hostess Brands, Reuters, Sovos, JPMorgan, Sovos Brands, Hos, Smucker, Apollo Global Management Inc, Hostess, Thomson Locations: Manhattan, New York City, U.S, North America, Lenexa , Kansas, Ho, Bengaluru, New York
In recent weeks, U.S. consumers have seen high-profile food recalls for an unappetizing reason: They're contaminated with foreign objects that have no place on a dinner plate. “Extraneous materials” triggered nine recalls in 2022 of more than 477,000 pounds of food regulated by the U.S. Department of Agriculture’s Food Safety and Inspection Service — triple the number of recalls tied to food contaminated with toxic E. coli bacteria. Trader Joe’s wouldn’t elaborate on how material got into the foods that led to its recent recalls. In recent years, firms have become increasingly cautious and are recalling products more frequently than before, said Nathan Mirdamadi, a consultant with Commercial Food Sanitation, which advises the industry about food safety. Consumers who find foreign materials in food should notify manufacturers, experts said, but also realize that recalls are likely to stick around.
Persons: Tyson, Keith Belk, “ they’re, ” Belk, Nathan Mirdamadi, “ It’s, Mirdamadi, there’s, Dee, Ann Durbin Organizations: U.S . Food, U.S . Department of Agriculture’s, USDA, FDA, Regulators, ConAgra Brands Inc, Center for Meat Safety, Colorado State University ., Centers for Disease Control, Food Sanitation, Consumers, AP, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group Locations: U.S
A Turkish court sentenced Faruk Fatih Ozer, the founder of failed crypto exchange Thodex, to 11,196 years in prison. He was sentenced to 11,196 years in prison, according to a Bloomberg report. Ozer had founded his company in 2017 and it became one of Turkey's largest crypto exchanges. "I am smart enough to lead any institution on Earth," Ozer said in court, the state-run Anadolu Agency reported him as saying. Bankman-Fried's crypto exchange imploded in November 2022, sparking a chain reaction of bankruptcies and blow-ups that led many in the sector to name it crypto's "Lehman moment."
Persons: Faruk Fatih Ozer, Ozer, Sam Bankman, Lehman, Fried Organizations: Bloomberg, Service, Anadolu Agency, Prosecutors, Alameda Research Locations: Wall, Silicon, Albania, Turkey
There are reasons to be bullish on McDonald's in the second half of this year, Wells Fargo said. Fadem said the company's "innovation engine is firing on all cylinders," while international markets are performing better than expected. McDonald's shares have sold off more than the broader market since its second-quarter earnings report in late July. And accelerated unit growth is just one way McDonald's can growth its earnings per share in the 2024 fiscal year, Fadem said. The stock has underperformed the broader market this year, up about 4.5% year to date.
Persons: Wells Fargo, Zachary Fadem, Fadem, — CNBC's Michael Bloom Organizations: comparables Locations: McDonald's
A diet of bread, water and peanut butter. A laptop with no internet connection. Sam Bankman-Fried, the 31-year-old cryptocurrency mogul, has spent nearly a month at the Metropolitan Detention Center in Brooklyn since a federal judge revoked his bail in August. They have also said he has not been getting enough access to the internet to prepare for his trial and should be released. They did not reach a resolution, leaving it for the judge to decide.
Persons: Sam Bankman, Fried, FTX, Bankman Organizations: Metropolitan Detention Locations: Brooklyn, Bahamas
A nut company called Dee's Nuts is suing YouTuber MrBeast's candy brand Feastables. When Brian Ditore founded flavored peanut company Dee's Nuts more than a decade ago, he hoped to pay homage to his grandmother, Adeline D'amore, court documents say. On August 25, Dee's Nuts filed a lawsuit against MrBeast's Feastables, accusing the brand of trademark infringement by naming one of its chocolate flavors "Deez Nuts." Actual results when searching "dees nuts" show Dee's Nuts products. Screenshot via Walmart.comAn attorney and spokesperson for Dee's Nuts did not respond to a request for comment sent during the weekend.
Persons: YouTuber, Brian Ditore, Adeline D'amore, Brian A, Dee's Nuts, MrBeast's Feastables, MrBeast, Jimmy Donaldson, Feastables, Dee's, dees, Defendant Feastables, James Stephen Donaldson, Dr, Dre Organizations: Service, US, Inc Locations: Wall, Silicon, Iowa
Nestle divests peanut allergy business Palforzia
  + stars: | 2023-09-04 | by ( ) www.reuters.com   time to read: +1 min
Capsules of Palforzia are shown containing pharmaceutical grade peanut powder, for use in oral immunotherapy among patients with peanut allergies, manufactured by Aimmune Therapeutics, based in Brisbane, California, in this handout obtained by Reuters on February 5, 2020. Aimmune Therapeutics/Handout via REUTERS/File Photo Acquire Licensing RightsZURICH, Sept 4 (Reuters) - Nestle (NESN.S) has divested its peanut allergy treatment business Palforzia, the Swiss food company said on Monday, following its strategic review of the division. Nestle said it has offloaded Palforzia to Stallergenes Greer, a biopharmaceutical company which specializes in the diagnosis and treatment of allergies. Nestle will receive milestone payments and ongoing royalties from Stallergenes Greer, it said. Reporting by John Revill, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.
Persons: Nestle, Stallergenes Greer, John Revill, Friederike Heine Our Organizations: Aimmune Therapeutics, Reuters, REUTERS, Rights, Nestle, Thomson Locations: Brisbane , California, Swiss
FILE PHOTO: The company logo for Hormel Foods is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., October 9, 2019. REUTERS/Brendan McDermid/File Photo(Reuters) - Hormel Foods on Thursday cut its annual revenue and profit targets after missing quarterly results as the Skippy peanut butter maker wrestled with lower pork and turkey prices and sluggish demand in key market China. Segment profit from international operations tumbled 50% from a year earlier, with the company citing softness in China and lower branded export demand. Hormel Foods now expects annual adjusted earnings per share between $1.61 and $1.67, compared with $1.70 to $1.82 forecast earlier. The Austin, Minnesota-based company now expects a flat to 4% decline in annual net sales, compared with a rise of 1% to 3% expected earlier.
Persons: Brendan McDermid, Hormel, Tyson Foods Organizations: Hormel, New York Stock Exchange, REUTERS Locations: New York, U.S, China, Austin , Minnesota
Smucker has an RTO policy that requires workers to be on-site only during 22 "core" weeks. The Smucker model appears to be a hit with workers, who can live anywhere as long as they return for "core" weeks. Amazon's CEO Andy Jassy just told employees it was "past" time to commit to its return-to-office mandate of three days a week. Last week, Goldman Sachs told more of its workers to start coming into the office five days a week. Facebook/JifThe company has about 6,000 employees worldwide, but the "core" weeks program is targeted at the 1,300 corporate workers based at its Orrville headquarters.
Persons: Smucker, Andy Jassy, Goldman Sachs, Zoom, Uncrustables —, didn't, Smucker's, they're, Nicole Massey, Massey, Mark Smucker, Lakshmi Organizations: Service, Wall Street, Employees Locations: Orrville , Ohio, Wall, Silicon, San Francisco, Bay, Akron , Ohio, Lakshmi Varanasi, lvaranasi
We recently published a collection of the 50 most popular recipes of the year so far on New York Times Cooking. If nothing else, I hope it reminds you to make our furikake tomato sandwiches while supplies last (and by that I mean audaciously juicy summer tomatoes), and that there are few pleasures more pure than plunging deep into a bowl of Magnolia Bakery banana pudding. I’ve included a few recipes from that collection below, and others I want you to know about before summer ends. I’m dearemily@nytimes.com if you want to reach out. I always love to hear from you.
Persons: I’m Organizations: New York Times
"It is unclear how a cooperating witness who has promised to testify against a defendant could be meaningfully threatened by nothing but their own statements being published by a reputable newspaper," Bankman-Fried's lawyers wrote. His lawyers also said the jail was not allowing Bankman-Fried enough computer time to review evidence and prepare his defense. In her writings, Ellison described feeling "unhappy and overwhelmed" with her job and "hurt/rejected" from her break-up with Bankman-Fried. Prosecutors said Bankman-Fried shared Ellison's writings to harass her, and to dissuade others from testifying if they thought he would make them look bad in the press. Reporting by Luc Cohen in New York; Editing by Daniel Wallis and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.
Persons: Sam Bankman, Eduardo Munoz, Fried, District Judge Lewis Kaplan, Caroline Ellison, Ellison, Adderall, Luc Cohen, Daniel Wallis, Nick Zieminski Organizations: REUTERS, U.S, District, New York Times, FTX's, U.S ., Appeals, Prosecutors, Alameda Research, Brooklyn's Metropolitan Detention Center, Thomson Locations: New York, U.S, Brooklyn's
He's been living off of bread, water, and peanut butter, according to NBC News. AdvertisementAdvertisementSam Bankman-Fried's attorney claimed the disgraced crypto mogul is living off of scraps in custody because his requests for a vegan diet have been ignored. According to a commissary list for the prison, Bankman-Fried has been able to purchase two peanut butter and jelly sandwiches per visit, costing $3.65 per sandwich. AdvertisementAdvertisementBefore he was remanded to prison in the US this year, Bankman-Fried previously said that he mainly ate peanut butter while incarcerated in the Bahamas. Bankman-Fried's attorney didn't immediately respond to Insider's request for comment.
Persons: Sam Bankman, He's, Mark Cohen, Fried, Sarah Netburn, FTX, Caroline Ellison's, Ellison, Bankman, didn't Organizations: NBC News, Morning, Metropolitan Detention, NBC, Alameda Research, MDC, Alameda Locations: Brooklyn, Bahamas, Bankman
Lawyers for the former crypto billionaire, who is vegan, said the detention center is not accommodating his diet and failing to regularly dispense his prescription Adderall. “He’s literally now subsisting on bread and water, which are the only things he’s served that he can eat, and sometimes peanut butter,” his attorney, Mark Cohen, told the court. It’s a far cry from his house arrest, which he spent in the relative luxury of his parents Palo Alto home in California. Bankman-Fried, 31, has pleaded not guilty to multiple conspiracy and fraud charges relating to the collapse of his exchange, FTX, in November. The company filed for bankruptcy and quickly became the center of the federal fraud investigation.
Persons: Sam Bankman, Fried, “ He’s, he’s, Mark Cohen, Judge Netburn, Palo, Lewis Kaplan, Caroline Ellison, Bankman, FTX, SBF Organizations: New, New York CNN, of Prisons, Metropolitan Detention, Palo Alto, Super Bowl, Alameda Research Locations: New York, Brooklyn, California
In a hearing in New York on Tuesday, lawyers for FTX founder Sam Bankman-Fried expressed concerns over their client's living conditions at Brooklyn's Metropolitan Detention Center, where he's being housed for alleged witness tampering. U.S. District Judge Lewis Kaplan, who is presiding over the criminal trial, had told a jail to provide these prescribed medications to Bankman-Fried. Judge Netburn said the defense would have to make trial prep requests through Judge Kaplan. Judge Netburn said she would address concerns over Bankman-Fried's living conditions directly with the U.S. Justice Department's Bureau of Prisons, which runs the jail. WATCH: Sam Bankman-Fried sent to jail over witness tampering
Persons: FTX, Sam Bankman, Mark Cohen, Christian, Judge, Sarah Netburn, Fried, Cohen, District Judge Lewis Kaplan, George Lerner, Lerner, Christian Everdell, Netburn, Judge Netburn, Judge Kaplan, Bankman, Caroline Ellison, Ellison Organizations: U.S, Brooklyn's Metropolitan Detention, District, MDC, U.S . Justice Department's, of Prisons, The New York Times, Alameda Research Locations: Manhattan, New York City, New York, Brooklyn's, U.S, Bankman
Pet wellness brand Honest Paws is recruiting ambassadors for its peanut butter product. Americans spent $58.1 billion on pet food and treats in 2022, according to the American Pet Products Association. Pet wellness company Honest Paws is offering $100 an hour to dogs that can be ambassadors for its peanut butter, according to an August 1 announcement. Honest Paw's investment could go a long way to sell its peanut butter which comes with a nearly $30 price tag for each jar. Honest Paws did not immediately respond to a request from Insider for comment sent outside regular business hours.
Organizations: American Pet Products, Service, American Pet Products Association Locations: Wall, Silicon
The Perfect Camping Pack List
  + stars: | 2023-08-21 | by ( Cassandra Brooklyn | ) www.wsj.com   time to read: 1 min
Handy HobFor those that want to boil water and cook on trail, try the Jetboil Mighty Mo camp stove. You’ll need to bring a fuel canister (and maybe a pan) to use it, but the stove itself weighs less than a quarter pound. If you want to eat anything other than peanut-butter sandwiches, you’ll make room. $60, REI.comJetboil
Persons: Handy, REI.com
CNN —Does your pup love peanut butter? Natural pet wellness company Honest Paws is seeking canine ambassadors to represent its own peanut butter product, according to a news release. Dogs can enjoy peanut butter regularly, but experts advise avoiding peanut butter that contains xylitol, a sugar-free substitute that is highly toxic for pets, according to the National Peanut Board. Honest Paws says its peanut butter pouches do not contain the ingredient, according to its website. Applications for the canine ambassador role are open until September 1, according to Honest Paws.
Persons: Organizations: CNN, National Peanut Board, American Kennel
Lon Wilhelms got Alpha-gal syndrome from a lone star tick bite. For me, it started when I came down with COVID-19 in July of 2022, and all these things started going wrong with me. Alpha-gal is more than just a red meat allergyMeat that comes from mammals is a no go for people living with Alpha-gal syndrome. CDCThe guessing gameThe lone star tick is common in the rural part of the East Coast I live in. A map that shows where the lone star tick is common in the United States.
Persons: Lon Wilhelms, Lyme, it's, I've, It's, Lon, I'm Organizations: Alpha, Service, Reuters, CDC, Lone, Coast, Facebook Locations: Wall, Silicon, United States
The facility limits him to two peanut butter jelly sandwiches every two weeks. Embattled ex-FTX CEO Sam Bankman-Fried is going to miss having his peanut butter and jelly sandwiches in prison. For starters, he will be only limited to two peanut butter jelly sandwiches every two weeks while in prison. According to the commissary list, Bankman-Fried can only purchase two peanut butter and jelly sandwiches at $3.65 each per visit. That could be tough for Bankman-Fried, a vegan who said he subsisted on peanut butter when he was incarcerated in the Bahamas last year.
Persons: Sam Bankman, Fried, Lewis Kaplan, Cameron Lindsay, it's Organizations: Metropolitan Detention, Morning, US, New York Times, of Prisons, Bankman Locations: Brooklyn, Bahamas, Alameda
United Airlines passengers en route to Rome last month were stuck on the plane for more than 7 hours. Scott Rosnov, a passenger in business class, told Insider that it felt like being taken "hostage." The flight was initially only delayed for 20 minutes after flight personnel identified a problem with the air conditioning, Rosnov told Insider. "The flight attendants and the pilots did a horrible job from top to bottom," Rosnov told Insider. A spokesperson for the company told Insider in an email that the flight returned to the gate at Newark to "address a temperature issue."
Persons: Scott Rosnov, Leonardo da Vinci, Rosnov, didn't, Scott Rosnov Rosnov, John F Organizations: United, Morning, United Airlines, Newark International, Newark Liberty International Airport, Newsweek, Kennedy, US Department of Transportation Locations: Rome, Newark
Their data showed mercury contamination from informal gold mining making its way into the biodiversity hotspot's mammals — from rodents to ocelots to titi monkeys. Leaders from the eight countries around the Amazon meeting in Brazil next week will discuss how to end illegal gold mining. While the scientists began testing for mercury at Los Amigos in 2021, some of the samples were gathered as early as 2018. During Reuters' visit to Los Amigos, scientists caught rodents in metal traps baited with peanut butter and snagged birds and a bat in mist nets floating through the forest. In 2021, mining arrived on Los Amigos' doorstep.
Persons: Conservación Amazônica, Mrinalini Erkenswick, Erkenswick Watsa, biogeochemist Jacqueline Gerson, there's, it's, Gideon Erkenswick, Jorge Luis Mendoza Silva, Caroline Moore, Moore, Chris Sayers, Jake Spring, Gloria Dickie, Marco Aquino, Oliver Griffin, Katy Daigle, Suzanne Goldenberg Organizations: Los, Biological, Amigos, Reuters, San Diego Zoo Wildlife Alliance, Projects International, Los Amigos, University of Colorado, REUTERS, Gold Council, USAID, Peruvian, Nature Communications, San Diego Zoo Wildlife, University of California, Thomson Locations: Peru, Peruvian, Peru's, de Dios, Madre de Dios, Brazil, Colombia, California, University of Colorado Boulder, Los Amigos, Dios, Latin America, Congo, Indonesia, University of California Los Angeles, London, Lima, Bogota
“He kept knocking me against the wall, he put a bruise on my forehead and one on my cheek,” Perkins said. The intruder then told Perkins that he was hungry. When he finished, the suspect put on his pants and walked out the door but left his shoes, shirt, and knife behind, according to Perkins. The police in a news release did not identify the suspect or name Perkins, who is described as a resident. A Maine court clerk would not provide any updates on the charges or attorney information because the alleged intruder is a minor.
Persons: Marjorie Perkins, ‘ I’m, ’ ” Perkins, ” Perkins, Perkins, , hadn’t Organizations: CNN, Brunswick Locations: Brunswick, Maine
Currently, customers have to order separately from Amazon Fresh, Whole Foods, and Amazon.com. Amazon would like to make it possible to order these kinds of snacks and beverages along with a Whole Foods order. But for now, don't expect to see Doritos or Diet Coke or other products with these banned ingredients in stores. Starting Wednesday, nonmembers in some US cities will be able to order Fresh groceries to their doorsteps — a service that has been limited to Prime members. "We will accomplish this by more intentionally bringing together Amazon Fresh, Whole Foods Market, Amazon Go, Amazon Style, and Global Specialty Fulfillment under one global leadership team."
Persons: Coke, Tony Hoggett, Amazon's, Hoggett, Tayfun Organizations: Bloomberg, Amazon, Foods, Service, Tesco, Anadolu Agency, Getty Images Bloomberg Locations: Wall, Silicon, nonmembers
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