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☆ The current market is 'directionless,' one CIO says, naming 6 stocks he likes right now
▼ + stars: | 2024-09-12 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

Defensive and dividend plays Alexander's strategy in playing the market right now is through defensive sectors and dividend players. As for dividend plays, Alexander is bullish on the utilities and telco sectors amid falling Treasury yields . Big pharma plays Alexander is also likes health-care and biotech players, especially big pharmaceutical companies producing products serving medical needs. Names he likes include AbbVie , AstraZeneca , Novartis and Johnson & Johnson . Johnson & Johnson, meanwhile, has been building out a "pipeline of drugs," Alexander added.

Persons: Ted Alexander, we've, we're, Alexander, it's, bullish, Durex, They've, Mead Johnson, Johnson Organizations: U.S, U.S . Federal, Sydney, Telecommunications, AT, Verizon, Frontier Communications, London Stock Exchange, Big pharma, AstraZeneca, Novartis, Johnson Locations: U.S ., South Dallas, U.S

☆ Drag Goes Mainstream in the Philippines, a Bastion of Christianity
▼ + stars: | 2024-06-22 | by ( Camille Elemia | Jes Aznar | ) www.nytimes.com time to read: +1 min

Before he put on the glittery neon yellow tasseled jumpsuit, donned the yellow wig, and lip synced and danced onstage under colorful spotlights, Paul Hidacan went through his preshow routine in a busy dressing room. “I grew up in my church,” said Mr. Hidacan, 21, who has attended service in cropped tops, skirts and boots, and started performing in drag last year. “I know there are some who raise their brows when they see me, but the pastors accept me.”In many places in the Philippines, drag is becoming more mainstream, and more popular. Drag queens are on fashion magazine covers, and are pitching name-brand products like MAC Cosmetics, Shell gasoline, Durex condoms and Samsung phones. Students of at least one public university recently held a drag competition.

Persons: Paul Hidacan, “, ”, Hidacan Organizations: MAC, Shell, Samsung Locations: Philippines

The company's third-quarter sales volumes were also up against a tough comparative period from last year, when the recall of a rival U.S.-based company's infant formula boosted sales of Reckitt's Enfamil products there. Reckitt said quarterly like-for-like net sales rose 3.4%, behind the 3.7% growth analysts had expected in a company-supplied poll. Rival consumer products makers who have raised prices over the past two years have said in recent weeks that sales volumes could soon see improvements. The price/mix for Reckitt's products, which include Nurofen tablets and Durex condoms, rose 7.5%. Volumes declined 4.1% compared with last year.

Persons: Andrew Kelly, Reckitt, Kris Licht, Bernstein, Bruno Monteyne, Richa Naidu, Jason Neely, David Evans, Helen Popper Our Organizations: Benckiser, REUTERS, Wednesday, Thomson Locations: Manhattan , New York City, U.S

☆ Condom-shy India arouses interest of global contraceptive makers
▼ + stars: | 2023-09-21 | by ( Kashish Tandon | ) www.reuters.com time to read: +5 min

Such is the trend that the market is set to more than double to $1.7 billion by 2030, showed data from GrandView Research. By contrast, 19% of U.S. men use condoms every time they have sex, showed data from the National Center for Health Statistics. World Bank data showed that, in 2021, per capita gross domestic product crossed $2,000 - a threshold at which, in China in 2006, consumption jumped. Britain's Reckitt Benckiser Group (RKT.L) has launched new products under its Durex brand and expanded its "Birds and the Bees" rural marketing campaign. SOCIAL MEDIAIndia's market leader is domestic manufacturer Mankind Pharma (MNKI.NS) with a 33% share, ahead of Reckitt Benckiser at 14%, TechSci data showed.

Persons: Kazuhiro Kamio, Okamoto, Arvind Singhal, Miah Kiat Goh, Dwight, Mankind, Ashita Aggarwal, Kashish Tandon, Sumit Khanna, Rocky Swift, Dhanya Skariachan, Christopher Cushing Organizations: GrandView Research, Reuters Graphics Reuters, Okamoto Industries, National Center for Health Statistics, Technopak Advisors, Reuters, United Nations, Benckiser, ., Mankind Pharma, Social, Jain Institute of Management & Research, HDFC Securities Institutional, View Research, Thomson Locations: BENGALURU, India, Europe, Japan, China, U.S, S.P, Bengaluru, Ahmedabad, Rocky, Tokyo

☆ Reckitt's sales volume dip takes shine off like-for-like sales beat
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

July 26 (Reuters) - Reckitt Benckiser's (RKT.L) sales volume fell in the second quarter as the Dettol and Lysol cleaning products maker increased its price mix to tame soaring raw material costs, sending its shares down more than 2%. Reckitt said on Wednesday sales volume for the second quarter was down 7.3% and its price mix rose 5.5% on a like-for-like basis to combat higher expenses. Rival Unilever (ULVR.L) on Tuesday also smashed underlying sales growth forecasts after again raising prices to offset higher costs. Reckitt on Wednesday raised its dividend to 76.6 pence for the first half, from 73 pence in the year-ago period. Reporting by Chandini Monnappa in Bengaluru; Editing by Sherry Jacob-Phillips and Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

Persons: Reckitt, Chandini, Sherry Jacob, Phillips, Jane Merriman Organizations: Rival Unilever, Thomson Locations: Ukraine, Russia, U.S, Bengaluru

LONDON, July 26 (Reuters) - Consumer companies and economists have said sentiment in China is slower than expected, but that's not stopping them from buying more condoms, Durex maker Reckitt said on Wednesday. British consumer goods giant Unilever (ULVR.L) said on Tuesday that China's declining property market and exports had sent its consumer sentiment to a historic low, having earlier this year forecast a Chinese "consumption boom". Globally, the portfolio grew by high-single digits, and in China Reckitt saw "the benefit of re-opening post COVID-related lockdowns." Reckitt has a new Taicang, China-based production facility, according to its website, set to "produce our thinnest Durex polyurethane condoms ever" for that market. "The site will produce the thinnest Durex PU condoms in history and will be committed to the continuous improvement of new technologies for PU condoms."

Persons: Reckitt, China Reckitt, Nicandro Durante, Richa Naidu, David Evans Organizations: Consumer, Unilever, Thomson Locations: China

An internal Union Investment document seen by Reuters shows that the firm received just 30 responses to its outreach. Although consumer goods manufacturers are particularly exposed, other sectors that import goods associated with deforestation, including commodities houses and industrials companies, will also face scrutiny. Consumer goods makers are counting on technology such as satellites and artificial intelligence to help eradicate deforestation from their supply chains. Several large consumer goods companies say they are close to meeting their ambitious zero-deforestation goals. "The EU rules make deforestation a financial risk as well as an environmental risk."

Persons: Ueslei Marcelino, Henrik Pontzen, Pontzen, Janus Henderson, Jonathan Toub, haven't, Snorre Gjerde, Christophe Hansen, Magdi Batato, Kit Kat, Nestlé, David Croft, Reckitt's, Arild Skedsmo, Richa Naidu, Kate Abnett, Matt Scuffham, David Evans Organizations: REUTERS, Reuters, EU, Germany's, Investment, Unilever, ESG, Union Investment, Nestle, Pepsico, Danone, L'Oreal, KLP, Aviva, Fidelity International, Reckitt, UN Food and Agriculture Organization, Consumer, Thomson Locations: Uruara, Para State, Brazil, NBIM, Nescafe, London, Brussels

☆ Reckitt names Kris Licht as CEO, beats sales estimates
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 26 (Reuters) - Reckitt Benckiser (RKT.L) has named company insider Kris Licht as CEO designate to succeed Nicandro Durante, taking the helm by the end of the year after a transition period. Licht, who has served as president of Reckitt's health business and as chief customer officer since July 2020, will be appointed to the board as an executive director from June 1. Durante, a former BAT (BATS.L) chief executive, will stay with Reckitt until December "to ensure a smooth transition". The company, which makes Durex condoms and Lysol cleaning products, also reported like-for-like net revenue up 7.9% in the first quarter, beating analyst expectations of a 3.6% rise in consensus forecast provided by the company. Reckitt, which also makes Nurofen tablets, cold remedy Lemsip and Dettol hygiene products, now expects like-for-like net revenue growth of 3-5% for the year after beating sales expectations for several quarters in a row, helped by price increases.

☆ Analysis: China rebound buoys hopes for stronger-than-expected US, Europe earnings
▼ + stars: | 2023-04-24 | by ( Joice Alves | ) www.reuters.com time to read: +6 min

But recent data and upbeat comments from major companies like LVMH (LVMH.PA), Europe's most valuable listed company, about business in China have given investors some cause for optimism. Refinitiv I/B/E/S data points to a 2.5% decline in earnings growth in the first quarter for STOXX 600 (.STOXX) companies, down from a forecast for 5.4% growth prior to the banking chaos. Europe is headed for a recession too, the data shows, with a drop in earnings of 5.4% expected in the second quarter. But stubbornly high inflation means major central banks are expected to continue to hike rates, at least in May. European financials are expected to report first-quarter earnings growth of 31%, according to Refinitiv.

The Ukraine war made energy and other commodities even more expensive than they were during the pandemic, prompting a global cost-of-living crisis. What has that done to their market share as competitors may be pricing lower and gaining share?" Tineke Frikkee, a fund manager at Unilever and Reckitt investor Waverton Asset Management, said. "Price rises should gradually decelerate as input costs do the same," Frikkee said, adding that companies should instead be investing in product innovation. "It will be a delicate balance, with consumer disposable income stretched in many key markets for these firms," Jack Martin, a fund manager at Unilever investor Oberon Investments, said.

☆ Starbucks CEO says he'll work a shift at the company's cafes once a month
▼ + stars: | 2023-03-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Starbucks CEO Laxman Narasimhan told employees Thursday that he'll work a half day every month at one of the coffee giant's locations. Narasimhan took the helm on Monday and will lead the company's shareholder meeting Thursday. His pledge comes at a rocky time for the company's relationship with its baristas. As of Friday, more than 190 company-owned Starbucks locations have voted to unionize, according to National Labor Relations Board data. Before joining Starbucks, Narasimhan was chief executive of Reckitt, which owns brands like Lysol and Durex.

☆ Starbucks' new CEO will start life at the coffee giant with a pay packet that could be worth over $28 million
▼ + stars: | 2023-03-22 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Laxman Narasimhan just started as CEO of Starbucks, and he's set to take home a hefty paycheck. This includes annual equity awards with a target value of $13.6 million, SEC filings show. According to Securities and Exchange Commission filings from September, Narasimhan will start with a base salary of $1.3 million per year. Starbucks says he'll also be eligible for annual equity awards with a target value of $13.6 million. When Kevin Johnson resigned as Starbucks CEO in April 2022, former boss Howard Schultz was named as his interim replacement.

☆ New Starbucks CEO Laxman Narasimhan takes over nearly two weeks earlier than expected
▼ + stars: | 2023-03-20 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Starbucks on Monday said that Laxman Narasimhan has officially become CEO, nearly two weeks earlier than expected. After being named incoming CEO in September, Narasimhan has spent months learning about Starbucks' business, including training as a barista. Schultz returned nearly a year ago after former CEO Kevin Johnson surprised investors by announcing his retirement. Since Schultz returned April 4, Starbucks stock has risen nearly 8%, bringing its market value to $113 billion. In September, Schultz told CNBC that he's never planning on coming back as Starbucks' chief executive again.

☆ Club meeting recap: Buying this oversold market, looking ahead to Nvidia's big week
▼ + stars: | 2023-03-20 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Watch Nvidia Club holding Nvidia (NVDA) got a series of positive Wall Street calls Monday ahead of the company's GTC developer's conference this week. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Meet Laxman Narasimhan, a coffee industry outsider who just took over as CEO of Starbucks
▼ + stars: | 2023-03-20 | by ( Avery Hartmans | Nancy Luna | ) www.businessinsider.com time to read: +6 min

Laxman Narasimhan officially took over as Starbucks CEO, replacing Howard Schultz. Narasimhan is new to the coffee industry, having started his career in the consulting world before joining PepsiCo, and, later, British consumer goods company Reckitt Benckiser. Narasimhan built his career in the beverage and consumer-goods industriesLaxman Narasimhan at Starbucks Investor Day in September 2022. Starbucks said at the time that Narasimhan would begin as CEO on April 1, taking over for interim CEO Schultz. Of the 365 Starbucks stores that have held votes to unionize, 292 have voted to form a union.

LONDON, March 1 (Reuters) - Reckitt Benckiser (RKT.L), maker of Dettol and Lysol cleaning products, on Wednesday marginally beat full-year like-for-like net revenue expectations, helped by higher prices and its nutrition and health businesses. The company said it would target like-for-like net revenue growth of mid-single digits for 2023, excluding the substantial boost its 2022 sales received from the recall of a rival's infant formula. Abbott Laboratories (ABT.N) early last year recalled dozens of infant nutrition products in the United States after customers complained of infants contracting bacterial infections. Reckitt, its biggest rival at the time, ramped up production to fill the supply gap left by Abbott, helping to drive full-year like-for-like net sales growth of about 23% in its nutrition business. The company said full-year like-for-like net revenue increased by 7.6%, edging ahead of analysts' expectations of a 7.5% rise, according to a company-provided consensus.

[1/2] Customers shop at a mall ahead of the Chinese Lunar New Year, in Beijing, China January 15, 2023. REUTERS/Tingshu Wang/File PhotoLONDON/MILAN/FRANKFURT/NEW YORK, March 1 (Reuters) - The world's top consumer and luxury goods companies have seen sales of everything from cosmetics to condoms grow in China since Beijing ended strict COVID-19 curbs, another sign that the world's No. Tourism from China was helping sales in neighbouring Macau, Hong Kong, Taiwan and even Japan, he added. Reckitt Benckiser, which makes Nurofen tablets, cold remedy Lemsip and Durex, saw a pick-up in China after a decline in volumes because of lockdowns. U.S. retailer Walmart Inc (WMT.N), which operates nearly 400 retail and wholesale stores in China, reported strong traffic in its stores since reopening.

☆ Reckitt sales marginally beat full-year estimates
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +1 min

LONDON, March 1 (Reuters) - Britain's Reckitt Benckiser (RKT.L), maker of Dettol and Lysol cleaning products, on Wednesday marginally beat full-year like-for-like net revenue expectations, helped by its nutrition and health businesses. The company said it would target like-for-like net revenue growth of mid-single digits for 2023. Abbott Laboratories (ABT.N) early last year recalled dozens of infant nutrition products in the United States after customers complained of infants contracting bacterial infections. Reckitt, its biggest rival at the time, ramped up production to fill the supply gap left by Abbott, helping drive full-year like-for-like net sales growth of about 23% in its nutrition business. Reckitt's own 2022 like-for-like net revenue growth target was 6% to 8%.

☆ Meet the brands that won on TikTok in 2022 (and have the results to prove it)
▼ + stars: | 2022-12-01 | by ( Sponsor Post | Created Tiktok For Business With Insider Studios | ) www.businessinsider.com time to read: +10 min

Launched in May 2022, TikTok for Business Europe created an awards program to showcase the brands and agencies who were embracing the platform, and had incredible results to show for it. Together, these brands give a masterclass on what it takes to succeed on TikTok, showcasing campaign strategies and ad solutions that drive remarkable results. Videos were set up as In-Feed Ads on TikTok, geo-targeted specifically to 14 cities, inviting the TikTok community to visit them along the tour. In partnership with NewScreen, Back Market partnered with three TikTok creators who each leaned into a different environmental issue: water usage, CO2 consumption, and the use of raw materials. Unieuro perfectly showcased the power of creator-driven, native content and the impact of boosting creative as In-Feed Ads to maximize reach and engagement with the TikTok community.

☆ Analysis: European retailers are on investors' naughty lists this Christmas
▼ + stars: | 2022-10-28 | by ( Joice Alves | ) www.reuters.com time to read: +5 min

On stock markets, the European retail sector (.SXRP) has lost 40% of its value so far this year, more than twice the hit on the broader regional share index (.STOXX). Yet, JPMorgan and other strategists say the worst is yet to come for consumers and retailers alike. European retailersSURGING COSTSHigher energy bills and wages and elevated freight and fabric prices have pushed up costs for euro zone companies by more than 40% this year, according to Eurostat data. "A lot of these retailers are running with elevated inventory levels, in order to clear that you'd expect a lot more promotions and discounting. "Our exposure to retailers has remained highly selective all year," he said, adding that he prefers discount retailers, which could benefit from consumers trading down.

"The peak of pricing and commodities will be the second half of this year," he added, saying supply chain cost inflation is starting to come down. Despite those pressures, Reckitt now expects like-for-like sales growth of 6%-8% in 2022, compared with its previous guidance of 5%-8%. "Clearly consumers are buying a little less in more discretionary categories," Carr said, flagging that sales volumes had declined in the supplements, vitamins and air freshener categories. Sales volumes declined 4.6%. Once all these one-offs are excluded, some sell-side analysts believe underlying sales growth is far more modest and close to the bottom end of medium-term sales growth guidance."

☆ Reckitt upbeat on sales outlook as prices rise
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

The higher prices, which are contributing to a global cost-of-living crisis, are denting sales volumes as many people turn to cheaper or private label products. The company's third-quarter like-for-like revenue rose 7.4%, above the 6.1% growth analysts had expected in a company-supplied poll. Sales volumes declined 4.6%. Prices for the company's products rose 12% in the quarter. Reckitt, which has held off on price increases in this category, said it estimated this benefit to have added about 3% to net revenue growth in the third quarter.

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