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☆ Shares of Wells Fargo and Morgan Stanley rise on plans to raise their dividends
▼ + stars: | 2024-07-01 | by ( Morgan Chittum | ) 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. Shares of Morgan Stanley and Wells Fargo climbed 1% and 0.7%, respectively, after the banks announced a boost to their dividend payouts Friday evening. 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.

Persons: Jim Cramer, Raymond James, Morgan Stanley, Wells Fargo, Wells, necrotizing, Abbott, Jim Cramer's, ABT, Jim Organizations: CNBC, Facebook, Federal, Barclays, Abbott Labs, Wall Street

☆ 10 things to watch in the stock market Monday including a defense of Abbott Labs
▼ + stars: | 2024-07-01 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

My top 10 things to watch Monday, July 1 Stocks are indicated higher Monday following a slight decline last week. The top-performing Club stocks in the second quarter had one thing in common: the AI trade. Morgan Stanley hiked its price target on Nvidia to $144 from $116, citing strong demand for Hopper generation chips in Asia ahead of the launch of the company's next-generation Blackwell platform. Deutsche Bank upped its price target on Walmart to $77 a share from $71. UBS upgraded Birkenstock to a buy rating from neutral with a $85 price target, up from $52.

Persons: Morgan Stanley, Tesla, Wells, Abbott, We've, Bernstein, Vertiv, Raymond James, Goldman Sachs, Snowflake, Jim Cramer's, Jim Cramer, Jim Organizations: Treasury, Nvidia, Hopper, Blackwell, Boeing, Jefferies, Barclays, Abbott Laboratories, Analysts, Eaton, Caterpillar, Cummins, GE Vernova, Deutsche Bank, Walmart, Fox, UBS, Jim Cramer's Charitable, CNBC Locations: Asia, Snowflake

☆ We're encouraged by an activist's willingness to buy an Abbott rival, look past baby formula suits
▼ + stars: | 2024-05-21 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Baby formula suits : Activist investor group Eminence Capital has built a stake of at least 0.5% in Reckitt Benckiser, according to the Financial Times. Eminence's reported position follows Reckitt's selloff to an all-time low in March on concerns about baby formula litigation. Abbott makes a competing baby formula and faces similar lawsuits, alleging the companies failed to warn about the risks of their products. ABT YTD mountain Abbott YTD Abbott's next baby formula event is a state trial in St. Louis that begins in July. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Eminence's, Reckitt's, Abbott, we've, Reckitt, ABT, YTD Abbott's, Louis, we're, We're, Jim Cramer's, Jim Organizations: CNBC, Nvidia, Blackwell, Eminence, Financial Times, Abbott Labs, TJX, Target, Devices, Jim Cramer's Charitable Locations: Reckitt Benckiser, Illinois, Reckitt, St, Maxx, Williams, Sonoma

☆ Eli Lilly climbs on win for rival weight-loss drug, and we still feel good about Abbott Labs
▼ + stars: | 2024-03-28 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Abbott update : Shares of Abbott Laboratories were slightly higher Thursday, on pace for their third straight day of gains. The embattled cosmetics company was the top-performing Club stock in Thursday's session, boosted by an upgrade at Bank of America . 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.

Persons: Jim Cramer, Eli Lilly, Wegovy, Abbott, Louis, Jim, Reckitt's Mead Johnson, Mead, Johnson, Stanley Black, Decker, Estee Lauder, Lauder, there's, Jim Cramer's, AJ Mast Organizations: CNBC, Stocks, Bloomberg, Amazon Pharmacy, Rite, Abbott Laboratories, Abbott, NEC, Home, U.S, Bank of America, Jim Cramer's Charitable, Getty Locations: U.S, St, Illinois, China, Indianapolis , Indiana

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

☆ 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

LONDON, June 27 (Reuters) - Reckitt's (RKT.L) Lysol disinfectant brand said on Tuesday that it would start selling in the U.S. an "air sanitizing spray" that kills 99.9% of airborne viruses and bacteria. The spray, which Reckitt said helps reduce the spread of airborne pathogens such as cold, Influenza and Coronavirus, has been approved by the U.S. Environmental Protection Agency. During the COVID-19 pandemic, Reckitt, Clorox (CLX.N) and other disinfectant makers benefited from a boom in sales of surface cleaners and wipes. At the time, there were no products suited to sanitizing air, though some anxious consumers took to spraying surface cleaners into their surroundings. The formula contains active molecules that are hygroscopic in nature, which allows the molecules to attach to microorganisms suspended in the air.

Persons: Reckitt, We'd, Chris Jones, Richa Naidu, Louise Heavens Organizations: U.S . Environmental Protection Agency, Thomson Locations: U.S

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.

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.

☆ 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%.

"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."

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