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☆ Election next week holds big implications for stock market, especially the control of Congress
▼ + stars: | 2024-11-01 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

But the true implications for investors monitoring the election may lie in which party controls Congress, rather than who will sit in the White House. .SPX YTD mountain S & P 500 The importance of whichever party controls Congress was highlighted by Trump's recent trips outside battleground states such as New Mexico , a state that hasn't voted for a GOP presidential nominee in roughly 20 years. On the other hand, Evercore ISI's Emanuel expects a Harris victory, with a Democratic sweep of Congress, could result in the S & P 500 falling to roughly 5,700. The S & P 500 slid 1%, while the Nasdaq dipped 0.5%. Earnings season continues with about 100 S & P 500 companies confirmed to report.

Persons: Donald Trump, Kamala Harris, Trump, Nanette Abuhoff Jacobson, I'm, Abuhoff Jacobson, hasn't, Brian Burrell, Jay Hatfield, Harris, Hatfield, Evercore ISI's Julian Emanuel, Evercore ISI's Emanuel, Jerome Powell's, Ralph Lauren, Warner, Alex Harring Organizations: NBC, Congress, House, Democratic, Republican, Hartford Investments, GOP, Thornburg Investment Management, Infrastructure Capital Advisors, Senate, Wednesday, Regional Banking, Treasury, Federal Reserve, Dow Jones, Nasdaq, National, Marriott International, Diamondback Energy, Wynn Resorts, Palantir Technologies, NXP Semiconductors, PMI, PMI Services, Services PMI, Petroleum, Brands, Technology, Computer, CVS, Howmet Aerospace, Gilead Sciences, Labor, Consumer, Moderna, Molson Coors Beverage, Halliburton, Hershey Co, Warner Bros, Expedia, Akamai Technologies, Paramount Locations: New Mexico, Albuquerque, Santa Fe , New Mexico, Hartford, Albemarle, Qualcomm, Michigan

Pittsburgh CNN —In the years that Pennsylvania Senate candidate Dave McCormick led one of the world’s largest hedge funds, the firm bet millions of dollars against some of the state’s biggest and most iconic companies, financial filings show. For financial institutions, short positions can be lucrative. The fund shorted about four dozen companies from Pennsylvania during McCormick’s tenure, the records show. The fund did invest in stocks of some of the same Pennsylvania companies it shorted in other years, and overall, it reported spending more money buying stocks of Pennsylvania companies than shorting them in four of the five annual reports reviewed by CNN. She argued that the short positions Bridgewater took in Pennsylvania companies didn’t negatively impact employees because they represented a small fraction of each company’s overall value.

Persons: Dave McCormick, McCormick, “, ”, Kevin Boltz, Democratic Sen, Bob Casey –, Casey, Luke Sharrett, Elizabeth Gregory, Dave, ” Gregory, Bridgewater, ” McCormick wasn’t, Andrew Jennings, Dan Mallinson, “ They’re, ” Mallinson, “ That’s, ” Eric Talley, Talley, I’m, Justin Merriman, McCormick’s, Biden, Bernie Hall, ” Hall, Gregory, Michael M, Eric Hovde of, Tim Sheehy, Bernie Moreno, dogging McCormick, Mallinson Organizations: Pittsburgh CNN —, Bridgewater Associates, The Hershey Company, US Steel, CNN, US Department of Labor, Republican, Hershey, Democratic, Bridgewater, Bloomberg, Getty, McCormick’s, Bridgewater Equity Fund, Labor, Securities and Exchange Commission, Comcast, Penn National Gaming, Emory University School of Law, Penn State, Columbia University, Steel, Japan's, Nippon Steel, Keystone, Nippon, Pennsylvania, United Steelworkers, Senate, Penn Locations: Pennsylvania, Bridgewater, Harrisburg, Pittsburgh, China, Eric Hovde of Wisconsin, Montana, Ohio

☆ Hershey is turning its candy into energy drinks and protein powders
▼ + stars: | 2024-09-18 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —With its line-up of sweet snacks, Hershey isn’t known as a purveyor of diet foods. As the use of weight-loss drugs — notably Ozempic and Wegovy — grows, the 130-year-old confectionery company is adjusting to this new era by pushing further into the wellness category with protein powders and energy drinks in popular candy flavors. Hershey’s namesake milk chocolate and Reese’s peanut butter and chocolate will soon be sold as protein powders and its Jolly Rancher candies will be turned into bubbly energy drinks. Energy drinks, which are most often bought by millennial and Gen Z customers, have “a lot of affinity” with Hershey’s products, Cunningham told CNN. C4 has already had success with using flavors from Skittles, Starburst and Popsicle for its other energy drinks.

Persons: Hershey, —, “, ”, Doss Cunningham, Red Bull, Cunningham, ” Cunningham, Andrea Hernández, Hernández, Hershey’s Organizations: New, New York CNN, Hershey Company, C4 Energy, Red, Energy, CNN, Kroger, Walmart, Hershey, One Locations: New York, “, United States, Amazon

☆ Wall Street heads into the week ahead worrying the rally to record highs is running out of steam
▼ + stars: | 2024-02-02 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Wall Street continues to climb a wall of worry even as investors deliberate how much longer equities can maintain their record run. But questions remain for investors after some major disappointments in an intense week suggested more challenges ahead. Apple dropped 3% this week after reporting lackluster earnings, weighing on the Dow Jones Industrial Average. Elsewhere in corporate earnings, regional banks as represented by the SPDR S & P Regional Banking ETF slid 7% after poor results from New York Community Bank spurred investor fears of a wider contagion. Signs of market weakness For investors, there may be more issues in the market going forward in 2024.

Persons: Stocks, Jerome Powell, Apple, Scott Rubner, Goldman Sachs, Rubner, Russell, Liz Ann Sonders, Charles Schwab, CNBC's, Sonders, Lehman, Raymond James, Josh Beck, James McCann, Abrdn, McCann, Rhys WIlliams, Williams, it's, Art Hogan, They're, Hogan, Estee, Eli Lilly, Ralph Lauren, Rowe Price, Philip Morris Organizations: Meta, Dow Jones, Regional Banking, New York Community Bank, Bank, Microsoft, Nvidia, Apple, Markets, Wayve Capital Management, Riley, Atlanta, PMI, Simon Property, Companies, Tyson Foods, Semiconductor, Caterpillar, Prudential Financial, Ford Motor, Enphase Energy, GE Healthcare Technologies, Consumer, Walt Disney Co, Wynn Resorts, PayPal, Brands, CVS Health, Hilton Worldwide, Uber Technologies, Costco Wholesale, Motorola Solutions, Expedia, Rowe Price Group, ConocoPhillips, The Hershey Co, Philip Morris International, PepsiCo Locations: China

☆ This CEO is changing the rules of American farming. Here’s why
▼ + stars: | 2023-11-21 | by ( Alicia Wallace | ) edition.cnn.com time to read: +12 min

At a time when social and environmental investments have been politicized, Ford and Land O’Lakes are staying the course. Courtesy Land O’Lakes, Inc.“We’re focusing on the things that are most important to our members, their families and to their businesses,” she told CNN. The EPA and the Hershey Company gave $2 million to Land O’Lakes member farms in Pennsylvania. Land O'Lakes CEO Beth Ford at the company's headquarters in Arden Hills, Minnesota, on July 29, 2021. In 2020, Land O’Lakes convened the American Connection Project coalition to advocate for public and private investment in high-speed internet infrastructure in rural communities.

Persons: “, Beth Ford, Ford, Evan Hillan, don’t, Truterra, ” Ford, ”, Ford’s, Carol, —, CNN’s Poppy Harlow, ‘ I’ve, ’ ” Ford, Harlow, Richard Tsong, I’ve, “ I’ve, O’Lakes, isn’t, Lucas Fuess, Kim Reynolds, Fuess, there’s, Kelly Garrett, ” Garrett, Garrett Organizations: Arden Hills , Minnesota CNN —, Fortune, Arden, Ford, CNN, Inc, US Environmental Protection Agency, EPA, Hershey Company, Pepsi, Mobil, Scholastic —, Star Tribune, Getty, American Connection, Biden, Republican, ”, Nature Locations: Arden Hills , Minnesota, Wisconsin, Truterra, Mill Hill , Pennsylvania, Pennsylvania, America, Ford, Sioux City , Iowa, Iowa, Iowa , Idaho , Kansas, Modale , Iowa, Inc, West, Arion , Iowa, American

☆ After a robust third quarter, US economic growth will likely slow. That's good for the prospect of rate cuts next year.
▼ + stars: | 2023-10-22 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

The central bank also doesn’t have any incentive to restrict the economy through elevated interest rates if inflation is already under control. The US central bank has raised interest rates 11 times since March 2022 to their highest level in 22 years. The US Commerce Department reports new home sales in September. The US Commerce Department reports third-quarter gross domestic product along with September figures on new durable-goods orders. The US Labor Department reports the number of new applications for jobless benefits in the week ended October 21.

Persons: Jerome Powell, ” Gregory Daco, ” Diane Swonk, Donald Trump, Colin Kaepernick’s, Bud Light’s, Elliott Gotkine, ”, Jeffrey Sonnenfeld, “, Satya Nadella, ” Sundar Pichai, , Sherwin, Williams, Clark, General, Hess, Rowe Price Organizations: CNN Business, Bell, DC CNN, The Commerce Department, Federal Reserve, Treasury, KPMG, BlackRock, America, Nike, Yale School of Management, Microsoft, ” Disney, Sonnenfeld, Tottenham Hotspur, Whirlpool, Verizon, General Electric, Barclays, 3M, General Motors, Spotify, Quest Diagnostics, Mobile, Boeing, General Dynamics, Old Dominion, Hilton, Meta, IBM, US Commerce Department, Mastercard, Merck, Comcast, UPS, Myers Squibb, Northrop Grumman, Valero, The Hershey Company, Amazon, Intel, European Central Bank, US Labor Department, National Association of Realtors, Exxon Mobil, Chevron, Colgate, Palmolive, Phillips, University of Michigan Locations: Washington, EY, Israel, United States, United Kingdom, London, Gaza, Kimberly, Haliburton, Old, Bristol, AbbVie

☆ Snack company behind 'One Chip Challenge' pulls its extra-hot tortilla chip from stores following the death of a 14-year-old
▼ + stars: | 2023-09-08 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

A teenager died hours after eating an extra-hot tortilla chip in the 'One Chip Challenge.' Paqui, the chip company, has pulled the product from stores, saying it was marked as not-for-kids. A screenshot of a now-deleted graphic on the Paqui 'One Chip Challenge' website. "I hope, I pray to God that no parents will go through what I'm going through," the boy's mother told WBZ-TV. The "One Chip Challenge" has been around for several years and was reviewed by Insider's video team in 2016.

Persons: Harris Wolobah, Paqui, Amos, Lois, Wolobah, Insider's Kieran Press, Reynolds Organizations: Service, CBS News, WBZ, The Hershey Company, Washington Post, Hershey Locations: Wall, Silicon, Texas, Massachusetts, California, TikTok

Since his death, Texas-based manufacturer Paqui has asked retailers to stop selling the individually wrapped chips, a step 7-Eleven has already taken. The One Chip Challenge chip sells for about $10 and comes wrapped in a sealed foil pouch that is enclosed in a coffin-shaped cardboard box. Authorities in Massachusetts also have responded by warning parents about the challenge, which is popular on social media sites such as TikTok. Family and friends of Wolobah believe the chips caused his death and his family called for the chips to be banned from store shelves. In addition to its name, One Chip Challenge, the package lays out the challenge rules, which encourage the buyer to eat the entire chip, “wait as long as possible before drinking or eating anything” and post their reaction on social media.

Persons: Harris, Paqui, Attorney Joseph Early, ”, Lauren Rice, Dr, Peter Chai, ” Chai, Wolobah, Douglas Hill, “, Douglas Organizations: The Hershey Company, Authorities, Attorney, Paramedics, Tufts Medical Center, Brigham, Women’s Hospital, ” Police Locations: WORCESTER, Massachusetts, Texas, Worcester, Worcester County, California, Minnesota, Boston, Liberia

☆ Paqui ‘One Chip Challenge’ Product to Be Pulled From Shelves
▼ + stars: | 2023-09-07 | by ( Remy Tumin | More About Remy Tumin | ) www.nytimes.com time to read: 1 min

The tortilla chip company that challenged consumers to eat a single chip dusted with two of the hottest peppers in the world is pulling the product from retail shelves, the company said on Thursday. The move followed the death of a teenager whose family said he had died after consuming the chip. “The Paqui One Chip Challenge is intended for adults only, with clear and prominent labeling highlighting the chip is not for children” or other sensitive groups, the company, a subsidiary of the Hershey Company, said in a statement on its website. “We have seen an increase in teens and other individuals not heeding these warnings.”As a result, the company said, it was working with retailers to remove the product from shelves “out of an abundance of caution.”

Organizations: Hershey Company

(AP) — The maker of an extremely spicy tortilla chip sold as the One Chip Challenge and popularized as a dare on social media is pulling the product after the family of a Massachusetts teenager blamed the stunt for his death. The One Chip Challenge chip sells for about $10 and comes wrapped in a sealed foil pouch that is enclosed in a coffin-shaped cardboard box. Political Cartoons View All 1148 ImagesAuthorities in Massachusetts have also responded to the death by warning parents about the challenge, which is is popular on social media sites such as TikTok. Family and friends of Wolobah believe the chips caused his death, and his family called for the chips to be banned from store shelves. In addition to its name, One Chip Challenge, the package lays out the “rules for the challenge,” which encourages the buyer to eat the entire chip, “wait as long as possible before drinking or eating anything,” and post their reaction on social media.

Persons: Harris Wolobah's, hasn't, Attorney Joseph Early, ”, Lauren Rice, Dr, Peter Chai, Wolobah, Douglas Hill, “, Douglas Organizations: The Hershey Company, Attorney, Tufts Medical Center, Brigham, Women’s, ” Police Locations: WORCESTER, Massachusetts, Texas, Worcester County, California, Minnesota, Boston, Worcester, Liberia

One of the last things Harris Wolobah, 14, of Worcester, Mass., ate before he died was a single tortilla chip in a coffin-shaped box that bore an image of a skull with a snake coiled around it, his mother said. Lois Wolobah said her son’s school called last Friday to tell her he was sick and that she needed to come and get him. When she arrived, Harris was clutching his stomach in the nurse’s office, she said in an interview on Tuesday. He showed her a picture of what he had just consumed: a single Paqui chip, dusted with two of the hottest peppers in the world, the Carolina Reaper and the Naga Viper. The label on the box said “One Chip Challenge” and carried a warning — “Inside: One Extremely Hot Chip.” Paqui tortilla chips are made by Amplify Snack Brands, a subsidiary of the Hershey Company.

Persons: Harris Wolobah, Lois Wolobah, Harris Organizations: Brands, Hershey Company Locations: Worcester

☆ Why are all the cool Kit Kats only available internationally?
▼ + stars: | 2023-09-02 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

They create buzz and urgency, which help decades-old brands like Kit Kat stay relevant. A few years later, Rowntree’s renamed the product Kit Kat Chocolate Crisp. Nigel Roddis/ReutersAfter manufacturing and distributing Kit Kat for decades, the British company entered into a deal with Hershey, giving it control over US Kit Kat distribution in 1970. Nostalgic candies, like traditional Kit Kat bars, exert a powerful hold over those who loved them in their childhood, she noted. When people reach for a Kit Kat, they’re reaching for a reliable jolt of sweetness and good feelings, she said.

Persons: Kit, Kit Kat, Kat, Kats, Behrouz Mehri, Nestlé, Lynn Dornblaser, Dornblaser, “, Kit Kat wasn’t, Chocolate Crisp, Rowntree’s, Kat Chocolate Crisp, Rowntree's Kit Kat, Nigel Roddis, Hershey, Kit Kats, Rowntree Mackintosh, Milo Kit Kat, Chris O’Donnell, ”, O’Donnell, it’s, Milo, Kit Kat Japan, Kat Churro, Justin Kukura, Marcia Mogelonsky, they’re Organizations: New, New York CNN, Target, Walmart, Hershey, Getty, Mintel Consulting, Reuters, Nestlé, Lotus, Hershey Company Locations: New York, United States, Japan, AFP, British, Hershey , Pennsylvania, ., Australia, Hershey

Recessions haven't always resulted in declining stock markets, and good opportunities can be found amid them. Sectors for recession naysayersThe best sectors for recession disbelievers are the most economically sensitive ones: industrials, materials and financials. Well-positioned companies with good growth prospects currently include: Corteva, Dow Chemical, Ecolab, Linde plc, Martin Marietta Materials, Nucor Corp., PPG Industries and Sherwin-Williams. Currently buyable names include: Campbell Soup Co., General Mills, The Hershey Co., Kellogg's, Kimberly-Clark Corp., Kroger, Procter & Gamble and Walmart. Sector names with reasonable risk levels and good growth prospects include: Vertex Pharmaceuticals, IDEXX Laboratories, DaVita Inc., Veeva Systems Inc., IQVIA Holdings Inc., Cigna Group and Zoetis Inc.

Persons: Sherwin, Williams, Mayur, Martin Marietta, JPMorgan Chase, Rowe Price, Willis Towers Watson, Campbell, General Mills, Clark, Willie B, Thomas, Digitalvision Organizations: Westend61, University of Michigan Consumer, Investors, Westinghouse Air Brake Co, Cummins Inc, CSX, Emerson Electric, Otis Worldwide, Carrier, Caterpillar, Honeywell, Illinois Tool, Lockheed Martin Corp, Dow Chemical, Ecolab, Linde plc, Martin, Martin Marietta Materials, Nucor Corp, PPG Industries, XLF, JPMorgan, Rowe Price Group Inc, American International Group, Allstate, The, McLennan, Sectors, Co, Hershey Co, Clark Corp, Kroger, Procter, Gamble, Walmart, Getty Images Health, iShares U.S, Medical Devices, Vertex Pharmaceuticals, IDEXX Laboratories, DaVita Inc, Veeva Systems Inc, IQVIA Holdings Inc, Cigna, Zoetis Inc Locations: American, The Hartford, Marsh, Kimberly

☆ Reese's calling its new peanut butter cups 'plant-based' is the clearest sign the term has lost all meaning
▼ + stars: | 2023-03-08 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

Hershey is debuting a chocolate bar and Reese's peanut butter cups that are plant-based. The candies use oat milk instead of dairy milk. It's the latest plant-based version of a packaged food as the term becomes over-used. The Hershey Co., which makes both of the candies, will start selling plant-based peanut butter cups this month, the company said Tuesday. The peanut butter cups will be the first vegan chocolates that the company has sold across the US, the company said.

☆ Hershey launches vegan Reese’s
▼ + stars: | 2023-03-07 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

New York CNN —Vegan Reese’s are happening. Hershey, which makes Reese’s along with Hershey bars, Kisses and other chocolates and candies, announced two new dairy-free products on Tuesday: Reese’s plant-based peanut butter cups, and a vegan chocolate Hershey bar with almonds and sea salt, each made with oats instead of dairy and designed to taste like milk chocolate. The new Reese’s variety will be available nationally this month, and the new Hershey bar is arriving in April. The company is the latest to introduce a vegan chocolate in hopes that it will attract more customers. Mondelez (MDLZ) acquired Hu, a company which makes vegan chocolate, that year, as well.

☆ Bath & Body Works adds director, Third Point backs off proxy fight
▼ + stars: | 2023-03-06 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

[1/2] Shoppers wait in line outside a Bath and Body Works retail store in Brooklyn, New York, U.S., December 8, 2020. REUTERS/Brendan McDermid/File PhotoNEW YORK, March 6 (Reuters) - Bath & Body Works Inc (BBWI.N) on Monday named veteran financial executive and board member Thomas Kuhn as a new director, ending a potential challenge from billionaire investor Daniel Loeb's hedge fund Third Point. "Tom’s 35 year history as a respected financial and legal advisor, including working with consumer companies, will bring an important perspective to Bath & Body Works as it focuses on its key strategic initiatives to maximize shareholder value," Bath & Body Works board chair Sarah Nash said in a statement. Bath & Body Works, which is valued at roughly $10 billion, has been operating as a standalone company since 2021. At Bath & Body Works the company was advised by law firm Wachtell Lipton Rosen & Katz, financial services company J.P. Morgan Chase & Co, proxy solicitor Innisfree M&A Inc and public relations firm Joele Frank.

☆ Bath & Body Works adds second new director amid pressure from Third Point
▼ + stars: | 2023-02-21 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

Last week Bath & Body Works added Lucy Brady, a senior executive at Conagra Brands (CAG.N) and consumer products veteran to the board, expanding the group to 11 from 10 members. Voskuil and Brady's appointments come weeks after Third Point, which owns a 6% stake in the company, hinted it might push for board seats. In December Third Point announced its stake in a regulatoryfiling and criticized the company's high costs, includinggenerous executive pay. Bath & Body Works, best known for selling soaps, candles andlotions, is valued at $10 billion. Third Point spent an average of $38.16 per share on thestock which is now trading at $40.76.

☆ Premarket stocks: Why traders are so infatuated with inflation
▼ + stars: | 2023-02-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

What’s happening: Investors will get some market direction clarity on Tuesday morning with the release of key inflation data. It’s not all about the Fed: Traders are infatuated with CPI, but it’s likely going to affect markets more than it will future Fed policy. “CPI is the big inflation report that affects markets more than any other,” he said. Even beyond housing, the services sector has seen year-over-year inflation higher than 3.9% every month since March 2021, said Chaudhuri. And as Powell noted in Washington last week, the stickiness of core services inflation is his greatest concern.

☆ Trader Joe's is being sued after tests suggested some of its dark chocolate contains potentially unsafe levels of lead and cadmium
▼ + stars: | 2023-01-06 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Trader Joe's was hit by two lawsuits over alleged high levels of lead and cadmium in its chocolate. Consumer Reports found that two of its own-brand dark chocolate bars contain potentially unsafe quantities of heavy metals. The lawsuits relate to two of Trader Joe's own-brand products: its 72% cacao dark chocolate and its Dark Chocolate Lover's 85% cacao chocolate. For the Dark Chocolate Lover's 85% cacao chocolate, these levels were 127% for lead and 229% for cadmium. Because dark chocolate contains more cacao than milk chocolate, it generally has higher levels of lead and cadmium as a result.

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