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☆ Apple and these other companies reporting next week have a history of outperforming earnings expectations
▼ + stars: | 2023-07-28 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Although not an exact science, companies whose quarterly results exceed analyst estimates could see their shares rise in resulting enthusiasm. CNBC Pro screened for the companies scheduled to report earnings next week that also have a record of outperforming the Street's expectations. Apple The maker of the iPhone, iMac and iPad is set to report results Thursday after the bell. Yum China The Chinese restaurant holdings company, which includes KFC and Pizza Hut, has a record of topping earnings estimates 73% of the time. The company has a 75% record of beating earnings estimates and tops revenue forecasts 71% of the time.

Persons: Kraft Heinz, Steve Madden, CNBC's Michael Bloom, Fred Imbert Organizations: Apple, Qualcomm, Devices, Kraft, CNBC Pro, Investment, Bank of America, KFC Locations: Cupertino , California, China, Yum China

☆ Jell-O’s new look emphasizes its ‘jiggly goodness’
▼ + stars: | 2023-07-27 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

The jiggly snack’s logo and packaging are getting a whole new look, their first in a decade, as owner Kraft Heinz looks to revitalize the dowdy brand. Jell-O's current look on the left and new look, on the right. The “O” in the Jell-O logo is getting a bolder look because it’s an “ownable, playful aspect” of the brand. Jell-O sales fell 19% from 2009 to 2013 to $753 million, the Associated Press reported at the time. Last year, the company teased that it was giving the brand a refresh look and increasing its advertisement spend.

Persons: New York CNN —, Kraft Heinz, ”, Neil Saunders, It’s, ” Saunders, Bill Cosby, “, ” Rachel Herz, Saunders Organizations: New, New York CNN, Shoppers, GlobalData, CNN, White, Associated Press, IRI Locations: New York

☆ Cadbury-maker Mondelez lifts annual revenue growth forecast on strong demand
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

July 27 (Reuters) - Mondelez International (MDLZ.O) on Thursday raised its annual 2023 revenue growth forecast for the second time this year, helped by robust demand for the Oreo maker's snacks and chocolates despite higher prices. Shares of the Cadbury chocolate maker rose 1.6% in after-hours trading as the company also beat second-quarter revenue expectations. Mondelez's upbeat forecast came on the back of a strong first quarter and indicated that consumers remained resilient to higher prices for their favorite snack brands. The company said it expects a full-year organic net revenue growth of more than 12% in 2023, up from a prior forecast of more than 10% growth. The company's net revenue rose 17% to $8.51 billion in the second quarter, surpassing analysts' average estimate of $8.21 billion.

Persons: Campbell, General Mills, Kraft Heinz, Savyata Mishra, Pooja Desai Organizations: Mondelez, Cadbury, Kellogg, Thomson Locations: Bengaluru

☆ Kraft Heinz looks to revive Maxwell House brand with new instant iced latte with foam
▼ + stars: | 2023-07-26 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

At 131 years old, Maxwell House is no spring chicken, and most of its loyal drinkers aren't either. But Kraft Heinz is looking to revive the coffee brand by appealing to younger consumers with its new iced latte with foam, its first product launch in nearly a decade. Even within the instant coffee segment, Maxwell House ranks third, trailing Nestle's Nescafe and JM Smuckers' Folgers in U.S. market share, according to Euromonitor International data. But with its new Iced Latte with Foam, Maxwell House hopes to bridge that gap and win over new customers. The iced latte with foam is available nationwide at major retailers and on Amazon and comes in three flavors: vanilla, hazelnut and caramel.

Persons: Maxwell, aren't, Kraft Heinz, Nescafe, Smuckers, Dunkin Organizations: Maxwell House, Euromonitor, Starbucks, Maxwell, Kraft Locations: U.S

☆ ‘Smart tattoos’ injected into the skin could someday monitor your health
▼ + stars: | 2023-07-26 | by ( Samantha Bresnahan | ) edition.cnn.com time to read: +8 min

"Smart tattoo" ink shows up here as the blue dots, activated by UV light during testing at Carson Bruns' lab in Boulder, Colorado. “We hope our results will ultimately inform Magic Ink and all tattoo ink manufacturers how to optimize the biocompatibility of their pigments in due time. A “check-engine light”Researchers say one advantage of smart tattoos over wearable technology such as smart watches or glucose monitors is that they can’t be hacked or run out of battery. A tattoo artist in London practices with smart ink developed by researcher Ali Yetisen on a piece of pig skin. He envisions a future where astronauts could utilize smart tattoos in space to gauge radiation exposure, for infectious disease detection in the general public or to help monitor chronic disease.

Persons: ”, Ali Yetisen, ” Yetisen, Yetisen, “, Carson Bruns, American Cancer Society . Bruns, Bruns, Jesse Butterfield, don’t, ” Bruns, Wearables, Dr, Daniel Kraft, Kraft, you’ll, CNN’s Michelle Cohan Organizations: CNN, Department of Chemical Engineering, Imperial College London, Harvard Medical School, Harvard, MIT, American Cancer Society ., University of Colorado, FDA, Science Foundation Locations: University of Colorado Boulder, Boulder , Colorado, United States, Yetisen’s, London

☆ Here are top stock ideas from UBS to play this earnings season
▼ + stars: | 2023-07-18 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

The second-quarter earnings season has kicked into high gear, and a slew of stocks have the potential to enjoy a boost when they surprise Wall Street, according to UBS analysts. Then UBS considers an "earnings alpha factor score," which views "value" as the most significant factor and sees "growth," "quality" and "momentum" as factors with enhanced returns. McDonald's could see a pop when it reports quarterly earnings next week, according to UBS' screen. Truist on Tuesday reiterated McDonald's as buy as the Wall Street firm expects same-store sales momentum due to the Grimace birthday meal. Other consumer names Campbell , Kellogg and Kraft Heinz could also outperform in this earnings season, according to UBS.

Persons: McDonald's, Campbell, Kellogg, Kraft Heinz, — CNBC's Michael Bloom Organizations: UBS, Hasbro

☆ Michelle Wie West enjoys magical ending at US Women’s Open
▼ + stars: | 2023-07-08 | by ( Aimee Lewis | ) edition.cnn.com time to read: +4 min

Wie West has lived much of her life in the public eye. She turned professional a year later, just shy of her 16th birthday, and won her only major – the US Women’s Open – in 2014. Michelle Wie West won the US Women's Open in 2014. This too could be Sorenstam’s final major – she has said this would be her last US Women’s Open. “I thought my last [U.S. Women’s Open] would be in 2008,” she said, per the LPGA.

Persons: Michelle Wie West, ”, Makenna, Mike Whan, Wie West, Ezra Shaw, ” Wie, “ It’s, Annika Sorenstam, Darron Cummings, Swede, Will, “, it’s, We’ve, ” America’s Bailey Tardy Organizations: CNN, US, Kraft Nabisco, Sony, USGA, Getty, Women’s Locations: Pebble, Wie

☆ Cramer's Lightning Round: Ferrari is a 'true juggernaut'
▼ + stars: | 2023-07-06 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Origin Materials' year-to-date stock performance. Stock Chart Icon Stock chart icon Orange's year-to-date stock performance. Stock Chart Icon Stock chart icon Ferrari's year-to-date stock performance. Stock Chart Icon Stock chart icon Walt Disney's year-to-date stock performance. Stock Chart Icon Stock chart icon Marathon Digital's year-to-date stock performance.

Persons: I'm, it's, Walt Disney's, Walt Disney, Bob Igar, Kraft, Kraft Heinz, Jim Cramer's Locations: Orange, America

☆ 7 of Twitter's most followed users have jumped onto Threads: 'May this platform have good vibes'
▼ + stars: | 2023-07-06 | by ( Kai Xiang Teo | Reena Koh | ) www.businessinsider.com time to read: +4 min

Ellen DeGeneres is currently the Twitter user with the greatest following to have posted on Threads. Already, some of Twitter's most followed users have jumped onto the Threads wagon. Shakira, 53.8 million Twitter followersShakira Marc Piasecki/FilmMagic/Getty ImagesShakira made her move to Threads on Tuesday with her first post: "Well hello Threads 👋." Jennifer Lopez, 44.9 million Twitter followersJennifer Lopez in 2023. read her first post, followed by: "Hola a todos!!!!!"

Persons: Ellen DeGeneres, Shakira, Kim Kardashian, Twitter's, twit, Mark Zuckerberg, Elon Musk, Ellen DeGeneres Brooks Kraft, DeGeneres, Bill Gates, Bill Gates Taylor, Shakira Marc Piasecki, witter, J, ola, hal i, ari Organizations: Twitter, Getty, unc, lse Locations: usk

☆ Lightning Round: Ferrari is a true juggernaut, says Jim Cramer
▼ + stars: | 2023-07-06 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Ferrari is a true juggernaut, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Origin Materials, Rivian, Orange, Ferrari, Walt Disney, Marathon Digital and Kraft Heinz.

Persons: Ferrari, Jim Cramer, Walt, Kraft Heinz Organizations: Ferrari, Walt Disney, Marathon, Kraft Locations: Orange

☆ To fridge or not to fridge? Ketchup company clears the air on how customers should store the popular condiment
▼ + stars: | 2023-07-02 | by ( Ashley R. Williams | ) edition.cnn.com time to read: +1 min

“FYI,” began the tweet from the United Kingdom-based branch of the food and beverage company. !”Kraft Heinz, whose ketchup is among its popular condiments, shared the heavily punctuated statement on Tuesday in a tweet that reached over 4 million people. A day later, the company asked the public via a Twitter poll whether they kept their ketchup chilled or in the pantry. Some Twitter users who voiced their distaste for cold ketchup pointed out that ketchup bottles are stored at room temperature on tables at restaurants. At the time, Heinz responded, “Because of its natural acidity, Heinz Ketchup is shelf-stable, but refrigerate after opening to maintain product quality.”

Persons: Kraft Heinz, ”, ” Kraft Heinz, Heinz Organizations: CNN, Heinz Locations: United Kingdom, United States

☆ She Played Hopscotch With Anne Frank. Her Story Will Live On Too.
▼ + stars: | 2023-06-29 | by ( Elisabeth Egan | ) www.nytimes.com time to read: +2 min

Not long after Hannah Pick-Goslar’s family relocated from Berlin to Amsterdam in 1933, her mother made a friend at the grocery store — a fellow Jewish refugee from Nazi Germany who was accompanied by a dark-eyed girl around Pick-Goslar’s age. “Anne had trouble whistling, so sometimes she’d just hum the tune,” according to Pick-Goslar’s best-selling memoir, “My Friend Anne Frank,” written with Dina Kraft and published on June 6, six days before what would have been the diarist’s 94th birthday. The teenagers last saw each other from opposite sides of a barbed-wire fence at Bergen-Belsen in 1945. “As she began to fade, I wrote of her life,” Kraft explains in an afterword to their book, which is based on hundreds of hours of interviews conducted in person and via Zoom. Hannah being Hannah — the nurse and caregiver and concerned person that she was for her whole life — kept checking up on me, texting, ‘Are you OK?’”

Persons: Hannah Pick, confidantes, “ Anne, “, Anne Frank, ”, Dina Kraft, Frank, she’d, Anne ”, ” Kraft, Kraft, Hannah, Hannah —, — Locations: Berlin, Amsterdam, Nazi Germany, Bergen, Belsen, Pick, Goslar, Switzerland, Tel Aviv, Jerusalem

☆ Russia pulls back from brink of crisis after deal reached to end Wagner insurrection
▼ + stars: | 2023-06-25 | by ( Jessie Yeung | ) edition.cnn.com time to read: +17 min

Sovfoto/Universal Images Group via Getty Images Putin poses for a picture with his wife, Lyudmila, and daughters, Yekaterina and Maria. Brooks Kraft LLC/Corbis via Getty Images Putin rides a horse during a vacation in Southern Siberia in August 2009. Alexey Nikolsky/AFP via Getty Images Putin judges an arm wrestling match while visiting the Seliger youth educational forum in Russia's Tver region in August 2011. Dmitry Astakhov/RIA Novosti/AFP via Getty Images Putin plays with his dogs Yume, left, and Buffy at his home in Novo-Ogaryovo, Russia, in March 2013. Chris McGrath/Getty Images Putin and Saudi Arabia's Crown Prince Mohammed bin Salman attend the G20 summit in Buenos Aires in November 2018.

Persons: Vladimir Putin’s, Wagner, Yevgeny Prigozhin, ” Prigozhin, ” Wagner, ”, Dmitry Peskov, “, Prigozhin, ” Peskov, Putin, Putin Putin, Joseph Stalin, –, “ Putin, Evelyn Farkas, ’, Vladimir Putin, Maria Putina, Archivio GBB, ZUMA Press Wire Putin, Laski, Maria, Vladimir, Anatoly Sobchak, Lyudmila, Yekaterina, Boris Yeltsin, Yeltsin, Fidel Castro, Reuters Putin, George W, Bush, Stephen Jaffe, Camp David, Brooks Kraft, Alexey Druzhinin, Alexey Nikolsky, Mikhail Metzel, Ivan Sekretarev, AP Putin, Dmitry Medvedev, Dmitry Astakhov, Buffy, Angela Merkel, Jochen Lübke, Thomas Bach, Medvedev, Vladimir Konstantinov, Alexei Chalyi, Sergei Aksyonov, Sergei Ilnitsky, Kirill Kudryavtsev, Alexander Lukashenko, Merkel, Francois Hollande, Petro Poroshenko, Mykola Lazarenko, Barack Obama, Ban, Chip Somodevilla, Turkey Andrei Karlov, Karlov, Donald Trump, Chris McGrath, Saudi Arabia's Crown Prince Mohammed bin Salman, LUDOVIC MARIN, Emmanuel Macron, Volodymyr Zelensky, Eliot Blondet, Joe Biden, Antony Blinken, Biden, Sergey Lavrov, Denis Balibouse, Macron, Sergey Ponomarev, Mikhail Gorbachev, —, Alexander Nemenov, Alexey Danichev, Xi Jinping, Pavel Byrkin, Pavel Bednyakov, Peter Zwack, Beth Sanner, ” Sanner, “ He’s, … Putin, Moscow’s, Priogozhin Organizations: CNN, Kremlin, Communist, McCain, Putin, Getty, Russian, ZUMA Press, KGB, ZUMA Press Wire, Getty Images, Reuters, US, White House, Camp, Brooks, Brooks Kraft LLC, RIA Novosti, AP, AFP, International Olympic, Crimean, Ukrainian, United Nations, UN, Assembly, Russian Foreign Ministry, Sputnik, World, Saudi Arabia's Crown, Macron, SPUTNIK, New York Times, Central Clinical Hospital, AP Putin, Belarus, State Russian Museum, Russia’s Southern Military District, US Army, National Intelligence for Mission, State Department, European Union Locations: Moscow, Belarus, Ukraine, Russia, Kremlin, Russia’s Belgorod, Putin Russian, Russian, Rostov, St . Petersburg, Leningrad, Germany, AFP, Kazan, Cuba, Soviet Union, Southern Siberia, Russia's Tver, Novo, Ogaryovo, Hanover, Sevastopol, Crimea, Belarusian, Minsk, France, Turkey, Helsinki, Finland, Buenos Aires, Ukrainian, Paris, Geneva, Switzerland, Taganrog, Luhansk, Donetsk, Kherson, Zaporizhzhia, –, Canada, Italy, Japan, United Kingdom, Soviet, Kazakhstan

☆ Ahead of World Refugee Day, dozens of multinationals pledge to hire and train 250,000 refugees in Europe
▼ + stars: | 2023-06-19 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +4 min

New York CNN —Just ahead of World Refugee Day, 41 multinational companies on Monday publicly pledged to provide jobs, training and connections to work opportunities for more than 250,000 refugees in Europe. What different companies are doingAmong the companies that are making new pledges this week, many have already been hiring or training refugees in Europe over the past year. ISS, for instance, has already hired 500 refugees in Europe — a majority of them Ukrainian women — since March of last year. Others making hiring commitments include Adidas, Blackstone, BP, Hyatt, Ipsos, L’Oréal Group, Novartis, PepsiCo, Pfizer and The Kraft Heinz Company. The United Nations High Commissioner for Refugees estimates the number of refugees worldwide is now approaching 35 million people, with more than 12 million of them in Europe.

Persons: ”, Margot Slattery, Slattery, Margaritis Schinas, —, Catherine Shoichet Organizations: New, New York CNN, Accenture, Adecco, Cisco, Generali, Marriott International, Microsoft, Starbucks, Tent Partnership, Refugees, ISS, Union, European Commission, Hilton, Marriott, Adidas, Blackstone, BP, Hyatt, L’Oréal, Novartis, PepsiCo, Pfizer, The Kraft Heinz Company, Cisco’s, Tent, United Nations Locations: New York, Europe, Amazon, Hilton, Paris, Ukraine, Ipsos

☆ Delta is the most overbought stock on Wall Street right now. Here are the others
▼ + stars: | 2023-06-18 | by ( Fred Imbert | ) www.cnbc.com time to read: +4 min

There are overbought stocks, and then there's Delta Air Lines . A stock is considered overbought if its 14-day RSI goes above 70, signaling investors should consider easing their exposure. A 14-day RSI under 30, however, signals that a stock is oversold, meaning there may be a buying opportunity. Take a look at the most overbought stocks in the S & P 500 . Earlier this month, shares got a boost on news that General Motors will use Tesla's electric vehicle charging network .

Persons: Tesla, Bernstein's Toni Sacconaghi, Sacconaghi, Ford's, downgrades, Campbell, Campbell Soup, Mills, Kraft Heinz, — CNBC's Michael Bloom Organizations: Delta Air Lines, Delta, Retail, Walmart, Ford, American Airlines, Netflix, Cruise, Parts, Dollar, SolarEdge Technologies, Kraft

☆ Accused in Missing Man’s Grisly Killing: His Ex-Wife and Her Husband
▼ + stars: | 2023-06-16 | by ( Erin Nolan | ) www.nytimes.com time to read: +1 min

Just before 4 p.m. on April 28, 2020, Steven Kraft did as he often did on Tuesday afternoons. He caught up with them over a fast-food dinner before returning them to their mother’s home around 7 p.m.That was the last time anyone saw Mr. Kraft alive. But on Thursday, Mr. Kraft’s ex-wife, Jamie Orsini, and her husband, Nicholas Orsini, were arrested and each charged with one count of carjacking resulting in death and one count of conspiracy. The Orsinis are accused of concocting and executing an elaborate scheme to murder Mr. Kraft, 34, and dismember and burn his body, according to a criminal complaint filed in Federal District Court in White Plains, N.Y. Mr. Kraft’s body has not been recovered, according to investigators.

Persons: Steven Kraft, Kraft, Kraft’s, Jamie Orsini, Nicholas Orsini Organizations: Court Locations: Marlboro, N.Y, Beacon, White Plains

☆ Tim Cook bets his legacy on augmented reality
▼ + stars: | 2023-06-13 | by ( Clare Duffy | ) edition.cnn.com time to read: +11 min

David Paul Morris/Getty Images Cook speaks in front of an image of an iPhone 4S at Apple headquarters in 2011. Yui Mok/PA Images/Getty Images Tim Cook puts on a Boston Red Sox jersey before a baseball game between the Red Sox and the Detroit Tigers in June 2017. Justin Sullivan/Getty Images Tim Cook signs the box of a new iPhone X at an Apple Store in Palo Alto in November 2017. Andrew Harrer/Bloomberg/Getty Images Cook speaks via video conference at a House Judiciary subcommittee hearing on online platforms and market power in July 2020. In pictures: Apple CEO Tim Cook Prev NextFollowers of the company are divided on what the headset could ultimately mean for Cook.

Persons: Tim Cook, Steve Jobs, Cook, It’s, … it’s, ”, Margaret O’Mara, Andrew Burton, Phil Schiller, Jobs, David Paul Morris, Apple, Tom Williams, Marcio Jose Sanchez, Bono, Justin Sullivan, Tony Avelar, Stephen Lam, George Washington University's, Alex Brandon, Stephen Colbert, Jeffrey R, Pope Francis, Shutterstock Cook, Maddie Ziegler, AirPods, Monica Davey, James Corden, Pharrell, Beck Diefenbach, Reuters Cook, Yui Mok, Billie Weiss, Donald Trump, Jonathan, Oprah Winfrey, Win McNamee, Theresa Goh, Edgar Su, Andrew Harrer, Graeme Jennings, Noah Berger, Sajid Moinuddin, India's, Francis Mascarenhas, Brooks Kraft, it’s, Mike Bailey, “, Tim Bajarin, ’, ” Bajarin, Bajarin, they’ll Organizations: New, New York CNN, Apple, Vision, Apple Watch, University of Washington, Washington Post, Getty, Reuters, Alamy, Homeland Security, Governmental, Flint Center, Performing Arts, Cook, CBS, Serviziofotograficoor, Primary School, Boston Red Sox, Red Sox, Detroit Tigers, American Technology, White House, Steve Jobs Theatre, Carnegie Library, Central Public Library, Bloomberg, Singapore, Apple Worldwide, Conference, Epic Games, Apple Inc, FBB Capital Partners, Jobs Locations: New York, Cupertino , California, Cupertino, Palo Alto , California, Palo Alto, San Francisco, Down, London, Washington , DC, Oakland , California, Mumbai

While food inflation has become a concern for European governments from Britain to Italy recently, France has been among the most aggressive in pushing price cuts. In Hungary, Prime Minister Viktor Orban has imposed mandatory price cuts on some basic food items. But food prices still were up 14% last month after a record spike of almost 16% in March. Food prices surged after food companies and big retailers agreed in March to an average 10% increase in prices, responding to a surge in input prices the previous year and wages after Russia's February 2022 invasion of Ukraine. Meanwhile, the food industry has seen profits surge, largely making up for sharp falls during the pandemic, Le Maire said.

Persons: Bruno Le Maire, Le Maire, BFM, Viktor Orban, Maire, Knorr, Kraft Heinz, Benoit Van Overstraeten, Leigh Thomas, Richa Naidu, Silvia Aloisi, Hugh Lawson, Mark Potter Organizations: Food, Unilever, Finance, Reuters, Ministry of, Nestle, Danone, Pepsico, Thomson Locations: PARIS, France, Britain, Italy, Hungary, Ukraine

☆ A former CEO shares 5 tips on how to grow as a leader without burning out
▼ + stars: | 2023-06-08 | by ( Susan Margolin | Kellogg Insight | ) www.businessinsider.com time to read: +8 min

One step is to build a "circle of influence" filled with people who can help you make an impact. But the path forward is not always obvious, says Sanjay Khosla, senior fellow and adjunct professor of marketing at the Kellogg School and trained executive coach. "When you're stressed out, there's a mismatch between what you want to be doing and what you're actually doing," Khosla says. As part of her circle of influence, Maya identified her manager, a few peers, a senior sales leader in her company, and a handful of people outside the company. "Look at everything from another person's point of view, rather than just telling them what you're doing," he says.

Persons: Sanjay Khosla, Khosla, —, Maya's, delegating, Maya, Susan Margolin Organizations: Kellogg School, Service, Kraft Foods International, Maya Locations: Boston

June 7 (Reuters) - Campbell Soup (CPB.N) shares dropped as much as 9% on Wednesday, after the company disappointed investors by maintaining its full-year forecasts for sales and profit despite beating quarterly earnings. The move helped Campbell Soup post a 5% rise in quarterly sales, although its margins slipped to 30% from 31.2%. Campbell expects annual net sales to grow between 8.5% and 10%, compared with analysts' estimates for a rise of 9.5%, according to Refinitiv IBES data. It forecast adjusted profit of $2.95 to $3 per share, versus estimates of $3.01. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Devika Syamnath and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Campbell, Kraft Heinz, Arun Sundaram, Sundaram, Mark Clouse, Ananya Mariam Rajesh, Devika Syamnath, Anil D'Silva Organizations: Kellogg, Investors, Thomson Locations: Russia, Ukraine, Bengaluru

☆ Campbell Soup beats quarterly profit estimates on price hikes
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - Campbell Soup (CPB.N) beat Wall Street estimates for third-quarter profit on Wednesday and maintained its annual forecasts, as the maker of Pepperidge Farm cookies benefited from multiple rounds of price increases. Peer J M Smucker (SJM.N) had forecast a smaller-than-expected decline in annual sales on the back of higher prices and steady demand for its products. The company maintained its annual net sales forecast for an 8.5% to 10% rise and adjusted profit expectations of $2.95 to $3.00 per share. Campbell's third-quarter gross profit margin was 30%, compared with 31.2% a year earlier, squeezed by still-high prices of commodities and freight as well as higher marketing expenses. The company's net sales rose 5% to $2.23 billion, in line with expectations.

Persons: Campbell, Kraft Heinz, J, Ananya Mariam Rajesh, Devika Organizations: Kellogg, Thomson Locations: Russia, Ukraine, Bengaluru

☆ Insurance employees reportedly threaten to quit after CEO backtracks on remote-work policy: 'I sold my house and moved closer to my grandkids'
▼ + stars: | 2023-06-07 | by ( Grace Mayer | ) www.businessinsider.com time to read: +3 min

Insurance company Farmers Group announced changes to the company's remote work policy last month, WSJ reports. Workers at insurance giant Farmers Group are reportedly threatening to quit or unionize after the company's new CEO backtracked on its remote work policy. "I sold my house and moved closer to my grandkids," another worker's comment read, according the Journal. Farmers Group spokesperson Carly Kraft told Insider over email that the company will shift to this hybrid work policy in September. The hybrid policy change will impact roughly 60% of the company's employees, Kraft wrote.

Persons: backtracked, Raul Vargas, Carly Kraft, Kraft, Meta, Jeff Dailey Organizations: Farmers Group, Workers, Employees, Farmers, Street, . Farmers Group, Amazon

☆ These rich and famous people got burned by investing hundreds of millions in Elizabeth Holmes' Theranos
▼ + stars: | 2023-06-04 | by ( Ryan Hogg | Sarah Jackson | ) www.businessinsider.com time to read: +4 min

Here are some who got burned by Theranos, from the Walton family to Rupert Murdoch. Rupert Murdoch invested $125 million in Theranos. Julio Cortez/APThe DeVos familyThe DeVos family, who are heirs to the Amway empire and includes former US Secretary of Education Betsy DeVos, poured $100 million into Theranos. Joshua Roberts/ReutersThe Cox familyTheranos also got $100 million from the Atlanta-based billionaire Cox family, which owns the media and automotive company Cox Enterprises. The Cox family was the eight-wealthiest in the US as of 2020, with a net worth of $34.5 billion at the time, according to Forbes.

Persons: Elizabeth Holmes, Theranos, Walton, Rupert Murdoch, Holmes, Ramesh, Sunny, Balwani, Forbes —, Murdoch, Julio Cortez, Betsy DeVos, they're, Joshua Roberts, Cox, Carlos Slim Carlos Slim, América, Andreas Dracopoulos, Stavros Niarchos, Robert Kraft, It's, Kraft, Tom Brady, Matt Slocum, Alan Eisenman Alan Eisenman, Eisenman Organizations: Morning, Wall Street, Walmart, Forbes, Rupert Murdoch Media, Street, Amway, Cox Enterprises, Stavros Niarchos Foundation, Robert Kraft New England Patriots, Bloomberg, New England Patriots, CBS Locations: Theranos, Atlanta, Latin America, Mexico, FTX

☆ How the 'water bed effect' is costing you at the grocery store
▼ + stars: | 2023-05-30 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

But that habit creates a "water bed effect," putting pressure on small grocers, an NYT opinion says. For the food industry, the consequences of the water bed effect have included consolidation and less competition, Mitchell wrote. Walmart commanded about one-quarter of US grocery sales in 2021, according to Euromonitor. The subject of grocery consolidation was a concern to small grocers before the most recent merger proposal. Independent grocers represent up to one-third of US grocery sales, according to a 2021 estimate from the National Grocers Association.

☆ Why Inflation Is the Excuse for Higher Grocery Prices - The New York Times
▼ + stars: | 2023-05-29 | by ( Stacy Mitchell | ) www.nytimes.com time to read: +2 min

Food Fresh is the only grocery store in a rural stretch of southeastern Georgia. Big retailers like Walmart and Kroger “have a handle on suppliers that I can’t touch,” said Food Fresh’s owner, Michael Gay. The chains wrest deep discounts from suppliers, making it impossible for the store to come close to matching their prices. To understand why grocery prices are way up, we need to look past the headlines about inflation and reconsider long-held ideas about the benefits of corporate bigness. Major grocery suppliers, including Kraft Heinz, General Mills and Clorox, rely on Walmart for more than 20 percent of their sales.

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