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☆ 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.

☆ 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.

☆ Top 10 things to watch in the stock market Monday: Banks, Nvidia, Starbucks
▼ + stars: | 2023-03-20 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

The market puts about 60% odds on a quarter-point rate hike and 40% odds on no hike as policymakers watch of the unfolding banking struggles. Sign up for my Top 10 morning thoughts on the market email newsletter for free 2. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ These elite dividend stocks have raised their payments for over 60 consecutive years
▼ + stars: | 2023-03-19 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Through recessions and economic booms, over decades of market volatility, only eight companies in the S & P 500 have hiked their annual dividends year-in and year-out for at least 60 years. It pays an annual dividend of $1.84 per share, and currently has a dividend yield of 3.07%, while the S & P 500's average dividend yield is 1.65%. Manufacturing company Stanley Black & Decker and food and beverage giant PepsiCo have raised their annual dividends for more than 50 years. ExxonMobil and Chevron have hiked their annual dividends for 40 and 36 years, respectively. Based on the current dividend rate, with no additional increases or decreases, Silverblatt expects cash payments for 2023 to increase 3.9% over 2022.

☆ SpaceX, Netflix, Boeing to join "biggest-ever" US business mission to Vietnam
▼ + stars: | 2023-03-17 | by ( Francesco Guarascio | Thomson Reuters | Francesco Leads A Team Of Reporters In Vietnam That Covers Top Financial | ) www.reuters.com time to read: +3 min

HANOI, March 17 (Reuters) - SpaceX, Netflix and Boeing are among the companies joining the "biggest-ever" U.S. business mission to Vietnam next week to discuss investment and sales opportunities in the booming Southeast Asian nation, the organiser said. More than 50 companies, including defence, pharmaceutical and tech firms, will participate in the mission organised by the US-ASEAN Business Council, an industry body, according to a list seen by Reuters. "This is the biggest-ever mission in Vietnam," said Vu Tu Thanh, the US-ASEAN Business Council's representative in the country, noting that the body had been organising these events for three decades. The majority of the companies joining the business mission already have a business or manufacturing presence in Vietnam, including Apple (AAPL.O), Coca-Cola (KO.N) and PepsiCo (PEP.O), Thanh said, with some planning to expand it. Among them is SpaceX, which is looking to sell its satellite internet services to Vietnam and other countries in the region, Thanh said.

☆ Tyson Foods to lay off 1,700 workers, close two chicken plants
▼ + stars: | 2023-03-14 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

A package of Tyson Foods Inc. chicken is arranged for a photograph in Tiskilwa, Illinois. Tyson Foods will close two chicken plants in May, affecting nearly 1,700 employees. "While the decision was not easy, it reflects our broader strategy to strengthen our poultry business by optimizing operations and utilizing full available capacity at each plant," Tyson said in a statement to CNBC. The company's plants in Van Buren, Arkansas, and Glen Allen, Virginia, will close May 12. Coca-Cola offered voluntary buyouts to North American workers, while PepsiCo cut jobs in its Frito-Lay and North American beverage units.

☆ 'Flamin' Hot' producer DeVon Franklin reveals why he tapped Eva Longoria to direct the film and why he's unfazed by questions over whether it's true to the origins of the fiery Cheetos flavor
▼ + stars: | 2023-03-13 | by ( Reed Alexander | ) www.businessinsider.com time to read: +11 min

The movie "Flamin' Hot" celebrates Mexican heritage and the invention of Flamin' Hot Cheetos. Impressed with the unlikely entrepreneur, Enrico gave it a try — and thus, Flamin' Hot Cheetos were born, and Montañez's career took off. "Flamin' Hot" stars actor Jesse Garcia as Richard Montañez. Eva Longoria directed the new film "Flamin' Hot." The LA Times article, amongst journalists and amongst this small group of people, may get some traction.

☆ With 'Flamin' Hot' movie set to premiere at SXSW, its producer tackles claims about the central character's role in creating the spicy Cheetos flavor and reveals how Eva Longoria won the director job
▼ + stars: | 2023-03-10 | by ( Reed Alexander | ) www.businessinsider.com time to read: +11 min

The movie "Flamin' Hot" celebrates Mexican heritage and the invention of Flamin' Hot Cheetos. An LA Times report raised doubt about the role of the film's protagonist, Richard Montañez, in creating the flavor. Impressed with the unlikely entrepreneur, Enrico gave it a try — and thus, Flamin' Hot Cheetos were born, and Montañez's career took off. Eva Longoria directed the new film "Flamin' Hot." The LA Times article, amongst journalists and amongst this small group of people, may get some traction.

☆ Food is getting cheaper. But not for you
▼ + stars: | 2023-03-08 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

When food producers started raising prices a few years ago, they blamed their own costs, including higher ingredient prices. Many food companies are forecasting that they might slow down or pause price increases — but not lower them. But ingredients typically make up a small portion of overall food costs. Companies are maintaining elevated prices, or continuing to increase them, at a time when many Americans are already struggling to pay for food, especially as pandemic-era food stamp benefits expire. So people keep buying food at the grocery store, despite higher prices — giving producers an opportunity to convince retailers that those higher prices won’t drive customers away.

☆ Exclusive: Activist Legion Partners nominates 4 directors at Primo Water -letter
▼ + stars: | 2023-03-06 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

NEW YORK, March 6 (Reuters) - Activist investor Legion Partners Asset Management is pushing for four new directors to join Primo Water Corp's (PRMW.N) board, arguing they could help the water company's share price triple over five years. Legion nominated experts in water delivery, beverage operations, marketing and capital allocation as director candidates for election to the U.S.-Canadian company's 10-person board to help reverse "chronic underperformance," according to a letter seen by Reuters. "Substantial shareholder-driven change in the boardroom is long overdue and necessary at the 2023 Annual Meeting in order for Primo to achieve its full potential," Legion's managing directors, Chris Kiper and Ted White, wrote to fellow Primo Water shareholders. Legion, which helped place directors onto boards at Bed Bath & Beyond and Kohl's, said it owns a 1.5% stake in Primo Water and has been an investor in the past. Primo Water offers home and office water delivery, water exchange, where customers return their empty water jugs and buy new ones at retailers, and water refill, its most affordable offering, where customers refill jugs themselves.

☆ Monster Beverage is making booze that tastes just like its energy drinks, and you can already buy it in these 6 states
▼ + stars: | 2023-03-01 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

The Beast Unleashed contains 6% alcohol by volume and flavors inspired by its energy drinks. Called The Beast Unleashed, the drinks are made with malt alcohol and contain 6% alcohol by volume, though no caffeine or energy-inducing ingredients. But the Beast beverages are its latest attempt to diversify its business. Beast Unleashed, which the company announced in early 2022, is the company's first alcoholic beverage that uses the Monster brand. The launch marked the first alcoholic beverage that the cola maker sold in the US.

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, Dick's, Costco, Snowflake, Meta, Dish & more
▼ + stars: | 2023-02-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Mizuho reiterates Tesla as buy Mizuho said it's standing by its buy rating heading into the company's analyst day on March 1. Barclays reiterates Apple as equal weight Barclays said low growth in the App Store is the "new norm" for Apple. Morgan Stand reiterates Dick's as overweight Morgan Stanley said it's standing by its overweight rating heading into Dick's earnings on March 7. Bank of America downgrades Dish to underperform from buy Bank of America said it sees inflationary pressure for the satellite TV company. Deutsche Bank reiterates Salesforce as buy Deutsche Bank said it's standing by shares of Salesforce heading into earnings on Wednesday.

☆ The White House is cracking down on companies illegally using migrant children to fill the labor shortage as 15-year-olds pack Cheerios and 13-year-olds change your hotel sheets
▼ + stars: | 2023-02-28 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +7 min

The New York Times reported last week that companies across the US are exploiting the labor of migrant children. The investigation comes as multiple states seek to loosen child labor laws to address the labor shortage. The Times reported that the use of child labor is prevalent across a number of prominent brands in the US, highlighting J. The Labor Department has found some of these companies, such as ice cream staple Ben & Jerrys, guilty of child labor violations before. Economists say that during a labor shortage, paring back child labor laws is a common phenomenon in the US.

☆ Wall Street’s most overbought stocks include PepsiCo and this little-known insurance company
▼ + stars: | 2023-02-26 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The data sparked a broad market sell-off, with the S & P 500 losing 1%. .SPX 5D mountain Tough week for stocks Still, investors should consider easing exposure to names that are still overbought. CNBC Pro screened for S & P 500 stocks in overbought territory, using the relative strength index. CNBC Pro also screened for S & P 500 stocks in oversold territory. To be sure, First Republic shares are down 1.2% year to date, lagging SPDR S & P Regional Banking ETF (KRE) — which is up 5% in 2023.

☆ UBS likes these high-quality dividend stocks to weather a downturn
▼ + stars: | 2023-02-22 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

UBS screened the S & P 1,500 for stocks that have a forward dividend of more than 2% and strong relative dividend growth expectations over the next six months. Here are eight stocks that made UBS' list. Discover Financial made the list, with a forward dividend of 2.2%. The name with the highest forward dividend yield on the list is billboard operator Lamar Advertising at 4.67%. Other names that made UBS' list include PepsiCo , Qualcomm , Broadcom , Ralph Lauren and ConocoPhillips .

☆ Watch CNBC's full interview with PepsiCo CEO Ramon Laguarta
▼ + stars: | 2023-02-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with PepsiCo CEO Ramon LaguartaRamon Laguarta, PepsiCo CEO, joins 'Squawk on the Street' to discuss his thoughts on the company in 2023, sales, consumer growth and a possible push into alcoholic beverages.

☆ Jim Cramer says six things must happen before the market sell-off can end
▼ + stars: | 2023-02-21 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Tuesday gave a six-item checklist for what must happen before he will be ready to declare an end to the market sell-off. As the market swings the other way, in what Cramer called a "Presidents Day sale," he said the downturn might not be just a one-day affair. In order for the sell-off to end, according to Cramer, six things need to happen:The accelerated rise in Treasury yields must slow down. Anomaly stocks that are trading disproportionately high, many of which are in the tech sector, need to come down. "Unfortunately, this Presidents Day sale doesn't feel like it's over.

☆ Walmart cautious on economy, forecasts annual earnings below estimates
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +3 min

Feb 21 (Reuters) - Walmart Inc (WMT.N) forecast full-year earnings below estimates on Tuesday, saying it was cautious about the economic outlook for 2023 and that consumers were likely to continue shopping for lower-priced items that could pressure its margins. "There's still a lot of trepidation and uncertainty with the economic outlook. "So, that makes us cautious on the economic outlook because we simply don't know what we don't know." Walmart forecast fiscal 2024 earnings of $5.90 to $6.05 per share, compared with analysts' estimates of $6.50 per share, according to Refinitiv IBES data. Still, Walmart reported strong demand in the quarter ended Jan. 31, posting total revenue of $164.05 billion, a 7.3% increase from last year.

☆ Analysis: To raise prices or not? Consumer goods makers weigh bets on buyer strength
▼ + stars: | 2023-02-20 | by ( Jessica Dinapoli | Thomson Reuters | New York-Based Reporter Covering U.S. Consumer Products Spanning Paper Towels To Packaged Food | ) www.reuters.com time to read: +6 min

But, there are small signs the pressure is easing, with U.S. consumer prices a month earlier declining for the first time in two-and-a-half years, due in part to gas prices. Price hikes - or halts - are set to take center stage at the Consumer Analyst Group of New York annual conference on Feb. 20 in Boca Raton, Florida. DIFFERENT PREDICTIONSAfter more than a year of consistent price hikes, some consumer goods makers such as Kraft Mac & Cheese manufacturer Kraft Heinz Co (KHC.O) are pressing pause as they weigh consumer demand for their items. Frozen pizza prices have risen about 14% in the last year, according to IRI data. "Retailers cannot truly push back on prices … if the company has an important brand," Bernstein analyst Bruno Monteyne said.

☆ PepsiCo Recalls Starbucks Vanilla Frappuccino Bottles
▼ + stars: | 2023-02-19 | by ( Ginger Adams Otis | ) www.wsj.com time to read: 1 min

The bottled Frappuccino drinks being recalled by PepsiCo aren’t sold at Starbucks retail locations. PepsiCo Inc. has recalled more than 25,000 cases of a Starbucks drink over concerns glass might have gotten into some bottles, according to the U.S. Food and Drug Administration. A “foreign object” identified as glass may have been found in some Starbucks vanilla Frappuccino beverages that PepsiCo distributes and sells, the FDA notice said. No injuries have been reported.

☆ Pepsico recalls some Starbucks vanilla frappuccino drinks in U.S.
▼ + stars: | 2023-02-19 | by ( ) www.reuters.com time to read: +1 min

Feb 18 (Reuters) - Pepsico Inc (PEP.O) recalled more than 25,000 cases of Starbucks (SBUX.O) chilled coffee drink after glass was found in some of the bottles, the U.S. Food and Drug administration said in a notice. The voluntary recall, which was initiated on Jan. 28, covers more than 300,000 bottles of the Starbucks frappuccino vanilla chilled coffee drink, the FDA said. The FDA classified this as a Class 2 recall, which means the "product may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remote", according the agency's website. Distributed nationwide by PepsiCo, the bottles with expiration dates Mar. Pepsico did not immediately respond to a Reuters request for comment on a Saturday.

☆ Elon Musk promised a lot with the Tesla Semi. Here's how it stacks up now that it's finally here
▼ + stars: | 2023-02-18 | by ( Andrew Evers | ) www.cnbc.com time to read: +1 min

First announced by Elon Musk in 2017, the Tesla Semi has been one of the longest-delayed products in the company's history. But the new electric truck is finally here, with PepsiCo being the first customer to receive some of the 100 vehicles it pre-ordered. Pepsi declined to say whether it had pressed the trucks to test if they have the full 500-mile range Musk promised. The Tesla Semis there are the latest additions to the company's fleet of more than 80,000 vehicles. Watch the video to learn more about PepsiCo's Tesla Semis and whether they live up to the hype.

☆ Some Starbucks vanilla drinks are recalled, might have glass in them
▼ + stars: | 2023-02-18 | by ( Jay Croft | ) edition.cnn.com time to read: +1 min

CNN —Distributor PepsiCo is recalling more than 300,000 Starbucks Vanilla Frappuccino bottles because they might have glass in them, the FDA said this week. The drinks are 13.7-ounce Vanilla Frappuccinos with UPC number 0 12000-81331 3. The products are being removed from the marketplace, said a statement provided to CNN from PepsiCo on behalf of the North American Coffee Partnership, its organization with Starbucks. “The North American Coffee Partnership is committed to a high level of quality in the products we serve. “If a consumer has purchased a product and has questions or concerns, they can call Consumer Relations at 1-800-211-8307.”

☆ Fashion Faces Recycling Fees Similar to Other Industries
▼ + stars: | 2023-02-16 | by ( Dieter Holger | ) www.wsj.com time to read: +7 min

Electronics and packaging companies have banded together to help pay for recycling programs under government rules. EPR programs charge producers tiny fees—often a fraction of a penny—on individual items to fund waste collection and recycling. The fees from the relevant products, such as packaging, electronics or clothing, then fund recycling, including infrastructure, collection, sorting and public communications. Recycling successEPR programs can significantly boost recycling rates, according to a study published this month from the Recycling Partnership, a nonprofit group. It is expanding its textile recycling beyond its customer network, which includes Levi Strauss & Co. and VF Corp. -owned The North Face.

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REUTERS/Dado Ruvic/Illustration/File PhotoFeb 16 (Reuters) - Walmart Inc's (WMT.N) results on Tuesday will provide Wall Street with new details on what items American shoppers are buying as rising grocery prices squeeze their wallets. In December, Walmart CEO Doug McMillon said "we do not like" that some suppliers were hinting at raising prices further in 2023. He warned that Walmart would allocate space to private and tertiary brands if prices got too high. KitKat maker Nestle on Thursday said further price hikes were necessary to offset commodity costs. Still, Wall Street expects Walmart sales and revenue to rise in 2023 as its shipping and logistics costs moderate, even as labor expenses go up.

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