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☆ Reducing pesticides in food: Major food manufacturers earn an F grade
▼ + stars: | 2023-11-08 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +11 min

“Pesticide exposure during pregnancy may lead to an increased risk of birth defects, low birth weight, and fetal death,” the American Academy of Pediatrics stated. “Exposure in childhood has been linked to attention and learning problems, as well as cancer.”Yet pesticide exposure is widespread, even for chemicals that were banned years ago by federal agencies. In the 2023 Shopper’s Guide to Pesticides in Produce — a list of nonorganic produce with the most pesticides — researchers found 210 different pesticides on the 12 foods. In addition, consumers can ask food companies to “release the actual test results of pesticide concentrations in their products,” said EWG’s Temkin. “Food companies have not been publishing such data, instead relying on generalities,” she said via email.

Persons: ”, Cailin Dendas, “, disheartening, Jane Houlihan, Houlihan, Kale, collard, ” Alexis Temkin, toxicologist, ” Dendas, Jim Watson, Dendas, Sow, General Mills, Archer Daniels, Lamb, Nestlé, Dane Lisser, Shelby Stoolman, EWG’s, Temkin, ” Temkin, “ Steer Organizations: CNN, “ Pesticides, Healthy, “, ”, American Academy of Pediatrics, Environmental, US Environmental Protection Agency, Environmental Protection Agency, US Centers for Disease Control, Getty, Archer Daniels Midland Co, PepsiCo Inc, Conagra Brands Inc, Campbell Soup Company, Lamb Weston Holdings Inc, G Foods Inc, Cargill, Danone S.A, Del Monte Pacific Ltd, General, Inc, Kraft Heinz Company, Mars Incorporated, Mondelēz, Post Holdings Inc, ADM, US Food and Drug Administration Locations: United States, AFP

☆ Earnings aren't bad, but fourth-quarter forecasts are slipping. Here's what that means for the market
▼ + stars: | 2023-10-26 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Results haven't been bad, but the macro is overwhelming everything, and fourth-quarter guidance is slipping. Here's a general rule for the stock market: earnings are the main determinant of stock prices in the long run, but in rare cases macro trends can overwhelm their message. Earnings are OK, but the trend is down On the surface, this looks like a good earnings season. With earnings, however, it's the trend in the forward quarter that matters: is the trend up or down? If Treasury yields stabilize or even move lower, that will be a more important factor than a slightly lower earnings environment.

Persons: Here's, CNBC's Robert Hum, Sellers, Chubb, Sherwin, Williams, Kimberly Clark, Campbell, Swift, FactSet's John Butters, what's Organizations: Microsoft, Waste, Norfolk, Procter, Gamble, Pepsi, Soft, Nvidia, Express, Visa, Southwest Airlines Locations: Meta, Winnebago, Corning, Big Tech, Treasurys

☆ Morgan Stanley warns snack companies that weight loss drug study showed 'significant reduction in food consumption'
▼ + stars: | 2023-10-23 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

The use of Eli Lilly 's Mounjaro for weight loss can pull shoppers away from the snack aisle — though the transition will likely be gradual, according to Morgan Stanley. Kaufman noted a six-week study presented at ObesityWeek that showed users of Mounjaro cut calories and weight at a faster clip. The study also produced evidence that medication takers had a "significant reduction in food consumption," as well as fewer cravings for sweets and fast food fats. And while taking Mounjaro reduced food cravings overall, it had a particular impact on sweets, the study found. All four of the snack makers Kaufman said to watch have lost share value in 2023.

Persons: Eli Lilly, Morgan Stanley, Mounjaro, Pamela Kaufman, Kaufman, Hershey, Campbell, — CNBC's Michael Bloom Organizations: Drug Administration, Hershey, Brand Locations: Mondelez

☆ Conagra Brands beats quarterly profit estimate on price hikes
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

[1/2] Slim Jim products, owned by Conagra Brands, are seen for sale in a store in Manhattan, New York, U.S., November 15, 2021. Shares of the Chicago-based packaged food maker fell 1.4% to $26.15 premarket on Thursday as Conagra missed quarterly sales estimates and also maintained tepid targets for annual sales and profit. Peer General Mills (GIS.N) in September also narrowly topped profit estimates on higher prices, but the Cheerios cereal maker's volumes took a hit as consumers turned cautious. Campbell Soup (CPB.N) forecast an upbeat annual profit as the company bets on easing cost pressures. Conagra reported first-quarter net sales of $2.90 billion, while analysts on average expected $2.95 billion, according to LSEG data.

Persons: Slim Jim, Andrew Kelly, Slim, Conagra, Mills, Campbell, Granth, Sherry Jacob, Phillips Organizations: Conagra Brands, REUTERS, Conagra, Thomson Locations: Manhattan , New York, U.S, Chicago, Bengaluru

☆ Krispy Kreme looks to sell Insomnia Cookies unit
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +1 min

A Krispy Kreme Doughnuts logo is pictured in Burbank, California, U.S., July 1, 2021. Insomnia Cookies, which operates in three countries with over 250 bakeries, is expected to deliver revenues of about $230 million in fiscal year 2023, Krispy Kreme said. For the full year 2022, Krispy Kreme earned a net revenue of $1.53 billion. It was not immediately clear how much stake Krispy Kreme held in Insomnia. Krispy Kreme has hired Evercore and Morgan Stanley to act as financial advisors.

Persons: Mario Anzuoni, Campbell, JM Smucker, Krispy Kreme, Evercore, Morgan Stanley, Granth, Shailesh Organizations: REUTERS, Thomson Locations: Burbank , California, U.S, Bengaluru

[1/2] Hostess Brands "Twinkies" are displayed in a store in the Manhattan borough of New York City, U.S. July 5, 2016. Smucker (SJM.N) said on Monday it will buy Twinkies-maker Hostess Brands (TWNK.O) in a $5.6 billion deal, as major U.S. packaged food companies look to expand their brand portfolios with pandemic-era fortunes dwindling. J. M. Smucker will pay Hostess shareholders $34.25 per share in a cash and stock deal, representing a premium of 54% since the day before the report surfaced. Hostess Brands became an acquisition target after it managed to boost its revenue through price hikes that fueled investor concerns over its prospects with its volume growth consistently declining. Smucker and Hostess deal follows a spree of other deals including that of Campbell Soup's (CPB.N) $2.7 billion deal for Rao's sauce maker Sovos Brands (SOVO.O) and Unilever (ULVR.L) buying premium frozen yogurt brand Yasso in North America.

Persons: Brendan McDermid, Smucker, Campbell Soup's, Hostess, Ding Dongs, Dimpal Gulwani, Ananya Mariam Rajesh, Anirban Sen, Savio D'Souza, Shinjini Organizations: REUTERS, Hostess Brands, Reuters, Hostess, Mills Inc, Mondelez, PepsiCo Inc, Hershey Co, Sovos, Unilever, Hos, Thomson Locations: Manhattan, New York City, U.S, North America, Lenexa , Kansas, Ho, Bengaluru, New York

[1/2] Hostess Brands "Twinkies" are displayed in a store in the Manhattan borough of New York City, U.S. July 5, 2016. Smucker (SJM.N) on Monday agreed to buy Twinkies maker Hostess Brands (TWNK.O) for $5.6 billion including debt in a deal that unites two major American snack makers. The deal was worth about $4.6 billion excluding debt, with Jif peanut butter maker Smucker paying Hostess shareholders $34.25 per share. Campbell Soup's (CPB.N) recent acquisition of Rao's sauce maker Sovos Brands (SOVO.O) represented an adjusted EBITDA multiple of 14.6 times, including run rate savings, and 19.8 times excluding those. Based in Lenexa, Kansas, Hostess was founded in 1930 and is behind several iconic household brands, including Ho-Hos, Ding Dongs, Zingers, and Voortman cookies and wafers.

Persons: Brendan McDermid, Smucker, Campbell Soup's, Smucker's, Campbell, Hostess, Ding Dongs, Dean Metropoulos, Alec Gores, Ananya Mariam Rajesh, Anirban Sen, Abigail Summerville, Dimpal, Savio D'Souza, Shinjini Ganguli, Jason Neely Organizations: REUTERS, Hostess Brands, Reuters, Sovos, JPMorgan, Sovos Brands, Hos, Smucker, Apollo Global Management Inc, Hostess, Thomson Locations: Manhattan, New York City, U.S, North America, Lenexa , Kansas, Ho, Bengaluru, New York

☆ U.S. food companies go deal hunting as pandemic growth fades
▼ + stars: | 2023-09-08 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +3 min

Last month, Campbell Soup (CPB.N) struck a $2.7 billion deal for Rao's sauce maker Sovos Brands (SOVO.O). Reuters GraphicsReuters Graphics Reuters Graphics"Large food companies need to add more new concepts, new flavor profiles and new food items because their old brands - though still growing - are not growing at a meaningful rate," Milani said. Packaged food companies "are now faced with some difficult comparisons on organic (sales) and are seeking some strategic, category-specific M&A targets that will propel them through the next few years," Henry said. "Most of the large cap packaged food companies have ... diligently reduced their debt and improved their balance sheet (through the pandemic)...so they have the risk capacity and risk appetite to pursue large-scale acquisitions," CFRA Research analyst Arun Sundaram said. "These packaged food companies need to continue finding ways to stay relevant ... And so one of the easiest ways to do that is through M&A."

Persons: Brendan McDermid, Campbell, There's, Michael Milani, Baker Tilly, Milani, Kraft Heinz, Sarah Henry, Henry, Mills, Luca Zaramella, Hershey, J.P, Morgan, Arun Sundaram, Deborah Sophia, Arun Koyyur Organizations: Campbell Soup, New York Stock Exchange, REUTERS, Sovos, Unilever, Mars, Reuters Graphics Reuters, Reuters, Logan Capital Management, PepsiCo, Mondelez, Barclays, Hostess Brands, Thomson Locations: New York, U.S, North America, dealmaking, Bengaluru

☆ Stocks making the biggest premarket moves: Dollar General, Salesforce, Palantir and more
▼ + stars: | 2023-08-31 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Check out the companies making the biggest moves before the bell:Dollar General — The discount retailer tumbled 15.3% after reporting second-quarter earnings per share of $2.13, missing the StreetAccount consensus estimate of $2.47. Revenue also missed, coming in at $9.80 billion versus the $9.93 billion expected. Campbell Soup — Shares added about 1% after the company reported revenue of $2.07 billion, beating the $2.06 billion expected from analysts polled by Refinitiv. Second-quarter adjusted earnings per share came in at 31 cents, versus the 22 cents expected from analysts polled by Refinitiv. However, its revenue guidance for the third quarter of $2.74 billion to $2.76 billion fell short of the $2.79 billion expected from analysts, per StreetAccount.

Persons: Campbell, Shopify, Morgan Stanley, Salesforce, Goldman Sachs, Cronos, Tilray, Okta, SkyWest, Raymond James, Refinitiv, —, Jesse Pound, Alex Harring Organizations: Revenue, Refinitiv, UBS — U.S, UBS, Cronos, Tilray, U.S . Department of Health, Human Services, Arista Networks, Citi, Arista, postmarket Locations: Austin , Texas, Swiss

☆ Morning Bid: Rates dice, AI arms race and G20 snub
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +5 min

AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration taken, June 23, 2023. Even if that came in slightly above forecasts, an unexpectedly sharp slowdown in the country's service sector ensured another underwhelming reaction. Chinese President Xi Jinping is likely to skip a summit of G20 leaders in India, sources told Reuters. Overall, Asia markets were flat to negative - Europe's bourses were higher and U.S. futures held steady ahead of Thursday's open. Reuters GraphicsReuters GraphicsReuters GraphicsReuters GraphicsBy Mike Dolan, editing by David Evans, <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>.

Persons: Dado Ruvic, Mike Dolan, chatbots, Xi Jinping, Premier Li Qiang, Susan Collins, Raphael Bostic, Luis de Guindos, Campbell, David Evans Organizations: REUTERS, Federal Reserve, Baidu, HK, Washington, Reuters, Premier, U.S, Treasury, UBS, Chicago, Boston Federal, Atlanta Fed, European Central Bank, Broadcom, Dollar, Hormel, Reuters Graphics Reuters, Thomson Locations: U.S, Beijing, India, New Delhi, Asia

☆ Campbell Soup CEO on earnings: Believe in momentum building throughout 2023
▼ + stars: | 2023-08-31 | 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 EmailCampbell Soup CEO on earnings: Believe in momentum building throughout 2023Mark Clouse, Campbell Soup CEO, joins 'Squawk on the Street' to discuss the company's quarterly earnings results, the company's ability to raise prices, and insights into the company's soup portfolio and gaining market share.

Persons: Campbell, Mark Clouse Organizations: Campbell Soup

☆ Three-Stock Lunch: Salesforce, Campbell Soup and Cummins
▼ + stars: | 2023-08-31 | by ( ) 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 EmailThree-Stock Lunch: Salesforce, Campbell Soup and CumminsVictoria Greene, founder and CIO at G Squared Private Wealth, joins 'Power Lunch' to discuss three stocks: Salesforce, Campbell Soup and Cummins.

Persons: Campbell Soup, Cummins Victoria Greene, Cummins Organizations: G Squared, Wealth

☆ Watch CNBC's full interview with Campbell Soup CEO Mark Clouse on $2.7 billion deal for Rao's
▼ + stars: | 2023-08-31 | 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 Campbell Soup CEO Mark Clouse on $2.7 billion deal for Rao'sMark Clouse, Campbell Soup CEO, joins 'Squawk on the Street' to discuss the company's quarterly earnings results, the company's ability to raise prices, and insights into the company's soup portfolio and gaining market share.

Persons: Campbell, Mark Clouse Organizations: Campbell Soup

☆ Morning Bid: Markets brace for EU, US inflation data blitz
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 30, 2023. REUTERS/Staff/File Photo Acquire Licensing RightsA look at the day ahead in European and global markets from Brigid RileyA slew of economic data is set to roll out on Thursday, including preliminary euro zone CPI numbers and U.S. personal consumption data, with markets hankering for further inflation relief as central bank policy meetings march closer into view. The pan-European STOXX 600 index (.STOXX) closed lower and the euro jumped in the aftermath of the data, with markets now bracing for the last day of a gloomy August. Expectations are still hovering around a 50-50 chance of another ECB hike, with the focus on preliminary euro zone CPI data due later in the day. Meanwhile, Chinese stocks were looking glum again in the Asian morning after an official factory survey showed manufacturing activity slowed for a fifth month straight.

Persons: Brigid Riley, Collins, Lululemon, Pernod Richard, Edmund Klamann Organizations: REUTERS, Staff, European Central Bank, Reuters Graphics, Federal Reserve, UBS, Credit Suisse, Credit Suisse AG, PCE, Dollar, Corp, Broadcom Inc, Thomson Locations: Frankfurt, Germany, Spain, France, U.S, Italy, Switzerland, Central

☆ Here are 2 major themes to watch in the week ahead after Friday's market rally
▼ + stars: | 2023-08-26 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

As August is known to be, it's been a rough month-to-date for all three of those stock market benchmarks so far. This past week, the overall market was oversold, according to Jim Cramer's trusted S & P Oscillator. After Friday's strong finish, we'll see if the market's oversold condition abates as two major themes play out in the week ahead: Earnings from two Club names — Salesforce (CRM) and Broadcom (AVGO) — and key economic reports ahead of September's Fed meeting. Outside of the labor market and inflation, we'll also get a look at the housing market with the pending home sales on Wednesday. As we heard from fellow Club name Palo Alto Networks (PANW) last week, companies are growing more cautious and more closely scrutinizing large sales deals.

Persons: Jerome Powell's, Powell, it's, Jim Cramer's, Friday's, —, It's, we've, we'll, we're, Salesforce, AVGO, We're, Brown, Forman, Campbell Soup, LULU, Jim Cramer, Jim, Angela Weiss Organizations: Nasdaq, Federal, Nvidia, Dow Jones, Broadcom, Fed, Labor, Club, Palo Alto Networks, VMWare, HEICO Corporation, Bank of Montreal, BMO, Bank of Nova, Hewlett Packard Enterprise, HP, PVH Corp, Patterson Companies, Veeva Systems, UBS, Academy Sports, Hormel, Signet Jewelers, Dell Technologies, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: Jackson Hole , Wyoming, China, Bank of Nova Scotia, New York City

☆ Stocks are heading for a down August as market kicks off September with jobs report
▼ + stars: | 2023-08-25 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Regardless, the major averages are set to close a losing month as higher yields and Fitch downgrades weighed on equities this month. "Further cooling in the labor market and the services sector," said Brian Ellis, portfolio manager at Morgan Stanley Investment Management. The labor report will be preceded by the July personal consumption expenditures, or PCE, report on Thursday. In fact, many investors expect that the Federal Reserve is probably done hiking rates here as policymakers await the effects of higher rates on the real economy. Increasingly, investors are looking for opportunities in income as they deal with the possibility of higher rates for longer.

Persons: Jerome Powell, Jackson, Jay Hatfield, Fitch downgrades, nonfarm, Brian Ellis, Powell, Morgan, Ellis, Ben Kirby, that's, Thornburg's Kirby, Campbell Organizations: Federal, Nvidia, Nasdaq, Dow Jones, Capital Management, Dow Jones Industrial, FactSet, Morgan Stanley Investment Management, Federal Reserve, Thornburg Investment Management, Labor, Investors, Dallas Fed, Hewlett Packard Enterprise, HP, ADP, Costco, PCE, PCE Deflator, Chicago PMI, Dollar, Broadcom, Jobs, PMI, Manufacturing Locations: , Wyoming, U.S, cautiousness, Smucker, Chicago

☆ Cramer says AI hype is hurting this group of stocks that should benefit from recession worries
▼ + stars: | 2023-08-22 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +2 min

The hype around artificial intelligence has crushed investor appetite for so-called recession stocks like Campbell Soup (CPB), CNBC's Jim Cramer said Tuesday. The broad-based S&P 500 index, for comparison, has climbed almost 15% in 2023, driven in large part by tech stocks. Cramer's Charitable Trust, the portfolio used for the CNBC Investing Club, owns six of the Magnificent Seven stocks. In addition Nvidia, Meta and Microsoft, the list includes Apple (AAPL), Alphabet (GOOGL) and Amazon (AMZN). "They just want AI and Magnificent Seven."

Persons: Campbell, CNBC's Jim Cramer, Cramer, Jim Cramer's Organizations: Nvidia, Microsoft, Consumer, Charitable Trust, CNBC, Club, Meta, Apple, Adobe, Marvell Technology, Broadcom

☆ Kraft Heinz picks new CEO as sales slump in the face of higher prices
▼ + stars: | 2023-08-14 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Kraft Heinz 's North American president will become CEO of the food giant next year, the company announced Monday. Carlos Abrams-Rivera will take the reins Jan. 1 from Miguel Patricio, who has led Kraft Heinz since 2019. Kraft Heinz shares have fallen 15% this year, dragging its market value down to $42.2 billion. "Since joining Kraft Heinz in 2020, [Carlos] has consistently delivered strong results in the North American retail and Away From Home businesses," Patricio said in a statement. Ahead of the CEO transition Jan. 1, Abrams-Rivera will become president of Kraft Heinz, adding new responsibilities to his current role.

Persons: Kraft Heinz, Carlos Abrams, Rivera, Miguel Patricio, Patricio, Oscar Mayer, Maxwell, Abrams, Campbell, Carlos Organizations: Kraft, Cream, North Locations: California

☆ People online are losing it over Campbell changing the recipe for Rao's pasta sauces after a buyout. The backlash even forced Campbell CEO to say they won't 'touch the sauce.'
▼ + stars: | 2023-08-11 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Campbell Soup is acquiring the parent company of Rao's pasta sauce for $2.7 billion. Fans of the product are going on social media to mourn the end of Rao's saucy goodness. The social media backlash has driven the company's CEO to say they won't "touch the sauce." But within hours of the announcement on Tuesday, social media was rife with fans concerned about the fate of their beloved sauce. "I appreciate all the encouragement on social media, but we are not going to change it," he said, referring to the pasta sauce.

Persons: Campbell, it's, Mark Clouse, Campbell Soup, Clouse, Frank Pellegrino Sr, Campbell's, Sovos Organizations: Service, Twitter, Yahoo Finance, New, Sovos Locations: Wall, Silicon, New Yorks, American

☆ How Rao's pasta sauces went from the kitchen of New York's most exclusive Italian restaurant to be sold to Campbell's in a $2.7 billion deal
▼ + stars: | 2023-08-08 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Specialty foods company Sovos bought the brand in 2017 and grew sales to more than $600 million. Bobby Bank/WireImageSales grew slowly until 2017 when specialty foods company Sovos Brands bought the Rao's Homemade packaged foods division and turned up the proverbial heat. Hermida added that sauce makes up more than 80% of Sovos' business, and that one in eight US households buy Rao's Homemade sauce. Sovos reported Rao's brand sales of $580 million in 2022, largely through Costco and Walmart, and sales have already climbed more than 33% in 2023. On Monday, Sovos announced a $2.7 billion deal with Campbell Soup in which the packaged foods giant would acquire the group, including Rao's Homemade.

Persons: Sovos, Campbell Soup, Frank Pellegrino Sr, Frank Pellegrino, Dino Gatto, Yuri Hermida, Forbes, Hermida, Campbell Organizations: Service, Bobby Bank, WireImage, Sovos Brands, Costco, Walmart Locations: Wall, Silicon, East Harlem, New York, Las Vegas, Los Angeles, Rao's

☆ Campbell Soup Company buys Sovos Brands, maker of Rao’s for $2.7 billion
▼ + stars: | 2023-08-07 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

New York CNN —Iconic canned soup company Campbell is expanding its reach in the Italian food market. Campbell (CPB) announced Monday that it would acquire Sovos Brands, maker of the popular Italian food brands like Rao’s sauces and Michael Angelo’s frozen entrees, as well as noosa yogurt, in a deal worth $2.7 billion. But Campbell said Rao’s sauces attract a different consumer set than Prego’s. “Rao’s is the premium, market-leading sauce and it strengthens and diversifies our Meals & Beverages portfolio, complementing the core, mainstream portfolio,” the company told CNN. Sovos Brands founder and head Todd Lachman called the acquisition a “momentous occasion.”“We have built a one-of-a-kind, high growth food company focused on taste-led products across a portfolio of premium brands, anchored by the Rao’s brand,” he said in a statement included in Campbell’s news release.

Persons: Campbell, Angelo’s, “ We’re, ”, Mark Clouse, Rao’s, Michael Angelo’s, Todd Lachman Organizations: New, New York CNN, Campbell, Sovos Brands, Beverages, CNN, “ Locations: New York, noosa, “ noosa

☆ Three-Stock Lunch: Tyson Foods, Campbell Soup and DaVita
▼ + stars: | 2023-08-07 | by ( ) 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 EmailThree-Stock Lunch: Tyson Foods, Campbell Soup and DaVitaEva Ados, Eshares COO, joins ‘Power Lunch’ to discuss three stocks: Tyson Foods, Campbell Soup and DaVita.

Persons: Tyson, Campbell, DaVita Eva Ados Organizations: Tyson Foods

☆ Stocks making the biggest moves midday: Tesla, Berkshire Hathaway, PayPal, Cinemark and more
▼ + stars: | 2023-08-07 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

The company earned €168 million in revenue, while analysts polled by Refinitiv expected €672 million. The company reported adjusted net income and revenue that beat expectations for the second quarter. Viatris reported revenue of $3.92 billion, while analysts polled by StreetAccount called for $3.86 billion. PayPal – PayPal stock climbed 2% after launching its first stablecoin, PayPal USD, backed by the U.S. dollar on Monday. Analysts polled by FactSet are forecasting an adjusted 5 cents per share on $534.2 million in sales.

Persons: Tesla, Zach Kirkhorn, Vaibhav Taneja, Taneja, BioNTech, Refinitiv, Tyson, Berkshire Hathaway, Warren, StreetAccount, Andrew Mok, Sovos, Campbell, Sovos Brands, Campbell Soup, Morgan Stanley, Benjamin Swinburne, Oppenheimer, Yun Li, Alex Harring, Samantha Subin Organizations: Refinitiv, Berkshire, Warren, UBS, Sovos, PayPal, U.S, FactSet Locations: Gruenheide, Germany, BioNTech –, stablecoins, U.S

☆ Stocks making the biggest moves premarket: Sovos Brands, BioNTech, Tyson Foods and more
▼ + stars: | 2023-08-07 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Tyson Foods — Shares of the food processing company fell more than 7% after Tyson's fiscal third-quarter report missed estimates on the top and bottom lines. Tyson generated 15 cents in adjusted earnings per share on $13.14 billion of revenue. Analysts surveyed by Refinitiv were expecting 26 cents per share on $13.59 billion of revenue. Sovos Brands — Shares of Rao's parent Sovos Brands' popped 25% in premarket trading after food giant Campbell Soup said Monday it would acquire the pasta sauce maker for $2.33 billion. Campbell will pay $23 per share for the company, which is 27.6% higher than the Sovos Brands' last closing price.

Persons: Tyson, Refinitiv, DaVita, Campbell Soup, Campbell, Wells, Warren Buffett's, BioNTech, it's, Nikola —, Viatris, —, Fred Imbert, Samantha Subin, Yun Li, Tanaya Macheel, Jesse Pound Organizations: UBS, Brands, Campbell Soup, Berkshire Hathaway —, KKR —, KKR Locations: Covid

☆ Campbell to buy Rao's premium sauces maker Sovos for $2.33 bln
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File PhotoAug 7 (Reuters) - U.S. packaged food maker Campbell Soup (CPB.N) will buy Michael Angelo's and Rao's owner Sovos Brands (SOVO.O) for $2.33 billion in cash, the company said on Monday, beefing up its meals and beverages business with the maker of premium Italian sauces. Campbell will pay $23 per share for Sovos, a nearly 28% premium to the stock's last close. Sovos' shares were trading at $22.48 while Campbell slipped 1.2% to $44.58 in early trade. Last month, Unilever (ULVR.L) said it would buy frozen yogurt brand Yasso in North America while Mars Inc agreed to buy Kevin's Natural Foods. In May, Campbell Soup sold Emerald Nuts to Flagstone Foods for an undisclosed amount.

Persons: Brendan McDermid, Campbell, Michael Angelo's, beefing, Sovos, Campbell Soup, Arun Sundaram, Savyata Mishra, Savio D'Souza, Shweta Agarwal, Sriraj Organizations: REUTERS, Sovos Brands, Unilever, Mars Inc, Flagstone Foods, CFRA, Thomson Locations: New York City, U.S, North America, Canada, Bengaluru

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