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Walgreens also reported adjusted earnings per share for its fiscal third quarter of $1, missing a Refinitiv forecast of $1.07. Roblox — The gaming platform popped 5.8% after Bank of America reiterated its buy rating, saying the stock is a leader in the Metaverse category. Meta Platforms — The big technology stock added 2% after Citi reiterated its buy rating. Frontier Communications — Shares rose 4.1% on the back of Wolfe Research initiating coverage of the stock at outperform. Saia — The transportation stock rose 6.7% on the back of Evercore ISI upgrade to outperform from in line.
Persons: Steve Burns, Lordstown, Generac, Aaron Jadgfeld, Kellogg — Kellogg, Goldman Sachs, Oppenheimer, Wolfe, Wells, Wells Fargo, Saia, Northcoast, Cars.com, Jesse Pound, Michelle Fox Organizations: Lordstown Motors Corp, Lordstown Motors, Walgreens, Delta Air Lines, Equity Investment, Bloomberg News, Investment, Royal, Bank of America, Citi, Nike, Frontier Communications, Wolfe Research, Energy, JPMorgan, Unity Software, ISI Locations: Lordstown , Ohio, U.S, Brookfield, Royal Caribbean, Texas
Bank of America reiterates Roblox as buy Bank of America said Roblox is the "Metaverse" category leader. Bank of America reiterates Disney as buy Bank of America said it's standing by its buy rating on the stock. Bernstein reiterates Tesla as underperform Bernstein said it's not very optimistic that Tesla's entry into EV charging will help the company's margins. Bernstein downgrades Alibaba to market perform from outperform Bernstein said the set-up looks too challenging right now for Alibaba. Bank of America reiterates Analog Devices as buy Bank of America said the stock has "best-in-class free-cash flow generation and returns."
Persons: it's bullish, Roblox, Goldman Sachs, Kellogg, Goldman, Oppenheimer, Bernstein, Tesla, underperform Bernstein, it's, Wolfe, Alibaba, Wells, Evercore, Eli Lilly, Lilly incretin, Alex Kaleida, JPMorgan, Jefferies, Roper Organizations: Citi, Meta, Cannes, Lions, Bank of America, Nike, Disney, EV, Frontier Communications, JPMorgan, Micron, Unity, Software, Industry TAM —, Barclays Locations: NKE, China, Dallas
Kellogg will shine in an increasingly tough environment for the food industry, according to Goldman Sachs. The bank upgraded Kellogg to buy and raised its price target to $83 from $78. English also noted that Kellogg is woefully undervalued compared with the growth opportunity the stock presents investors, despite concerns over the company's planned split. Kellogg stock has slumped nearly 8% from the start of the year. K YTD mountain Kellogg stock has pulled back more than 7% in 2023.
Persons: Kellogg, Goldman Sachs, Jason English, — CNBC's Michael Bloom Organizations: Kellogg Locations: Monday's
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
[1/2] A sign reading "Low prices for you" is seen on a shopping trolley in a supermarket in Nice, France, March 1, 2023. REUTERS/Eric Gaillard/File PhotoLONDON/PARIS, June 23 (Reuters) - Danone (DANO.PA) and Kellogg (K.N) are among 75 consumer goods companies that French authorities have asked to cut prices, according to a list seen by Reuters that sources say the government is using for the initiative. The French government is using the list seen by Reuters, produced by a research group, as a reference for the project, according to three sources with knowledge of the matter. Some consumer goods makers have said recently that costs are starting to ease, leading lawmakers and regulators to accuse companies of keeping prices high unnecessarily. Investors have in recent months warned that consumer goods companies should start easing price increases as supply chain costs decline, worried that further hikes could hit market share and margin growth.
Persons: Eric Gaillard, Bruno Le Maire, Knorr, Avril, Pernod Ricard, Kellogg, Richa Naidu, Matt Scuffham, Jan Harvey Organizations: REUTERS, Danone, Kellogg, Finance, Reuters, Unilever, Nestle, ABI, Thomson Locations: Nice, France, PARIS, Ukraine
Bank of America upgrades XP to buy from neutral Bank of America said the Brazilian investment company's shares will re-rate higher. JPMorgan reiterates Amazon as overweight JPMorgan reiterated the stock as a top idea and said it sees a runway for more growth for Amazon Prime. " Deutsche Bank adds a catalyst call buy on Walgreens Deutsche says it's bullish heading into earnings next week. Bank of America reiterates Eli Lilly as buy Bank of America said the biopharma company is still one of the firm's favorite ideas. Bank of America reiterates Broadcom as buy Bank of America raised its price target on AI beneficiary Broadcom to $1,050 per share from $950.
Persons: Fargo, Goldman Sachs, Wells, Bud, Bud Light, Bernstein, Kellogg, underperform Bernstein, Morgan Stanley downgrades Tesla, Morgan Stanley, Tesla, " Bank of America downgrades Dow, DOW, it's, Riley, Expedia, TripAdvisor, Eli Lilly, Lilly, Raymond James, Alcoa, Piper Sandler, Piper Organizations: Bank of America, of America, Deutsche Bank, Anheuser Busch InBev, Deutsche, Nielsen, JPMorgan, Amazon Prime, Kellogg, " Bank of America, Walgreens Deutsche, Microsoft, Apple, Developers, Broadcom, Alcoa, Citi, Boston Scientific Citi, PFA, Card Locations: Brazil
Neptune Retail to buy Coupons.com-parent for $430 mln
  + stars: | 2023-06-20 | by ( ) www.reuters.com   time to read: +1 min
June 20 (Reuters) - Retail marketing firm Neptune Retail Solutions will acquire Coupons.com-parent Quotient Technology (QUOT.N) for $430 million in cash, the companies said on Tuesday. Quotient's shares jumped about 17% in the early session and were trading 9 cents shy of the $4 offer price. Its clients include some of the world's biggest consumer companies such as Kellogg's (K.N) and Coca-Cola (KO.N). Private investment firm Charlesbank Capital Partners, which is a major shareholder of Neptune, will be the majority investor in the combined company. Houlihan Lokey is serving as a financial adviser to Quotient, while PJT Partners is advising Neptune.
Persons: Quotient's, William Redmond, Houlihan Lokey, Samrhitha, Anil D'Silva Organizations: Retail, Neptune Retail, Reuters, Charlesbank Capital Partners, PJT Partners, Neptune, Thomson Locations: U.S, Bengaluru
UK supermarket Asda freezes prices of 500 products
  + stars: | 2023-06-13 | by ( James Davey | ) www.reuters.com   time to read: +2 min
Prime Minister Rishi Sunak has set a 2023 target to halve overall inflation but the goal has been undermined as inflation has remained stubbornly high, particularly food inflation. Overall UK consumer price inflation ran at 8.7% in April, the most recent official data showed, while food and drink inflation was 19.1%, just below a 46-year high. Food retailers have said they expect prices to rise in 2023 overall but with the rate of inflation declining through the year. Last week the French government secured a pledge from 75 top food companies to cut prices on hundreds of products. Last month, British finance minister Jeremy Hunt met food manufacturers to raise concerns about the surge in food prices, but no formal price controls were proposed.
Persons: cornflakes, Rishi Sunak, Clive Black, Jeremy Hunt, Kantar, James Davey, Sarah Young, Mark Potter Organizations: Grocers, Asda, Tesco, Foods, Waitrose, Shore Capital, Thomson
That year, the stock market was making headlines due to investors' excitement about internet companies. He wanted to bet on the stock market with his Bar Mitzvah money of roughly $12,000. At the time, there was no pattern day trading rule, which meant he didn't need a minimum of $25,000 to day trade. "My best-performing strategy right now is over the weekend because the stock market is closed over the weekend. The uneasiness that comes with having an income pegged to the stock market never goes away.
Persons: Timothy Sykes, Sykes, Norman Zadeh, Jack Kellogg, Kyle Williams, it's, Roe, Wade Organizations: United States, Evofem Biosciences, Tesoro Enterprises, Stocks, Cilantro, Partners, Wall Street Warriors Locations: Illinois
Recent data shows that China is also contending with worse-than-expected consumer spending, slowing manufacturing and weak home sales. What it means for markets: US-based companies doing business in China stand to lose if the economy continues on a downward trajectory. Qualcomm (QCOM), with a 67% exposure rate to China, issued disappointing forward guidance during earnings last month, citing China’s slow recovery. JD.com (JD), one of the largest Chinese companies trading in the United States, has fallen by nearly 36% this year. The air purifier market is poised to grow as climate change increases air pollution and exacerbates breathing difficulties.
Persons: That’s, China —, Capvision, China Nicholas Burns, , Goldman Sachs, Dow, JD.com, Morgan Stanley, Goldman, Ayaz Ebrahim, CARR, Johnson, Ivan Menezes, Diageo, Menezes ’, Menezes, King Charles III, Debra Crew, Johnnie Walker, Ivan, Javier Ferrán, “ Ivan Organizations: CNN Business, Bell, New York CNN, International Monetary Fund, Factories, Bain, Group, Micron Technology, Nasdaq, Apple, Intel, Starbucks, Nike, Bank of America, Las, Qualcomm, Nvidia, Wynn Resorts, WYNN, MGM Resorts, MGM, China . Companies, Dragon, Goldman Sachs Group, Nomura, Barclays, JPMorgan, Asia Pacific, Bloomberg, Google, Carrier Global, Johnson Controls, Economic Co, Diageo, India, Business, , Whisky Association, Northwestern University’s Kellogg School of Management Locations: New York, China, Washington, Beijing, United States, Hong Kong, Dragon China, Canada, Pune, India
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
Apple Vision Pro. Apple's Vision Pro looks amazing, but why buy it? The Vision Pro also comes with a host of caveats beyond the price tag, such as a battery life of just two hours. Read more about the Apple Vision Pro's limits here. He said AI companies should be able to build fast and aggressively — and without regulation.
Persons: Nathan Rennolds, let's, Tony Fadell, Apple, Salesforce's Marc Benioff, Justin Sullivan, Marc Benioff, Marc Andreessen, Travis Kalanick's, Adam Beswick, he's, grads, Z, Leigh Thompson, Jack Sommers Organizations: Apple Vision, Apple, Companies, Meta, Sony, Getty, Salesforce, Amazon, Oracle, Big Tech, CloudKitchens, Stanford, UCLA, USC, Sequoia Capital, Kellogg School of Management, Northwestern University Locations: London
New York CNN —The past few months of robust grocery store sales would suggest that shoppers aren’t stretched for cash. Fresh eggs shot up 48.2%, milk rose 5%, bread rose 12.7% and fresh root vegetables went up 14.7. The following month, grocery prices continued to fall. But food inflation is still outpacing inflation overall, and grocery prices are still quite a bit higher than they were last year. We are still seeing prices, month over month, they’re still going up — although much less than they were.”— CNN’s Nathaniel Meyersohn contributed to this report.
Persons: that’s, , Alastair Steel, Spencer Platt, they’ve, Steel, “ we’ve, Richard Galanti, Jeff Gennette, , Brandon Bell, Jeff Owen, Ramon Laguarta, it’s, they’re, , Nathaniel Meyersohn Organizations: New, New York CNN, Kellogg, PepsiCo, Getty, Steel, Costco, Aldi, , Dollar, Assistance, SNAP, Consumers, Bureau of Labor Statistics, BLS Locations: New York
How virtual communication differs from face-to-faceSo, how can we build our VCQ? However, there is a profound, yet rarely acknowledged difference between in-vivo and virtual communication: namely shared mutual gaze, which occurs when two people lock eyes. That's partly because mutual gaze produces an immediate release of oxytocin, the bonding hormone. However, volleying offers back and forth at the virtual negotiation table can lead to transactional interaction. For this reason, negotiators should work to bring their best virtual self to the negotiation table by following the research-backed best practices here.
Persons: Leigh Thompson, Thompson, , Chris, It's, we've, I've, volleying Organizations: Kellogg School of Management, Northwestern University, Service, Communication Intelligence
New York CNN —During every Pride Month in June for the past decade, Target has sold merchandise for LGBTQ customers, employees and allies. But this year, Target faced an anti-LGBTQ campaign that went viral on social media. Fueled by far-right personalities and on social media platforms, the anti-trans campaign spread misleading information about the company’s Pride Month products and its business practices. It won’t be worth whatever they think they’ll gain.”The campaign became hostile, with threats levied against Target employees and instances of damaged products and displays in stores. Meeting demandTarget became the focus of the anti-LGBTQ campaign’s ire for its Pride Month merchandise, but the campaign misrepresented Target’s ambitions.
Persons: , Matt Walsh, Kelley Robinson, Bud Light, Yoram, “ It’s, Brian Cornell, Fortune, Erik Carnell, ” Target, Gavin Newsom, Sarah Kate Ellis, Tim Calkins, Ron DeSantis, , Paul Argenti Organizations: New, New York CNN, Target, Twitter, Human Rights, Pride, University of Pennsylvania’s Wharton School, Gallup, , Wall Street Journal, GLAAD, Northwestern University’s Kellogg School of Management, Companies, Nike, Disney, Florida Gov, Los Angeles Dodgers, Dodger, Dartmouth University’s Tuck School of Business Locations: New York, California, statehouses
Customers patronize an open Panera Bread location in the Walt Whitman Mall on March 26, 2020 in Huntington Station, New York. JAB Holding, the investment arm of the Reimann family, bought Panera Bread in 2017 for $7.5 billion, taking it private. In the press release, Panera Brands said the leadership changes are "in preparation for its eventual IPO." Panera Bread, the largest chain in the portfolio, has long been known as a technology leader in the restaurant industry. Panera Bread has also been testing A.I.
A fund of funds investing to make venture capital more equitable just closed its second fund. Oakland-based Illumen Capital secured $168 million to back people of color and women. An impact fund of funds tackling racial and gender bias in asset management has just closed its second $168 million fund with the Ford Foundation and W.K. As a fund of funds, Illumen Capital hopes to solve this by addressing implicit biases. When looking at the data, Illumen Capital found that they had the same revenue marks as white entrepreneurs not considered too early.
Using this insight, the researchers are able to successfully predict an individual's long-term success with just a small amount of information about that person's initial attempts. Indeed, in another recent study, Wang himself found that an early career setback often set up scientists for later success. In all three datasets, an individual's second-to-last attempt did tend have a higher probability of success than their very first effort. Rather, there's a singular learning threshold that separates eventual successes from the rest. "Thomas Edison said, 'people give up because they don't know how close they are to success,'" Wang explains.
You may begin to question your team members and double-check their work as if it were your own. Let go of being a heroThe responsibility of senior leaders in any organization is to focus on the bigger picture and not be mired in tactical processes. "When you're in a position of authority, it's your responsibility to extend trust to the individuals on your team," Maddox says. This can mean relinquishing authority to provide team members autonomy to make decisions and learn. To do this, you need "multiple sensors" or viewpoints from your team members to get the full picture.
That allowed them to track how breakthrough technologies impacted the exposure of workers in relevant occupations over time. Based on U.S. Census surveys from 1910 to 2010, the team found that an increase in technology exposure was linked to a decline in employment. These employees saw their wages slow down by more than twice as much as average workers in the same occupation with the same level of technology exposure. Even when their technology exposure did go up, their income didn't slow down as much as it did in other types of occupations. "Not all technology is bad for workers," Seegmiller says.
Clinical professor Brooke Vuckovic shared how to give negative feedback at work. Whatever the problem, their performance is not up to par—which means it's time for a tough conversation. So as you prepare for a tough conversation about your employee's performance—and prepare you must—what should you keep in mind? Commit to listening well and staying attunedIn the drive to plow through to the end of the conversation, leaders too often fail to think through the skills required to foster a productive discussion. But even if the conversation is going quite smoothly, it is important to wrap up in a way that feels complete.
During the period, while U.S. inflation averaged 7.5% Walmart kept prices steady, the Dataweave analysis shows. Reuters Graphics Reuters GraphicsThis was during a time when world food prices hit record highs and U.S. food-at-home prices rose in the double digits. Food-at-home prices, or prices of food bought at grocery stores and supermarkets, are expected to rise a further 6.6% this year, according to the U.S. Department of Agriculture. The data set, which included batteries in the basket of goods, showed that Walmart sold Energizer batteries at a significant discount to rivals. Similarly, at least two different types of Energizer coin batteries sold at Walmart were found to be between 30% and 35% cheaper than the next lowest priced rival.
Morgan Stanley reiterates Apple as overweight Morgan Stanley said Apple is "delivering under pressure" after its earnings report on Thursday. Guggenheim upgrades Portillo's to buy from neutral Guggenheim said it sees multiple expansion for the restaurant chain. Goldman Sachs downgrades Atlassian to neutral from buy Goldman said the company's "cloud transition [is] likely taking longer than expected." UBS upgrades Shopify to neutral from sell UBS said in its upgrade of Shopify that it sees revenue upside. Jefferies initiates Playboy Group as buy Jefferies said it sees "significant upside" for the adult themed global media and lifestyle company.
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