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☆ Branding’s corporate titans face moment of truth
▼ + stars: | 2023-11-22 | by ( Aimee Donnellan | ) www.reuters.com time to read: +8 min

Now for the first time this century, sales volumes at the big consumer goods manufacturers are falling. In the first nine months of the year, Kraft Heinz said the quantity of its sold items declined by nearly 6 percentage points year-on-year. That’s likely to allow Nestlé, Kraft Heinz and Unilever to see flat or modest increases in 2023 sales, LSEG data shows. Earlier this year, outgoing Kraft Heinz Chief Executive Miguel Patricio said the company lost market share to a branded competitor that spent more. Unilever, Nestlé and Kraft Heinz have all pointed to a slowing of price growth in the coming year.

Persons: Kraft Heinz, Nestlé, ’, Xavier Roger, Kraft, what’s, John Furner, Miguel Patricio, Mars, ”, François, EY, George Hay, Streisand Neto, Thomas Shum Organizations: Reuters, Consumer, Kraft, Unilever, Danone, ’, United Nations, Reuters Graphics Reuters, Nestlé, Kraft Heinz, Target, Reuters Graphics, Obesity, Mondelez, Walmart, “, Thomson Locations: U.S, Europe, Australia, Norway, Chocolat, London

INDIANAPOLIS (AP) — An Illinois jury ruled this week that several major egg producers conspired to limit the U.S.'s supply of eggs in order to raise prices in a lawsuit first filed 12 years ago. The suppliers include the family company of an Indiana egg farmer running for the U.S. Senate in the state. Attorneys for the four egg suppliers named in the lawsuit did not immediately return phone messages on Wednesday. Other food manufacturers joining as plaintiffs in the lawsuit against the egg producers are General Mills, Inc. and Nestle USA, Inc. The jury found the egg suppliers who participated in the conspiracy were Cal-Maine Foods, Inc., United Egg Producers, Inc., United States Egg Marketers, Inc. and Rose Acre Farms, Inc., a southern Indiana-based company previously chaired by John Rust.

Persons: ” Brandon Fox, Mills, John Rust, Rust, Acre, Jim Banks, Donald Trump, Republican Mike Braun, “, John Rust isn’t, ” Banks Organizations: INDIANAPOLIS, Kraft Foods Global, Inc, Kellogg Company, Northern District of, U.S . Senate, Maine Foods, United Egg Producers, United States, Nestle USA, United, United States Egg, Indiana’s U.S, Senate, Indiana’s, State, Republican, GOP, U.S, Rep, Indiana Republican Party Locations: An Illinois, Northern District, Northern District of Illinois, Indiana, Cal, United States, Acre, U.S, While Indiana

☆ Warren Buffett is piling up cash because he sees a storm brewing and can't find bargains, wealth manager says
▼ + stars: | 2023-11-17 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett's Berkshire Hathaway held a record $157 billion of liquid assets at the last count. Berkshire is betting on growth and value with Apple and Bank of America, the wealth manager says. AdvertisementWarren Buffett's stack of cash is bigger than ever because he spies problems on the horizon and he's struggling to find bargains, one wealth manager says. Buffett's Berkshire Hathaway held a record $157 billion in liquid assets like dollars and Treasury bills on September 30. AdvertisementMunson said that Berkshire is essentially pursuing a barbell strategy of owning both growth and value stocks.

Persons: Warren, Berkshire Hathaway, Lee Munson, —, Buffett, He's, Kraft Heinz, he's, Munson Organizations: Berkshire, Apple, Bank of America, Service, Wealth, Yahoo Finance, Chevron, Big Tech Locations: Berkshire, Japan

☆ Mars is buying Britain’s Hotel Chocolat in £534 million deal
▼ + stars: | 2023-11-16 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Mars is buying Hotel Chocolat in a deal that values Britain’s largest independent chocolate maker at £534 million ($661 million) and could boost its growth prospects outside of the United Kingdom. Hotel Chocolat was founded in 1993 by entrepreneurs Angus Thirlwell and Peter Harris who “were on a mission to make chocolate exciting again,” according to its website. In the most recent financial year, Hotel Chocolat posted what it described as “disappointing” financial results. The company’s revenue declined 10% to £205 million ($254 million) and it reported a loss of £6.2 million ($7.7 million). “Hotel Chocolat, whilst expensive, is proper chocolate.

Persons: London CNN —, Jonathan De Mello, Angus Thirlwell, Peter Harris, “, Chocolat, Thirlwell, ”, Kraft, ” Susannah Streeter, Hargreaves Lansdown, Mars Organizations: London CNN, United Kingdom ., Chocolat’s, JDM Retail, Twitter, Kraft Foods, Mondelez, Mars, Hargreaves Locations: United Kingdom, Chocolat, London, Japan, Caribbean, American, Birmingham

☆ Warren Buffett’s Berkshire trimming holdings, keeping new stock secret
▼ + stars: | 2023-11-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway sold a number of stocks last quarter during the volatile market, according to a new regulatory filing. The Omaha-based conglomerate dumped its remaining $780 million stake in General Motors , a stock Berkshire has been trimming for a few quarters. Berkshire also sold its $650 million stake in materials company Celanese , while exiting smaller positions in United Parcel Service , Johnson & Johnson , Mondelez International and Procter & Gamble. These holdings were still worth more than $1 billion each at the end of September, however. Berkshire has also asked the SEC to keep the details of one or more of its stock holdings confidential.

Persons: Warren, Berkshire Hathaway, Johnson, Todd Combs, Ted Weschler, Apple, Kraft Heinz, Moody's, Buffett Organizations: General Motors, United Parcel Service, Johnson, Mondelez International, Procter, Gamble, HP, Chevron, Berkshire, Bank of America, American Express, SEC Locations: Omaha, Berkshire

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Apple, Disney, Microsoft, AMD, Amazon, Adobe & more
▼ + stars: | 2023-11-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley downgrades Freyr Battery to equal weight from overweight Morgan Stanley said the battery maker faces "significant challenges." Barclays upgrades Fortrea to overweight from equal weight Barclays said in its upgrade of the health contract research company that it sees improved bookings. Barclays upgrades Mosaic and Nutrien to overweight from underweight Barclays upgraded several potash and aggriculture companies and said a compelling entry point. " Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's standing by its overweight rating on shares of Tesla . Barclays reiterates Disney as equal weight Barclays said it's having trouble finding upside for Disney shares.

Persons: Wells, Needham, Docebo, Morgan Stanley downgrades Freyr, Morgan Stanley, FREY, Andrew Stanleick, Bernstein, Redburn, Goldman Sachs, Goldman, it's, Baird, Kraft Heinz, Miguel Patricio, " Roth, Marvell, Roth, Tesla, laggards, Evercore, TD Cowen, Cowen, We've Organizations: Microsoft, TAM, Deutsche Bank, Deutsche, UBS, Barclays, Mosaic, NTR, ICL, OW, UW, JPMorgan, Apple, Nvidia, Aspen Technology, Kraft, Marvell Technology, Devices, Tesla, Adobe, Disney Locations: BeautyHealth, U.S

☆ Weight-loss drugs' impact will happen very slowly, says Bernstein's Alexia Howard
▼ + stars: | 2023-11-14 | 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 EmailWeight-loss drugs' impact will happen very slowly, says Bernstein's Alexia HowardAlexia Howard, senior research analyst at Bernstein, joins 'The Exchange' to discuss the firm's upgrade of Kraft Heinz, investment opportunities in the rise of weight-loss drugs, and more.

Persons: Bernstein's Alexia Howard Alexia Howard, Bernstein, Kraft Heinz

☆ Stocks making the biggest moves premarket: Fisker, Kraft Heinz, Home Depot and more
▼ + stars: | 2023-11-14 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Fisker — The electric vehicle startup company plummeted more than 18% after missing on third-quarter earnings forecasts and reporting light vehicle deliveries. The company noted that the pace of vehicle deliveries accelerated near the end of the quarter, however. Kraft Heinz — The food and beverage giant added 1.6% in premarket trading after Bernstein upgraded the stock to outperform from market perform. Home Depot — The home improvement retail stock gained nearly 1% after the company posted third-quarter earnings and revenue that beat expectations. Take-Two Interactive Software — The video game company added 2.2% on the back of an upgrade from Deutsche Bank.

Persons: Kraft Heinz, Bernstein, —, Jesse Pound, Brian Evans, Michelle Fox Theobald Organizations: Therapeutics, Deutsche Bank Locations: U.S

Tuesday started with Nvidia getting more praise from one analyst, and a battery stock downgrade. She has a price target of $40 on shares, which suggests 20.3% upside potential from where shares closed on Monday. The firm initiated the stock with a buy rating and $125 price target, which suggests 7% upside from Monday's close. "3Q brings a narrative change in FREY's outlook with new risks to tech, strategy and funding that's been appropriately discounted by the stock market. He also slashed his price target to $2 from $13, which suggests 14.3% upside from Monday's close.

Persons: Tuesday, Morgan Stanley, Freyr, Paul Matteis, Matteis, Vistagen, — Hakyung Kim, BeautyHealth, Allen Gong, Gong, Benjamin Soff, Soff, Bernstein, Kraft Heinz, Alexia Howard, Howard, Miguel Patricio, Roth, Suji Desilva, Desilva, Morgan Stanley downgrades Freyr Battery Morgan Stanley isn't, that's, FREY, Adam Jonas, Jonas, Vivek Arya, — Fred Imbert Organizations: CNBC, Nvidia, Bank of America, Therapeutics Biotechnology, Vistagen Therapeutics, JPMorgan, Deutsche Bank, Rockstar, Kraft, Kraft Heinz, AMD, Investment, Freyr's, Nvidia Bank of America Locations: U.S, Monday's, Freyr's Norwegian

☆ Belichick laments missed opportunities in Patriots' sorry season
▼ + stars: | 2023-11-12 | by ( ) www.reuters.com time to read: +2 min

Nov 12 (Reuters) - New England Patriots coach Bill Belichick blamed "missed opportunities" after a dispiriting 10-6 loss to the Indianapolis Colts on Sunday as the once mighty NFL franchise cratered to their worst record through 10 games in more than two decades. "Obviously a disappointing game - similar theme that we've had other games this year: just too many missed opportunities," Belichick told reporters. "Just got to play better situational football and do a better job taking advantage of the opportunities we have." "When people (are) talking about 'Should Bill Belichick be fired mid-season?' Belichick and the team will have an extended period to regroup as the Patriots are on a bye week before facing the New York Giants on the road.

Persons: Bill Belichick, cratered, Mac Jones, Bailey Zappe, Belichick, we've, horribilis, Tom Brady, Tedy Bruschi, Robert Kraft, Bruschi, Josh McDaniels, Mr Kraft, we're, Amy Tennery, Ken Ferris Organizations: New England Patriots, Indianapolis Colts, NFL, Patriots, Bowl, ESPN, Las Vegas Raiders, Las, New York Giants, Thomson Locations: Frankfurt, United States, Las Vegas, New York

☆ Homesick Americans living in the UK should head to Costco for snacks
▼ + stars: | 2023-11-11 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Costco sells some American brands and products that aren't commonly available in the UK. Candy brands I saw at Costco included Red Vines licorice, Mike and Ike candy, and Welch's Fruit Snacks. A five-pack of Kraft Macaroni & Cheese Dinner costs £11.19 (around $2.75 per box) on the UK website, whereas on its US website, Costco charges $18.99 for 18 boxes of around the same weight – or just over $1 per box. AdvertisementAdvertisementBrits can still get their tea fixThere were, however, plenty of British products on sale, showing how it had adapted its assortment to UK shoppers. Grace Dean/Insider; Will Martin/InsiderLike many supermarkets in the UK, Costco was keen to point out the local origins of some of its own-brand Kirkland Signature produce as consumers pay more attention to food miles and supporting domestic agriculture.

Persons: —, Jerry's, Kraft, Will Martin, Candy, Red Vines, Mike, Ike, I'd, Grace Dean, Tetley, Heinz, Heinz Beanz, Jacks Organizations: Costco, Kraft, &, Service, Kraft Mac, Tesco, Asda, YouTube, Red, pretzels, San Francisco Pretzel Company, Daily, San Francisco Bay Coffee, Kraft Macaroni, Yorkshire Tea, Kirkland, Aberdeen Angus Locations: London, Puerto Rico, Canada, American, San Francisco Bay, South Croydon, Japan

☆ Everyone is going bankrupt
▼ + stars: | 2023-11-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . WeWork, the real-estate company that cosplayed as a tech startup, filed for Chapter 11 bankruptcy this week. AdvertisementAdvertisementBut one Wall Street veteran believes WeWork will be the first of many companies to succumb to a similar fate. 3 things in marketsANGELA WEISS / Getty ContributorCan the stock market keep this momentum going?

Persons: —, AFTRA, Tesla, Brooks Kraft, It's, WeWork, David Trainer, Jennifer Sor, Insider's Vishal Persaud, Katie Notopoulos, Adam Neumann, we've, ANGELA WEISS, Jeff Gundlach, OpenAI's, Google's Bard, Min, Uber, Travis Kalanick's, Matthew Tortoriello, Sherrod Brown, Malte Mueller, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, SAG, Hollywood, Tech, Google, Brooks Kraft LLC, Getty, Wall, P, Bank of America, Wall Street, Nasdaq, ExxonMobil, Tesla, Apple, Brooks, Amazon, YouTube, NFL, News Corp, Sony Locations: French Montana, New York City, San Diego, London, New York

☆ Ranking the biggest winners, and losers, in the current economy
▼ + stars: | 2023-11-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're ranking how different generations are doing in the current economy. After watching their parents and predecessors (millennials) struggle with finances, Gen Z is taking matters into their own hands. A May survey found more than half of Gen Z respondents had already started investing.

Persons: —, Tom Brady, Brooks Kraft, who's, It's, They've, Gen Zers, Gen Z, Gen, they've, Zers, HENRY, There's, aren't, Jamie Dimon, Dimon, Banks, Goldman Sachs, Joel Saget, Loren Elliott, Andreessen Horowitz, Elon, Barack Obama's, Allen Berezovsky, Getty, Roberto Machado Noa, Rowan Jordan, Tyler Le, Bob Iger's, it's, that's, Scooter Braun's, Camila Sterling, David Bolno, Sterling, Vivek Ramaswamy, Nikki Haley, Chris Christie, Will Smith, LL, Queen Latifah, Remy Ma, Chris Sattlberger, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Brooks Kraft LLC, Alpha, Beta, Getty, JPMorgan, Treasury, MDs, AFP, Getty Images Google, Microsoft, Google, US, Disney, Republican, NBC News, CBS, Walt Disney Company, Bayer, Airbus Locations: Ukraine, California, Florida, New York City, San Diego, London, New York

☆ 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

☆ Heinz’s newest ketchup tastes like pickles
▼ + stars: | 2023-11-06 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Ketchup and pickles have been a natural combination on a hamburger and hot dogs for decades. Rolling out to grocery store shelves in early 2024, Heinz’s newest flavor of its famous ketchup is called “Pickle Ketchup,” which combines the “tangy and savory flavor” of pickles with the “unmistakable taste” of its ketchup. Heinz’s purple ketchup experiment in 2000 has its own entry in the Museum of Failure. The pickle taste is also subtle enough to combine with others, making it an appealing flavor to experiment with. Through 2027, Kraft Heinz has a goal of bringing in an additional $2 billion in North American retail revenue from innovation.

Persons: Heinz, Velveeta, Mars Wrigley, ”, Katie Peterson, seltzer, it’s, Kraft Heinz Organizations: New, New York CNN, Heinz Innovation, Kraft Heinz Company, Kraft, North Locations: New York

☆ Kraft Heinz's Carlos Abrams-Rivera on the consumer, Taylor Swift-inspired sauce
▼ + stars: | 2023-11-03 | 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 EmailKraft Heinz's Carlos Abrams-Rivera on the consumer, Taylor Swift-inspired sauceKraft Heinz Incoming CEO Carlos Abrams-Rivera speaks with CNBC's Becky Quick about what he's seeing from consumers, new product based on Taylor Swift, and more.

Persons: Kraft Heinz's Carlos Abrams, Rivera, Taylor Swift, Carlos Abrams, Becky Quick Organizations: Kraft Heinz

☆ Restaurant stocks McDonald's and Chipotle could be due for a pullback after the market's rally this week
▼ + stars: | 2023-11-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

The stock market is enjoying its best week of 2023, but some names may have gotten ahead of themselves. That said, some stocks have become overbought during this week's rally — and could be due for a pullback. MCD YTD mountain McDonald's stock Beverage company Coca-Cola was another one of the several consumer names on this week's overbought list. Here are the 10 most oversold names in the broad market index: Several health-care companies were among this week's most oversold stocks. SEDG 1D mountain SolarEdge shares Revvity, Henry Schein, Align Technology and Fortive are some of the other oversold names from this week.

Persons: McDonald, Kraft Heinz, Amgen, David Palmer, CNBC's, Dr Pepper, SolarEdge, Zvi Lando, Henry Schein Organizations: Dow Jones, Nasdaq, PayPal, Pfizer, CNBC, Beverage, PepsiCo, Monster Beverage, Grill, Darden, Moderna, Enphase Energy, SolarEdge Technologies, Technology Locations: U.S, Europe

☆ As Disney, Fanatics threats emerge, FanDuel CEOs says online sports betting isn't for the 'faint of heart'
▼ + stars: | 2023-11-02 | by ( Ian Thomas | ) www.cnbc.com time to read: +3 min

Currently, 35 states and Washington, D.C., have legal sports betting, according to the AGA. Fanatics, the Michael Rubin-founded sports merchandise company, acquired the U.S. operations of PointsBet after a several-year pursuit of an entry to the sports betting market. "These are partnerships that we've been building up for years long before online sports betting was legal in the states." And oh, by the way, you're spending a lot of money making sure that again, you can responsibly bring consumers to your platform," Howe said. Hear how CEOs from Target, FedEx, Kraft Heinz, FanDuel and more are adapting, innovating and transforming in this new era of business.

Persons: FanDuel, Michael Rubin, Amy Howe, CNBC's Contessa Brewer, you've, Howe, there's, we've, It's, Kraft Heinz Organizations: Supreme, American Gaming Association, D.C, Caesars, Disney, ESPN, ESPN Bet, Penn Entertainment, CNBC's, CNBC, FanDuel, Ticketmaster, NFL, NBA, MLB, NHL, Google, Target, FedEx, Kraft Locations: U.S, Washington, PointsBet

☆ Nissan CEO weighs in on how the EV market has changed since Covid
▼ + stars: | 2023-11-02 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +3 min

That presents a series of challenges to established automakers like Nissan, which have followed global strategies for decades. The market has been fragmented, and customers' acceptance speed is also different," Uchida said. "So what's important is how much we can start to localize in each respective market," Uchida said. But many of those new Nissan EVs will no longer be global models. For instance, EV customers in China are very sensitive to pricing – but they also want the latest technology, which they've come to expect from the fierce competition between the many domestic Chinese EV makers.

Persons: Makoto Uchida, –, CNBC's Martin Soong, Uchida, they've, Li Auto, Kraft Heinz, FanDuel Organizations: Nissan Motor Co, Nissan Hyper Force, Japan, Nissan, Toyota, Volkswagen, Target, FedEx, Kraft, CNBC PRO Locations: Tokyo, Japan, U.S, Europe, China

☆ Mondelez hikes annual forecasts for third time this year
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

Mondelez International logo and stock graph are seen displayed in this illustration picture taken July 26, 2021. Picture taken July 26, 2021. Shares of the Chicago-based snack maker rose 3% in after-hours trading as it also beat quarterly net revenue estimates. Mondelez's organic net revenue for the full year is expected to grow 14% to 15% compared with a prior expectation of a more than 12% growth. Quarterly net revenue was $9.03 billion in the third quarter ended Sept. 30, from $7.76 billion a year earlier.

Persons: Dado Ruvic, Kraft Heinz, Savyata Mishra, Krishna Chandra Organizations: REUTERS, Mondelez, Thomson Locations: Chicago, Bengaluru

☆ Morning Bid: Fed, financing and jobs greet November
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +6 min

Despite the U.S. Treasury forecasting a lower fourth-quarter borrowing need than previously flagged, the tension in the bond market remains ahead of its detailed future refinancing plans due later on Wednesday. With the Federal Reserve widely expected to hold policy rates steady again on Wednesday, the Treasury plans may end up getting more bond market attention. But U.S. consumer confidence has softened, oil prices are falling again and the overseas demand picture is weakening. Another heavy day of U.S. corporate earnings is topped by big insurers and the likes of PayPal and Kraft Heinz. On Tuesday, shares in heavy-machinery maker Caterpillar (CAT.N) sank almost 7% as signs of slowing demand overshadowed a quarterly earnings beat.

Persons: Mike Dolan, Masato Kanda, it's, Japan's, China Evergrande, Joe Biden, Xi Jinping, Kraft Heinz, Estee Lauder, Kraft, Ingersoll Rand, Nick Macfie Organizations: Wednesday's, Bank of Japan, Japan's Nikkei, Japan, U.S, U.S . Treasury, Federal Reserve, Treasury, HK, White House, Asia Pacific Economic Cooperation, Wall, PayPal, Kraft, Caterpillar, Edison, AIG, Prudential Financial, MetLife, Qualcomm, Mckesson, Kraft Heinz, Allstate, Congnizant, Boston Properties, Water, Garmin, CVS, Brands, Humana, Reuters Graphics Reuters, US National Retail Federation, Thomson, Reuters Locations: U.S, United States, China, Hong Kong, San Francisco, Tokyo, Marathon, Boston

☆ Charlie Munger says he dislikes fashion stocks like Nike - but he'd buy Hermès stock if it was cheap enough
▼ + stars: | 2023-11-01 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Charlie Munger avoids fashion stocks like Nike, but he'd invest in Hermès at a compelling price. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementCharlie Munger isn't a fan of fashion retail, but there's one luxury stock he'd own at the right price. Buffett's business partner also touched on Kraft Heinz, which counts Berkshire as its biggest shareholder with a nearly 27% stake. AdvertisementAdvertisement"Kirkland is a brand the way Tide is a brand, and Hermès is a different kind of a brand," Munger said.

Persons: Charlie Munger, Warren Buffett's, Munger, —, Charlie Munger isn't, I'm, Birkin, Hermès, Kraft Heinz, Heinz, Kirkland Organizations: Nike, Service, Berkshire Hathaway's, Berkshire, Kraft Locations: Hermès, Berkshire

☆ Stocks making the biggest moves premarket: AMD, WeWork, Wayfair, Humana and more
▼ + stars: | 2023-11-01 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Advanced Micro Devices — The chipmaker dipped more than 1% after issuing softer-than-expected revenue guidance for the fourth quarter. Match Group — The dating service platforms owner shed 8.3% on weaker-than-estimated revenue guidance for the fourth quarter. Wayfair — The online furniture retailer tumbled 12% after third quarter revenue missed analyst expectations. Yum reported $2.91 billion in revenue, while analysts had expected $3.06 billion in revenue, according to estimates from LSEG. Caesars Entertainment – The gaming stock rose 5% before the bell after topping Wall Street's third-quarter earnings expectations.

Persons: General Motors, Wayfair, Goldman Sachs, ZoomInfo, FactSet, Estee Lauder, —, Kraft Heinz, Paycom, Fred Imbert, Alex Harring, Jesse Pound, Samantha Subin, Sarah Min Organizations: Street Journal, Ford, General, Barclays, CVS, Technologies, Humana, Kraft Heinz, FactSet, Yum China, —, Caesars Entertainment, LSEG Locations: Aetna, China, LSEG

☆ Kraft Heinz lifts annual profit target as price hikes boost margin
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

Bottles of Heinz Tomato Ketchup, a brand owned by The Kraft Heinz Company, are seen in a store in Manhattan, New York, U.S., November 11, 2021. REUTERS/Andrew Kelly Acquire Licensing RightsNov 1 (Reuters) - Kraft Heinz (KHC.O) beat Wall Street estimates for third-quarter profit and raised its annual forecast as the Jell-O maker's margins benefited from higher prices of its packaged meals and condiments. Kraft's prices increased by 7.1 percentage points for the quarter, boosting its adjusted gross margin by 396 basis points to 34%. However, the higher prices took a toll on demand from inflation-hit customers, sending Kraft's overall volumes down 5.4 percentage points even as organic net sales grew 1.7%. The Philadelphia Cream Cheese maker forecast full-year adjusted profit in the range of $2.91 to $2.99 per share, compared with its previous range of $2.83 to $2.91.

Persons: Andrew Kelly, Kraft Heinz, General Mills, Savyata Mishra, Mary Manoj, Devika Organizations: The Kraft Heinz Company, REUTERS, Kellogg, Cola, Philadelphia Cream, Thomson Locations: Manhattan , New York, U.S

☆ Dow closes up more than 510 points to kick off a busy week for the US economy
▼ + stars: | 2023-10-30 | by ( Krystal Hur | ) edition.cnn.com time to read: +3 min

Apple shares rose 1.2% on Monday ahead of its quarterly results due after Thursday’s close, which will be closely watched after the carnage in tech stocks last week. Other Big Tech stocks also rallied Monday. Alphabet shares rose 1.9%, Meta Platforms added 2%, Microsoft gained 2.3% and Amazon increased 3.9%. McDonald’s shares also rose 1.7% on Monday after the fast-food chain beat top- and bottom-line expectations. Traders largely expect that the Fed won’t hike rates for the rest of the year, according to the CME FedWatch Tool.

Persons: New York CNN — Stocks, Dow, Jerome Powell, Thursday’s, Eli Lilly, stoking, ”, Tom Graff Organizations: New, New York CNN —, Federal, Nasdaq, Big Tech, Traders, Treasury Department, Treasury, Apple, Microsoft, Anheuser, Busch, Stellantis, CVS, Kraft Heinz, Pfizer, Starbucks, Investors Locations: New York

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