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General Mills Inc

Companies losing pricing power after years of unbridled spending

Pedestrians carrying Nike and Allbirds shopping bags in the SoHo neighborhood of New York on Oct. 24, 2021.Nina Westervelt | Bloomberg | Getty ImagesAfter years of unbridled consumer spending on everything from home improvement to dream vacations, some companies are now finding the limits of their pricing power.Shipping giant FedEx last week said customers have shied away from speedier, pricier shipping options. Airlines including Southwest discounted off-peak fares in the fall. The likes of Target and Cheerios maker…

General Mills, FedEx warn about weak demand

Limited Edition holiday breakfast cereal, Christmas Crunch in holiday shapes, Target store, Queens, New York. (Photo by: Lindsey Nicholson/UCG/Universal Images Group via Getty Images)Lindsey Nicholson | Getty ImagesTwo big companies weighed in on persistent demand woes this week.General Mills, which reported earnings Wednesday morning, said tepid demand and pricing pressures are compounding problems for the Dunkaroos and Bisquick maker. That echoed what FedEx said in its report after the bell Tuesday. FedEx shares fell…

Mars candy looks to grow ice cream business with factory investment

Dove Ice Cream Bars are packaged at Mars' factory in Burr Ridge, Illinois.Source: MarsCandy giant Mars is trying to make a name for itself in a new category: ice cream.The family-owned company aims for its ice cream business to reach $1 billion in sales worldwide by 2030. In May, Mars tapped executive Anton Vincent to lead its global ice cream business, adding to his existing role as president of Mars Wrigley North America.Mars faces tough competition to achieve its ambition in the U.S., but the company has been investing…

Smucker is the only new ‘dividend aristocrat’ worth buying

CNBC's Jim Cramer on Tuesday said that investors should consider adding J.M. Smucker stock to their shopping lists."Even though this market's had a real good run, and I think the bear is more or less dead outside of tech, I still think you need some downside protection because this is a tricky moment," he said.related investing newsNordson, C.H. Robinson and J.M. Smucker qualified for the S&P 500 Dividend Aristocrats and will be added to the index on Feb. 1, the S&P Dow Jones Indices said earlier this month.The…

Gilead Sciences, Moderna, Tesla and more

A sign is posted in front of the Gilead Sciences headquarters on April 29, 2020 in Foster City, California.Justin Sullivan | Getty ImagesCheck out the companies making the biggest moves midday:General Mills — General Mills dropped 4.2%, despite reporting better-than-expected revenue and profit for the last quarter. The food producer also raised its full-year forecast. Higher prices partially offset increased output costs.Gilead Sciences — Gilead Sciences sank 2.4% after announcing its Kite unit would acquire biotech…

Earnings, data should give clues on Fed moves

CNBC's Jim Cramer on Friday looked ahead to next week's earnings and economic data calendar, which will provide fresh insights on Wall Street's primary worry: whether the Federal Reserve's interest rate-hiking campaign will tip the U.S. into a recession."We want the Fed to talk a big game, without needing to actually do too much," Cramer said on Friday's episode of "Mad Money." "Talk is better than action. We want to scare the economy into slowing under its own weight. We don't want endless rate hikes ... that will…

Kellogg, General Mills, Post cereal sales slow after pandemic surge

Kellogg, the 117-year-old brand that started as a breakfast cereal company has since expanded to be one of the largest food companies in the world, has seen declining cereal sales over the past couple of decades.The one-time category leader is now facing a number of setbacks, including numerous lawsuits over its products' nutritional value amid a more health-conscious consumer base. And in 2021, the food giant sustained a damaging fire at its Memphis facility, and later that same year 1,400 workers went on strike to…

Twitter lays off staff as Musk blames activists for ‘massive’ ad revenue drop

Twitter Inc laid off half its workforce on Friday but said cuts were smaller in the team responsible for preventing the spread of misinformation, as advertisers pulled spending amid concerns about content moderation. Tweets by staff of the social media company said teams responsible for communications, content curation, human rights and machine learning ethics were among those gutted, as were some product and engineering teams. The move caps a week of chaos and uncertainty about the company's future under new owner Elon…

Stay long on CF Industries

ON Semiconductor Corp: "Right now, I've got a pause on the semis. Why? Because we've got so many problems right now in China."Dutch Bros Inc: "I want you to put half the position on now, and then half when it goes below $30. ... I like the stock, though."NIO Inc: "I have to say no to that. ... I think that that stock is not a buy."Cinemark Holdings Inc: "This is a very difficult business. ... I'm going to have to say, once again, "Cano Health Inc: "I like the healthcare space, I think they do quality healthcare work, and…

How Powell and the Fed may react to FedEx warning

CNBC's Jim Cramer on Friday said that FedEx's warning of worsening economic conditions suggests the Federal Reserve is doing better in its inflation effort than expected — meaning the central bank could take a step back after its meeting next week."If Fed chief Jay Powell watched our interview last night … he might discover that he's made more progress whipping inflation than he might realize," Cramer said."Maybe Powell will hit us with another 75 basis point hike right here and then say maybe it's time to take a more…