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Tag: Food Products

  • Mars Wrigley fined after two workers fell into a tank of chocolate | CNN Business

    Mars Wrigley fined after two workers fell into a tank of chocolate | CNN Business

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    London
    CNN
     — 

    US regulators have fined Mars Wrigley, the maker of Snickers and Skittles, after two workers fell into a tank of chocolate at its Pennsylvania factory last June.

    The Occupational Safety and Health Administration fined the confectionery and chewing gum maker $14,500 for the incident, which it described as “serious” in a report.

    “Employees of an outside employer, I.K. Stoltzfus Service Corp., cleaned tanks, including the Dove chocolate batching 20 micron tank, owned by the onsite/host employer, Mars Wrigley,” the report said.

    Mars Wrigley failed to provide the contractors with adequate safety training, the document added.

    According to Penn Live, a local news site, firefighters rescued the workers by drilling a hole in the bottom of the tank and pulling them out. The chocolate was about waist-high, it reported.

    Mars Wrigley did not immediately respond to CNN’s request for comment.

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  • Tyson Foods stock slides premarket after earnings miss by a wide margin

    Tyson Foods stock slides premarket after earnings miss by a wide margin

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    Tyson Foods Inc. stock slid 5.5% in premarket trade Monday, after the meat processor and parent to brands including Jimmy Dean and Hillshire Farm missed consensus estimates for its fiscal first quarter by a wide margin.

    “We faced some challenges in the first quarter,” Chief Executive Donnie King said in a statement. “Market dynamics and some operational inefficiencies impacted our profitability. We expect to improve our performance through the back half of fiscal 2023 and into the future, as we strive to execute with excellence and work to become best in class in our industry.”

    Springdale, Arkansas-based Tyson posted net income of $316 million, or 88 cents a share, for the quarter to Dec. 31, down from $1.121 billion, or $3.07 a share, in the year-earlier period. Adjusted per-share earnings came to 85 cents, well below the $1.31 FactSet consensus.

    Sales rose to $13.260 billion from $12.933 billion, also below the $13.515 billion FactSet consensus.

    The company, the biggest U.S. meat supplier measured by sales, said beef prices fell by an average of 8.5% in the quarter, while chicken prices rose 7.1% and pork prices were up 1.4%. The company’s prepared foods division’s sales rose 7.6% and international and other food sales were up 4.9%.

    Beef sales rose 2.9% to $4.723 billion, while pork sales fell 7.4% to $1.529 billion. Sales of chicken rose 2.5% to $4.263 billion, while prepared foods sales rose 1.2% to $2.538 billion. International and other food sales were up 6.4% to $612 million.

    The U.S. Department of Agriculture is expecting domestic protein production — beef, pork, chicken and turkey — to be flat in fiscal 2023 versus year-earlier levels, said Tyson.

    Tyson said it is expecting fiscal 2023 sales of $55 billion to $57 billion, while FactSet expects $55.2 billion. Tyson expects capex of about $2.5 billion and net interest costs of about $330 million.

    The stock has fallen 27% in the last 12 months, while the S&P 500
    SPX,
    -1.04%

    has fallen 8%.

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  • Big Tech just added to a shrinking forecast, but maybe Bob Iger can brighten the mood

    Big Tech just added to a shrinking forecast, but maybe Bob Iger can brighten the mood

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    Wall Street’s expectations for 2023 have been diving as forecasts for the new year come in light, and the news could get worse once they factor in disappointing results from Big Tech. But at least Bob Iger is coming back for a sequel.

    Google, Facebook, Amazon and Apple all disappointed with holiday earnings this week. Their forecasts ranged from nonexistent to piecemeal to meh, and the fallout will only add to the biggest dive in Wall Street’s expectations through the beginning of a year since 2016.

    Analysts’ average forecast for 2023 earnings from the S&P 500 index
    SPX,
    -1.04%

    dropped by 2.5% in January, according to FactSet Senior Earnings Analyst John Butters, the worst in seven years. Those projections began heading lower last year, and the decline is only steepening — analysts are now projecting 3% earnings growth in 2023, and that is contingent on a big holiday rebound from the results being released this quarter.


    Uncredited

    The news was even worse for the first quarter, for which projections declined 3.3% in January as companies whiffed on their forecasts at a rapid pace: 86% of the 43 companies that have guided for first-quarter earnings have missed projections, Butters reported. Earnings are now expected to decline 4.2%, which would be the first year-over-year earnings decline since the third quarter of 2020, when the COVID-19 pandemic write-offs started to come in.

    Big Tech only added to the downward trajectory in recent days. Amazon.com Inc.
    AMZN,
    -8.43%

    missed on its holiday earnings as well as its forecast for the first quarter, and that company could determine if S&P 500 profits rise in 2023 all on its own. Amazon’s worst holiday earnings since 2014 could also contribute to the consumer discretionary sector’s first earnings decline since the beginning of the pandemic, with holiday sector earnings now expected to drop more than 5%.

    Google parent Alphabet Inc.
    GOOGL,
    -2.75%

    GOOG,
    -3.29%

    and Facebook parent Meta Platforms Inc.
    META,
    -1.19%

    also missed their respective earnings targets amid problems with the digital-advertising industry, leading to the communications-services sector having the worst earnings season in the S&P 500. Profit has declined 25.2% in that sector so far, the worst among the 11 S&P 500 sectors, but would be down just 6.5% without the effects of Meta and Alphabet, Butters reported.

    Apple Inc.
    AAPL,
    +2.44%

    also didn’t do projections any favors, reporting its biggest sales decrease since 2016 and an earnings miss Thursday afternoon. In a piecemeal forecast, executives projected a similar sales decline in the calendar first quarter, though unofficially.

    This week in earnings

    After the busiest week in earnings season wrapped up, don’t expect much of a breather — 95 S&P 500 companies are expected to report in the week ahead, the third consecutive week with at least 90 companies reporting. There will be plenty of intrigue among companies not in the S&P 500 too, including Robinhood Markets Inc.
    HOOD,
    -3.59%

    and Affirm Holdings Inc.
    AFRM,
    -14.14%

    reporting together on Wednesday afternoon.

    Only one Dow Jones Industrial Average
    DJIA,
    -0.38%

    stock will report, but that is the Wednesday call you will want to tune in for: Bob Iger’s return to the Walt Disney Co.
    DIS,
    -2.21%

    earnings show.

    The calls to put on your calendar
    The numbers to watch

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  • Tesla, GM, Lucid, Alibaba, and More Stock Market Movers

    Tesla, GM, Lucid, Alibaba, and More Stock Market Movers

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  • Trader Joe’s asked customers to rank their nine top products. Here they are | CNN Business

    Trader Joe’s asked customers to rank their nine top products. Here they are | CNN Business

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    New York
    CNN
     — 

    Trader Joe’s asked its customers a simple question: If you were to spend the rest of your life on a deserted island, which nine Trader Joe’s products would you take with you?

    More than 18,000 customers responded to its 14th annual survey ranking the grocery store’s most popular items in nine different categories.

    There were some caveats this year: Gone from the running were five products that have won many times in the past (think Mandarin Orange Chicken and dark chocolate peanut butter cups), and instead are featured in its Product Hall of Fame.

    The first Trader Joe’s opened in Pasadena, California, in 1967. Its founder Joe Coulombe (yes, Joe was a real guy), was a convenience store owner who wanted to open a grocery chain to appeal to a niche market of well-educated, well-traveled consumers. The idea led him to create a cult-favorite grocery empire.

    Here are the products customers voted their favorites, in categories from cheese to entrees.

    Chili & Lime Flavored Rolled Tortilla Chips, spicy corn chips, swept the competition this year, taking home the top prize. Runners-up included the hash browns, chicken soup dumplings, Everything but the Bagel sesame seasoning blend, and chocolate croissants.

    See the all-time favorites included in Trader Joe’s Hall of Fame

    The chips also won in the poll’s favorite snack category. Customers were also fans of the Organic Elote Corn Chip Dippers, Organic Corn Chip Dippers, World’s Puffiest White Cheddar Corn Puffs and Crunchy Curls, which were all among the top vote-getters.

    The Sparkling Honeycrisp Apple Juice was the fans’ favorite beverage, though it is seasonal. The canned drink is a simple three-ingredient blend of apple juice, water and bubbles.

    Following is the Triple Ginger Brew, Sparkling Peach Black Tea with peach juice, Sparkling Cranberry & Ginger Beverage and the Non-Dairy Brown Sugar Oat Creamer.

    Trader Joe's Cheddar Cheese with Caramelized Onions

    Now that Hall of Famer Unexpected Cheddar is no longer an option in the poll, the store’s cheddar cheese with caramelized onions took home top accolades.

    See the full list of customer choice award winners

    Runners-up included Syrah Soaked Toscano, seasonal Baked Lemon Ricotta, Blueberry & Vanilla Chèvre and its various bries.

    Replacing the longtime Mandarin Orange Chicken is Trader Joe’s Butter Chicken – spiced chicken in a tomato and cream sauce with basmati rice.

    Indian is popular with Trader Joe’s customers. Second runner-up was Chicken Tikka Masala, followed by Kung Pao Chicken, Butternut Squash Mac & Cheese and BBQ Teriyaki Chicken.

    Seasonal candles won out in this category. Its seasonal scents include Peony Blossom, Cedar Balsam, Honeycrisp Apple and Vanilla Pumpkin.

    Runners-up: Daily Facial Sunscreen, Ultra-Moisturizing Hand Cream, Tea Tree Tingle Shampoo & Conditioner, and Shea Butter & Coconut Oil Hair Mask.

    Unsurprisingly, customers voted bananas as their top choice. The chain is known for its 25-cent organic bananas and 19-cent regular bananas. Following choices were Teeny Tiny Avocados, Honeycrisp Apples, Brussels Sprouts and Organic Carrots of Many Colors.

    The tiny and crunchy Hold the Cone! Mini Ice Cream Cones won top dessert, followed by Danish Kringle, Sublime Ice Cream Sandwiches, Chocolate Lava Cakes and Brookie.

    Trader Joe's Vegan Kale, Cashew & Basil Pesto spread onto a grilled Portabella mushroom burger, topped with roasted red peppers and fresh greens

    Among its many vegan and vegetarian options, the Vegan Kale, Cashew & Basil Pesto came out on top. Vegetable Fried Rice, Beefless Bulgogi, Palak Paneer, Cauliflower Gnocchi followed.

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  • Madison Square Garden CEO doubles down on use of facial recognition tech | CNN Business

    Madison Square Garden CEO doubles down on use of facial recognition tech | CNN Business

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    CNN
     — 

    The chief executive of the Madison Square Garden Entertainment Corporation has doubled down on using facial recognition at its venues to bar lawyers suing the group from attending events.

    Speaking to Fox 5 on Thursday, MSG Executive Chairman and CEO James Dolan said Madison Square Garden is a private company and therefore entitled to determine who is allowed to enter its venues for events.

    “At Madison Square Garden, if you’re suing us, we’re just asking of you – please don’t come until you’re done with your argument with us,” he said. “And yes, we’re using facial recognition to enforce that.”

    His comments come after New York Attorney General Letitia James on Wednesday sent a letter to MSG Entertainment requesting information regarding its use of facial recognition technology to prohibit legitimate ticketholders from entering venues. The letter said the attorney general’s office has reviewed reports MSG Entertainment has used facial recognition to identify and deny entry to multiple lawyers affiliated with law firms involved in ongoing litigation with the company. The letter indicates thousands of attorneys from around 90 law firms may have been impacted by the policy, and said the ban includes those holding season tickets.

    The attorney general’s letter raised the concern that banning individuals from accessing venues over ongoing litigation may violate local, state, and federal human rights laws, including laws prohibiting retaliation. The letter also questions whether the facial recognition software used by MSG Entertainment is reliable and what safeguards are in place to avoid bias and discrimination.

    In a press release, James said, “MSG Entertainment cannot fight their legal battles in their own arenas. Madison Square Garden and Radio City Music Hall are world-renowned venues and should treat all patrons who purchased tickets with fairness and respect. Anyone with a ticket to an event should not be concerned that they may be wrongfully denied entry based on their appearance, and we’re urging MSG Entertainment to reverse this policy.”

    MSG Entertainment owns and operates several venues in New York, including Madison Square Garden, Radio City Music Hall, the Hulu Theater, and the Beacon Theatre. Madison Square Garden is the home of the New York Knicks, Rangers, professional boxing, and college basketball teams.

    In a statement Thursday, an MSG spokesperson told CNN, “To be clear, our policy does not unlawfully prohibit anyone from entering our venues and it is not our intent to dissuade attorneys from representing plaintiffs in litigation against us. We are merely excluding a small percentage of lawyers only during active litigation.”

    “Most importantly,” the spokesperson added, “to even suggest anyone is being excluded based on the protected classes identified in state and federal civil rights laws is ludicrous. Our policy has never applied to attorneys representing plaintiffs who allege sexual harassment or employment discrimination.”

    In the Fox 5 interview Thursday, Dolan said when the attorneys suing MSG finish their litigation, they will be welcome back to the venues. “If your next door neighbor sues you, if somebody sues you, right, that’s confrontational. It’s adversarial and it’s fine, people are allowed to sue,” he said. “But at the same time, if you’re being sued, right, you don’t have to welcome the person into your home, right?”

    Dolan defended the use of facial recognition technology, saying it’s useful for security and noting that he believes Madison Square Garden to be one of the safest venues in the country. “Basically, anytime that you go out in public, you’re on camera,” he said. “Believe me, you walk down the street, you’re on camera, you’re on 10 cameras. What facial recognition does is looks at, you know, recognizes your face, and says you know, are you someone who’s on this list.”

    Dolan claimed the State Liquor Authority has threatened MSG’s license over its use of facial recognition technology. The New York State Liquor Authority told CNN it issued a “letter of advice” to MSG, after receiving a complaint in mid-November over attorneys engaged in litigation against the company not being allowed to enter its premises.

    “After receiving a complaint, the State Liquor Authority followed standard procedure and issued a Letter of Advice explaining this business’ obligation to keep their premises open to the public, as required by the Alcoholic Beverage Control Law,” Joshua Heller, a State Liquor Authority spokesperson, told CNN.

    The SLA told CNN an investigation into the matter is “ongoing”.

    During the Fox interview, Dolan apparently threatened to shut down sales of liquor during an unspecified upcoming New York Rangers game, and said he would direct any upset patrons to the liquor authority to complain.

    Dolan also pushed back at the suggestion that he’s being “too sensitive.”

    “The Garden has to defend itself,” Dolan said. “If you sue us, right, you know we’re going to tell you not to come.”

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  • 6 cheap stocks that famed value-fund manager Bill Nygren says can help you beat the market

    6 cheap stocks that famed value-fund manager Bill Nygren says can help you beat the market

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    These are tricky times in the stock market, so it pays to look to the best stock-fund managers for guidance on how to behave now. Veteran value investor Bill Nygren belongs in this camp, because the Oakmark Fund OAKMX he co-manages consistently and substantially outperforms its peers. 

    That isn’t easy, considering how many fund managers fail to do so. Nygren’s fund beats its Morningstar large-cap value index and category by more than four percentage points annualized over the past three years. It also outperforms at five and…

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  • There’s actually a presale for Oreo’s newest flavor | CNN Business

    There’s actually a presale for Oreo’s newest flavor | CNN Business

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    New York
    CNN
     — 

    In the past, Oreo has partnered with Lady Gaga, Pokémon and Ritz on new limited-time flavors. Now, it’s working with … itself. And Martha Stewart.

    The cookie brand’s latest limited-edition cookie is an Oreo stuffed with Oreos.

    Dubbed “the Most OREO OREO,” the cookie is made with the usual chocolate wafers, filled (to the “Most Stuf” extreme) with a creme that has Oreo bits mixed in, for a meta cookies-n-creme experience. The flavor is available for pre-sale through the Oreo website starting Tuesday, and will hit shelves at major retailers nationwide starting on January 30 for a suggested retail price of $4.99.

    The packages come with a QR code that allows buyers to access online games and chances to win prizes in the so-called Oreoverse — Oreo’s entrée into the metaverse, a virtual space where people interact through avatars. Those with VR headsets can use them to access the Oreoverse. Others can just use their phones or computers.

    For brands, the metaverse promises a whole new way to reach young customers, and Oreo isn’t the only brand trying to market to people using new online spaces.

    Coca-Cola

    (KO)
    has paired its high-concept limited-edition flavors like Starlight, Byte and Dreamworld with online experiences including virtual concerts, digital outfits and custom places within video games like Fortnite. Kraft Heinz

    (KHC)
    has placed Lunchable logos in Roblox, and Heinz-sponsored rest areas in Call of Duty.

    Oreo sees it as a new way to reach consumers, and for them to interact.

    Martha Stewart with the Most Oreo Oreo.

    “We love to create new opportunities for our fans to connect with each other,” said Julia Rosenbloom, Oreo’s senior brand manager, in a statement announcing the new flavor, noting “we’re so excited to enter the metaverse!”

    To help launch the Oreoverse, Oreo tapped Martha Stewart and Ryan McCallister, her gardener and quarantine buddy. On Monday, Stewart and McCallister will share their Oreoverse experiences on Oreo’s social media channels.

    Stewart also recently partnered with Tito’s Handmade Vodka on a tongue-in-cheek campaign that offers those observing dry January other ways to make use of vodka, llke putting a splash (or two) in a marinara sauce or deodorizing stinky boots.

    — CNN’s Jordan Valinsky contributed to this report.

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  • Best drip coffee maker in 2023 | CNN Underscored

    Best drip coffee maker in 2023 | CNN Underscored

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    CNN
     — 

    There are so many brewing methods to choose from (French press, the currently trendy dalgona whipped, pour-over), but many coffee lovers still rely on the classic, automatic drip for their daily fix. That’s why we tested the best-rated drip coffee makers using a wide range of criteria (outlined below) over the course of several weeks. Bags upon bags of dark roast, light roast and medium roast coffee beans were ground and brewed. We made full carafes, half carafes and single cups. And we tasted the results black, with cow’s milk, almond milk, sweetened condensed milk, cold-brew strength over ice — you name it.

    Many, many pots of coffee later, we settled on four standout drip coffee machines.

    Best drip coffee maker overall

    The Braun KF6050WH BrewSense Drip Coffee Maker produced consistently delicious, hot cups of coffee, brewed efficiently and cleanly, from sleek, relatively compact hardware that is turnkey to operate, and all for a reasonable price.

    Runner-up with a modern bent

    This was, to our eye, the most handsome and minimally designed of the straightforward auto-brewers, delivering a clean, tasty cup. It lost first place only because the touchscreen may not be for every consumer, and brew time is significantly longer than the other machines we tried out.

    Luxury pick for the design-obsessed

    In just near five minutes, the Technivorm Moccamaster 59636 KBG Coffee Brewer turns out a whole pot of pretty perfectly brewed coffee, and the process is as entrancing as a targeted Netflix trailer.

    Best affordable drip coffee maker

    One of the cheapest options we tested, the Mr. Coffee 12-cup brewer is compact, simple to operate and yields a very competitive cup. ​

    CNN Underscored_drip coffee makers_braun body

    We brewed countless pots of coffee with the BrewSense, ranging from light to dark roast, and each one yielded a strong, delicious cup with no sediment, thanks to the gold tone filter, designed to remove the bitterness from coffee as well reduce single-use paper-filter waste. The machine we tested was white — a nice option for those with a more modern kitchen design — but it also comes in black, and it’s compact enough to fit under the cabinets in a smaller space compared to some of the more cumbersome machines we tested.

    The BrewSense is straightforward to operate: It’s designed like a traditional automatic drip machine with manual operating buttons, but with a sleek, modern upgrade. The hardware is a sophisticated combination of brushed metal and plastic, with a glass carafe that feels comfortable in the hand.

    The BrewSense doesn’t have a lot of bells and whistles compared to some of the machines we tested, and that functional ease helped elevate it to the top of our list. You could unbox this machine, flush it through with water once, and be drinking a freshly brewed cup within 15 minutes, all without reading the manual. Brewing is also a nearly silent process, which can be pleasing on early mornings. Some consumers may want a machine loaded with special features, but for those who just want delicious, hot coffee every morning, without spending over a hundred bucks, this is your best bet.

    The BrewSense isn’t perfect: It’s not the fastest we tested — to brew a full pot of 12 cups took upwards of 11 minutes. And we found an annoying error in the instruction manual around how to program the clock (call us rigid, but we insisted on programming the time before using each of the machines!); the directions read to press and hold CLOCK and then SET, but that didn’t work. We had to simply press and hold the CLOCK button and then sort of trial and error our way through the hours and minutes. Meanwhile, the auto-program setup is not as obvious as we’d have liked; though once we got it, it worked like a dream. But otherwise, we found this machine intuitive and easy to operate even without the instruction manual.

    Cleanup could at times be a little messier than some of our other machines. The hot water comes up through the filter basket and spreads the grounds up to the top of the cone, and during one brewing, a tiny bit rose up outside the cone so the top of the brew apparatus needed a little wipedown. Overall, though, for less than $80, this machine delivers the best bang for your buck of anything on the market.

    CNN Underscored_drip coffee makers_cuisinart body

    Coming in just a few points behind the Braun BrewSense was one of the three Cuisinart automatic drip machines we tested: the Touchscreen 14-Cup Programmable.

    We rated all three Cuisinarts highly, but the Touchscreen ranked highest for its combination of progressive design and everyday efficacy. All the Cuisinart products we encountered were well designed, but this one feels special, like when you unbox a brand-new Apple product: Its all-black, shiny surfaces and touchscreen control panel look and feel next-level for an everyday coffee maker (and the price, $235 at Macy’s, more than three times that of the Braun, reflects that).

    But this isn’t just a fancy, aesthetically pleasing machine: It brewed strong, delicious coffee that tasted cleanly filtered but rich. It’s also relatively easy to program and use, given its tech-centric platform. The touchscreen panel features cute little icons signifying one-touch commands to help customize your brew: If you like your coffee bolder, you can select the BOLD feature; if you’re brewing less than half a pot, select the 1 to 4 cups feature for a slower brew with the proper extraction time; adjust the hot plate temperature to low, medium or high; turn the audible brew-cycle-finished tone on or off.

    That tech-centric design is also one of the reasons this didn’t come in at number one, however. As exciting and different as it felt, we did feel that this machine — the only touchscreen model we tested — would feel less intuitive and more laborious than some consumers would want as part of their morning coffee routine. The touchscreen goes dark during the brew process, which yes, is nice-looking, but also feels a bit jarring, like you’re literally in the dark, asking yourself, “What’s going on? Is coffee brewing?” The settings and operating buttons are clear enough when illuminated, but it did take us a few times brewing to get used to how much pressure you need to apply with your fingertip to the touchscreen. We could easily think of people in our own lives who would be flummoxed by this machine if left alone with it and a bag of coffee — and for that, it lost a few points in functionality.

    Also, like its Cuisinart cousins we tested, this one’s a slower brewer. We clocked 11 minutes for eight cups, and if you’re watching your coffee maker brew like, well, a watched pot, it seems like it … takes forever. We understand the appeal of a slower brewing process (pour-over and Chemex fans, we hear you!), but 12 to 14 minutes for a full pot of coffee seems like a long time to wait when you’re thirsty for your morning Joe and you’re not doing it by hand. Finally, not everyone will want to spend more than $200 on a coffee maker. But many may.

    While some consumers might be flummoxed by the technology of this higher-end product, others will embrace it and make it a centerpiece of their kitchen, and rightly so. Form plus function equals morning happiness here.

    CNN Underscored_drip coffee makers_moccamaster body

    We had heard about the Technivorm Moccaster, a machine beloved for its innovative and old-school industrial design, handmade and tested in the Netherlands since 1968, even before we received it for this story. Multiple friends reached out upon hearing that we were testing a Moccamaster, singing the brand’s praises, and one declared it superlative via Instagram DM: “Moccamaster? Test over!” And the Moccamaster arrives with its own best PR too. Its user manual applauds buyers: “Congratulations on your purchase of the World’s Finest Coffee Brewer!” (If you’re spending more than $300 on a coffee maker, perhaps the enthusiasm feels validating.)

    Once we got the apparatus set up — which takes a little focus and time, to be honest — it really did pay off, with possibly the most delicious, hot, fresh cup of coffee we have ever tasted from a home-brewed machine. What’s more, you barely have time to peruse the morning news headlines before the process is done. The Moccamaster brewed 10 cups in less than six minutes, and, on a second trial, six cups in under four minutes. The brew function is almost jarringly fast: Once you turn on the machine, the brewing starts immediately. Then, seeing the water heat in the tank and bubble up through the water transfer tube into the brewer was a throwback to middle-school science experiments in the most pleasing way, like if a lava lamp produced fresh hot coffee after a few mesmerizing undulations.

    We discovered much to love about the Moccamaster, but there also were elements we didn’t adore. Perhaps ironically, they’re about the design. Some love a more hands-on coffee-making process, but some might find that there are just too many moving parts here, literally. We needed to read the directions pretty closely to assemble the parts. Once assembled, and once we digested what was happening brew-process-wise, the machine became fairly easy to operate.

    But each time you use this machine, you have to take the brew basket apart to add a new paper filter (yes, it requires a paper filter, if that makes a difference to you) and coffee grounds, and that basket removal sometimes disrupts the outlet arm and the reservoir lid — not a huge deal, but it could feel like you have to put your coffee maker back together from scratch every morning. Also, the basket lid and outlet arm, through which the hot water travels from the tube to the brew basket, get very hot during the process. It’s fine if you’re aware and cautious, but you wouldn’t want someone to wander up and unknowingly touch the hot part of the brewer.

    And finally, perhaps our most significant beef with this model: When you return the glass carafe to hotplate in between pours, the glass scrapes the warmer in a slightly cringey way.

    The coffee that this striking machine yields, though, may diminish other distractions — we found ourselves moving this maker back to the kitchen counter time and again, because the brew process and its results were superior. If you, like us, are a fan of the Moccamaster, you’re likely to be one for many years to come, which will amortize the steep price tag accordingly.

    CNN Underscored_drip coffee makers_mr coffee body

    We won’t go on and on about the Mr. Coffee 12-Cup, but it brewed a very workable 12 cups, in both taste and temperature, in just nine minutes. The machine came packaged in some pretty intense plastic and cardboard — the unboxing took a full five minutes and a pair of scissors — but once separated from its packaging, this machine’s a breeze to put together. The hardware is very easy to use (and to program to brew at a specific time), even without reading the directions. It’s compact — one of the best small drip coffee makers we tested — and durable, and the lid, brew basket, carafe and removable top half are all dishwasher safe, which wasn’t common among the machines we tested.

    The testing process for these coffee makers was intensive, lasting more than a month. We evaluated each machine based on what would be most important to the user — namely, functionality, durability and design. We tested each machine at least twice (but four to eight times for some) with both dark and light roast freshly ground beans, did a programmed/timed brew when available, and tested the additional functions of the more specialty machines (single-cup, cold brew, tea, milk frothing). We jotted notes about every machine’s unboxing, read every instruction manual, handled and rehandled the hardware, timed the brew of each machine, noted the temperature of the resulting coffee, and tasted and had others taste and weigh in on user experience. We tried to get as acquainted as possible with each of these machines, became fond of a good many of them — and as a result, we drank way too much coffee over the month in question.

    Read on for the categories and their breakdowns.

    Brew function

    • Optimal temperature: We didn’t take the actual temperature of the coffee from each machine, because we don’t think that’s how the average coffee drinker evaluates home brewing — experts recommend that coffee be brewed at between 195 and 205 degrees Fahrenheit, and served immediately, at 180 to 185 degrees — but we scored the perceived temp of each brew against all the others. We tasted each cup immediately after brewing, black, and then with added cold milk, and recorded the results.
    • Taste: The taste of coffee is, obviously, subjective. Two people could spend a lifetime tasting the different coffee varietals and never agree on one. That being said, we tested each machine with both a dark roast and a light roast, keeping the amount of grounds consistent to the machine’s directions. As a result, some machines that recommended using more grounds yielded stronger brews — in those instances, we retested those with less grounds accordingly.
    • Time to brew: For each carafe brewed, we timed the process on an iPhone timer, both for a full carafe and half. For those machines that made single cups, we timed that process as well.
    • Heat retention: We noted whether the machine brewed into a glass or a thermal carafe, and how hot the coffee remained a half hour to an hour after brewing.
    • User-friendliness: We did an initial scan of each machine, evaluating whether a new customer would be able to brew coffee without reading the instruction manual. We then assessed whether the design of each machine is immediately intuitive, and on a more micro level, assessed the settings and buttons on the face of the machine, the markings on the water tank and carafe, how easy the carafe is to fill, and the design of the brew basket.
    • Volume yield: We noted how many ounces each machine can brew.
    • Programmability: We recorded whether you can program the machine to brew at a set time.

    Durability

    • Everyday durability: For this category, we assessed how the machine responded to being handled during setup, filling the water tank, adding the grounds, removing and replacing carafe to serve, cleanup, and how durable the hardware felt.
    • Build quality: We noted what materials the machine is built from, e.g., plastic, metal, brushed metal, glass, and the tangible feel of each machine in a user’s hands.
    • Serviceability: We noted the ease of opening and taking apart the removable parts of each machine, in the case it would need to be serviced.

    Setup and breakdown

    • Ease of assembly: We observed how long it took to unbox the machine, put it together, and do an initial water flush before the product could be used.
    • Size of machine: We assessed how much counter space each machine took up, and how easy it is to move and store.
    • Ease of clean: After each brewing, we took note of how easy it was to clean the brew basket, the carafe, and the surrounding hardware.

    Aesthetic

    • First impression: We observed our first impression of each machine, noting details of design, color, size, feel — whether this machine looked attractive on our counter.
    • Color options: We researched if the machine came in any colors besides black.

    Warranty

    • We checked the number of years of warranty of each machine.

    Ninja Hot and Cold Brewed System ($179.99, originally $199.99; amazon.com)

    We tested two Ninja machines, both of which have some very appealing features. The hot and cold brew system brewed an excellent pot of hot coffee in less than five minutes, as well as a very tasty single cup (in multiple sizes), a less easy feat to perfect. It also brews coffee intended to be served directly over ice, an option that lots of consumers will like. We love the cool, minimalist glass carafe, though the lid features a big hole in the middle for pouring, which can lead to some splashing.

    This machine, though prolific in function, lost points because the water tank — plastic with prominent ridges — feels cheap and devolves the user experience a bit (with this machine, thankfully, the plastic tank is in the back, hidden from view, but does need to be handled every time you add water). Another problem with this machine: The water tank doesn’t have marking measurements, only half carafe, and full carafe, and two sizes of single cup. Without ounce or cup markings, how does one know how much water to add versus amount of coffee grounds? The Ninja machines come with a special-sized coffee scoop, different amounts on each end of the scoop, but it was bothersome that the water and the coffee amounts couldn’t be more standardized without relying only on the provided removable accessories (which, for the record, are cute — there’s a removable frothing wand). A lot of performance features with this machine also means a busy control panel that also feels a bit high-maintenance.

    Ninja Specialty Coffee Maker with Glass Carafe ($159.99; amazon.com)

    The Ninja Specialty is similar to the hot and cold brewed one, with one major difference: The water tank is adjacent to the brew basket, and visible to the eye. This one also brews a very nice cup of hot fresh coffee, and has nifty added functions, too, like myriad sizes of individual cups, half and full carafes, and an over-ice option. The placement of the water tank front and center here, though, makes this one less appealing than the hot and cold option; the tank, similarly, feels flimsy and cheap, a factor that’s difficult to overlook in user experience. For those who like the Ninja brand products (they make blenders and other items), though, there’s a lot of function for your buck here.

    Cuisinart PerfecTemp 14-Cup Programmable Coffeemaker ($99.95, originally $185; amazon.com)

    The most basic of the Cuisinart options we tested, this one brewed a nearly perfect cup at, for this reviewer, a perfectly hot temp (even after adding significant cold milk, we still had a steaming hot cup), thanks to an adjustable carafe temp. This machine is solid and well-designed, with one downside (for us): Brewing time was 14 minutes for eight cups, nearly double the time of some of the other brewers we tested.

    Cuisinart Coffee Center 10-Cup Thermal Coffee Maker and Single Serve Brewer ($200.98, originally $229; amazon.com)

    Our third Cuisinart brews only 10 cups into a thermal carafe, but has the handy bonus feature of a single-serve brew — with an attachment to use prepackaged coffee pods, or an adorable mini filter to use fresh grounds. (Note: The mini filter is a bit of a chore to clean because it is so small.) Like its Cuisinart siblings above, this machine makes good coffee, but the single-serve brewer does make the whole of the hardware more cumbersome. One annoying design issue: There’s an on/off switch on the side of the machine, whose placement feels not intuitive.

    Breville BDC450 Precision Brewer ($299.95; amazon.com)

    We were giddy upon opening this fancy brewer with much to offer: standard brew, fast, gold (what even is that, I wondered at first glance!), cold brew, single cup (with a sold separately attachment), and a customizable to your preferences setting. The options are exciting, but also overwhelming. The user is prompted to enter the consistency of their water, on a hard to soft scale — do all home coffee drinkers know the texture of their tap water? Also, does the average coffee drinker know what Gold Cup certification is? These feel like niche details for an automatic drip machine.

    Big picture, the Breville brewed a good pot of coffee, quite quickly, but we didn’t find it hot enough. The whole apparatus is beautifully designed, with sleek brushed metal and a lightweight, handsome carafe lovely enough to join a brunch table. But digging in further, we found this machine just to be … too much. Too much hardware — it doesn’t fit easily under our cabinets. Too many options — we needed to read up on a bunch of coffee wisdom before we could even set up the machine to our preferences. There are lots of users who would find this machine the sweet spot of function and sophistication, and enjoy exploring all of its specialties, but for those looking for turnkey coffee-making, this is a little extra.

    Black+Decker 12-Cup Programmable Coffeemaker, Black, CM1160B ($19.99; target.com)

    The most affordable automatic drip machine we tested, the Black & Decker 12-cup, is also a solid choice. It brewed eight tasty cups in eight short minutes — overall a good user experience. Hardware-wise, it felt a bit less durable than its closest rival, the Mr. Coffee, but it’s programmable and super easy for near the cost of two lattes with an extra shot.

    Bonavita Connoisseur 8-Cup One-Touch Coffee Maker ($145.99; amazon.com)

    The Bonavita Connoisseur has its fans, but we had multiple issues with the machine. This pleasingly retro-looking apparatus brews a nice cup quickly and at a good temperature, but the user experience leaves much to be desired. Simply put, the design feels flawed. The lid of the carafe needs to be removed before brewing, so the coffee just brews directly into a wide-open carafe — this was so counterintuitive to us, even after three or four brew tries, that it diminished the experience of the brew process. The brewer also gets very hot during brewing — so hot that we wondered if it might actually be a safety issue. Lastly, after brewing, we screwed the carafe lid back on and tried to return the carafe to underneath the brewer — sure, maybe we were still sleepy, maybe not enough caffeine yet — but the carafe doesn’t fit under the brewer with the lid on; the entire top of the machine popped off. This affects storage of the machine, too; because the carafe lid and the brew basket don’t both fit into the hardware at the same time, there’s always one piece loose.

    Read more from CNN Underscored’s hands-on testing:

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  • These 20 stocks were the biggest winners of 2022

    These 20 stocks were the biggest winners of 2022

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    Even during a year in which the S&P 500 index declined 19%, with 72% of its stocks in the red, there were plenty of winners.

    Before showing you the list of the best performers in the benchmark index, let’s look at a preview: Here’s how the 11 sectors of the S&P 500
    SPX,
    -0.25%

    performed for the year:

    Index

    2022 price change

    Forward P/E

    Forward P/E as of Dec. 31, 2021

    Energy

    59.0%

    9.7

    11.1

    Utilities

    -1.4%

    18.9

    20.4

    Consumer Staples

    -3.2%

    21.0

    21.8

    Health Care

    -3.6%

    17.6

    17.2

    Industrials

    -7.1%

    18.3

    20.8

    Financials

    -12.4%

    11.9

    14.6

    Materials

    -14.1%

    15.8

    16.6

    Real Estate

    -28.4%

    16.5

    24.2

    Information Technology

    -28.9%

    20.1

    28.1

    Consumer Discretionary

    -37.6%

    21.3

    33.2

    Communication Services

    -40.4%

    14.3

    20.8

    S&P 500

    -19.4%

    16.8

    21.4

    Source: FactSet

    Maybe you aren’t surprised to see that the energy sector was the only one to increase during 2022. But it might surprise you to see that despite the sector’s weighted price increase of 59%, its forward price-to-earnings ratio declined and remains very low relative to all other sectors.

    It might also surprise you that West Texas Intermediate crude oil
    CL.1,
    +2.69%

    gave up most of its gains from earlier in the year:


    FactSet

    The reason investors are still confident in energy stocks is that oil producers have remained cautious when it comes to capital spending. They don’t want to increase supply enough to cause prices to crash, as they did in the run-up to the summer of 2014, after which prices fell steadily through early 2016, causing bankruptcies and consolidation in the industry.

    Now the oil companies are focusing on maintaining supply, raising dividends and buying back shares, as Occidental Petroleum Corp.’s
    OXY,
    +1.14%

    chief executive explained in a recent interview with Matt Peterson. Click here for more about Occidental and the long-term supply/demand outlook for oil.

    Best-performing S&P 500 stocks of 2022

    Here are the 20 stocks in the benchmark index that rose most during 2022, excluding dividends. Proving that there are always exceptions, not all of them are in the energy sector.

    Company

    Ticker

    Sector

    Industry

    2022 price change

    Occidental Petroleum Corp.

    OXY,
    +1.14%
    Energy

    Oil & Gas Production

    117.3%

    Hess Corp.

    HES,
    +0.68%
    Energy

    Oil & Gas Production

    91.6%

    Marathon Petroleum Corp.

    MPC,
    +0.18%
    Energy

    Oil Refining/ Marketing

    81.9%

    Exxon Mobil Corp.

    XOM,
    +1.01%
    Energy

    Integrated Oil

    80.3%

    Schlumberger Ltd.

    SLB,
    +1.04%
    Energy

    Contract Drilling

    78.5%

    APA Corp.

    APA,
    +1.68%
    Energy

    Integrated Oil

    73.6%

    Halliburton Co.

    HAL,
    +1.23%
    Energy

    Oil & Gas Production

    72.1%

    First Solar Inc.

    FSLR,
    +0.68%
    Information Technology

    Semiconductors

    71.9%

    Valero Energy Corp.

    VLO,
    +0.43%
    Energy

    Oil Refining/ Marketing

    68.9%

    Marathon Oil Corp.

    MRO,
    +1.08%
    Energy

    Oil & Gas Production

    64.9%

    ConocoPhillips

    COP,
    +1.38%
    Energy

    Oil & Gas Production

    63.5%

    Steel Dynamics Inc.

    STLD,
    -0.72%
    Materials

    Steel

    57.4%

    EQT Corp.

    EQT,
    -0.12%
    Energy

    Oil & Gas Production

    55.1%

    Chevron Corp.

    CVX,
    +0.66%
    Energy

    Integrated Oil

    53.0%

    McKesson Corp.

    MCK,
    Health Care

    Medical Distributors

    50.9%

    Cardinal Health Inc.

    CAH,
    -0.46%
    Health Care

    Medical Distributors

    49.3%

    EOG Resources Inc.

    EOG,
    +0.69%
    Energy

    Oil & Gas Production

    45.8%

    Enphase Energy Inc.

    ENPH,
    -0.20%
    Information Technology

    Semiconductors

    44.8%

    Merck & Co. Inc.

    MRK,
    +0.12%
    Health Care

    Pharmaceuticals

    44.8%

    Cigna Corp.

    CI,
    +0.19%
    Health Care

    Managed Health Care

    44.3%

    Source: FactSet

    Click on the tickers for more information about the companies.

    Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.

    Don’t Miss: These 20 stocks were the biggest losers of 2022

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  • The best food marketing stunts of the year | CNN Business

    The best food marketing stunts of the year | CNN Business

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    New York
    CNN
     — 

    Comically oversized snack foods. A cocktail infused with processed cheese. And a fine dining establishment for feline lovers.

    In 2022, there were plenty of restaurants, food manufacturers and at least one artist collective that tried to break through with their shenanigans.

    These food stunts were often outrageous and sometimes regrettable. But only a few unleashed items that made us say, “wait, what? Why would you do that? Who would eat that?” And, occasionally: “that actually sounds pretty good.”

    Here’s what caught our attention this year.

    Over the summer, Kraft Heinz

    (KHC)
    introduced a new cocktail: The Veltini, a martini made with Velveeta-infused vodka, olive brine and vermouth, garnished with Velveeta-stuffed olives and Velveeta-stuffed shells. The concoction was available for a limited time at BLT steakhouses in New York, Washington, D.C., Charlotte and elsewhere.

    The drink was part of Kraft Heinz’s broader efforts to reinvigorate the Velveeta brand after it saw sales of the processed cheese jump during the pandemic. To help Velveeta stage a comeback, the brand launched a new ad campaign, made tweaks to its logo and sold a cheese-scented nail polish.

    The Veltini made a splash, even though (or perhaps because) those brave enough to try it were unenthused.

    One Washington Post writer said it looked “like a deranged cheese monster, with olives as beady eyes and a dripping Velveeta cheese rim as a lopsided mouth.” The Today Show’s Hoda Kotb tried it on air, reluctantly, and was not a fan. “Yuck,” she said, “No, girl, no.” Her co-host, Jenna Bush Hager, said it wasn’t bad.

    This cereal is supposed to be eaten with orange juice.

    To be clear, this isn’t orange juice cereal: It’s cereal designed to be eaten with orange juice instead of milk. OJ-maker Tropicana sold the honey almond cereal for a limited time in May in honor of National Orange Juice Day.

    The brand acknowledged that people might not be into the combination. “Whether you hate it or love it, you won’t know until you try it,” Tropicana said. “It may not be for everyone.”

    One reviewer who gave the franken-breakfast a shot described it as “​​not bad,” adding “I can’t imagine eating a bowl of this every day.”

    Plus, she said, it didn’t taste like it was supposed to go with orange juice specifically. “There’s absolutely nothing different from other cereals.”

    Oscar Maye's

    In August, Oscar Mayer, also owned by Kraft Heinz, introduced the “Cold Dog”: A hot-dog flavored popsicle. The item was sold for a limited time at Popbar locations in New York City, New Orleans and elsewhere.

    The idea came from a June Instagram post by Oscar Mayer which asked followers whether the idea was “genius” or “stupid.” Comments on the post range from horrified to intrigued. Enough people were interested to give Oscar Mayer the green light.

    “After the overwhelming fan excitement for our beloved Cold Dog, it was a no-brainer to make this hot dog-inspired frozen pop a reality,” Anne Field, an Oscar Mayer spokesperson, said in a press release at the time.

    So how did it taste? In at least one reviewer’s opinion, pretty good.

    “I was beyond skeptical of how they could make a hot dog popsicle taste good. And somehow, they managed to do it!” according to a writer at Delish, who noted that Popbar uses gelato as the base for its pops. “The gelato is extremely creamy and has a strong smokey flavor that balances out the popsicle’s delicate sweetness. The sweet ‘mustard’ drizzle makes it taste more like a proper ice cream.”

    A Big Cheez-It is 16 times larger than a regular Cheez-It.

    In late June, Taco Bell tested out an item called a “Big Cheez-It Tostada.” As the name implies, it’s a tostada which used a Big Cheez-It — specifically, a Cheez-It 16 times larger than a regular one — as its base. The chain also tested out a “Big Cheez-It Crunchwrap Supreme,” which included the giant Cheez-It within the wrap.

    The items were available for a limited-time at one Taco Bell location. On July 3, within a week of the launch, Taco Bell reported that the items had already sold out. “The Big Cheez-It Tostada and Big Cheez-It Crunchwrap are in such Big demand that our limited offer is no longer available,” the chain said.

    Reviewers who tried the item were mixed. “Very cheesy, mmm” said one. Another concluded that “it’s not bad, it’s just weird.” Some noted that the Cheez-It, big though it may be, was not strong enough to maintain the weight of the toppings.

    A large Cheez-It was also utilized by Pizza Hut in 2019, when the pizza chain introduced its stuffed Cheez-It pizza. The limited-time item included “four baked jumbo squares” stuffed with cheese or pepperoni and cheese, and came with a side of marinara sauce for dipping.

    We're gonna need a bigger boat.

    Unlike the Big Cheez-It Tostada, the Big Froot Loop is an unauthorized creation, made by the artist collective MSCHF.

    The loop weighs nearly half a pound, is 930 calories and recently went on sale for $19.99. MSCHF tried to make the big loop taste as much as possible like the real thing, according to MSCHF’s co-founder Daniel Greenberg.

    “We look at things in culture and figure out how to make a twist on it,” Greenberg previously told CNN. The thinking behind the project was straightforward: “Let’s make a big f—ing fruit loop and that was it.” According to the MSCHF site, the item, which went on sale December 19, is already sold out.

    Kellogg’s, which makes actual Froot Loops, was not into it.

    “Kellogg Company does not have a relationship with MSCHF and we were not involved in the creation of the Big Fruit Loop,” Kellogg spokesperson Kris Bahner previously told CNN in a statement. “The campaign does not accurately depict the Kellogg’s brand.”

    Bahner added that “given the trademark infringement and unauthorized use of our brand, we have reached out to the company seeking an amicable resolution.”

    A dish at

    Over the summer, Fancy Feast invited people to answer the question: What does cat food taste like? Well, sort of.

    The cat food maker briefly opened a restaurant called “Gatto Bianco by Fancy Feast” in New York City in August. Gatto Bianco was open for just two nights, with four seatings per night.

    The restaurant dishes drew inspiration from Fancy Feast Medleys, cat food that is itself inspired by human food like salmon primavera and turkey florentine. The restaurant’s menu was created by Amanda Hassner, in-house chef for Fancy Feast, as well as restaurateur Cesare Casella, a Michelin star winner, according to a Fancy Feast press release.

    “Food has the power to connect us to others in meaningful ways and take us to places we have never been,” Hassner said in a statement at the time. “The same is true for our cats.”

    Hassner added that “the dishes at Gatto Bianco are prepared in ways that help cat owners understand how their cats experience food — from flavor, to texture, to form.” On the menu, according to OpenTable, were baked sea bass, spare ribs, salmon, braised beef and for dessert, panna cotta, almond cake and affogato.

    A Mashable reporter dined at the exclusive restaurant and reported that “the food is tasty,” and the atmosphere feline. “The design of the restaurant itself is practically an Instagram installation for the cat-obsessed, complete with ornate cat wallpaper, gold-embellished Fancy Feast cloth napkins, and cat art (as in, artwork of cats, not art made by cats).”

    Papa Bowls are all topping, no crust.

    As a permanent addition to the Papa Johns menu, the no-crust, toppings-only Papa Bowls are technically not a stunt.

    But the menu offering was so polarizing when it launched in August that we had to give it a nod.

    The bowls were devised to help combat pandemic-induced pizza fatigue by giving Papa Johns customers an option that was, let’s say, pizza adjacent. The company also hoped that the bowls would eliminate the “veto vote,” when a restaurant is ruled out because it doesn’t have enough options for everyone in the dining party.

    The bowls come in three varieties: Chicken Alfredo; Italian Meats Trio with pepperoni, sausage and meatballs; and Garden Veggie. There’s also a build-your-own option.

    The announcement made quite a splash. Comedian Jon Stewart, who has made repeated jabs at Arby’s, said he owed an apology to the chain upon seeing news of the Papa Bowl. At least one YouTube reviewer panned the bowls, saying it was gross and slimy. But some people thought it was a good idea.

    And during a November analyst call, Papa Johns CEO Rob Lynch said the bowls are “performing well and in line with our expectations.”

    — Zoe Sottile and CNN’s Jordan Valinsky contributed to this report.

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  • You may be seeing a more ‘woke’ Santa this Christmas | CNN

    You may be seeing a more ‘woke’ Santa this Christmas | CNN

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    CNN
     — 

    On a frigid December night outside a suburban Chicago church, a group of parents and wide-eyed children line up to see Santa Claus.

    He awaits them with the classic St. Nick look: pink, cherubic cheeks, twinkling eyes, a gray beard and a plump belly – squeezed into a red suit with white fur trim – that shakes “like a bowl full of jelly” when he laughs.

    But when a thin teenager with ripped jeans, tousled hair and a gray hoodie sits down next to him, it soon becomes clear that this is no ordinary Santa.

    “Nice to meet you. I’m Trans Santa,” he says. He looks at the teenager and asks: “Pronouns?”

    “They, them,” the teen answers, looking up with surprise.

    What follows is not a kid asking for toys or dolls, but a young person asking for help. They tell Santa their Christmas wish is to come out fully to their parents and dress in a way that conforms to their gender identity.

    Later, Santa sighs as if he was the one who was handed a gift.

    “That definitely was an emotional moment for me,” Levi Truax, the man in the Santa suit, told CNN. Truax lives in Chicago, works at Starbucks and himself transitioned in his late 30s. “That would have made a difference for me when I was a kid. Just having the knowledge to put a name to what I felt as a kid would have been really empowering.”

    This scene comes from “Santa Camp,” a moving new documentary film about this push for diversity. The film airs on HBO Max, which like CNN is owned by Warner Bros. Discovery.

    Santa Claus has traditionally been portrayed as a jolly, white guy, but Truax represents a push for diversity in the Santa industry that has accelerated in recent years. In some parts of the US, the traditional definition of Santa as a straight White guy who heads out to work while Mrs. Claus stays at home baking cookies just won’t fly anymore.

    Just as there’s been a campaign to include more characters of color and LGBTQ characters in comic books and fantasy television series, there’s also been a drive to broaden traditional representations of Santa. These efforts include a Tex-Mex Santa named Pancho Claus, Asian Santas, a “Sensory Santa” for kids with special needs, and a recent ad depicting Santa Claus in a gay relationship.

    And, of course, there are Black Santas, who are in such high demand that one such Santa said he earns up to $60,000 each holiday season.

    These nontraditional Saint Nicks represent a new type of Santa who, as one T-shirt proclaims, “knows when you aren’t sleeping and knows when you aren’t woke.”

    “Santa Camp” follows a group of professional and apprentice Santas and Mrs. Clauses as they attend a summer camp organized by the New England Santa Society. The group said they invited Trans Santa, a Black Santa, and a Santa with special needs in part because of market demand — some parents these days are looking for Santas their kids will relate to.

    “How can one of the most beloved traditions in the world find its place in a changing America, and can it adapt?” said Nick Sweeney, the film’s director. “I think what we see in the film is that the answer is yes.”

    What others see, though, is something more disturbing. They see diverse Santas as something that could harm and confuse kids while ruining a cherished holiday tradition. The Mall of America in Minnesota faced a backlash on social media after it featured a Black Santa at a holiday event in 2016.

    Some started using the term “woke Santa” after a mall Santa in Illinois two years ago refused a boy’s request for a toy gun for Christmas.

    Their defense of a White Santa is part of a larger backlash against what some call “wokeism.” Merriam-Webster dictionary defines “woke” as being “aware and actively attentive” to systemic racial injustice and prejudice. Some critics, though, have redefined the term to mean a silly, overindulgent bow to political correctness.

    Some of those critics staged a counter demonstration against Trans Santa’s appearance at the Chicago church, chanting, “Save Santa!” and yelling, “You sit on a throne of lies.” Others left messages on the church’s voicemail, saying transgender people have mental issues and threaten the safety of children.

    A Santa Claus attending a Toys For Tots program on December 15, 2021 in New York City.

    Resistance to a more diverse Santa has been simmering for years alongside some conservatives’ complaints about the so-called secular “War on Christmas.” In 2013 former Fox News anchor Megyn Kelly declared that Santa, and Jesus, were white. One conservative blogger dismissed calls for a Black Santa, saying Santa should remain White because the origins of his legend reside in Northern Europe.

    “The real reason why black left-wingers object to a white Santa is that they are determined to condition black children to distrust white people and they cannot live with the image of our kids – especially the black ones – receiving gifts from a white man,” wrote Graham J. Noble.

    Another critic, responding to the mall Santa who declined to give a kid a toy gun, said the push for a diverse Santa is becoming absurd. Larry Keane, an advocate for the firearms industry, wrote in an essay that “all I want for Christmas is the real Santa, not a woke Santa.”

    Keane, who did not respond to an interview request, wrote:

    “Political correctness is has gone too far. It’s traveled from the Washington D.C. swamps to the frigid Arctic air of the North Pole. It’s infected Kris Kringle and next thing you know, Santa will be demanding the kids leave out nonfat soy milk and vegan snack bites in lieu of milk-and-cookies.”

    Some may find it curious that a jolly character like Santa inspires such sarcasm and anger. But the stories we tell children have long been a source of bitter debate. Some critics recently complained that the main character in a remake of “The Little Mermaid” shouldn’t be Black. The casting of a Black girl in an “Annie” remake drew similar controversy.

    Robin DiAngelo, author of the bestseller “White Fragility,” said in a recent interview that the debates over the color of fictional characters represents a larger issue: White supremacy insists that white people should be “the center” and “ultimate representation” of what it means to be human.

    “The irony,” DiAngelo told Yahoo News, is that “on the one hand, white people insist that ‘we don’t see color’ — and then we lose our minds when Santa is not the color that he’s ‘supposed’ to be.”

    Allan Siu, dressed as Santa Claus, emerges from his dressing room on December 8, 2022, at the Mall of America in Bloomington, Minnesota. Siu is the first Asian Santa the mall has ever had.

    She added, “Given that most white people live segregated lives, I think it’s really important — not just for Black children to see themselves reflected in valuable symbols, but it’s really important for white children to see it too.”

    One character in “Santa Camp” discovered firsthand how fraught the journey can be for a nontraditional Santa.

    Chris Kennedy made headlines several years back when he received a racist and threatening note for erecting a Black Santa on his lawn in Little Rock, Arkansas. The incident inspired him to don a Santa suit over his imposing frame and attend Santa Camp.

    The documentary shows Kennedy at a Christmas festival in Arkansas as a Black Santa, where his appearance sparks some strong reactions. In the film, the festival’s organizer says some White families refused to take their kids to see Kennedy because they believe Santa should be white.

    Yet the film also shows both Black and White families who say they brought their kids specifically to see a Black Santa. Black kids, in particular, jump for joy when they see him. So do some of their parents.

    “When I was little, Santa was white,” one Black mother tells a smiling Kennedy after he greets her with, “Bro, ho, ho.”

    “He was whatever someone else decided Santa to be,” she adds.

    In the film, Kennedy shakes his head after meeting the kids and their parents.

    “There were families that traveled over 300 miles to be here,” he says. “That was very rewarding. But it … also gave me a sense of sadness, that there are not Black Santas closer.”

    Some White parents who refused to see Kennedy might have changed their minds if they knew Santa’s history. The first Santa – or at least the man he was modeled after – was probably brown. The Santa legend can be traced back to a monk named St. Nicholas, who lived in modern-day Turkey and was known for his generosity and as a protector of children.

    An undated Coca-Cola advertising poster shows a young boy surprising Santa Claus.

    Santa has evolved in other ways. The name Santa Claus comes from a shortened version of Saint Nicholas in Dutch, “Sinterklaas.” Dutch immigrants later brought that tradition to America. The 19th-century authors Clement Moore and Washington Irving popularized Saint Nicholas stories.

    But it’s the Coca-Cola company which is widely credited with spreading the modern image of the twinkly-eyed, White Santa. In the 1930s, Coca-Cola hired an illustrator to create portraits of a cuddly Santa Claus in a red and white suit to boost sales during its slow winter season.

    The push for a more diverse Christmas, though, isn’t restricted to Santa. There’s also a campaign to “sleigh the patriarchy” by transforming Mrs. Claus into a feminist icon.

    Mrs. Claus plays a prominent role in “Santa Camp.” Trans Santa is accompanied by his wife, Heidi Truax, who goes by the name Dr. Claus (she has a doctorate) and has co-written a book for kids called “You Can Be a Claus Too: Lessons from Santa Camp.”

    The film also illuminates a growing wish by women to show their daughters more assertive representations of the traditional Mrs. Claus. More Mrs. Clauses are demanding equal pay and billing when they appear with Santa at events, the documentary shows.

    Levi Truax, known as Trans Santa, and his wife Heidi Truax, known as Dr. Claus, in a scene from

    One scene in “Santa Camp” shows a mother steering her daughters to Mrs. Claus and asking her to teach them that it’s okay to be assertive.

    “Young girls need to speak up and say what’s on their mind,” Dianne Grenier, who goes by Mrs. Merry Claus, tells the wide-eyed girls. “That’s why I spoke up to Santa and said, ‘You know I’ve been quiet all these years and being a good little wife, but now it’s my turn. See how you like sitting at home.’”

    The scene ends with a little boy looking on in silence, his brow bunched in confusion.

    The campaign for a more diverse Santa is also a push to remove sexism from the holidays, others say.

    Maureen Shaw, founder of sherights.com, an online magazine devoted to women’s rights, wrote an essay stating that sexism at Christmas “is as American as Santa, sugar cookies and caroling.”

    Women, for example, are expected to bear the brunt of holiday preparations, she said. Retailers “perpetuate gender binaries” by filling girls’ sections with frilly dresses and princess castles and boys’ sections with pants and electronic toys.

    “To assume that my daughter wants a doll or that my son wouldn’t be interested in a princess toy because of their sexes is problematic,” Shaw tells CNN. “It reinforces gender stereotypes, which implicitly sets limits on what they can or should take an interest in. It may seem silly to skeptics, but consistently gifting girls kitchen sets, dolls and princess toys lays the foundation for what’s expected of them as they grow up.”

    Those who say the more diverse representations of Santa betray the values of the holiday season may be forgetting about another iconic Christmas character: Rudolph the Red-Nosed Reindeer.

    Rudolph, if you recall, was mocked by his peers because his bulbous red nose made him different. But Santa Claus saw the value in Rudolph’s luminous nose and asked him to lead his sleigh that night, transforming him into a Christmas hero.

    The story of Rudolph was written in 1939 by a Jewish Chicago copywriter named Robert May, and was adapted into a stop-motion TV special that first aired in 1964. It has become one of the longest-running Christmas TV events in history. Paul Soles, who provided one of the voices in the television special, once explained why Rudolph’s story is so enduring.

    “Everybody’s been to some degree separated out, found wanting, not quite fully fitting in,” said Soles, who also grew up Jewish.

    Not fitting in is something that the Trans Santa outside the Chicago church can relate to. Truax said he grew up isolated and confused in suburban Detroit because he felt like he was in the wrong body. When he finally came out as transgender, he said his father was supportive.

    Others in his situation aren’t as lucky. Just over half of all transgender and nonbinary young people in the US contemplated taking their lives in 2020, according to The Trevor Project’s third annual National Survey on LGBTQ Youth Mental Health.

    Santa Claus waits for visitors  at the King of Prussia Mall in  Pennsylvania on November 22, 2019. One expert on race says White people can become upset

    The teenager who greets Trans Santa in the film hints at some of that struggle. They tell Santa they want to get a binder, a compression undergarment to flatten breasts for teens who identify as gender-nonconforming or transgender.

    Truax smiles and nods knowingly. As he talks, a string of Christmas lights on four evergreen trees behind them illuminate the December sky.

    “I know when I got my first binder, it changed me,” Truax tells his visitor. “It empowered me to have the body of the person I wanted to be.”

    The teenager looks up to Santa, their face brightening in a smile.

    “It’s very empowering being in your presence,” they say.

    They then stand up and pump their left fist in triumph, a new bounce in their step.

    For some, such a scene has nothing to do with the holiday. But for this kid, meeting a Santa who understands their journey might be one of best Christmas gifts ever.

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  • New York City’s ban on foie gras violates law, New York state says | CNN

    New York City’s ban on foie gras violates law, New York state says | CNN

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    CNN
     — 

    The State of New York has determined that New York City’s ban on foie gras, stuffed goose or duck liver, violates state law, according to documents filed in New York City Superior Court.

    The state Department of Agriculture and Markets informed city officials Wednesday that the ban “unreasonably restricts” the operations of two farms that sued the city over the ban, La Belle Farm and Hudson Valley Foie Gras.

    New York City had originally passed a bill in 2019 to ban restaurants and retailers from selling the fatty duck or goose liver, considered a delicacy by some.

    In a letter to New York Mayor Eric Adams and Division of Legal Counsel Chief Stephen Louis, the department requested that the “City confirm that it will not enforce its ban on the sale of force-fed products” marketed by Hudson Valley Foie Gras and La Belle Farm.

    The city ban on foie gras was to go into effect November 25. However, a state Supreme Court judge in September put the ban on hold as the lawsuit by the two Upstate New York Farms proceeded through the courts.

    The original bill to ban foie gras called the luxury good a “force-fed product” and, in a statement to CNN in 2019, city Councilwoman Carlina Rivera – the prime sponsor of the bill – called force-feeding an “inhumane practice.”

    What makes foie gras so contentious is the method of preparation. Foie gras is made of fattened duck or goose liver, and it has long been considered a French delicacy – so much that France has protected it as part of its cultural heritage.

    But the product is made by force-feeding ducks or geese, a practice that many people, like Rivera, have found troubling.

    “As a lifelong advocate for animal rights, I am excited that the Council has voted to pass this historic legislation to ban the sale of these specific force-fed animal products,” Rivera said in 2019.

    Foie gras has long been a point of contention.

    In 2012, California’s foie gras ban went into effect, only to have the ban overturned in 2015. Then, in 2017, the ban was upheld by a circuit court judge – a decision that was backed by the US Supreme Court in January 2019.

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  • Why people in China are panic buying canned yellow peaches as Covid surges | CNN Business

    Why people in China are panic buying canned yellow peaches as Covid surges | CNN Business

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    Hong Kong
    CNN
     — 

    An unprecedented wave of Covid cases in China has sparked panic buying of fever medicines, pain killers, and even home remedies such as canned peaches, leading to shortages online and in stores.

    Authorities said Wednesday they had detected 2,249 symptomatic Covid-19 cases nationally through nucleic acid testing, 20% of which were detected in the capital Beijing. CNN reporting from the city indicates the case count in the Chinese capital could be much higher than recorded.

    Demand for fever and cold medicines, such as Tylenol and Advil, is surging nationally as people rush to stockpile drugs amid fears they may contract the virus.

    Canned yellow peaches, considered a particularly nutritious delicacy in many parts of China, have been snapped up by people looking for ways to fight Covid. The product is currently sold out on many online shops.

    Its sudden surge in popularity prompted Dalian Leasun Food, one of the country’s largest canned food manufacturers, to clarify in a Weibo post that canned yellow peaches don’t have any medicinal effect.

    “Canned yellow peaches ≠ medicines!” the company said in the post published Friday. “There is enough supply, so there is no need to panic. There is no rush to buy.”

    The People’s Daily, the mouthpiece of the Communist Party, also tried to set the record straight. It published a long Weibo post on Sunday urging the public not to stockpile the peaches, calling them “useless in alleviating symptoms of illness.”

    Authorities also pleaded with the public not to stockpile medical supplies. On Monday, the Beijing city government warned residents that it was facing “great pressure” to meet demand for drug and medical services because of panic buying and an influx of patients at clinics.

    It urged the public not to hoard drugs or call emergency services if they have no symptoms.

    The rising demand and shortage of supply of Covid remedies have fueled bets on drugmakers.

    Shares of Hong Kong-listed Xinhua Pharmaceutical, China’s largest manufacturer of ibuprofen, have gained 60% in the past five days. The stock has so far jumped by 147% in the first two weeks of this month.

    “Our company’s production lines are operating at full capacity, and we are working overtime to produce urgently needed medicines, such as ibuprofen tablets,” Xinhua Pharmaceutical said Monday.

    Ibuprofen is an anti-inflammatory drug used to treat pain and fever. It is also known as Advil, Brufen, or Fenbid.

    The drug shortage has spread from mainland China to Hong Kong, a special administrative region which has a separate system of local government. On Sunday, the city’s health chief urged the public to refrain from panic buying cold medicines they do not need and urged residents “not to overact.”

    In some Hong Kong drugstores, fever drugs such as Panadol, the local brand name for Tylenol, have sold out. Most of the buyers were sending the medicines to their families and friends in the mainland, sales representatives told CNN.

    Shares of Shenzhen-listed Guizhou Bailing Group Pharmaceuticals, known for making cough syrup, have gained 21% this week and risen 51% so far this month. Yiling Pharmaceutical, the sole producer of Lianhua Qingwen, a traditional Chinese medicine recommended by the government for treating Covid, has also jumped more than 30% in the past month.

    Even providers of funeral services and burial plots have gotten a huge boost. Shares in Hong Kong-traded Fu Shou Yuan International, China’s largest burial service company, have soared more than 50% since last month.

    There is “strong pent-up demand for burial plots” in 2023, analysts from Citi Group said in a recent research report, adding that they’ve noticed increasing investor interest in the sector.

    They cited the existence of hundreds of thousands of cremated remains, which are being temporarily stored in government facilities awaiting burial. Lockdowns across much of the country have halted funeral services, they said.

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  • Best stock picks for 2023: Here are Wall Street analysts’ most heavily favored choices

    Best stock picks for 2023: Here are Wall Street analysts’ most heavily favored choices

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    Following a sharp and sustained rise in interest rates, U.S. stocks have taken a broad beating this year.

    But 2023 may bring very different circumstances.

    Below are lists of analysts’ favorite stocks among the benchmark S&P 500
    SPX,
    the S&P 400 Mid Cap Index
    MID
    and the S&P Small Cap 600 Index
    SML
    that are expected to rise the most over the next year. Those lists are followed by a summary of opinions of all 30 stocks in the Dow Jones Industrial Average
    DJIA.

    Stocks rallied on Dec. 13 when the November CPI report showed a much slower inflation pace than economists had expected. Investors were also anticipating the Federal Open Market Committee’s next monetary policy announcement on Dec. 14. The consensus among economists polled by FactSet is for the Federal Reserve to raise the federal funds rate by 0.50% to a target range of 4.50% to 4.75%.

    Read: 5 things to watch when the Fed makes its interest-rate decision

    A 0.50% increase would be a slowdown from the four previous increases of 0.75%. The rate began 2022 in a range of zero to 0.25%, where it had sat since March 2020.

    A pivot for the Fed Reserve and the possibility that the federal funds rate will reach its “terminal” rate (the highest for this cycle) in the near term could set the stage for a broad rally for stocks in 2023.

    Wall Street’s large-cap favorites

    Among the S&P 500, 92 stocks are rated “buy” or the equivalent by at least 75% of analysts working for brokerage firms. That number itself is interesting — at the end of 2021, 93 of the S&P 500 had this distinction. Meanwhile, the S&P 500 has declined 16% in 2022, with all sectors down except for energy, which has risen 53%, and the utilities sector, which his risen 1% (both excluding dividends).

    Here are the 20 stocks in the S&P 500 with at least 75% “buy” or equivalent ratings that analysts expect to rise the most over the next year, based on consensus price targets:

    Company

    Ticker

    Industry

    Closing price – Dec. 12

    Consensus price target

    Implied 12-month upside potential

    Share “buy” ratings

    Price change – 2022 through Dec. 12

    EQT Corp.

    EQT Oil and Gas Production

    $36.91

    $59.70

    62%

    78%

    69%

    Catalent Inc.

    CTLT Pharmaceuticals

    $45.50

    $72.42

    59%

    75%

    -64%

    Amazon.com Inc.

    AMZN Internet Retail

    $90.55

    $136.02

    50%

    91%

    -46%

    Global Payments Inc.

    GPN Misc. Commercial Services

    $99.64

    $147.43

    48%

    75%

    -26%

    Signature Bank

    SBNY Regional Banks

    $122.73

    $180.44

    47%

    78%

    -62%

    Salesforce Inc.

    CRM Software

    $133.11

    $195.59

    47%

    80%

    -48%

    Bio-Rad Laboratories Inc. Class A

    BIO Medical Specialties

    $418.28

    $591.00

    41%

    100%

    -45%

    Zoetis Inc. Class A

    ZTS Pharmaceuticals

    $152.86

    $212.80

    39%

    87%

    -37%

    Delta Air Lines Inc.

    DAL Airlines

    $34.77

    $48.31

    39%

    90%

    -11%

    Diamondback Energy Inc.

    FANG Oil and Gas Production

    $134.21

    $182.33

    36%

    84%

    24%

    Caesars Entertainment Inc

    CZR Casinos/ Gaming

    $50.27

    $67.79

    35%

    81%

    -46%

    Alphabet Inc. Class A

    GOOGL Internet Software/ Services

    $93.31

    $125.70

    35%

    92%

    -36%

    Halliburton Co.

    HAL Oilfield Services/ Equipment

    $34.30

    $45.95

    34%

    86%

    50%

    Alaska Air Group Inc.

    ALK Airlines

    $45.75

    $61.08

    34%

    93%

    -12%

    Targa Resources Corp.

    TRGP Gas Distributors

    $70.42

    $93.95

    33%

    95%

    35%

    Charles River Laboratories International Inc.

    CRL Misc. Commercial Services

    $201.94

    $269.25

    33%

    88%

    -46%

    ServiceNow Inc.

    NOW Information Technology Services

    $401.64

    $529.83

    32%

    92%

    -38%

    Take-Two Interactive Software Inc.

    TTWO Software

    $102.61

    $135.04

    32%

    79%

    -42%

    EOG Resources Inc.

    EOG Oil and Gas Production

    $124.06

    $158.24

    28%

    82%

    40%

    Southwest Airlines Co.

    LUV Airlines

    $38.94

    $49.56

    27%

    76%

    -9%

    Source: FactSet

    Most of the companies on the S&P 500 list expected to soar in 2023 have seen large declines in 2022. But the company at the top of the list, EQT Corp.
    EQT,
    is an exception. The stock has risen 69% in 2022 and is expected to add another 62% over the next 12 months. Analysts expect the company’s earnings per share to double during 2023 (in part from its expected acquisition of THQ), after nearly a four-fold EPS increase in 2022.

    Shares of Amazon.com Inc.
    AMZN
    are expected to soar 50% over the next year, following a decline of 46% so far in 2022. If the shares were to rise 50% from here to the price target of $136.02, they would still be 18% below their closing price of 166.72 at the end of 2021.

    Read: Here’s why Amazon is Citi’s top internet stock idea

    You can see the earnings estimates and more for any stock in this article by clicking on its ticker.

    Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.

    Mid-cap stocks expected to rise the most

    The lists of favored stocks are limited to those covered by at least five analysts polled by FactSet.

    Among components of the S&P 400 Mid Cap Index, there are 84 stocks with at least 75% “buy” ratings. Here at the 20 expected to rise the most over the next year:

    Company

    Ticker

    Industry

    Closing price – Dec. 12

    Consensus price target

    Implied 12-month upside potential

    Share “buy” ratings

    Price change – 2022 through Dec. 12

    Arrowhead Pharmaceuticals Inc.

    ARWR Biotechnology

    $31.85

    $69.69

    119%

    83%

    -52%

    Lantheus Holdings Inc.

    LNTH Medical Specialties

    $54.92

    $102.00

    86%

    100%

    90%

    Progyny Inc.

    PGNY Misc. Commercial Services

    $31.21

    $55.57

    78%

    100%

    -38%

    Coherent Corp.

    COHR Electronic Equipment/ Instruments

    $35.41

    $60.56

    71%

    84%

    -48%

    Exelixis Inc.

    EXEL Biotechnology

    $16.08

    $26.07

    62%

    81%

    -12%

    Darling Ingredients Inc.

    DAR Food: Specialty/ Candy

    $61.17

    $97.36

    59%

    93%

    -12%

    Perrigo Co. PLC

    PRGO Pharmaceuticals

    $31.83

    $49.25

    55%

    100%

    -18%

    Mattel Inc.

    MAT Recreational Products

    $17.39

    $26.58

    53%

    87%

    -19%

    ACI Worldwide Inc.

    ACIW Software

    $20.75

    $31.40

    51%

    83%

    -40%

    Topgolf Callaway Brands Corp.

    MODG Recreational Products

    $21.99

    $32.91

    50%

    83%

    -20%

    Dycom Industries Inc.

    DY Engineering and Construction

    $86.03

    $128.13

    49%

    100%

    -8%

    Travel + Leisure Co.

    TNL Hotels/ Resorts/ Cruiselines

    $37.98

    $56.00

    47%

    75%

    -31%

    Frontier Communications Parent Inc.

    FYBR Telecommunications

    $25.21

    $36.18

    44%

    82%

    -15%

    Manhattan Associates Inc.

    MANH Software

    $120.06

    $171.80

    43%

    88%

    -23%

    MP Materials Corp Class A

    MP Other Metals/ Minerals

    $31.39

    $44.79

    43%

    92%

    -31%

    Lumentum Holdings Inc.

    LITE Electrical Products

    $54.45

    $76.44

    40%

    76%

    -49%

    Tenet Healthcare Corp.

    THC Hospital/ Nursing Management

    $44.22

    $62.00

    40%

    80%

    -46%

    Repligen Corp.

    RGEN Pharmaceuticals

    $166.88

    $233.10

    40%

    82%

    -37%

    STAAR Surgical Co.

    STAA Medical Specialties

    $59.57

    $82.67

    39%

    82%

    -35%

    Carlisle Cos. Inc.

    CSL Building Products

    $251.99

    $348.33

    38%

    75%

    2%

    Source: FactSet

    Wall Street’s favorite small-cap names

    Among companies in the S&P Small Cap 600 Index, 91 are rated “buy” or the equivalent by at least 75% of analysts. Here are the 20 with the highest 12-month upside potential indicated by consensus price targets:

    Company

    Ticker

    Industry

    Closing price – Dec. 12

    Consensus price target

    Implied 12-month upside potential

    Share “buy” ratings

    Price change – 2022 through Dec. 12

    UniQure NV

    QURE Biotechnology

    $22.99

    $51.29

    123%

    95%

    11%

    Cara Therapeutics Inc.

    CARA Biotechnology

    $11.34

    $23.63

    108%

    88%

    -7%

    Vir Biotechnology Inc.

    VIR Biotechnology

    $25.50

    $53.00

    108%

    75%

    -39%

    Dynavax Technologies Corp.

    DVAX Biotechnology

    $11.22

    $23.20

    107%

    100%

    -20%

    Thryv Holdings Inc.

    THRY Advertising/ Marketing Services

    $18.40

    $36.75

    100%

    100%

    -55%

    Artivion Inc.

    AORT Medical Specialties

    $12.93

    $23.13

    79%

    83%

    -36%

    Cytokinetics Inc.

    CYTK Pharmaceuticals

    $38.33

    $67.43

    76%

    100%

    -16%

    Harsco Corp.

    HSC Environmental Services

    $7.17

    $12.30

    72%

    80%

    -57%

    Ligand Pharmaceuticals Inc.

    LGND Pharmaceuticals

    $64.80

    $110.83

    71%

    100%

    -35%

    Corcept Therapeutics Inc.

    CORT Pharmaceuticals

    $20.84

    $34.20

    64%

    80%

    5%

    Payoneer Global Inc.

    PAYO Misc. Commercial Services

    $5.70

    $9.33

    64%

    100%

    -22%

    Xencor Inc.

    XNCR Biotechnology

    $28.69

    $46.71

    63%

    93%

    -28%

    Pacira Biosciences Inc.

    PCRX Pharmaceuticals

    $45.50

    $72.90

    60%

    80%

    -24%

    BioLife Solutions Inc.

    BLFS Chemicals

    $19.72

    $31.38

    59%

    89%

    -47%

    Customers Bancorp Inc.

    CUBI Regional Banks

    $30.00

    $47.63

    59%

    75%

    -54%

    ModivCare Inc.

    MODV Other Transportation

    $92.22

    $145.83

    58%

    100%

    -38%

    Stride Inc.

    LRN Consumer Services

    $32.56

    $51.25

    57%

    100%

    -2%

    Ranger Oil Corp. Class A

    ROCC Oil and Gas Production

    $36.98

    $58.00

    57%

    100%

    37%

    Outfront Media Inc.

    OUT Real Estate Investment Trusts

    $17.59

    $27.00

    53%

    83%

    -34%

    Walker & Dunlop Inc.

    WD Finance/ Rental/ Leasing

    $82.22

    $125.20

    52%

    100%

    -46%

    Source: FactSet

    The Dow

    Here are all 30 components of the Dow Jones Industrial Average ranked by how much analysts expect their prices to rise over the next year:

    Company

    Ticker

    Industry

    Closing price – Dec. 12

    Consensus price target

    Implied 12-month upside potential

    Share “buy” ratings

    Price change – 2022 through Dec. 12

    Salesforce Inc.

    CRM Software

    $133.11

    $195.59

    47%

    80%

    -48%

    Walt Disney Co.

    DIS Movies/ Entertainment

    $94.66

    $119.60

    26%

    82%

    -39%

    Apple Inc.

    AAPL Telecommunications Equipment

    $144.49

    $173.70

    20%

    74%

    -19%

    Verizon Communications Inc.

    VZ Telecommunications

    $37.95

    $44.60

    18%

    21%

    -27%

    Visa Inc. Class A

    V Misc.s Commercial Services

    $214.59

    $249.33

    16%

    86%

    -1%

    Microsoft Corp.

    MSFT Software

    $252.51

    $293.06

    16%

    91%

    -25%

    Chevron Corp.

    CVX Integrated Oil

    $169.75

    $191.20

    13%

    54%

    45%

    Cisco Systems Inc.

    CSCO Information Technology Services

    $49.30

    $53.76

    9%

    44%

    -22%

    UnitedHealth Group Inc.

    UNH Managed Health Care

    $545.86

    $593.30

    9%

    85%

    9%

    Goldman Sachs Group Inc.

    GS Investment Banks/ Brokers

    $363.18

    $392.63

    8%

    59%

    -5%

    Walmart Inc.

    WMT Specialty Stores

    $148.02

    $159.86

    8%

    72%

    2%

    JPMorgan Chase & Co.

    JPM Banks

    $134.21

    $143.84

    7%

    59%

    -15%

    Home Depot Inc.

    HD Home Improvement Chains

    $327.98

    $346.61

    6%

    61%

    -21%

    American Express Co.

    AXP Finance/ Rental/ Leasing

    $157.31

    $164.57

    5%

    43%

    -4%

    McDonald’s Corp.

    MCD Restaurants

    $276.62

    $288.67

    4%

    72%

    3%

    Johnson & Johnson

    JNJ Pharmaceuticals

    $177.84

    $185.35

    4%

    36%

    4%

    Coca-Cola Co.

    KO Beverages: Non-Alcoholic

    $63.97

    $66.62

    4%

    73%

    8%

    Boeing Co.

    BA Aerospace and Defense

    $186.27

    $192.69

    3%

    77%

    -7%

    Intel Corp.

    INTC Semiconductors

    $28.69

    $29.54

    3%

    13%

    -44%

    Walgreens Boots Alliance Inc.

    WBA Drugstore Chains

    $41.06

    $42.24

    3%

    17%

    -21%

    Merck & Co. Inc.

    MRK Pharmaceuticals

    $108.97

    $110.62

    2%

    65%

    42%

    Caterpillar Inc.

    CAT Trucks/ Construction/ Farm Machinery

    $233.06

    $236.23

    1%

    41%

    13%

    Honeywell International Inc.

    HON Aerospace and Defense

    $214.50

    $217.35

    1%

    54%

    3%

    Nike Inc. Class B

    NKE Apparel/ Footwear

    $112.07

    $112.58

    0%

    64%

    -33%

    3M Co.

    MMM Industrial Conglomerates

    $126.85

    $127.30

    0%

    5%

    -29%

    Procter & Gamble Co.

    PG Household/ Personal Care

    $152.47

    $150.22

    -1%

    59%

    -7%

    Travelers Companies Inc.

    TRV Multi-Line Insurance

    $187.11

    $184.24

    -2%

    18%

    20%

    Amgen Inc.

    AMGN Biotechnology

    $276.78

    $264.79

    -4%

    24%

    23%

    Dow Inc.

    DOW Chemicals

    $51.11

    $48.73

    -5%

    15%

    -10%

    International Business Machines Corp.

    IBM Information Technology Services

    $149.21

    $140.29

    -6%

    33%

    12%

    Source: FactSet

    Don’t miss: 10 Dividend Aristocrat stocks expected by analysts to rise up to 54% in 2023

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  • Novozymes and Chr. Hansen agree deal to merge

    Novozymes and Chr. Hansen agree deal to merge

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    Danish biotechnology companies Novozymes AS
    NZYM.B,
    -10.74%

    and Chr. Hansen Holding AS
    CHR,
    +25.98%

    said Monday they have agreed to merge, creating a biological solutions provider with combined annual revenue of around 3.5 billion euros ($3.69 billion).

    The companies, which produce products such as enzymes, probiotics and biopharmaceutical ingredients, said the combination between two strategically complementary businesses will drive efficiencies while unlocking potential within biosolutions and providing additional growth opportunities.

    “Novozymes and Chr. Hansen share the strong conviction that our combined scale, know-how, commercial strengths, and innovation excellence will drive value for our shareholders, customers and society at large,” said Novozymes Chief Executive Ester Baiget.

    The deal will see Chr. Hansen shareholders receive 1.5326 new B-shares in Novozymes for each Chr. Hansen share, reflecting an implied premium of 49% to Chr. Hansen’s closing share price on Friday and valuing each Chr. Hansen share at 660.55 Danish kroner ($93.53) a share.

    Novo Holdings AS, the largest shareholder in both Novozymes and Chr. Hansen, will support the proposed merger and exchange its 22% stake in Chr. Hansen at an exchange ratio of 1.0227 new B-shares in Novozymes.

    The companies said they see annual revenue synergies of EUR200 million within four years after completion of the deal.

    Write to Dominic Chopping at dominic.chopping@wsj.com

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  • What’s gone wrong at Beyond Meat | CNN Business

    What’s gone wrong at Beyond Meat | CNN Business

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    New York
    CNN Business
     — 

    A slew of problems have stalled the growth of Beyond Meat, once a darling of Wall Street whose top product became synonymous with plant-based burgers.

    Sales have been declining, sliding 22.5% in the third quarter compared to the previous year, and the company has laid off over 20% of its global staff since August. After an extremely successful market debut in 2019, Beyond Meat

    (BYND)
    has lost favor with investors. The stock dropped about 77% so far this year.

    Some of the problems can be attributed to broader industry challenges. In the grocery store, interest in plant-based meats has waned as consumers, faced with inflation, focus on shopping for affordable basics.

    At the same time, restaurant traffic is dipping. Cash-strapped customers are pulling back on dining out, making Beyond’s foodservice business more vulnerable. And Beyond is far from the only company to lay off staff as a possible recession looms.

    But Beyond is facing some unique challenges.

    The company recently parted ways with three members of its C-suite, one of whom allegedly bit someone’s nose. A recent LA Times report called into question the hygiene of a Beyond Meat facility in Pennsylvania, though the company stands by the cleanliness of the plant, saying that its “food safety protocols go above industry and regulatory standards.”

    Also, a promising partnership with McDonald’s

    (MCD)
    has stalled in the United States. And fierce competition is squeezing sales, including in frozen, plant-based chicken, a category that is growing while refrigerated plant-based meat sales falter.

    The company’s plan is to focus on cash flow and profitability rather than growth, and become more strategic in its restaurant and marketing initiatives, among other things.

    “Despite the current headwinds facing our business and category, we remain confident in our ability to deliver on the long-term growth and impact expected from our global brand,” a Beyond Meat spokesperson told CNN Business in response to a request for comment.

    “They’ve got a big task ahead of them,” said Peter Saleh, restaurant analyst at financial services firm BTIG. Next year will be about “trying to get their financials in order to a place where they can sustain themselves,” he added. “It’s a tall order.”

    Last year, Beyond Meat announced a strategic partnership with McDonald’s, including working with the burger chain on the McPlant, a plant-based burger.

    Since then, the McPlant has been added to the McDonald’s menu permanently in some European markets.

    In the US, McDonald’s

    (MCD)
    tested out the burger in some locations. But it hasn’t added the item to the menu, and it’s not clear if or when that will happen.

    “I don’t think it’s totally off the table, but I’m not sure that it’s going to be [Beyond’s] saving grace at this point,” said Saleh.

    Beyond has also lost its spot on the Dunkin’ menu. The coffee chain enthusiastically rolled out a breakfast sandwich with Beyond sausage nationally in 2019, but stopped working with Beyond last year.

    McDonald's tested the McPlant, but has not added it permanently to US menus.

    Beyond still has plenty of partnerships with restaurants, but many of them are limited-time tests.

    “In the last 12 months, we have had 25 trials for permanent menu launches with nine distinct products,” said Beyond CEO Ethan Brown during a November analyst call discussing the company’s third-quarter results.

    Brown positioned the launches as long-term investments, saying they won’t generate big sales in the short term but should pay off eventually. But getting a permanent menu spot might be challenging, noted Kathryn Fenner, principal at foodservice consulting firm Technomic.

    “Even if they sell, say 30 to 40 of these plant-based burgers a day … that still pales in comparison to their traditional proteins,” she said, speaking about plant-based burgers in general. And these days, making a limited-time offer permanent is a tough sell because operators have been slimming down their menus, she noted.

    Meanwhile, Burger King continues to sell the Impossible Whopper nationally. “We haven’t been experiencing what Beyond Meat and some of the other brands in the space have reported,” said Impossible foods spokesperson Keely Sulprizio. Impossible is private and is not required to share its sales data publicly.

    In the grocery store, Beyond is facing a swell of competition.

    Beyond has embraced competition in the past. But now, rivals are interfering with its bottom line.

    “We believe that healthy competition within plant-based meat is a good thing as it brings investment in marketing to the category,” said Brown during the November analyst call.

    “However, in the current environment, we are not seeing this benefit,” he said. “Instead, more companies are pursuing the same or fewer consumers.” Brown said Beyond is the leader in refrigerated plant-based meat, and that he expects some brands to pull back or consolidate in the future.

    It’s true that the plant-based meat pie is smaller these days. Retail sales of meat alternatives fell about 12% in the year through November 6, according to data from IRI. Ground plant-based meat fell about 19%, and patties were down 30% in that period.

    But frozen chicken alternatives are growing. Strips and cutlets sales increased about 16% and nuggets jumped nearly 28%.

    “Frozen plant-based chicken is the largest single subcategory in all of plant-based meats and continues to grow at a double-digit pace,” said Brown during the analyst call. “So we are pleased to be expanding our presence of additional chicken items.”

    Beyond Meat introduced plant-based chicken strips in retail in 2014, but pulled the product in 2019. It launched a retooled version, Beyond Chicken Tenders, in stores in 2021, and has built its plant-based chicken portfolio since then.

    But in the few years Beyond’s product was off the market, new entrants rushed into the space.

    Nuggs, a plant-based chicken nugget made by startup Simulate, has made a splash online thanks to its bold packaging over the last few years and has been expanding in retail.

    Daring, another plant-based chicken company, launched its product in the US in 2020. Daring’s chicken alternative became available at Whole Foods last year. Impossible and other legacy brands have offerings, as well.

    “Plant-based chicken is a good growth category,” said Saleh. “I would have liked to have seen [Beyond] double down.”

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  • Nestle lifts guidances, confirms plan to buy back $21 billion shares over 2022-24

    Nestle lifts guidances, confirms plan to buy back $21 billion shares over 2022-24

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    Nestle SA has lifted its full-year organic sales-growth guidance and outlined targets for 2025 ahead of its investor seminar on Tuesday.

    The Swiss packaged-foods giant
    NSRGY,
    +0.11%

    NESN,
    -0.26%

    said it now expects sales to grow organically between 8% and 8.5% from previous expectations of around 8%. The underlying trading operating profit margin is still seen at around 17%.

    By 2025, it expects to return to an underlying trading operating profit margin in the range of 17.5% to 18.5%, following the margin impact of cost inflation in 2021 and 2022.

    Annual underlying earnings-per-share growth is seen between 6% and 10% in constant currency over the 2022-25 period, Nestle said. The company aims for free cash flow toward 12% of sales, and return on invested capital of 15% by 2025.

    In terms of portfolio management, it said it will explore strategic options for peanut allergy treatment Palforzia, following slower than expected adoption by patients and heathcare professionals. The review should be completed in the first half of next year.

    Nestle said the health-science business will focus more on consumer care and medical nutrition.

    The company confirmed its program to repurchase 20 billion Swiss francs ($21.14 billion) of its shares between 2022 and 2024 and said it aims to keep increasing its dividend year on year.

    Write to Giulia Petroni at giulia.petroni@wsj.com

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  • ‘There are plenty of storm clouds on the horizon’: 5 things not to buy on Black Friday

    ‘There are plenty of storm clouds on the horizon’: 5 things not to buy on Black Friday

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    It’s a year for shopping prudently.

    Americans will spend between $942.6 billion and $960.4 billion this holiday season, according to projections from the National Retail Federation. That’s up from last year when holiday sales hit a record $889.3 billion, the trade association said.

    However, people are not willing to go as crazy this Black Friday compared to previous years: that 6% to 8% year-over-year growth expectation is slower than the 13.5% annual increase in holiday season spending in 2021 when consumers had pandemic-era government benefits to spend.

    Once again, millions of people will also be shopping from the comfort of their home and avoiding the Black Friday crowds. Online and other non-store sales are predicted to rise 10% to 12% (to between $262.8 billion and $267.6 billion).

    People have reason to be concerned about their spending.

    “The economy is probably doing better than it feels right now, but that’s not true for everyone of course,” said Ted Rossman, senior industry analyst at Bankrate.com. “There are plenty of storm clouds on the horizon.” He cited rising interest rates, 40-year high inflation and tech layoffs. 

    People have reason to be concerned about their spending. The personal saving rate — meaning personal saving as a percentage of disposable income, or the share of income left after paying taxes and spending money — fell to 3.3% in the third quarter from 3.4% in the prior quarter, the government said last month. 

    Despite a strong labor market and unemployment hovering at 3.7% in October, Rossman said, “it still seems like a recession is likely in 2023, although the best guess is that it will be a mild one.”

    So what should you not buy this Black Friday? Quite a lot, if you don’t believe in living large. Here are 5 things to think about avoiding:

    — Quentin Fottrell

    Tech accessories

    For tech accessories — like earbuds and headphones — waiting until December may be a better way to score better deals, added Ryan McGonagill, director, industry research at Savings.com, another site that aggregates discounts.

    The most popular electronic products like Apple AAPL iPads, MacBooks and iPhones have scant Black Friday deals. “For a limited time, get an Apple Gift Card to use on a later purchase when you buy an eligible iPhone, Apple Watch, Mac, AirPods, and more,” according to Apple’s Black Friday offer.

    Computer makers and retailers, however, are coming off the work-from-home boom and may have inventory they need to thin before year’s end. Holiday discounts on computers, at least through October, were at 10% off the base price, according to analysis from Adobe
    ADBE,
    +2.92%
    .
     

    The software and analytics provider said computer discounts could go much steeper, up to 32% off the base price before the end of the year. Cyber Monday could be the best day for bargains on computers, Adobe said, but computer deals may stick around for the rest of 2022.

    Pay attention to early deals, if you desperately need a new laptop. “Many retailers offer the same pricing on Black Friday and Cyber Monday,” said Kristin McGrath, editor at RetailMeNot.com, a site that promotes deals. “So start looking on Black Friday and use Cyber Monday as a second chance to snag what you missed.”

    — Andrew Keshner

    Seasonal items

    Winter wear is usually not going to be on sale before Christmas, so it’s best to shop for your puffy jackets and snow boots in the New Year, if you can. The same goes for white linen, tools and holiday decorations, said Charles Lindsey, associate professor in the Marketing School of Management at the University at Buffalo.

    Most stores put their coats, hats, scarves and flannel pajamas on sale — with discounts on big-name brands of 50% or more in January — to make room for their spring collections. Similarly, buy summer clothes in the fall and winter. 

    “The best time to buy holiday decor is immediately after said holidays,” according to DealNews, a site offering shopping advice. “After Christmas sales are generally your best bet for snagging deeply discounted ornaments, lights, and inflatables in order to be well prepared for next year.” 

    Fashion-conscious shoppers inclined to snap up discounted items may want to practice patience on Black Friday. Apparel may have even deeper discounts after the holidays. If you feel compelled to buy something new to wear to the office party, invest in quality pieces. Fast fashion has a cost: It has contributed to a waste crisis, in part because such items are not meant to last very long in your closet.

    But that does not mean you should not keep your eyes peeled for some seasonal goods on Black Friday. Walmart
    WMT,
    +0.34%
    ,
    for instance, is pushing out the boat early with some discounts on toys, including hoverboards, bicycles, remote-control cars, and karaoke machines. Similarly, Kohl’s
    KSS,
    +4.17%

    has discounts on a range of doll’s houses.

    — Quentin Fottrell and Emma Ockerman

    Appliances and white goods

    There might be tempting Black Friday deals on appliances, mattresses and furniture. Discounts on appliances may reach up to an 18% from the base price, Adobe said. Still, “you’re going to get another shot at them during New Year’s Eve sales and again during Presidents Day sales in February,” McGrath said.

    If Black Friday is “too chaotic …you’ll have plenty of opportunities to save,” she added. Department stores usually run very attractive discounts on houseware in the days following Christmas. “Stores know they’ll be getting a lot of traffic with so many people returning gifts — and hope to convince shoppers to make an impulse self-gifting purchase or two,” McGrath said.

    If you can’t wait, Costco
    COST,
    +1.64%

    is already rolling out deals on white goods and appliances, including $70 off a Sonos
    SONO,
    +1.87%

    WiFi speaker. However, Consumer Reports cautions consumers against falling for big deals without checking out the reliability of the brand first, as you could end up paying more in repairs down the road. 

    You might be tempted by offers and rebates on matching kitchen suites — typically a refrigerator, range, dishwasher, and microwave — from the same maker,” Consumer Reports said. “But price is only part of the equation when you’re purchasing appliances. Reliability is key, and it can vary within a brand’s offerings.”

    — Andrew Keshner

    Fitness equipment

    One of the best times to buy exercise equipment is around the New Year, when people are making resolutions to improve their health, said Regina Conway, who researches sales and promotions for Slickdeals, a site that tracks retail discounts.

    When you make your purchase, think twice before buying equipment that runs on proprietary technology, like Peloton
    PTON,
    -1.13%

    or Lululemon’s
    LULU,
    +1.79%

    Mirror exercise products, mainly because the at-home fitness boom faces an uncertain future post-pandemic, Conway noted.

    However, this Black Friday is a little different than previous years, and there are some deals in categories that traditionally don’t have good Black Friday discounts, including exercise equipment. “This year we’re seeing strong Black Friday deals from industry stalwarts like NordicTrack,” Conway said.

    Peloton Interactive, which is facing a challenging time since people are no longer stuck at home due to the pandemic, is currently offering $600 off this fitness bike package. However, consumers will still have to fork over $2,195 for the machine and exercise regime.

    “We think consumers are likely to continue to prefer out-of-home experiences in the near-term and believe Peloton is still working through pandemic pull-forward,” Cowen & Co. analyst John Blackledge wrote in an analyst note on Tuesday, citing “limited visibility” on Peloton’s fiscal 2023 performance.

    — Leslie Albrecht and Quentin Fottrell

    Big-ticket items like TVs 

    Does Amazon
    AMZN,
    +0.80%

    founder Jeff Bezos have a point about the dangers of splurging this year? In something of a Black Friday surprise, Bezos offered some shocking spending tips as Americans gear up for the holiday shopping season — amid four-decade-high inflation. Or, to be more accurate, he offered tips on what not to spend your money on.

    ‘If you’re an individual and you’re thinking about buying a large-screen TV, maybe slow that down, keep that cash, see what happens. Same thing with a refrigerator, a new car, whatever. Just take some risk off the table,” Bezos said in a recent interview on CNN
    WBD,
    +2.27%
    .
    The remarks drew a significant amount of scorn on social media, with some critics advising people to avoid shopping on Amazon too.

    About those TVs: “They’re normally not going to be a high-end TV brand,” Lindsey said. “It will be a lower to mid-tier brand. Companies utilize these TVS as doorbusters to get people in the store and people clicking on their website. You’re probably better off shopping around the Superbowl in late January.”

    Rossman said consumers are becoming more judicious about their Black Friday splurging. “People seem to be pulling back on some big-ticket purchases,” he told MarketWatch. “For example, sellers of appliances, electronics and furniture all posted disappointing results in the most recent retail sales report.”

    “Yet discretionary sectors such as travel and dining are seeing sharp increases in spending,” he added. “I think the main explanation is pent-up demand. People are prioritizing experiences over things right now, largely due to the pandemic. There was also a pull-forward in demand for many physical goods the past couple of years as many out-of-home activities were curtailed.”

    — Quentin Fottrell

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  • The PC boom has gone bust, and we are about to see the results ahead of Black Friday

    The PC boom has gone bust, and we are about to see the results ahead of Black Friday

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    The pandemic-fueled personal-computer boom has ended, so how will that affect demand and pricing for PCs and the retailers that sell them this holiday season?

    A sense of the fallout will be provided in the week ahead with results due from PC makers Dell Technologies Inc.
    DELL,
    +0.67%

    and HP Inc.
    HPQ,
    +0.17%
    ,
    along with videoconferencing platform Zoom Video Communications Inc.
    ZM,
    -1.15%

    and electronics chain Best Buy Co Inc.
    BBY,
    +2.88%

    All of those companies will report amid signs of deep holiday discounting for products such as clothing and electronics, after many customers — stuck at home in 2020 and 2021 — loaded up on laptops and other goods and turned Zoom into a digital conference room. But this year, decades-high inflation, and a return to prepandemic spending on travel and hanging out in person, have forced retailers and electronics makers to adjust to a world where more people are spending on essentials.

    PC shipments have fallen at rates not seen since at least the 1990s. Adobe
    ADBE,
    -2.06%

    has said online holiday discounts for electronics have been as steep as 17%. For computers, they’ve run for as much as 10% less. TVs are also being sold for cheaper. Holiday-season forecasts have generally called for sales increases, helped by price increases and enduring demand despite those price increases.

    In-depth: The pandemic PC boom is over, but its legacy will live on

    However, results from Target
    TGT,
    +0.54%

    on Wednesday missed big on third-quarter earnings, and the big-box retailer said it was bracing for a possible decline in fourth-quarter same-store sales, citing “softening sales and profit trends that emerged late in the third quarter and persisted into November.” Results from Walmart
    WMT,
    +1.51%

    were almost the opposite, however, detailing earnings that beat by a wide margin and a raised full-year outlook.

    Among smaller retailers, discounter Ross Stores Inc.
    ROST,
    +9.86%

    hiked its full-year profit forecast, citing sales momentum but easier year-over-year comparisons up ahead. But Williams-Sonoma Inc.
    WSM,
    -6.15%

    noted “macro uncertainty” and “increasingly inconsistent” demand.

    This week in earnings

    The companies report during a shortened, quieter week — thanks to Thanksgiving — and after concerns about a recession have hung over much of the year. With 94% of S&P 500
    SPX,
    +0.48%

    companies having already reported third-quarter results, only a dozen are set to release earnings in the week ahead.

    But among those 94%, there are signs that preoccupations with a downturn might be easing, after the economy grew during the third quarter and reversed after two quarters of declines.

    FactSet senior analyst John Butters, in a report on Thursday, said 179 companies have mentioned the term “recession,” during earnings calls in the third quarter. That’s still above the average over 10 years, but it’s below the 242 companies that mentioned a recession in the second quarter.

    Previously: Executives seem pretty convinced a recession is coming

    Elsewhere on Monday, J.M. Smucker Co.
    SJM,
    +1.11%

    — best known for Folgers and Jif — reports results, following concerns about higher food prices and how much higher they might go. Life-sciences electronics maker Agilent Tecnologies Inc.
    A,
    +1.21%

    report results on Monday as well. Fast-food chain Jack in the Box Inc.
    JACK,

    reports Tuesday. Tractor and construction-vehicle Deere & Co.
    DE,
    +0.31%

    reports Wednesday, following production and supply-chain snarls but steady demand.

    The calls to put on your calendar

    Clothing demand, discount demand: Urban Outfitters Inc.
    URBN,
    +2.44%

    reports Monday, while Burlington Stores Inc.
    BURL,
    +4.63%
    ,
    Nordstrom Inc.
    JWN,
    +1.71%

    and dollar-store chain Dollar Tree Inc.
    DLTR,
    -0.21%

    report on Tuesday.

    The discounting wave across clothing retailers, an effort to clear inventories, might attract more consumers, but it’s worried Wall Street analysts focused on margins and the bottom line. Still, some analysts have said that more younger shoppers feel like their wardrobes are getting stale, and they say Nordstrom, whose customers tend to have more money, is best geared for “an upcoming wardrobe refresh.

    Off-price clothing and home-goods retailer Burlington, meanwhile, will report after rival discounters Ross and TJX received a lift from investors this week.

    See also: The holiday-shopping season has a different problem this year than last — and it could lead to some deals

    Ross’ chief executive, Barbara Rentler, noted that rising prices had hurt its lower-income consumers. But Jefferies analysts said that Burlington and other discounters, which often buy up goods that other retailers don’t want, stood to benefit from the inventory purge.

    Dollar Tree, meanwhile, reports as more shoppers seek cheaper grocery options, but as food prices rise nonetheless. But Bank of America analysts, in a note last month, said traffic data implied a “slowdown” heading into the results.

    The numbers to watch

    Demand trends for PCs, electronics: Dell and HP report in the wake of deeper job cuts across the tech industry, while Zoom tries to tack on more features — such as calendar and email functions — to appeal to small business and adapt to a hybrid-work world.

    The PC boom’s demise hit home at Dell during its prior quarter, reported in August, after personal-computer sales at the company came in below estimates. Executives, at that time, said PC demand had fallen and that “customers are taking a more cautious view of their needs given the uncertainty.”

    Opinion: Tech earnings are about to dive, and there’s no life preserver in sight

    Some analysts, however, signaled that some degree of investor pessimism was already baked into the stock prices.

    “We recognize the deteriorating industry fundamentals in relation to PCs as well as incremental slowdown in IT Infrastructure. That said, we believe the magnitude of the cuts last quarter set up Dell to be less exposed to another round of material earnings revisions,” JPMorgan analysts said in a note. And even as HP feels similar pain, analysts there said share buybacks could be “a bright spot.”

    Results from HP and Dell could also have implications for Best Buy, which sells laptops, TVs, phones and other electronic devices.

    “Recall that initial expectations for the year were that BBY would face pressure as it lapped stimulus-fueled spending and broad-based demand for technology products and services,” Wedbush analysts said in a note on Friday.

    “However, the macro has been more volatile than expected with consumers facing significant inflationary pressures and lower-income households are making decisions to trade down in some categories such as televisions.”

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