ReportWire

Tag: GIS

  • New to Canada and no pension: How to save for your retirement – MoneySense

    New to Canada and no pension: How to save for your retirement – MoneySense

    The difficulties facing newcomers to Canada with respect to retirement planning are particularly acute. Given how Canada’s immigration points system works, economic immigrants are usually in their late 20s or early 30s—and they face unique challenges:

    1. Depleted savings: If you’re a 30-year-old newcomer, chances are you’ve used a large portion—if not all—of your savings to set up your new life in Canada. So, you’re behind in the retirement savings game. If retirement savings were a 100-metre race, lifelong Canadians have a 20- to 30-metre head start over newcomers.
    2. Lower income: If you’re a newcomer to Canada, you’ve probably had to restart your career a few rungs lower on the corporate ladder because of your lack of Canadian work experience. This means you’re not earning as much as others your age who have similar experience. Consequently, your ability to save for retirement is lower.
    3. Lack of knowledge: You need to understand Canada’s financial and tax systems to maximize its retirement planning opportunities, and gathering this knowledge takes time.
    4. Reduced contributions: Joining the Canadian workforce later in life than their Canadian-born peers, immigrants have fewer years to contribute to the Canada Pension Plan (CPP) and build up registered retirement savings plan (RRSP) and tax-free savings account (TFSA) contribution room. For this reason, they rely on less tax-efficient unregistered savings and investment vehicles to sustain their retirements to a greater degree than their neighbours.

    But there’s good news. As Toronto-based financial advisor Jason Pereira points out, “Canada’s retirement system does not discriminate against newcomers. The rules are the same for everybody.” So, with the right knowledge and expertise, you can work towards building a strong retirement plan. 

    How to start retirement planning as an immigrant

    To plan for retirement, you need to know:

    • How much money will you need each month in retirement? The simplest method to estimate your income requirement in retirement is to consider it to be 70% to 80% of your current income. For example, if you earn $75,000 a year today, 70% of that is $52,500—that’s $4,375 per month—in today’s dollars. Alternatively, you could estimate the amount you’d need in retirement using this tool.
    • How much you’ll receive from government pension and aid payments: You need to estimate approximately how much you’ll get from the Canada Pension Plan (CPP) and other government programs: Old Age Security (OAS) and the Guaranteed Income Supplement (GIS). The tool at this link will help you do so. Ayana Forward, an Ottawa-based financial planner, notes that “some home countries for newcomers have social-security agreements with Canada, which can help newcomers reach the eligibility requirements for OAS.”
    • How much you’ll receive from your employer-sponsored retirement plan: Workplaces without a defined benefit pension plan sometimes offer a registered investment account (usually a group RRSP), with contributions made by you and your employer or only your employer. If you have a group RRSP from your employer, what will its estimated future value be at the time of your retirement? You could use a compound interest calculator to find out.
    • How to make up for a shortfall: The CPP, OAS, GIS and your group RRSP likely won’t be enough to fund your retirement. You’ll need to make up for the shortfall through your personal investments or additional sources of income.

    Sample retirement cash flow for a 35-year-old (retirement age 65)

    This table illustrates the types of income you could have in retirement. The amounts used in the table are hypothetical estimates. (To estimate your retirement income, try the various tools linked to above.)

    Amount (today’s value) Amount (inflation adjusted)
    A Amount needed $52,500 $127,400
    B Government pension and aid payouts
    (CPP, OAS, GIS)    		 $22,000 $53,400
    C Employer-sponsored pension plan
    (group RRSP)    		 $8,000 $19,400
    D B + C $30,000 $72,800
    E Shortfall (A – D) $22,500 $54,600
    F Needed value of investments in the year of retirement (E divided by 4%, based on the 4% rule) $562,500 $1,365,000
    G Needed flat/constant monthly investment amount from now to retirement $969

    In the example above, the person faces an annual shortfall of $22,500. In other words, this person needs to generate an additional $22,500 per year to meet their retirement income needs, after accounting for the typical government pension or aid payouts and their employer-sponsored retirement plan. To do this, they’d need to invest about $969 per month, assuming an 8% annual rate of return from now to retirement 30 years later. How could they fill this gap and meet their shortfall? Enter self-directed investments, real estate and small-business income.

    Build your own retirement portfolio

    An obvious and tax-efficient way to cover your retirement income shortfall is to build your own investment portfolio from which to draw income in your retirement years. These investments can be held in registered or non-registered accounts. Registered accounts, such as the TFSA and RRSP, offer useful tax advantages—such as a tax deduction and/or tax-free or tax-sheltered gains, depending on the account—but the amount you can contribute to these accounts is limited. Non-registered accounts have no contribution limits but offer no tax advantages. 

    Newcomers often have lower TFSA and RRSP contribution room compared to their peers because they’ve lived and worked in Canada for a shorter period. “TFSA contribution room starts accruing the year of becoming a resident of Canada,” Forward explains. “RRSP contribution room is based on earned income in the previous year.”

    Your TFSA and RRSP contribution room information is available on your Notice of Assessment from the Canada Revenue Agency, which you’ll receive after you file your tax return. To check your TFSA limit, you can also use a TFSA contribution room calculator.

    Aditya Nain

    Source link

  • Single, no pension? Here’s how to plan for retirement in Canada – MoneySense

    Single, no pension? Here’s how to plan for retirement in Canada – MoneySense

    • Canada Pension Plan (CPP) deferral: CPP deferral is worth considering for any healthy senior in their 60s. If you live well into your 80s, you may collect more pension income than if you start CPP early, even after accounting for the time value of money and the ability to invest the earlier payments or draw down less of your investments. CPP deferral can protect against the risk of living too long, especially for a single retiree, and particularly for women, who tend to live longer than men. CPP can be deferred as late as age 70. The benefit increases by 8.4% per year after age 65, plus an annual inflation adjustment.
    • Old Age Security (OAS) deferral: Like CPP, deferring OAS can be beneficial for seniors who live well into their 80s. One exception is low-income seniors who might qualify for the Guaranteed Income Supplement (GIS) between 65 and 70. Single seniors aged 65 and older, whose income is less than about $22,000, may qualify. OAS can be deferred as late as age 70. The benefit increases by 7.2% per year after age 65, plus an annual inflation adjustment.
    • Annuities: Almost everyone wants a pension, yet almost no one is willing to buy one. You can buy an annuity from a life insurance company using non-registered or registered (ie. RRSP) savings. (What is a non-registered account? How does it work?) Based primarily on your age and resulting life expectancy, an insurer will pay you an immediate or deferred monthly amount for life—even if you live until 110. If interest rates are higher when you buy an annuity, the monthly payment amount may be slightly higher as well. If you don’t have a pension and you want the security of a monthly payment, an annuity can be worth considering. Especially if you’re in good health and are a conservative investor.

    Survivor benefits in Canada

    Most DB pension benefits are payable only to surviving spouses. Some pensions have survivor benefits for children or a guaranteed number of months of payments to an estate.

    A CPP survivor pension can be paid to the spouse or common-law partner of a deceased contributor. Single retirees are somewhat disadvantaged since their children will usually not qualify for a benefit if they die.

    Children’s benefits are only payable if a surviving child is under 18, or if they are attending full-time post-secondary education and are between 18 and 25.

    Advice, accountability and cognitive decline

    One of the challenges everyone faces as they age is making sound financial decisions. Our experience and knowledge may increase as we age but our ability to process complex decisions tends to begin declining before we retire.

    Single seniors don’t have a partner to bounce ideas off, so many may find themselves stressed about retirement and financial planning. And not everyone feels comfortable talking about money with their children and friends, and not everyone has a financial advisor, either. (Use the MoneySense Find a Qualified Advisor Tool to find an advisor near you.)

    Partners, adult children and friends can provide accountability, as well with spending and other financial decisions and keep each other in check.

    A single retiree can certainly be successful, but the challenges they face are different from that of couples.

    For these reasons, being conservative, deferring pensions, considering annuities, seeking financial advice, and proactively planning are all strategies to consider when planning for retirement as a one-person household—especially if you have no pension plan.

    Jason Heath, CFP

    Source link

  • Planning for retirement with little or no savings to draw on – MoneySense

    Planning for retirement with little or no savings to draw on – MoneySense

    Retiring with little to no savings can be challenging, but it is not impossible.

    Canada Pension Plan (CPP)

    For a retiree who has worked most of their life, the Canada Pension Plan (CPP) will provide a modest retire income. The CPP retirement pension is meant to replace 25% of your historical career earnings, up to a certain limit. The CPP enhancement that started in 2019 will gradually increase that replacement rate to 33% over time.

    In 2024, the maximum CPP retirement pension payment at age 65 is $1,365 per month—that is up to $16,375 per year. However, most retirees do not make enough CPP contributions during their careers to receive the maximum. In fact, the average CPP pensioner was receiving only $758 per month in October 2023—about 58% of the maximum. A CPP Statement of Contributions can be obtained from Service Canada to help estimate your future CPP pension.

    CPP retirement pension payments can start as early as age 60 or as late as age 70, and the later you start your pension, the higher the benefit you will receive. There can be a lot of factors to consider related to timing your CPP pension, and payments are adjusted annually to account for increases in inflation and the cost of living.  

    sponsored

    National Bank: The Chequing Account for Newcomers to Canada

    go to site

    • Awarded Best Bank for Newcomers to Canada by MoneySense.
    • Open an account with no fixed monthly fee for up to 3 years.

    go to site

    Old Age Security (OAS) and the Guaranteed Income Supplement (GIS)

    Beyond CPP, retirees can also expect to receive an Old Age Security (OAS) pension. OAS is not based on work or contribution history, as it is a non-contributory pension. It is instead based on residency. A lifetime or long-time Canadian resident may receive up to $713 per month at age 65 as of the first quarter of 2024, which is $8,565 annualized. A 2022 change to OAS now means that pensioners aged 75 and over receive a 10% increase in their OAS pension. The maximum for a 75-year-old in the first quarter of 2024 is $785 per month, or up to $9,416 per year. This assumes they started their pension at age 65. OAS is adjusted quarterly based on inflation.

    OAS can begin as early as age 65 or as late as age 70. Delaying OAS can boost payments by 0.6% per month or 7.2% per year, so that you get more monthly, but for fewer years. 

    A low-income retiree with little to no retirement savings should consider starting OAS at 65, especially if they are no longer working. The ideal timing of a CPP retirement pension is a little more variable, but the main reason to consider applying for OAS at 65 is a related benefit called the Guaranteed Income Supplement (GIS). 

    GIS is a tax-free monthly benefit paid to OAS pensioners with low incomes. Single retirees whose incomes are below $21,624 excluding OAS may receive up to $1,065 per month, or $12,786 per year, as of the first quarter of 2024. The maximum income and benefit for couples varies depending upon whether both are receiving OAS. If both spouses are receiving the full OAS pension, their maximum combined income to qualify for GIS is $28,560 excluding OAS, and the maximum monthly benefit is $641 each ($7,696 annually). If your spouse is not receiving an OAS pension, the income limit rises to $51,840 excluding OAS, and a $1,065 monthly ($12,786 annual) maximum benefit applies.

    Jason Heath, CFP

    Source link

  • Are Cheerios and Quaker Oats safe to eat? Experts weigh in on new pesticide concerns. 

    Are Cheerios and Quaker Oats safe to eat? Experts weigh in on new pesticide concerns. 

    Should you pass on that morning bowl of cereal or oatmeal?

    That’s what some people may be asking in light of a study released this week by the Environmental Working Group, a Washington, D.C.-based nonprofit focused on agricultural and chemical-safety laws in the U.S. The study looked at the prevalence of a pesticide called chlormequat in oat-based food products, including cereals like Cheerios and Quaker Oats. 

    The EWG said it found detectable levels of the chemical in 92% of nonorganic oat-based foods purchased in May 2023.

    “Studies in laboratory animals show that chlormequat can cause harm to the normal growth and development of the fetus and damage the reproductive system,” Olga Naidenko, vice president at the EWG, told MarketWatch. Those risks, the EWG report noted, can include reduced fertility. 

    It has not been proven that the substance affects humans in the same way the studies cited by the EWG found it does lab animals, and there are other studies that have found chlormequat had no effect on reproduction in pigs or mice, or any impact on fertilization rates in mice.

    The EWG is still advocating that concerned consumers buy organic oat products as an alternative, however. 

    “Certified organic oats are, by law, grown without synthetic pesticides,” Naidenko said. 

    Representatives for General Mills
    GIS,
    +1.28%    ,
    the company that makes Cheerios, and PepsiCo
    PEP,
    -0.92%    ,
    which owns Quaker Oats, didn’t immediately respond to a request for comment. 

    “‘Any family raising kids or thinking about starting a family should do whatever they can do to avoid chlormequat. It’s not a safe product.’”


    — Charles Benbrook, a scientific consultant who focuses on pesticides

    The EWG’s recommendation to go organic was echoed by experts that MarketWatch contacted. 

    Charles Benbrook, a scientific consultant based in Washington state who focuses on pesticides, said he’s an oatmeal eater who chooses organic oatmeal “when I can get it.”

    Regarding chlormequat, Benbrook said, “It’s not a safe product.”

    “Any family raising kids or thinking about starting a family should do whatever they can do to avoid chlormequat,” he said.

    Melissa Furlong, an assistant professor of environmental health sciences at the University of Arizona, said it’s important to note that chlormequat is not the only pesticide that is found in oat-based cereals. There’s still much we need to learn about the health effects the substance might have on humans, she added.

    “That’s not to say it isn’t the worst [pesticide]. We don’t really know,” Furlong said. 

    Chlormequat has not been approved for use on food crops grown in the U.S., according to the EWG, but it can be found in oats and oat products from other countries. Under the Trump administration, the Environmental Protection Agency started allowing imports of such products into the U.S., the EWG noted, which is why chlormequat can be found in some cereals sold in this country.

    The EPA is considering approving chlormequat for use on crops grown in the U.S., according to the agency’s website. In a call for public comment on its proposed decision, the agency said, “Based on EPA’s human health risk assessment, there are no dietary, residential, or aggregate (i.e., combined dietary and residential exposures) risks of concern.”

    The EPA didn’t respond immediately to a request for comment.

    For her part, Furlong said that while she usually buys organic oat products, she isn’t rigid about it — and she might still buy the occasional box of Cheerios.

    Source link

  • General Mills, Inc. (NYSE:GIS) Shares Sold by CX Institutional

    General Mills, Inc. (NYSE:GIS) Shares Sold by CX Institutional

    CX Institutional reduced its holdings in General Mills, Inc. (NYSE:GIS – Free Report) by 12.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,469 shares of the company’s stock after selling 475 shares during the quarter. CX Institutional’s holdings in General Mills were worth $222,000 at the end of the most recent quarter.

    Several other hedge funds have also modified their holdings of the business. Koshinski Asset Management Inc. lifted its holdings in shares of General Mills by 17.2% in the 3rd quarter. Koshinski Asset Management Inc. now owns 3,209 shares of the company’s stock valued at $205,000 after buying an additional 470 shares during the period. Caprock Group LLC lifted its holdings in shares of General Mills by 25.3% in the 3rd quarter. Caprock Group LLC now owns 21,102 shares of the company’s stock valued at $1,350,000 after buying an additional 4,259 shares during the period. Washington Trust Advisors Inc. lifted its holdings in shares of General Mills by 156.3% in the 3rd quarter. Washington Trust Advisors Inc. now owns 820 shares of the company’s stock valued at $52,000 after buying an additional 500 shares during the period. Wagner Wealth Management LLC lifted its holdings in shares of General Mills by 26.0% in the 3rd quarter. Wagner Wealth Management LLC now owns 4,435 shares of the company’s stock valued at $284,000 after buying an additional 916 shares during the period. Finally, CreativeOne Wealth LLC raised its holdings in General Mills by 18.9% during the third quarter. CreativeOne Wealth LLC now owns 9,676 shares of the company’s stock worth $619,000 after purchasing an additional 1,541 shares during the last quarter. 75.31% of the stock is owned by institutional investors and hedge funds.

    General Mills Trading Up 0.3 %

    NYSE GIS opened at $65.14 on Friday. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $90.89. The company has a current ratio of 0.64, a quick ratio of 0.36 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $36.99 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 2.27 and a beta of 0.25. The firm’s fifty day simple moving average is $65.05 and its 200-day simple moving average is $68.75.

    General Mills (NYSE:GIS – Get Free Report) last posted its quarterly earnings results on Wednesday, December 20th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.35 billion. General Mills had a net margin of 12.06% and a return on equity of 25.44%. General Mills’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 earnings per share. As a group, sell-side analysts anticipate that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.

    General Mills Announces Dividend

    The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Tuesday, January 9th. General Mills’s dividend payout ratio (DPR) is 57.42%.

    Wall Street Analysts Forecast Growth

    Several equities analysts recently issued reports on the company. Stifel Nicolaus reduced their price objective on General Mills from $72.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, December 21st. Bank of America reduced their price objective on General Mills from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, December 21st. JPMorgan Chase & Co. reduced their price objective on General Mills from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, September 18th. TD Cowen assumed coverage on General Mills in a report on Wednesday, September 13th. They set a “market perform” rating and a $70.00 price objective for the company. Finally, StockNews.com assumed coverage on General Mills in a report on Thursday, October 5th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.00.

    Check Out Our Latest Stock Analysis on GIS

    About General Mills

    (Free Report)

    General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.

    Featured Articles

    Institutional Ownership by Quarter for General Mills (NYSE:GIS)

    Receive News & Ratings for General Mills Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for General Mills and related companies with MarketBeat.com’s FREE daily email newsletter.

    ABMN Staff

    Source link

  • U.S. stocks struggle to resume climb as Dow edges higher after notching 5th straight record close

    U.S. stocks struggle to resume climb as Dow edges higher after notching 5th straight record close

    U.S. stock indexes were higher on Wednesday as Wall Street tried to build on their year-end rally with a fresh record in sight for the S&P 500 index.

    How are stock indexes trading

    • The S&P 500
      SPX
      was inching up 3 points, leaving it nearly flat, at 4,771

    • The Dow Jones Industrial Average
      DJIA
      was rising 15 points, leaving it nearly flat, at 37,570

    • The Nasdaq Composite
      COMP
      was edging up 35 points, or 0.2%, to 15,038

    On Tuesday, the Dow booked a fifth straight record close, while the S&P 500 rose and the Nasdaq extended its winning streak to a ninth day.

    What’s driving markets

    U.S. stocks were edging higher on Wednesday with the S&P 500 less than 1% shy of the all-time closing high of 4796.56 it recorded at the start of January 2022, while the Dow industrials and Nasdaq were struggling to extend their nine consecutive daily gains.

    The Wall Street large-cap benchmark S&P 500 has jumped 24.3% this year, partially powered by hopes that the U.S. economy has not been too badly damaged by the Federal Reserve’s ratcheting up of interest rates to cool inflation.

    The latest leg of the rally reflects hopes that with inflation back down to 3.1%, the central bank will begin quickly trimming borrowing costs next year. Not even an concerted effort by Fed officials to counter the market’s rate-cut optimism has damped trader’s ardor.

    This dismissal of less-dovish Fedspeak has left some observers bemused.

    “Investors are dreaming of aggressive rate cuts in an environment of strong economic growth, and that is not the right recipe for easing inflation and keeping it sufficiently low,” Ipek Ozkardeskaya, senior analyst at Swissquote Bank. “The robust economic data and high earnings expectations are not compatible with a dovish Fed,” she said.

    See: Why the 60-40 portfolio is poised to make a comeback in 2024

    Perhaps the current bullishness is also reflective of seasonal trends, with optimism about a festive bounce underpinning stocks. The “Santa Claus Rally” period stretches from the last five trading days of the year and first two trading days of the new year, according to the Stock Trader’s Almanac.

    Since 1950, the S&P 500 has averaged a gain of 1.32% and closed higher 78.1% of the time over that period, according to Dow Jones Market Data.

    SOURCE: DOW JONES MARKET DATA

    In U.S. economic data, existing-home sales rose 0.8% in November to 3.82 million, the National Association of Realtors said on Wednesday. Sales of previously owned homes unexpectedly inched up last month, snapping a five-month slump as easing mortgage rates encouraged some U.S. homebuyers.

    Meanwhile, U.S. consumer confidence index rose to 110 in December, up from a downwardly revised 101 in the previous month, the Conference Board said Wednesday.

    “The consumer is feeling pretty well as rates move lower, employers add to their payroll, and income expectations improve,” said Jeffrey J. Roach, chief economist at LPL Financial. “So far, investors have a green light as they merge into the new year.”

    That said, investors will continue seeking guidance from more economic data due later this week that may provide more clarity on the Fed’s interest-rate path in 2024. A revision of third-quarter GDP print is expected on Thursday morning, followed by Friday’s personal consumption expenditure (PCE) inflation report — the Fed’s preferred inflation gauge.

    Companies in focus

    • Shares of Alphabet Inc.
      GOOGL,
      +2.82%
      were jumping 3.3% on Wednesday following a report that said its Google unit plans to reorganize a large part of its advertising sales unit.

    • Shares of FedEx Corp.
      FDX,
      -10.56%
      were slumping 11% after the package-delivery giant trimmed its full-year sales forecast, amid continued concerns about subdued shipping demand through the peak holiday season.

    • Shares of General Mills Inc. 
      GIS,
      -2.26%
       were off 2.8% after the consumer-foods company reported fiscal second-quarter profit that beat expectations, while revenue missed and the full-year outlook as consumers continue “stronger-than-expected value-seeking behaviors.” 

    • Toro Corp.’s stock 
      TORO,
      -2.15%
      was down 2.2% despite the lawn mower company’s fourth-quarter profit and revenue beat analyst estimates. 

    Source link

  • Instacart, Ford, Pinterest, Coty, Dollar General, Intel, and More Stock Market Movers

    Instacart, Ford, Pinterest, Coty, Dollar General, Intel, and More Stock Market Movers

    This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.

    https://www.barrons.com/articles/stock-market-movers-457cee3b

    • Order Reprints
    • Print Article
    [ad_2]
    Source link

  • GIS Stock Price | General Mills Inc. Stock Quote (U.S.: NYSE) | MarketWatch

    GIS Stock Price | General Mills Inc. Stock Quote (U.S.: NYSE) | MarketWatch

    General Mills, Inc. engages in the manufacture and marketing of branded consumer foods sold through retail stores. Its product categories include snacks, ready-to-eat cereal, convenient meals, pet food, refrigerated and frozen dough, baking mixes and ingredients, yogurt, and ice cream. The firm operates through the following segments: North America Retail, International, Pet, and North America Foodservice. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains, convenience stores, and e-commerce grocery providers. The International segment refers to the retail and foodservice businesses outside of the US and Canada. The Pet segment includes pet food products sold in national pet superstore chains, e-commerce retailers, grocery stores, regional pet store chains, mass merchandisers, and veterinary clinics and hospitals. The North America Foodservice segment offers ready-to-eat cereals, snacks, refrigerated yogurt, frozen meals, unbaked and fully baked frozen dough products, baking mixes, and bakery flour. The company was founded by Cadwallader C. Washburn on June 20, 1928 and is headquartered in Minneapolis, MN.

    Source link

  • These 6 Food Stocks Have Gotten Hit Hard. It’s Time to Chow Down.

    These 6 Food Stocks Have Gotten Hit Hard. It’s Time to Chow Down.

    This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.

    https://www.barrons.com/articles/6-beaten-down-food-stocks-buy-c93ad194

    • Order Reprints
    • Print Article

    Food stocks are worth a nibble after their worst showing relative to the


    S&P 500


    in …

    Source link

  • InfraMarker Brings RFID Power to Esri Field Operation Applications

    InfraMarker Brings RFID Power to Esri Field Operation Applications

    InfraMarker RFID App is now fully integrated with Esri’s ArcGIS Survey123 and ArcGIS Field Maps mobile applications


    MADISON, Wis., July 6, 2023 (Newswire.com)
    –
    Berntsen International, Inc, a leading manufacturer of infrastructure marking products, announces that its InfraMarker RFID app is now fully integrated with Esri’s ArcGIS Survey123 and ArcGIS Field Maps mobile applications.

    Berntsen’s InfraMarker app connects passive UHF RFID – the fastest-growing asset identification technology in the world, with Esri’s ArcGIS, the global market leader in geographic information system (GIS) software. The InfraMarker app enhances Esri’s field data collection tools with the ability to read RFID tag information, write data to an RFID tag, associate the RFID serial number with the asset record in the GIS database, and launch inspection and management forms with an RFID interrogation. 

    “We are proud to bring RFID – the serial number of IoT – to Esri customers across the globe. We are confident that infrastructure managers in utilities, public works, and construction will realize speed, reliability, and cost benefits with InfraMarker RFID,” said Mike Klonsinski, president of Berntsen.

    InfraMarker, a division of Berntsen International, is the leader in connected RFID-enabled infrastructure asset marking products and software. The InfraMarker line includes rugged RFID-enabled marking products, RFID readers and accessories, and RFID-connecting software to enhance GIS and asset management platforms.

    About Berntsen International, Inc.

    Since 1972, Berntsen International has provided high-quality marking products to define the boundaries and infrastructure of the world.  Berntsen marking products have been deployed throughout the world and its survey caps and monuments are recognized as the global standard. 

    Berntsen’s commitment to better infrastructure marking is taken to the next level with its innovative InfraMarker line of software, products, and solutions. The InfraMarker approach enables a connected infrastructure world by linking GIS platforms with RFID asset marking technology. Connected RFID infrastructure improves safety and field operations management for utilities, municipalities, and other organizations desiring better field asset management. 

    Berntsen is a Silver Partner in the Esri Partner Network, and InfraMarker RFID is an approved ArcGIS System Ready Specialty accessible on Esri’s ArcGIS Marketplace. Visit Inframarker.com for more information and to purchase an introductory InfraMarker RFID package.

    Source: Berntsen International, Inc.

    Source link

  • General Mills Reports Weak Sales. Its Outlook Isn’t Great Either.

    General Mills Reports Weak Sales. Its Outlook Isn’t Great Either.

    General Mills Reports Weak Sales. Its Outlook Isn’t Great Either.

    Source link

  • ‘Greedflation’ is replacing inflation as companies raise prices for bigger profits, report finds

    ‘Greedflation’ is replacing inflation as companies raise prices for bigger profits, report finds

    That’s the practice by many S&P 500 food and consumer companies of raising prices to protect what a new report calls their “cushioned corporate profits,” and it has enabled them to boost margins through the current inflationary period.

    Companies including Kimberly-Clark Corp.
    KMB,
    -0.45%    ,
    PepsiCo Inc.
    PEP,
    -0.18%    ,
    General Mills Inc.
    GIS,
    -0.88%
    and Tyson Foods Inc.
    TSN,
    -0.36%
    have on recent earnings calls touted their ability to raise prices, earning tidy profits and rewarding their shareholders as they go, according to the report from Accountable.US, a liberal-leaning consumer-advocacy group.

    And they have signaled their intention to continue to take “price actions” even as the Federal Reserve has hiked interest rates an unprecedented 10 times in an effort to tame inflation.

    “Higher interest rates haven’t stopped S&P companies, especially in the big food industry, from raising consumer prices despite reporting billions in extra net earnings and over a trillion dollars in new giveaways to wealthy investors,” said Liz Zelnick, director of economic security and corporate power at Accountable.US.

    “Corporate greed is a stubborn thing and requires serious action from Congress. The Fed has not seen an adequate return on its investment in a policy that has already created fissures in the economy that could lead to recession. It’s just not worth it,” she said. 

    Now read: Skip, pause or hike? A guide to what is expected from the Fed on Wednesday.

    Accountable.US is not alone in calling out price hikes on essentials including food. Walmart Inc.
    WMT,
    +0.73%
    is also unhappy with packaged-food companies that have steadily raised prices in dry grocery and consumable goods, according to a recent report from research company CFRA.

    “Given Walmart’s enormous bargaining power over its suppliers, we expect the retail giant to push back on further price increases from its packaged-food suppliers,” he said. That is expected to hurt margins, especially if volume growth does not recover.

    For more, see: Inflation in goods from cereal to soup has given a boost to consumer food stocks. Can Walmart help bring prices, both food and stock, down?

    May inflation data released Tuesday found that food prices were up 0.2% from April, after remaining flat for the previous two months. Food prices are up 6.7% over the last year. The food-at-home index is up 5.8% over the last year, while the index for cereals and bakery products is up 10.7%.

    Food prices started to rise about two years ago, when supply-chain issues and higher fuel and commodity prices led companies to pass some of those costs on to customers.

    But companies appear determined to raise prices even more, despite a decline in shipping and gas costs. Gasoline was down 5.6% in May from April and fuel oil fell 7.7%, according to consumer-price-index figures.

    Also read: U.S. inflation slows again, CPI shows, and might keep Fed on sidelines

    Kimberly-Clark executives told analysts on its recent earnings call that the company is able to “rapidly implement broad pricing actions” and acknowledged that “pricing has continued to be a big driver behind our top-line growth.”

    The company’s first-quarter earnings topped expectations and it raised guidance for the full year. That’s after it raised prices by 10% for a second straight quarter, driving margins wider by 340 basis points.

    Shareholders were rewarded to the tune of $425 million during the quarter, the Accountable.US report notes.

    See also: Colgate-Palmolive’s stock pops after earnings beat as company raises prices by double-digit percentage

    PepsiCo Chief Executive Ramon Laguarta told analysts on that company’s recent earnings call that most of its price increases are behind it.

    However, he said, “obviously, there are some markets, highly inflationary markets around the world, where we might have to take additional pricing. If you think about Argentina, Turkey, Egypt — those kinds of markets where the currencies are suffering. But the majority of our pricing is already done,” he said, according to a FactSet transcript.

    PepsiCo’s 2022 earnings rose 16.9% to nearly $9 billion, and it spent more than $7.6 billion on stock buybacks and dividends, with the former up 1,313% from 2021.

    General Mills, meanwhile, bragged about “getting smart about how we look at pricing” on its recent call. The parent of brands including Cheerios, Nature Valley, Blue Buffalo pet products and Pillsbury raised its fiscal 2023 guidance in February.

    And Tyson executives touted the “significant pricing power of our portfolio with a year-over-year increase of 7.6%.” Tyson’s latest quarter included a surprise loss, as it was hit by weak demand for meat, along with plant closures and job cuts.

    For more, see: Tyson Foods stock slides after meat producer swings to surprise loss

    But Tyson had net income of over $3.2 billion in 2022, up from $3 billion in 2021, and it rewarded shareholders with $1.35 billion in buybacks and dividends.

    For Accountable.US, it’s more compelling evidence that the Fed’s rate-hike strategy “has failed to root out one of the main drivers of inflation and should give the [Federal Open Market Committee] pause before lifting rates again this week to the detriment of jobs and the economy.”

    The Consumer Staples Select Sector SPDR exchange-traded fund
    XLP,
    +0.36%
    has fallen 1.6% to date in 2023, while the SPDR S&P Retail ETF
    XRT,
    +1.89%
    has gained 4.6%. The S&P 500
    SPX,
    +0.62%
    has gained 13% in the same period.

    Source link

  • Credit Suisse, UBS, First Republic, and More Stock Market Movers

    Credit Suisse, UBS, First Republic, and More Stock Market Movers

    This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.

    https://www.barrons.com/articles/stock-market-movers-a86267f

    • Order Reprints
    • Print Article
    [ad_2]
    Source link

  • Walmart, Home Depot, Meta, DocuSign, Medtronic, and More Stock Market Movers

    Walmart, Home Depot, Meta, DocuSign, Medtronic, and More Stock Market Movers

    This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.

    https://www.barrons.com/articles/stock-market-movers-5b0c54ae

    • Order Reprints
    • Print Article

    Source link

  • Wilmington, NC, Firm Awarded Over $1Million in New 2023 Contracts, Launches New Drone Division

    Wilmington, NC, Firm Awarded Over $1Million in New 2023 Contracts, Launches New Drone Division

    Press Release
    –

    Feb 7, 2023 07:00 EST


    WILMINGTON, N.C., February 7, 2023 (Newswire.com)
    –
    Geo Owl, a premier provider of Geographic Information Systems (GIS) technology and services, is proud to announce new 2023 contract awards totaling over $1 Million in GIS-based digital cartographic production. The contracts will be operated from the company’s Wilmington, NC, headquarters and further expand their GIS support to the National Geospatial-Intelligence Agency and industry partners.

    Geo Owl’s CEO Nick Smith provided some insight into the new contracts: “Our team is very excited to expand our work with NGA and continue support to our amazing partners. We’ve built a unique and talented staff here in Wilmington, led by Tom Koch and Zach Stadelman, that is capable of continually improving our efficiency, accuracy and timeliness, which keeps elite national-level customers coming back to team Geo Owl.” Geo Owl has supported the National Geospatial Intelligence Agency since 2015 on various contract efforts, including high-priority national security missions.

    In addition, Geo Owl has invested over $150,000 into a new UAS Drone program, which includes the purchase of aerial drones, sensors, training, and field equipment. This program bolsters their existing GIS capabilities and enables the company to support new clients in the local government and commercial sectors with advanced and comprehensive geospatial services, including aerial mapping, data collection, processing, and analysis from their LiDAR, RGB, Thermal, and Multi-Spectral sensors.

    The company was founded in 2013 and has over 100 employees supporting vital national defense missions, including support to the United States Special Operations Command (Special Forces), the Army, the Marine Forces Special Operations Command (MARSOC) and national intelligence agencies. Their current contracts include Enterprise GIS support, Geospatial Intelligence Analysis, Software Development, and Intelligence, Surveillance, and Reconnaissance. Geo Owl’s Chief Growth Officer James Moore added, “We are proud of our decade of support to these elite customers and look forward to supporting local North Carolina government and commercial customers with the same commitment to quality and mission first ethos.” 

    To learn more, Geo Owl’s CEO hosts a semi-monthly video and audio podcast discussing GIS, geospatial, drones, ai and other technologies. 

    Follow Nick on Twitter

    Follow Geo Owl on Twitter

    To reach for comment, contact info@geoowl.com

    Source: Geo Owl

    Source link

  • LandMentor – Neighborhood Design Technology & Education to Increase Living Standards, Reduce Costs, & Environmental Impact – Now Free

    LandMentor – Neighborhood Design Technology & Education to Increase Living Standards, Reduce Costs, & Environmental Impact – Now Free

    LandMentor is a market-proven solution in innovative design, surveying, architecture & engineering methods with technology to solve growth problems.

    Press Release
    –

    Jun 27, 2022


    MINNEAPOLIS, June 27, 2022 (Newswire.com)
    –
    With today’s escalating construction costs and increased interest rates, the LandMentor System is being offered for free to those involved on the private and government side of growth and redevelopment.   

    Neighborhood Innovations, LLC is gifting this free system on July 1, 2022, to developers, builders, consultants and municipalities. It will increase living standards, greenspace, values, and connectivity – while decreasing costs and environmental impacts.

    LandMentor is a ‘System‘ that blends technology with an education in advanced market-proven design methods. It should decrease the infrastructure needed to develop land between 5 and 40 percent compared to conventional development patterns. This has obvious economic and environmental benefits.

    It was time to share the system:

    Neighborhood Innovations, LLC wanted to make a gift to the world to solve problems facing growth, from the regulatory (government) side and the design (consulting) side. With over 1,500 developments in 48 states and 18 nations designed with LandMentor, the firm felt it was time we spread the knowledge and share its technical advantage to the world.

    How can LandMentor improve the world’s growth? 

    CAD & GIS software companies serving the growth industry automate geometric relationships that have been in place for centuries.  

    Other software offerings boast that hundred lots can be designed and calculated in a few minutes, producing cookie-cutter subdivisions, but not likely a great place to live and raise a family. How could it be, with a minute of thought behind it?  

    To address this, LandMentor introduces an industry-first – a software packaged with a holistic industry education. For example, does Microsoft Word instantly make a great author? Obviously, no. But what if it was packaged with a complete education in storytelling or technical writing?

    Reducing (or eliminating) the dependence on CAD:

    LandMentor has no commands, and its patented graphic & video prompts make all tasks easier, quick to learn, and enjoyable.

    A ‘Surface Based’ solution:

    The world consists of surfaces – not lines and curves, and those surfaces have environmental and economic consequences. LandMentor reports surface impacts with easy-to-understand charts. Designers can take action to reduce waste, and cities can communicate the waste to the developer. 

    Changing the Way the Industry Communicates:

    LandMentor ‘video gaming’ interactive 3D is easily created from normal planning, surveying, and engineering tasks. Most users today will be familiar with video gaming. Thus, no learning curve. Its ‘plug & play’ VR headset support transports users into a meta virtual environment.  

    What’s Included? 

    All is needed is to download the ‘system’ from www.landmentor.com and dedicate the time (about a week or two) to go through the included initial training (video and PowerPoint with examples) as well as the internal textbooks under the Help menu. LandMentor reverts to a subscription model in 2024. Pricing is to be based on the volume of users (projected to be 10% to 20% the cost of CAD).

    About LandMentor.com:

    LandMentor was developed by Neighborhood Innovations, LLC, a software spin-off of Rick Harrison Site Design Studio which is a Land Planning research firm to discover new methods of design, engineering, surveying, and architecture. Its profits funded the software development.

    Richard Harrison, President

    763-545-0216

    rharrison@landmentor.com

    Source: Neighborhood Innovations, LLC

    Source link