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Diageo became the latest multinational to measure the impact of the coronavirus epidemic on Wednesday as the world’s biggest spirits maker said the virus could hit profits by up to £200 million ($258.5 million) in 2020. For weeks, companies across the globe have avoided quantifying the true cost of the virus and its potential damage, instead telling investors they were […]
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Tyson Foods Inc. says it’s just starting to see the benefits of the African swine fever outbreak in China, which includes a 600% year-over-year increase in pork orders to China in the fiscal first quarter. The meat producer says it is moving toward a ractopamine-free hog supply, which should open additional markets for its pork products. Ractopamine is a feed […]
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Aurora Cannabis Inc. stock is set to go to $1, according to an analyst. In a note to clients late Thursday, Piper Sandler analyst Michael Lavery downgraded the cannabis producer to the equivalent of a sell and issued a $1 target price, down from $3. Lavery cited risks related to the balance sheet and weak European Union sales as significant […]
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After a brutal year for cannabis investors, weed stocks on Tuesday were rebounding in the final trading session of 2019. Exchange-traded funds that track cannabis companies jumped more than 5% in Tuesday trading. The Horizons Marjiuana Life Sciences Index ETF HMMJ, +7.10% gained 7.7%, the ETFMG Alternative Harvest ETF MJ, +5.61% rose 5.3% and the Cannabis ETF THCX, +5.93% rose 5.7% — reflecting […]
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If McDonald’s Corp. decides to add the P.L.T. to its menu in the U.S., there a good chance Beyond Meat Inc. won’t be the only plant-based burger provider the quick-service giant partners with, UBS said Tuesday. McDonald’s MCD, +0.13%announced in September that it was testing the P.L.T., or plant, lettuce and tomato, in Ontario, Canada. Analysts question whether the test […]
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Shares of Premier Protein-branded snacks maker BellRing Brands Inc. BRBR, +3.59% surged 3.7% toward fresh highs in morning trading Monday, after a host of Wall Street analysts started coverage of the recent IPO will bullish ratings. Of the 8 analysts surveyed by FactSet, 7 set ratings at the equivalent of buy and 1 had a rating of the equivalent hold. […]
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Dunkin Brands Group Inc. and Starbucks Corp. are racing to make the fastest coffee in the market. Dunkin’ DNKN, -2.57% chief Executive David Hoffmann talked up the 40% third-quarter sales growth in its espresso drinks, with the new Signature Latte line leading the way. Moreover, he said, they’re still making a quick cup. “And most importantly, we’ve maintained our operational […]
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One of Wall Street’s biggest concerns about Beyond Meat Inc.’s stock is that current valuations limit potential gains, but the odds are now ‘very high’ that problem will be fixed soon, ironically, by the bears. Beyond Meat investors got what they were waiting for Thursday, as McDonald’s Corp. said it will begin testing in Canada a burger with a Beyond […]
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Boris Johnson has suffered his first resignation over his bombshell decision to shut down Parliament for a month over Brexit . Lord Young of Cookham resigned as a government spokesman today in protest at the "tinpot" Prime Minister's bid to thwart MPs having their say on no-deal. The former leader of the House of Commons under David Cameron said he […]
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ACKSON, Miss. (AP) — A federal lawsuit says Mississippi is violating free-speech rights by banning makers of plant-based foods from using terms such as “meatless meatballs” and “vegan bacon.” The lawsuit against Mississippi Republican Gov. Phil Bryant and the state’s Republican agriculture commissioner, Andy Gipson, was filed Monday by the Plant Based Foods Association and the Illinois-based Upton’s Naturals Co. […]
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