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Food and Beverage Food Products

  • Green coffee prices are expected to rise through early 2017 on forecasts that demand will outstrip supply, as drought has hit coffee output from top grower Brazil for three straight years. The company's pet foods business, its biggest in terms of sales, has come under pressure from rivals Mars Petcare and Nestle's Purina, which are using promotions and...

  • Stocks to Watch: February 17, 2017

    Kraft Heinz, Unilever, Deere, and VF stocks are making headlines on Wall Street to wrap up the trading week.

  • LONDON, Feb 17- U.S. food company Kraft Heinz Co has proposed a merger with Unilever, but the Anglo-Dutch consumer goods company has declined, Kraft said on Friday. "Kraft confirms that it has made a comprehensive proposal to Unilever about combining the two groups to create a leading consumer goods company with a mission of long-term growth and sustainable...

  • LONDON, Feb 17- U.S. food company Kraft Heinz Co has proposed a merger with Unilever, but the Anglo-Dutch company has declined, Kraft said on Friday.

  • Smucker's pet foods business, its biggest in terms of sales, has also been hit by competition as rivals Mars Petcare and Nestle's Purina use promotions and discounts to lure customers. Smucker's net income fell to $134.6 million, or $1.16 per share, in the latest quarter from $185.3 million, or $1.55 per share, a year earlier. The company's net sales fell 5 percent to...

  • The company's net income fell to $134.6 million, or $1.16 per share, in the third quarter ended Jan. 31 from $185.3 million, or $1.55 per share, a year earlier. Smucker took a $75.7 million non-cash charge in the quarter related to certain trademarks within its pet foods business. Net sales fell 5 percent to $1.88 billion, their third straight decline.

  • Mexico buys nearly all its corn imports from the United States- shipments that totaled 13.603 million tonnes in the year ending Aug. 31, 2016. A grain buyer at a corn mill in Mexico told Reuters in an email on Thursday he had already asked for price quotes from Brazilian and Argentine exporters for corn shipments to Mexico. Mexico tends to import grain from South...

  • *Q4 adj profit of $0.08/ shr vs est. "We are guiding to a range of 2-3 percent for the next year, slightly lower than previous guidance of 3 percent," Chief Financial Officer Gunther Plosch said at Wendy's investor day. Chief Executive Todd Penegor said in August he was confident that Wendy's would grow at its long-term guidance of about 3 percent.

  • VEVEY, Switzerland, Feb 16- Nestle's new chief executive scrapped the food company's long-standing sales target as it reported disappointing annual results on Thursday, echoing rivals by striking a cautious tone in an uncertain environment. CEO Mark Schneider, who joined Nestle only last month, forecast a return to "mid-single-digit" growth by 2020, which...

  • The company also set a new $150 million share repurchase program and raised its quarterly dividend to 7 cents per share from 6.5 cents. However, Wendy's net income fell to $28.9 million, or 11 cents per share, from $85.9 million, or 31 cents per share, a year earlier, due to a sharp decline in net investment income. Excluding items, the company earned 8 cents per share, 1...

  • We will do deals when the time is right: Nestle CEO

    Nestle CEO Mark Schneider discusses his company's fourth-quarter earnings data, touching on disappointing volume growth and the need for stronger pricing.

  • VEVEY, Switzerland, Feb 16- Nestle's new chief executive scrapped the food company's long-standing sales target as it reported disappointing annual results on Thursday, adopting a more cautious tone in an uncertain environment. Unilever cited problems in Brazil and demonetization in India, while Danone pointed the finger at tough conditions in China.

  • Happy Leaf Kombucha is served in a Denver kombucha taproom.

    Legislation introduced by Colorado congressmen also aims to update regulations for kombucha companies nationwide.

  • Feb 15- Kraft Heinz Co, the maker of Velveeta cheese, Heinz ketchup and Oscar Mayer meats, reported a higher-than-expected adjusted profit, helped by lower costs. Last month, the company said it would form a joint venture with media mogul Oprah Winfrey to develop a new line of food products in the United States. Sales fell 3.8 percent to $6.86 billion, hit by a stronger...

  • LOS ANGELES/ NEW YORK, Feb 15- Charlie Munger, the billionaire vice chairman of Warren Buffett's Berkshire Hathaway Inc, said some of U.S. President Donald Trump's ideas may prove constructive for the country, tempering comments a year ago suggesting that his fellow Republican was not morally qualified for the White House. "Well, I've gotten more mellow," Munger...

  • *Chicken is cheap alternative to pork, China's favourite meat. BEIJING, Feb 15- Chinese chicken prices sank to their lowest level in more than a decade on Wednesday as fears grow about the spread of bird flu, hurting meat producers' share prices and deepening concerns about demand in the world's second-largest poultry consumer. The spread of the deadly virus comes...

  • BOSTON, Feb 14- William Stiritz, one of the largest investors in Herbalife Ltd, cut his stake in the nutrition and weight loss company to 1.4 percent at the end of the fourth quarter from 5.2 percent a year ago, according to a regulatory filing on Tuesday. At the same time billionaire investor Carl Icahn, who has sparred with rival billionaire William Ackman over the...

  • *Shares in UK engineer Rolls-Royce drops after record loss. MILAN, Feb 14- European shares steadied on Tuesday, as gains in the auto sector on news that PSA Group is in talks to buy General Motors' European auto operations and stronger banking stocks offset weaker consumer and pharma stocks. Shares in PSA Group rose 4.3 percent to an 18- month high after the French...

  • The Canadian snack deficit

    America has a giant trade deficit with Canada...in salty snacks. CNBC's Ylan Mui reports.

  • Shares of Atlanta- based Popeyes moved sharply higher on the news in afternoon trading. RBI and Popeyes have yet to agree on a deal price, and there is no certainty that negotiations will continue, the people said. Popeyes shares jumped 14 percent in New York, reaching a record $75.30 and giving the company a market capitalization of around $1.6 billion.