It wasn't supposed to be this way: The 2017 tax cut and aggressive moves toward deregulation were supposed to pull the U.S. economy out of its glacial move higher.Economyread more
President Trump says Iran may not have intentionally downed an unmanned U.S. surveillance drone.Politicsread more
Slack pursued an unusual direct listing, meaning it did not have banks underwrite the offering.CNBC Disruptor 50read more
Slack's CEO said that the company didn't want to go public via an IPO so that it could be as transparent and accessible as possible.Deals and IPOsread more
Oil jumped as much as 6% on Thursday after Iran shot down a U.S. military drone, prompting President Trump to blast Tehran on Twitter.Energy Commoditiesread more
If Facebook cut corners in something as basic as the branding of its nascent crypto efforts, this dispute could give ammunition to its many critics.Financeread more
Workers in the gig economy could get short changed when it comes to their Social Security checks in retirement. That's because the growing ranks of people who earn money on...Personal Financeread more
CNBC analysis using Kensho found that Disney, Verizon and Home Depot were some of the best performing Dow stocks in declining-rate environments.Investingread more
For doubters thinking the rally is just a last gasp of the decadelong bull market, chart analysts are here to prove them wrong.Marketsread more
Notorious "pharma bro" Martin Shkreli has reached a settlement with his former biopharmaceutical company Retrophin to resolve "all outstanding disputes" just week after he...Biotech and Pharmaceuticalsread more
"The slowdown in the global economy is reaching this shore," veteran trader Art Cashin says.Economyread more
Snack food giant Mondelez International on Friday affirmed its earnings targets for the year and provided new forecasts for 2019 as new CEO Dirk Van de Put outlined the snack giant's long-term strategy at its annual investor day in Boston.
In his first interview since taking the helm last year, Van de Put told CNBC that Mondelez is undervalued. Shares slid 3.3 percent Friday and have dipped nearly 2 percent this year.
"We are at the moment a biscuit, chocolate, gum and candy company. But if you think about Oreos, where you already can see the example, Oreos is in ice cream, Oreo's in yogurt, you can find Oreo brownie," Van de Put said. "So we have brands that can play across these categories and we're gonna do a bigger driver towards that also."
The maker of Nabisco biscuits, Ritz crackers and Chips Ahoy cookies expects revenue to grow 1 percent to 2 percent this year. It also plans to buy back approximately $2 billion in shares.
For next year, Mondelez anticipates revenue to rise by 2 percent to 3 percent and adjusted earnings per share to grow by 3 percent to 5 percent. The company is projecting approximately $2.8 billion in free cash flow.
Over the long term, Mondelez said, it's targeting annual revenue growth of 3 percent or more, adjusted earnings per share in the "high-single" digits, free cash flow of $3 billion or more and dividend growth that outpaces adjusted earnings per share growth.
Its revenue forecasts are "organic," meaning they exclude fluctuations in sales from acquisitions or divestitures.
Mondelez gave its financial targets as it unveiled a new tagline, "snacking made right." The company said this builds on Mondelez's promise to offer consumers "the right snack, for the right moment, made the right way."
The new strategy comes as Van de Put settles into his new role. He took over as CEO of the snack giant last fall after longtime CEO Irene Rosenfeld retired.
The packaged food category has struggled as consumers ditch boxed and canned food in favor of more fresh foods and niche brands. Snacks are a growth opportunity, though, especially among younger consumers.