Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
"If I look at food [companies], they're doing pretty good," Van de Put he said in a "Mad Money" interview. "I would say as it relates to their overall life circumstances and how the middle class feels ... the lower class — they don't feel well at the moment."
Geopolitical issues, such as Great Britain's impending breakup with the European Union, is causing uncertainty and weighing on overall consumer confidence, Van de Put said.
But the packaged food company has found success by adapting to changing consumer tastes, especially those of millennials, said Van de Put, who has led the company since the end of 2017. That demographic of shoppers has demanded more and more snack products, he added.
"They're snacking, well, because it's a lifestyle change," he said. "Consumers are more on-the-go, they eat more out of [the] home — millennials particularly don't really want to sit down and have a big meal. They want to sort of fuel themselves, and they eat 7 times a day, so snacking is really growing as a habit and also the market is growing as a consequence of that."
The Illinois-based parent of Nabisco, Oreo, Philadelphia Cream Cheese and other recognizable brands recorded nearly 4% organic sales growth and more than 8% growth in emerging markets in its April quarterly earnings report. The stock has rallied nearly 30% this year.
Mondelez has also relied on its research team to leverage the fact that food consumption differs in each market. Take China, where the snack manufacturer successfully rolled out an Oreo campaign and entered the wafers segment that connected with the local customer.
"I don't think consumers ... want to eat the same thing all over the world, and we're trying to adapt to that," Van de Put said. "We try to get local insight and talk to [consumers], listen to them, observe their snacking behaviors and they will tell you if they like it or they don't like it and from there we develop our product."
Van de Put hinted at more growth on the horizon in the domestic market with the company's premium cookie Tate's, which it began selling after acquiring Tate's Bake Shop in May 2018 for $500 million. The fast-growing brand also makes other baked goods.
"It's on fire. It's really growing very fast. It still isn't in every store in the U.S., so it's huge potential," he said. "And in the store it's in, it doesn't have enough space. It needs more space because it's out of stock all the time."
Shares of Mondelez fell 2.23% during the session Tuesday. The stock is $2 off its all-time high, set in mid-May.