×

Food and Beverage Beverages

  • Feb 16- Tater Tots-maker Kraft Heinz Co's muted quarterly results echoed those of rival Campbell Soup Co as more Americans opted for healthier meals, a trend that has pressured shares of processed food makers for several quarters now. Kraft Heinz, owner of brands such as Velveeta cheese and Heinz ketchup, said on Friday that retailers in Canada were stocking...

  • Starbucks chief digital officer Adam Brotman.

    Adam Brotman, a Starbucks executive who transformed the company into a tech innovator, is leaving the company for J Crew, Recode reports.

  • More competition in developed markets and a supply shortfall of its Ore-Ida branded potato-based frozen foods are among reasons why the company is cautious about short-term revenue growth, Chief Exectuive Officer Bernardo Hees said on a call with analysts. "We are seeing in the short-term some headwinds that will cause near-term sales to be below run rate...

  • For the fourth quarter, however, the company took a $3.6 billion charge related to the tax law, resulting in a net loss compared with a profit a year earlier. Net operating revenue fell to $7.51 billion from $9.41 billion a year earlier due to ongoing efforts to refranchise its bottling operations, but beat the average analyst estimate of $7.36 billion, according...

  • Jim Cramer: Cola wars have ended, so everyone's making money

    The "Squawk on the Street" crew discusses Coca-Cola's quarterly earnings report.

  • Jamaican bobsled team to compete at the Sochi Winter Olympics.

    Jamaican beer company Red Stripe bought the Jamaican bobsled team a new bobsled after the departure of the team's coach, USA Today reports.

  • Net operating revenue fell to $7.51 billion from $9.41 billion a year earlier, but beat the average analyst estimate of $7.36 billion, according to Thomson Reuters I/B/E/S. The Fanta and Diet Coke maker reported a net loss of $2.75 billion, or 65 cents per share, in the fourth quarter ended Dec. 31, mainly due to a $3.6 billion charge related to the new tax law.

  • ATLANTA— Coca-Cola swung to a fourth-quarter loss after being hit with a $3.6 billion tax charge tied to a sweeping overhaul of the nation's tax laws. The Atlanta company reported a loss of $2.75 billion, or 65 cents per share. Earnings, adjusted for one-time gains and costs like the tax hit, came to 39 cents per share, which was a penny better than analysts had...

  • The Fanta and Diet Coke maker reported a net loss of $2.75 billion, or 65 cents per share, in the fourth quarter ended Dec. 31, mainly due to the charge. A year earlier, the company had posted a profit of $550 million, or 13 cents per share. Net operating revenue fell to $7.51 billion from $9.41 billion a year earlier, mainly due to the refranchising of its bottling...

  • The Roanoke Times reports that Stone Brewing, based in California with a brewery in Richmond, filed the lawsuit on Monday accusing MillerCoors Keystone beer's rebranding of overtly copying and infringing on the Stone trademark. It says the new Keystone label emphasizes the word "Stone," and that MillerCoors has launched a social media campaign intended to...

  • Brazil is the world's largest exporter of instant coffee, as well as green coffee beans, but droughts in 2015 and 2016 hammered the robusta crop in Espírito Santo state, the nation's top producer of the variety most used in the manufacture of the product. Brazil lost business to competitors in Asia, as prices soared and the country was not able to import its own...

  • HUNTER VALLEY, Australia/ SHANGHAI, Feb 15- Wang Zhe, a wealthy Chinese businessman from Guangzhou, liked his glass of decade-old Chardonnay at an Australian winery so much he wanted more. It was the sort of offer, made over roast lamb and vegetables at a dinner in Wang's honour, that has sent Australian wine exports to China soaring by 63 percent, hitting A $848...

  • GENEVA— Swiss food and beverage giant Nestle said Thursday that it is ending its agreement with the well-heeled Bettencourt family of France over the L'Oreal cosmetics empire and is exploring options for its Gerber Life Insurance business. It said its shareholding in L'Oreal was an "important investment" and expressed confidence in the French cosmetics...

  • HUNTER VALLEY, Australia/ SHANGHAI, Feb 15- Wang Zhe, a wealthy Chinese businessman from Guangzhou, liked his glass of decade-old Chardonnay at an Australian winery so much he wanted more. It was the sort of offer, made over roast lamb and vegetables at a dinner in Wang's honour, that has sent Australian wine exports to China soaring by 63 percent, hitting A $848...

  • DENVER _ Molson Coors Brewing Co. on Wednesday reported fourth-quarter net income of $588.8 million. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share. Three analysts surveyed by Zacks expected $2.6 billion.

  • AmerisourceBergen Corp., up $8.32 to $97.77. The Wall Street Journal said Walgreens Boots Alliance is interested in buying the rest of the prescription drug distributor. GNC Holdings Inc., up 76 cents to $4.95.

  • MOSCOW, Feb 13- Lithuanian dairy company Pieno Zvaigzdes said on Tuesday it had no plans to produce cheese in Russia after the local government announced it intended to do so. A spokeswoman for Russia's Moscow region agricultural ministry said earlier Pieno Zvaigzdes could produce 12,000 tonnes of cheese per year starting next year, a move that would bypass a...

  • Feb 13- Activist investor Nelson Peltz will leave the board of Mondelez International Inc, but keep the seat for his hedge fund, after saying he was happy with the progress made by the confectionary company since he joined in 2014.. He will be replaced by Trian President Peter May. Mondelez on Tuesday also named former Reynolds American CEO Debra Crew to its board.

  • MOSCOW, Feb 13- Lithuanian dairy company Pieno Zvaigzdes plans to start producing cheese in Russia's Moscow region next year, a regional agricultural ministry spokeswoman said, a move that would bypass a ban on some food imports. Russia is switching to producing more dairy products locally after the government banned some Western foods in 2014, including...

  • *2017 op profit 3.76 bln euros vs 3.75 bln expected. BRUSSELS, Feb 12- Volatile markets and an acquisition in Brazil prompted the world's second largest brewer Heineken to warn its profitability in 2018 would improve by less than the target it had set for the previous three years. The Dutch brewer, whose Heineken lager is the top seller in Europe, had a target of...