Lisa's Feed
Nov 17, 2014

Starbucks says wrongly accused of fighting Vermont GMO labeling law

By Lisa Baertlein

(Reuters) – Starbucks Corp said on Monday it has been wrongly accused in online petitions of supporting a Grocery Manufacturers Association lawsuit to block Vermont’s GMO labeling law.

Petitions posted to websites such as Sumofus.org and Care2.com accused Starbucks of teaming with fellow GMA member Monsanto Co to kill GMO labeling in Vermont, which in May became the first U.S. state to pass a mandatory GMO labeling law that did not require another state to go first.

Nov 17, 2014

Tyson profit beats expectations, helped by high meat prices

By Lisa Baertlein

(Reuters) – Tyson Foods Inc (TSN.N: Quote, Profile, Research, Stock Buzz), the largest U.S. meat processor, on Monday forecast 2015 profit that could top Wall Street’s view due to record beef prices, lower feed costs and its recent purchase of sausage seller Hillshire Brands.

Shares of Tyson, which also reported better-than-expected profit for the latest quarter, were up more than 5 percent at midday.

Nov 14, 2014

Jana in 3rd qtr took new stake in Valeant, upped stake in eBay

NEW YORK, Nov 14 (Reuters) – Jana Partners LLC, the $11
billion hedge fund run by Barry Rosenstein, took a new stake in
Valeant Pharmaceuticals International Inc and vastly
increased its holdings of online auction site eBay Inc
in the third quarter, according to a regulatory filing on
Friday.

Jana bought 1.284 million shares of Valeant during the third
quarter, which has been trying to buy Botox-maker Allergan Inc
this year. But the hostile bid soon brought scrutiny
from the U.S. Securities and Exchange Commission, which began
looking at the potential deal in August.

Nov 14, 2014

Jana Partners takes new stakes in Alibaba, McDonald’s in third quarter

NEW YORK (Reuters) – Jana Partners LLC, the $11 billion hedge fund run by Barry Rosenstein, took new stakes in Chinese e-commerce company Alibaba and fast food company McDonald’s Corp in the third quarter, according to a regulatory filing on Friday.

Alibaba Group Holding Ltd’s $25 billion listing in September set records as the largest ever. While that initial public offering priced at $68 per share, the stock has since surged to about $115.

Nov 14, 2014

Jana Partners takes new stakes in Alibaba, McDonald’s in 3rd qtr

NEW YORK, Nov 14 (Reuters) – Jana Partners LLC, the $11
billion hedge fund run by Barry Rosenstein, took new stakes in
Chinese e-commerce company Alibaba and fast food
company McDonald’s Corp in the third quarter, according
to a regulatory filing on Friday.

Alibaba Group Holding Ltd’s $25 billion listing in September
set records as the largest ever. While that initial public
offering priced at $68 per share, the stock has since surged to
about $115.

Nov 4, 2014

U.S. soda makers headed for tax showdown in California

BERKELEY Calif/NEW YORK (Reuters) – No American city has passed a ballot measure raising taxes on sugary drinks, and ahead of votes Tuesday in Berkeley and San Francisco, the U.S. soda industry has been working hard to keep it that way.

In Berkeley alone, the American Beverage Association and its members have spent at least $2.1 million, or about $27 per eligible voter, to fight a ballot measure that would impose a new 1-cent per ounce tax on sugary beverages that supporters say would reduce consumption and battle obesity and diabetes.

Oct 25, 2014

Port squeeze threatens US retailers’ holiday stocking plans

CHICAGO/LOS ANGELES (Reuters) – A shortage of transportation equipment and possible labor disruptions at ​the Los Angeles/Long Beach port complex, ​the nation’s busiest, is delaying shipping containers for up to three weeks, threatening timely delivery to retailers for the holiday season.

The delays are affecting retailers including JC Penney Co (JCP.N: Quote, Profile, Research, Stock Buzz), Macy’s Inc (M.N: Quote, Profile, Research, Stock Buzz), Kohl’s Corp (KSS.N: Quote, Profile, Research, Stock Buzz) Nordstrom Inc (JWN.N: Quote, Profile, Research, Stock Buzz), American Eagle (AEO.N: Quote, Profile, Research, Stock Buzz), Ralph Lauren (RL.N: Quote, Profile, Research, Stock Buzz) and Carter’s (CRI.N: Quote, Profile, Research, Stock Buzz), according to three people with direct knowledge of the situation.

Oct 24, 2014

Exclusive: Port squeeze threatens U.S. retailers’ holiday stocking plans

CHICAGO/LOS ANGELES (Reuters) – A shortage of transportation equipment and possible labor disruptions at ​the Los Angeles/Long Beach port complex, ​the nation’s busiest, is delaying shipping containers for up to three weeks, threatening timely delivery to retailers for the holiday season.

The delays are affecting retailers including JC Penney Co (JCP.N: Quote, Profile, Research, Stock Buzz), Macy’s Inc (M.N: Quote, Profile, Research, Stock Buzz), Kohl’s Corp (KSS.N: Quote, Profile, Research, Stock Buzz) Nordstrom Inc (JWN.N: Quote, Profile, Research, Stock Buzz), American Eagle (AEO.N: Quote, Profile, Research, Stock Buzz), Ralph Lauren (RL.N: Quote, Profile, Research, Stock Buzz) and Carter’s (CRI.N: Quote, Profile, Research, Stock Buzz), according to three people with direct knowledge of the situation.

Oct 23, 2014

Dunkin’ Brands warns on U.S. Dunkin’ Donuts sales

Oct 23 (Reuters) – Dunkin’ Brands Group Inc on
Thursday warned that this year’s sales at established U.S.
Dunkin’ Donuts coffee shops will be weaker than forecast as more
chains try to take a bite out of the fast-food breakfast
business.

Shares in the company, which reaps roughly three-quarters of
total revenue from its U.S. Dunkin’ Donuts business, dropped 3.5
percent to $45.15 in Thursday morning trading on the Nasdaq.

Oct 21, 2014

McDonald’s CEO acknowledges image problems after tough results

Oct 21 (Reuters) – McDonald’s Corp Chief Executive
Officer Don Thompson owned up to some corporate image problems
on Tuesday after it posted a nearly one-third drop in quarterly
profit and warned that its global restaurant sales would fall
again this month.

Stock in the fast-food chain, which Thompson conceded is
sometimes seen as little more than “a manufacturing plant,” was
down 0.6 percent at $91 in afternoon trading after reporting a
30 percent fall in third-quarter net income to $1.07 billion and
traffic declines in every major region.

    • About Lisa

      "Lisa writes about restaurants and grocery stores. She is based in Los Angeles and previously has covered computer software, Internet companies, video games, prescription drugs and municipal bonds."
    • Follow Lisa