trending Market Intelligence /marketintelligence/en/news-insights/trending/C2Dpe6eqSDI5FAqfbXhD-A2 content esgSubNav
In This List

US FDA criticizes Juul's marketing policies; Wendy's cuts FY'19 EPS guidance

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


US FDA criticizes Juul's marketing policies; Wendy's cuts FY'19 EPS guidance

TOP NEWS

* The U.S. Food and Drug Administration in a letter accused Juul Labs Inc. of marketing its products as less harmful than other tobacco products without the proper regulatory approval to do so. In a second letter sent the same day, the FDA raised concerns about Juul's marketing practices and asked the company for more information about them. A Juul spokesperson said the company is "reviewing the letters and will fully cooperate."

* The Wendy's Co. cut its 2019 adjusted EPS outlook as it seeks to invest about $20 million to launch its breakfast menu, which is available in more than 300 restaurants, across the U.S. in 2020. The fast-food chain operator and its franchisees plan to add about 20,000 new jobs to support the expansion. Wendy's now expects full-year adjusted EPS to decline by 3.5% to 6.5%, compared with its previous forecast of adjusted EPS growth of 3.5% to 7%.

FOOD RETAIL & DISTRIBUTION

* Dutch grocer Koninklijke Ahold Delhaize NV will expand into the French-speaking part of Belgium in the summer of 2020 by allowing local shoppers to use the bol.com app using their native language.

* Amazon.com Inc. said it is looking to fill more than 30,000 full-time and part-time jobs in the U.S. The e-commerce company added that it is also hiring for tens of thousands of seasonal roles, which pay an hourly wage of $15, under its operations network for the upcoming holidays.

* Swedish food retailer ICA Gruppen AB said its August sales, excluding taxes, rose 3.4% to 10.57 billion kronor. Like-for-like sales increased by 3.2% year over year.

* Seven & i Holdings Co. Ltd. said total sales at its Seven-Eleven Japan Co. Ltd. unit increased 2.4% in August, while same-store sales rose 0.1% from the year-ago period.

* Uber Technologies Inc. will discontinue its restaurant delivery business Uber Eats in South Korea by Oct. 14 without disclosing a reason, Reuters reported, citing a company statement.

* Israeli food distributor G. Willi-Food International Ltd. canceled its planned acquisitions of a 10% stake in Miki Food Industries Fish and Salads Ltd., as well as a 70% stake in Bikurei Hasadeh North 1994 Ltd. due to failure in negotiations between the parties involved.

* Iowa-based Casey's General Stores Inc. reported fiscal 2020 first-quarter diluted EPS of $2.31, up 22% year over year from $1.90 and ahead of S&P Global Market Intelligence consensus normalized EPS estimate of $2.01. For the three months ended July 31, total revenue increased year over year to $2.63 billion from $2.59 billion.

BEVERAGES

* Magners cider maker C&C Group PLC said it would switch its stock listing to London's FTSE U.K. Index Series from the Euronext Dublin — and the denomination to sterling from euros — at the close of business Oct. 7 to reflect its shareholder base mostly in the U.K. and North America. The shares could be included in the FTSE All-Share Index and the FTSE 250 from Dec. 23.

* Dutch soft drinks bottler Refresco Group NV agreed to acquire Coca-Cola European Partners PLC's Milton Keynes manufacturing site in the U.K. for an undisclosed sum. Under the agreement, Refresco will also lease the Coca-Cola Co. bottler's warehouse site in the English town of Northampton, as well as its contract manufacturing activities. The deal is expected to be completed by 2019-end.

* Arizona-based The Alkaline Water Co. Inc. has agreed to acquire Los Angeles-based bottled water producer AQUAhydrate Inc. in an all-stock transaction. The revenue from the combined entity, which plans to launch a line of CBD-infused products, is projected to exceed $65 million for fiscal 2020 on a pro forma basis.

* Brewer Beam Suntory, a unit of Suntory Holdings Ltd., appointed Olga Osminkina-Jones as its chief innovation officer, as well as its head of its global research and development and ready-to-drink business in North America and international regions, excluding Japan.

TOBACCO & SMOKING PRODUCTS

* The American Medical Association is urging people to avoid using e-cigarettes amid the ongoing investigation into the reported cases of lung illnesses possibly linked to vaping, Reuters reported, citing AMA President Patrice Harris.

* British American Tobacco PLC said none of its vaping products contains oils with THC and vitamin E acetate, ingredients found in vaping liquids, in response to the U.S. Food and Drug Administration's statement regarding the cases of respiratory illnesses following the use of vaping products.

PACKAGED FOODS

* Advent International Corp. agreed to purchase up to 34.1 million shares of Indian packaged snack food manufacturer DFM Foods Ltd., representing up to a 68% majority stake, for 249.50 Indian rupees per share.

* Illinois-based food and beverage producer TreeHouse Foods Inc. appointed Amit Philip as its senior vice president and chief strategy officer. Most recently, Philip was vice president of analytics and insights at Hershey Co.

* Poultry processor Sanderson Farms Inc. said it received a subpoena from the U.S. Department of Justice in relation to the ongoing investigation into chicken price-fixing among the country's major poultry suppliers. Sanderson Farms said that it intends to comply with the subpoena.

* Cannabis-infused chocolate producer Bhang Inc. acquired organic-beverage maker Red Ace LLC for $2.0 million, in a bid to enter the functional beverage market.

* British food packaging business Hilton Food Group PLC said adjusted basic EPS for the 28 weeks ended July 14 increased to 22.8 pence from 21.2 pence in the year-ago period ended July 15.

RESTAURANTS

* Restaurant operator Bojangles' Inc. appointed Jose Costa as its chief development officer. Costa was most recently North America CEO at GrandVision NV.

INDUSTRY NEWS

* Brazil's Ministry of Agriculture said China granted export licenses to 25 meat processing plants, including those owned by BRF SA, Minerva SA and Marfrig Global Foods SA, as the Asian country's supply continues to suffer due to African swine fever, Reuters reported. Orlando Ribeiro, Brazil's trade and foreign relations secretary, said the country would welcome additional plant approvals. Separately, BRF confirmed that two of its plants, one each for poultry and pork, were authorized to export to China.

The day ahead

Early morning futures indicators pointed to a lower opening for the U.S. market.

In Asia, the Hang Seng rose 0.01% to 26,683.68, and the Nikkei 225 gained 0.35% to 21,392.10.

In Europe, around midday, the FTSE 100 dropped 0.26% to 7,217.27, and the Euronext 100 was down 0.64% to 1,073.50.

On the macro front

The Redbook Index for retail sales and the Labor Department's Job Openings and Labor Turnover Survey are due out today.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

The Daily Dose is updated as of 8 a.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.