Kraft Heinz (KHC) missed earnings expectations on third-quarter revenue. John Baumgartner, Mizuho Managing Director and Senior Consumer Equity Research Analyst, joins Yahoo Finance Live to break down what these numbers suggest about the food brand's outlook. Baumgartner notes price elasticity and concerns on GLP-1 weight loss drugs as factors that have lowered expectations for sales. Despite this, Baumgartner insists that this does not change the outlook. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Kraft Heinz (KHC) missed earnings expectations on third-quarter revenue.
John Baumgartner, Mizuho Managing Director and Senior Consumer Equity Research Analyst, joins Yahoo Finance Live to break down what these numbers suggest about the food brand's outlook. Baumgartner notes price elasticity and concerns on GLP-1 weight loss drugs as factors that have lowered expectations for sales.
Despite this, Baumgartner insists that this does not change the outlook.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Barrons.com
The stock market is higher on Wednesday. The Dow Jones Industrial Average is up 126 points, or 0.4%, while the S&P 500 is gaining 0.5%, and the Nasdaq Composite is up 0.6%. The data indicate that economic demand and the rate of inflation is on the decline, which means the Federal Reserve — while likely to keep interest rates elevated for some time — is more likely to cut rates at some point within the next year.
The Wall Street Journal
Inflation-weary shoppers are [resisting higher grocery prices](https://www.wsj.com/articles/inflation-groceries-cookouts-chicken-eggs-prices-88ac75d0), but Kraft Heinz is vowing not to discount its products too much.
Bloomberg
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Reuters
Fourth-quarter margins could also take a hit as the company aligns inventory with demand, DuPont said, joining chemical makers such as Dow and Eastman Chemical in flagging pressure in the second half from weakness in key markets like China and Europe. DuPont highlighted volume headwinds from its network of distributor destocking following excess inventory built up during the COVID-19 pandemic, and said it expects the destocking effects to cease by the second quarter of 2024. "We're not doing it (restructuring) in response to what's going on ... we'll get going on it by the middle of December," CEO Edward Breen said on a conference call.
Investopedia
Rates dipped for almost every mortgage type Tuesday, including a drop in the 30-year average to its lowest point in two weeks. Only some adjustable-rate averages held steady.
Bloomberg
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