|Day's range||2.7400 - 2.8500|
The Zacks Food - Meat Products industry players, like Hormel Foods (HRL), Tyson Foods (TSN) and Beyond Meat (BYND), gain from the rising demand for protein-rich food and their constant expansion and innovative efforts amid cost inflation.
Buy now, pay later pioneer Affirm (NASDAQ: AFRM) and plant-based meat producer Beyond Meat (NASDAQ: BYND) are two prime examples. Buy now, pay later (BNPL) made a lot of sense when interest rates were low. Particularly for merchants selling big-ticket items, Affirm could help close sales that may have otherwise not happened at all.
Last trading at $10.26, Beyond Meat's stock has slumped from highs of over $239 in the months following its July 2019 initial public offer, among Wall Street's hottest listings that year. Beyond Meat also said it has entered an equity distribution agreement with Goldman Sachs to sell up $200 million worth of its shares, or equivalent to about 30% of its market cap after Thursday's drop. Goldman Sachs analyst Adam Samuelson has a "sell" rating on Beyond Meat's stock, according to Refinitiv.
Shares of plant-based meat company Beyond Meat (NASDAQ: BYND) got hammered on Thursday after the company reported financial results and announced a stock offering. The company had a negative gross profit margin in 2022 but its gross margin jumped to 6.7% in Q1. Beyond Meat's management maintained its full-year revenue guidance of $375 million to $415 million, implying a 1% to 10% year-over-year drop.
The Yahoo Finance Live team analyzes the decline of Beyond Meat stock, what the company may need to spark growth, and consumer trends amid an economic slowdown.
Investing.com -- Stocks were wobbling after disappointing streaming subscriber numbers at Walt Disney and amid renewed weakness in bank stocks. Here are the market movers for May 11.
Investing.com -- Stocks in focus in premarket trade on Thursday, May 11th. Please refresh for updates.
Joining me on today's call are Ethan Brown, founder, president, and chief executive officer; and Lubi Kutua, chief financial officer and treasurer. Please also note that on today's call, management may reference adjusted EBITDA, which is a non-GAAP financial measure.
Investing.com -- Beyond Meat (NASDAQ:BYND) reported better-than-expected quarterly results as cost cuts helped boost margins. Shares initially gained 8% before rotating lower.
Beyond Meat (BYND) delivered earnings and revenue surprises of 8.91% and 0.18%, respectively, for the quarter ended March 2023. Do the numbers hold clues to what lies ahead for the stock?
Inter Parfums' (IPAR) sales increase year over year in first-quarter 2023. Management raises its top-and bottom-line view for 2023.
Coty (COTY) makes several strategic partnerships to enhance its brand portfolio. The company is benefiting from its focus on six strategic pillars.
Inter Parfums (IPAR) focuses on product launches to boost assortment strength. The company's strength in strategic partnerships is driving growth.
Hershey (HSY) will acquire two production facilities from Weaver Popcorn Manufacturing. The move will likely help the company sustain its robust growth in the SkinnyPop brand.
Here is how Beyond Meat (BYND) and Ollie's Bargain Outlet (OLLI) have performed compared to their sector so far this year.
Tyson Foods (TSN) is undertaking several operational and supply chain efficiency programs to place itself better in the long run.
Down 66% year to date, Beyond Meat's (NASDAQ: BYND) stock still can't regain its former glory. Once predicted to take the food world by storm, the synthetic meat producer looks more like a fad whose 15 minutes of fame are over.
Hershey (HSY) is undertaking buyouts to augment portfolio strength and boost revenues. The company regularly brings innovation to its core brands.
Kellogg (K) is bearing the brunt of escalated input cost inflation on global constraints and shortages. In addition, higher SG&A expenses are hurting its performance.
Campbell Soup's (CPB) snacks unit is backed by a proven growth model with strength in the power brands and higher innovation. Management is on track to deliver cost savings.
Hormel Foods (HRL) continues to operate in a volatile, complex and high-cost environment. The company's earnings have been under pressure by higher inefficiencies in the supply chain.
McCormick (MKC) has been benefiting from its Global Operating Effectiveness and Comprehensive Continuous Improvement programs amid cost and supply-chain hurdles.
Yahoo Finance Live discusses a drop in Beyond Meat stock after a survey reported that teenagers are less inclined to eat plant-based meat in 2023.
If Beyond Meat can't get a handle on its debt load, it may not matter how good its meat alternatives taste.
Here is how Beyond Meat (BYND) and Coca-Cola HBC (CCHGY) have performed compared to their sector so far this year.