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Smucker

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Judge Rejects Settlement Bid, Keeps Smucker vs. Trader Joe's Frozen PB&J Suit Alive
business1 month ago

Judge Rejects Settlement Bid, Keeps Smucker vs. Trader Joe's Frozen PB&J Suit Alive

A US federal judge has allowed Smucker’s lawsuit against Trader Joe’s to proceed, rejecting a request to pause the case for settlement talks. The dispute centers on Mondelez’s frozen peanut butter and jelly sandwich, which Smucker claims infringes on its trademark. Although Mondelez and Aldi (Trader Joe’s parent) indicated in July that they were discussing a resolution, the court determined the litigation should continue. This decision keeps the intellectual property battle active, potentially delaying any immediate resolution between the two food giants.

via AP News|
#aldi#business#federal-court
business4 months ago

Nuvalent soars on GSK deal as Smucker beats, SailPoint slides; chips rebound in premarket

Premarket movers include Nuvalent jumping about 39% after GSK agreed to acquire it for $10.6 billion; J.M. Smucker rose about 3.5% after Q4 results beat estimates; SailPoint fell more than 12% on weaker full-year guidance despite earnings beating expectations; Alibaba edged up roughly 0.9% as the Pentagon added Chinese firms to a military list; Vail Resorts dropped about 4.9% after soft Q3 results, while Micron and Qualcomm helped drive a chip stock rebound in premarket trading.

via CNBC|
#alibaba#business#gsk
Smucker's Acquires Hostess Brands in $5.6B Deal
business3 years ago

Smucker's Acquires Hostess Brands in $5.6B Deal

J.M. Smucker, the maker of jellies, Jif peanut butter, and Uncrustables, has agreed to acquire Hostess Brands, the maker of Twinkies, Ho Hos, and Ding Dongs, in a $5.6 billion deal. The takeover will add iconic sweet snacks to Smucker's portfolio, which already includes coffee and pet food brands. Analysts have raised questions about how the brands will blend, given Smucker's lack of shelf-stable snacks, but Smucker expects to cut $100 million in costs within two years. Hostess Brands, which has experienced bankruptcy in the past, has been able to increase sales and profits by raising prices in response to supply chain disruptions and higher energy prices.

via The New York Times|
#acquisition#business#food-industry
Cramer advises caution in pet industry post-Covid spending hangover.
business3 years ago

Cramer advises caution in pet industry post-Covid spending hangover.

The post-Covid spending hangover has made people more selective with their spending, and the pet industry is no exception. While the "humanization of pets" trend is still in play, not all pet companies stand to benefit. Pure pet plays like Petco and Chewy have become controversial stocks, but General Mills and Smucker are good options for those who want to invest in the pet theme without taking on too much risk.

via CNBC|
#business#consumer-spending#covid-19