Streetbeat News

NSRGF

Nestle SA

https://www.nestle.com/

CEO

Ulf Schneider

Industry

Dry, Condensed, and Evaporated Dairy Product Manufacturing

Open

85.17

Mkt cap

216B

Volume

812

High

85.17

P/E Ratio

17.36

52-wk high

117.52

Low

83.63

Div yield

0.04

52-wk low

83.63

Several companies have made headlines today. Nvidia is expected to generate up to $300 billion in AI revenues by 2027, according to Mizuho analyst Vijay Rakesh. Over 1,500 UK-based developers have filed a class action lawsuit against Apple over 'anti-competitive' App Store fees. Microsoft has invested $2 billion in a Saudi cloud facility, raising data privacy concerns. TikTok has launched a text-based post feature to compete with Twitter. Adidas expects a smaller operating loss in 2023 after parting ways with Kanye West's Yeezy Collection. H&M has sued Shein for copyright infringement. TSMC plans to invest $2.9 billion in an advanced chip packaging plant in Taiwan. FedEx pilots have rejected a contract deal, prompting renewed negotiations. Nestle and Danone are under France's inflation scanner due to price rises. American Airlines faces a voting delay for a pilot contract offer. Unilever, General Electric, General Motors, Xerox, Spotify, Biogen, Verizon, Danaher, and Dover have all reported their Q2 earnings.

Portfolio Pulse from Vandana Singh

July 25, 2023 | 2:26 pm

Product prices of Nestle S.A. and Danone have risen by more than 10% this year in France, putting them under the country's inflation scanner. The price hike has pressured the companies to renegotiate with French retailers. French shoppers have spent more than 20% more for Nestle products each month since January versus last year, with price increases peaking at 36.6% in May. Danone's products were sold for between 11.2% and 16.7% more than last year in the first six months of the year.

Portfolio Pulse from Nabaparna Bhattacharya

July 25, 2023 | 1:34 pm

The Federal Trade Commission (FTC) is investigating potential collusion among baby-formula manufacturers, including Abbott Laboratories, Nestlé, and Reckitt Benckiser Group, in bidding for state contracts. The FTC is also examining the broader impact of this coordination on sales outside the Women, Infants, and Children (WIC) formula-supply program.

Portfolio Pulse from Vandana Singh

May 24, 2023 | 12:41 pm

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