The plant-based food industry is facing a reset as Beyond Meat and Oatly shares suffer

In this photo illustration Oatly oat milk is shown on May 20, 2021 in Chicago, Illinois. Scott Olson | Getty Images Wall Street appears to be souring on plant-based substitutes. Shares of Beyond Meat and Oatly have shed more than half their value this year. The stocks are both high-profile and relative recent entrants to public markets, prone to big jumps and sharp declines in value, volatility that’s only been exacerbated by broader market swings and pressure from short sellers. Beyond Meat trades 87% below its all-time high, and Oatly,…

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Stocks making the biggest moves midday: American Airlines, Gap, Moderna and more

An American Airlines plane lands at Ronald Reagan Washington National Airport November 23, 2021 in Arlington, Virginia. Drew Angerer | Getty Images Check out the companies making headlines in midday trading Tuesday. American Airlines, Norwegian Cruise Line — Travel stocks retreated, as investors continued to weigh the risks from the Covid omicron variant. American Airlines shares retreated more than 4%, Norwegian Cruise Line lost more than 6%, Wynn Resorts fell roughly 5%, and Airbnb dipped 4.9%. Gap, Under Armour — Retail stock were under pressure after Cyber Monday online sales…

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Stocks making the biggest moves premarket: Regeneron, Moderna, Dollar Tree and more

Check out the companies making headlines in premarket trading. Regeneron Pharmaceuticals (REGN) — Regeneron shares fell more than 1% in the premarket after the company said its Covid-19 antibody cocktail and similar drugs could be less effective against the omicron Covid variant. The drugmaker said mutations in the variant suggest “there may be reduced neutralization activity of both vaccine-induced and monoclonal antibody conveyed immunity.” Moderna (MRNA), Pfizer (PFE) — Shares of vaccine makers were on watch after Moderna CEO Stephane Bancel told the Financial Times he expects existing vaccines to be…

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Stocks making the biggest moves midday: Nvidia, Kohl’s, Macy’s and more

Shoppers carry Kohl’s bags in Chicago. Christopher Dilts | Bloomberg | Getty Images Here are the companies making the biggest moves in midday trading: Nvidia — The chip giant saw its shares soaring more than 9% after the company beat earnings and sales expectations for the third quarter. Nvidia reported adjusted earnings per share of $1.17 and revenue of $7.1 billion. Analysts expected $1.11 earnings per share and revenue of $6.82 billion, according to Refinitiv. Its market cap surpassed $800 billion during Thursday’s rally. Kohl’s — Shares of the retail chain rose…

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Chobani files to go public through initial public offering as its yogurt sales rise

Packages of Chobani yogurt sit on the shelf at a grocery store July 7, 2021 in Washington, DC. Drew Angerer | Getty Images Yogurt and oat milk maker Chobani on Wednesday filed to go public on the Nasdaq Exchange under the symbol “CHO,” becoming the latest food and beverage company to try to join the public markets. Chobani said its revenue grew 5.2% to $1.4 billion from 2019 to 2020. However, its net loss more than tripled during that time, reaching $58.7 million, as it invested back into its business.…

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Stocks making the biggest moves midday: Boeing, Dollar Tree, Tesla and more

Boeing 777, American Airlines. Massimo Insabato | Mondadori Portfolio | Getty Images Check out the companies making headlines in midday trading. Boeing — Shares of the jet maker jumped more than 5% after a company executive said Sunday it’s “getting close” to resuming deliveries of its 787 Dreamliner, after suspending them to deal with production issues. He did not specify timing, but said it depends on the results of ongoing talks with regulators. Tesla — The sell-off in Tesla shares continued Monday after declining more than 15% the week prior, marking the…

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Why fear of a bad reputation could be what really makes firms focus on climate change

Young protesters take part in the Fridays For Future rally in Glasgow, Scotland on November 5, 2021, during climate summit COP26. Daniel Leal-Olivas | AFP | Getty Images LONDON — Big businesses are beholden to shareholders financially, but there is currently no requirement to disclose climate-related achievements — or lack of them. Accountability has been a big topic at climate summit COP26, ongoing in Glasgow, Scotland. Per Heggenes, chief executive of the IKEA Foundation, told CNBC’s Steve Sedgwick last week that firms that don’t adopt climate targets “should be discriminated…

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Pricier shipping containers and port delays haven’t slowed Vita Coco’s growth, co-CEO says

Vita Coco hasn’t been able to fully stock grocery fridges with its coconut water for months, but co-founder and co-CEO Mike Kirban said that hasn’t stopped the beverage company from gaining new customers. “We haven’t been fully in stock for 18 to 24 months, but at the same time, we’ve grown our business substantially,” Kirban said in an interview. “Not only are we able to keep up, we’re able to accelerate growth even with empty shelves out there.” In the six months ended June 30, the company’s net sales climbed…

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Stocks making the biggest moves premarket: Tesla, Quidel, Chubb and more

Check out the companies making headlines before the bell: Tesla (TSLA) – Tesla announced it would move its corporate headquarters to Texas from California, with CEO Elon Musk noting the high cost of living and operating in California. Musk did say the company plans to increase output at its plants in California and Nevada. Allogene Therapeutics (ALLO) – The drug maker’s shares tumbled 38.4% in the premarket after the FDA placed a hold on the company’s cancer drug trials due to a chromosomal abnormality in a single patient. The hold…

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Minorities and women are finally getting a seat at the IPO underwriting table

Cynthia DiBartolo, CEO, Tigress Financial Partners, at the New York Stock Exchange. Source: NYSE Robinhood’s highly anticipated IPO last month was led by Wall Street heavy hitters Goldman Sachs and JPMorgan Chase. But the extensive list of underwriters also included boutique minority-owned firms Ramirez & Co. and Siebert Williams Shank. Of the 17 firms that helped underwrite the offering, four were owned by minorities, women or military veterans, a category known as MWVBEs. It’s becoming a trend: 13 of the 25 biggest IPOs of U.S. tech companies in the past…

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