Kellogg Board Approves Separation Into Two Independent, Publicly Traded Companies

RTTNews | 641 ngày trước
Kellogg Board Approves Separation Into Two Independent, Publicly Traded Companies

(RTTNews) - Kellogg Co. (K) announced Monday that its Board of Directors formally approved the previously announced separation into two independent, publicly traded companies, Kellanova and WK Kellogg Co.

Upon completion of the separation on October 2, 2023, Kellogg will be renamed Kellanova, and will continue to trade on the New York Stock Exchange (NYSE) under the ticker symbol "K", while WK Kellogg Co is expected to begin trading on the NYSE under the ticker symbol "KLG".

At 12:01am EDT on October 2, 2023, Kellogg shareowners of record as of September 21, 2023, will receive 1 share of WK Kellogg Co (KLG) for every 4 shares of Kellogg Company (K) owned.

Kellanova will feature a growth-oriented portfolio that is weighted toward snacks and emerging markets, while WK Kellogg Co. will carry iconic brands and have a leading share position in North American cereal.

Kellanova is projected to generate net sales of approximately $13.4 billion to $13.6 billion and expects to deliver long-term annual growth rates of 3 to 5 percent for net sales on organic basis. Meanwhile, WK Kellogg Co projects net sales of approximately $2.7 billion.

read more
U.S. Consumer Sentiment Improves Much More Than Expected In June

U.S. Consumer Sentiment Improves Much More Than Expected In June

Preliminary data released by the University of Michigan on Friday showed a substantial improvement by consumer sentiment in the U.S. in the month of June. The University of Michigan said its consumer sentiment index surged to 60.5 in June after holding at 52.2 in May. Economists had expected the index to rise to 53.5.
RTTNews | 2h 57phút trước
CPSC Recalls: 1.2 Mln Anker Power Banks, Hedge Trimmers, High Chairs, Mattresses, Pool Covers

CPSC Recalls: 1.2 Mln Anker Power Banks, Hedge Trimmers, High Chairs, Mattresses, Pool Covers

The U.S. Consumer Product safety Commission or CPSC has announced various recalls including around 1.2 million Anker Power Banks, as well as hedge trimmers, high chairs, mattresses, pool covers and Skywalker Pro Via Ferrata Sets. China- based Anker Innovations Limited has called back about 1.16 million units of power banks citing fire and burn risks, and TTI Outdoor Power Equipment recalled...
RTTNews | 3h 19phút trước
FTSE 100 Falls Amidst Israel-Iran Conflict

FTSE 100 Falls Amidst Israel-Iran Conflict

Renewed geopolitical tensions from the Israel-Iran conflict weighed on sentiment for the FTSE 100 benchmark as it shed more than a quarter percent in Friday's trade.
RTTNews | 5h 10phút trước
Eurozone Trade Surplus Declines To 3-Month Low

Eurozone Trade Surplus Declines To 3-Month Low

Eurozone trade surplus declined to a three month low in April as demand from the US softened following tariff hikes, official data revealed on Friday. The trade surplus declined to EUR 9.9 billion in April from EUR 37.3 billion in March, Eurostat reported. This was the lowest surplus since January. In the same period last year, the surplus totalled EUR 13.6 billion.
RTTNews | 5h 25phút trước
Geopolitical Tensions Drag Down CAC 40

Geopolitical Tensions Drag Down CAC 40

An escalation in geopolitical tensions in the Middle East triggered by the Israel-Iran conflict weighed on market sentiment dragging down the CAC 40. Concerns about the trade dispute between the U.S. also weighed on sentiment.
RTTNews | 6h 6phút trước
Adobe Lifts FY25 Outlook After Higher Q2; But Stock Down

Adobe Lifts FY25 Outlook After Higher Q2; But Stock Down

Software major Adobe Inc. issued third-quarter outlook and raised its fiscal 2025 earnings and revenue targets after reporting higher second-quarter profit, above market estimates, amid strong growth in the adoption of AI-powered and creative solutions. Meanwhile, the shares were down nearly 2 in the extended trading on Thursday, and are currently losing in the pre-market activity on the NYSE.
RTTNews | 6h 43phút trước
Sensex, Nifty Follow Global Peers Lower Amid Middle East Tensions

Sensex, Nifty Follow Global Peers Lower Amid Middle East Tensions

Indian shares fell sharply on Friday, tracking weak cues from global markets after Israel launched strikes against Iran, targeting nuclear facilities and ballistic missile factories as part of efforts "to damage Iran's nuclear infrastructure, its ballistic missile factories and military capabilities."
RTTNews | 6h 57phút trước