IS WRITER KIN TO FOX INPUT FELLOW ?????
And here is why>>>>
Food and Restaurant Industry Split About Donald Trump Presidency
Source: Dow Jones News
By Julie Jargon and Annie Gasparro
Food is food, but investors in companies that serve it at restaurants are viewing the election of Donald Trump differently than those who invest in businesses that package and sell it to supermarkets.
The restaurant industry's lobbying group said it expects President-elect Trump to lift regulations it says have stifled growth and to spur spending.
"I think Trump's win will be great for the economy. I think we'll see real GDP [gross domestic product] growth and that will be great for the restaurant and retail industry," said Andy Puzder, chief executive of CKE Restaurants Inc., the privately held parent company of Carl's Jr. and Hardee's, in an interview.
Several restaurant chains, including The Cheesecake Factory, Bravo Brio Restaurant Group Inc. and Olive Garden parent Darden Restaurants Inc., had sizable share gains in midday trading Wednesday.
But shares in global packaged food and beverage companies including Mondelez International Inc., Kellogg Co. and PepsiCo Inc. fell as analysts warned of implications on global trade.
Analysts say Mr. Trump could impose trade restrictions with countries such as Mexico and China, given comments he made opposing the North American Free Trade Agreement and the Trans-Pacific Partnership.
"Potential duties on imports from Mexico could affect several companies, " notes Susquehanna analyst Pablo Zuanic. "Over the years a number of companies built plants in Mexico to supply their U.S. needs," including Mondelez and Hershey Co.
Mondelez, the maker of Oreo cookies, was specifically criticized by Mr. Trump for building a $130 million factory in Mexico that allowed it to close a Chicago plant and eliminate 600 U.S. jobs. The Illinois-based company argues it has also invested $450 million in upgrading U.S. factories since 2012.
All food makers will likely welcome any looser regulations after years of grappling with rules on everything from what they should tell consumers about where meat is sourced to labeling food made with genetically modified organisms, or GMOs.
Mr. Trump has supported the biotechnology industry, and farmers and experts say he is unlikely to impose further rules governing the use or labeling of GMOs -- a benefit to food makers who feel such labels vilify science that helps lower the cost of food. The Grocery Manufacturers Association said in a statement it is hoping for the Trump administration to support "science-based law, regulations and policies," around food.
Meanwhile, restaurants are likely cheering the possibility Mr. Trump won't increase the federal minimum wage, analysts say, even if they still face state and local minimum wage increases.
The National Restaurant Association, in a report it posted after the presidential race was called, said: "We may see relief in some of the burdensome requirements imposed on businesses and employees alike in the health care space, as well as in labor regulations (looking at you, Overtime Rule)," referring to a pending Labor Department rule that would raise the salary threshold for workers eligible to receive overtime pay.
Write to Julie Jargon at julie.jargon@wsj.com and Annie Gasparro at annie.gasparro@wsj.com
Recent KO News
- The Coca-Cola Company Announces Election of Corporate Officers and Declares Regular Quarterly Dividend • Business Wire • 05/02/2024 05:00:00 PM
- Futures Pointing To Roughly Flat Open On Wall Street • IH Market News • 04/30/2024 01:07:52 PM
- U.S. Index Futures Point to Mild Decline Ahead of Key Earnings and Fed Rate Decision • IH Market News • 04/30/2024 11:59:59 AM
- Alphabet CEO’s Billion-Dollar Wealth, Microsoft’s $1.7B Indonesia Investment, and More News • IH Market News • 04/30/2024 11:58:40 AM
- HSBC’s High Profit & CEO Resignation, Santander’s 11% Profit Surge, and More in Earnings • IH Market News • 04/30/2024 11:55:21 AM
- Coca-Cola Reports First Quarter 2024 Results and Provides Updated Guidance • Business Wire • 04/30/2024 10:55:00 AM
- Fanta Says, 'Do More of What You Wanta' With New Global Campaign • PR Newswire (US) • 04/25/2024 12:33:00 PM
- Coca-Cola and Microsoft Sign Billion-Dollar Agreement, Apple Event Set for May 7, and More News • IH Market News • 04/24/2024 11:28:02 AM
- The Coca-Cola Company and Microsoft announce five-year strategic partnership to accelerate cloud and generative AI initiatives • PR Newswire (US) • 04/23/2024 01:30:00 PM
- Sprite Reimagines the Legendary Obey Your Thirst Campaign with Modern Icons Anthony Edwards and Sha'Carri Richardson • PR Newswire (US) • 04/18/2024 01:00:00 PM
- ザ・コカ・コーラ・カンパニー、パリオリンピック・パラリンピックを前にグローバルプログラムで「Everyday Greatness」を祝福 • Business Wire • 04/11/2024 03:55:00 PM
- The Coca-Cola Company célèbre la réussite au quotidien avec un programme mondial avant les Jeux olympiques et paralympiques de Paris • Business Wire • 04/10/2024 04:41:00 PM
- The Coca-Cola Company feiert mit einem globalen Programm im Vorfeld der Olympischen und Paralympischen Spiele in Paris großartige Leistungen im Alltag • Business Wire • 04/10/2024 04:25:00 PM
- The Coca-Cola Company Celebrates Everyday Greatness with Global Program in Advance of Olympic and Paralympic Games in Paris • Business Wire • 04/10/2024 10:00:00 AM
- The Coca-Cola Company Announces Timing of First Quarter 2024 Earnings Release • Business Wire • 03/28/2024 02:00:00 PM
- Form 25-NSE - Notification filed by national security exchange to report the removal from listing and registration of matured, redeemed or retired securities • Edgar (US Regulatory) • 03/08/2024 01:40:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 05:47:29 PM
- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 03/06/2024 05:44:49 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/04/2024 09:33:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 07:02:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 06:59:13 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 06:42:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 06:39:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 06:36:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 06:34:35 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM