Latest news with #MicheleBuck
Yahoo
15 hours ago
- Business
- Yahoo
Jim Cramer Highlights Hershey's Troubles
The Hershey Company (NYSE:HSY) is one of the stocks on Jim Cramer's radar. During the episode, Cramer discussed the company's management changes. He commented: 'If you really want overlooked, there's the other side of the story, Hershey, down big yesterday and today. I get it. They're losing the steady hand of CEO of Michele Buck and getting Tanner, who only spent about a year and a half at Wendy's, where he departed. Even though Tanner originally had a consumer packaged goods background, he'd been in PepsiCo for 32 years before Wendy's, it always raises eyebrows when a CEO flees a struggling company to work somewhere else in a hurry. A close-up of hands deftly moulding a bar of chocolate. Hershey (NYSE:HSY) manufactures and sells a wide range of confectionery, snack, and pantry products under brands like Hershey's, Reese's, Kit Kat, SkinnyPop, and Dot's Pretzels. While we acknowledge the potential of HSY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
CNBC
a day ago
- Business
- CNBC
Beware owning these stocks during earnings season, says Goldman Sachs
As earnings season kicks off in earnest, Goldman Sachs warns that investors should stay away from certain names. This week is a big one for second-quarter earnings, with 35 stocks in the S & P 500 — or around 7% of the index — on the docket to report their latest results. The big banks — including JPMorgan , Citigroup , Wells Fargo , BlackRock , Bank of America , Goldman Sachs and Morgan Stanley — are on the schedule. This week's headliners also include Johnson & Johnson , United Airlines , PepsiCo , Netflix and 3M . Earnings season will further ramp up next week. As the reporting season begins, Goldman Sachs says buyers should beware against owning certain names. In a recent note, the bank published "a list of sell-rated names with at least 5% downside to price target with risk of an earnings miss (GS 2025E estimates are at least 2% below consensus)." The list included the following names: Candy maker Hershey was one name on the list. Shares have slipped 3% this year, but Goldman Sachs' price target implies there is an additional downside of 10% ahead. Shares of Hershey slipped earlier this month after the company announced Wendy's CEO Kirk Tanner will succeed Michele Buck as CEO. Buck is retiring after nearly 20 years at Hershey, with eight spent at the helm. "Kirk is a proven, high-impact leader in the food and beverage industry with a great combination of customer and consumer passion, commercial acumen and operational scale," said Mary Kay Haben, director and chair of Hershey's CEO search committee, in a press release accompanying the announcement. "His deep experience in snacks, beverages, M & A and innovation — combined with public company CEO and board roles — makes him well suited to lead Hershey into the future." Tanner will take the reins effective Aug. 18. Victoria's Secret is another name Goldman Sachs has a bearish view on. The bank foresees the lingerie retailer falling an additional 14%. Shares of Victoria's Secret have already sunk 54% in 2025. In late April, Wells Fargo downgraded the name to an underweight rating from equal weight. "While VSCO has recently seen an improvement in trends following the hiring of a new management team and the implementation of product and marketing improvements, we are sidelined on the name given 1) non-essential undergarments are a historically more recession-sensitive space, and we anticipate a larger headwind to revenues vs. our retail universe, and 2) the brand has not proven an ability to sustain/hold pricing (which will be critical in the near future)," Wells Fargo analyst Ike Boruchow wrote. Boruchow's updated price target of $12, down from $25, corresponds to a downside of 37% from the stock's Monday close. Goldman Sachs also has a pessimistic view on eBay . The e-commerce company has popped 25% this year, but the bank believes it could stumble 29% over the next 12 months. Also in late April, Bernstein downgraded the name to a market perform rating from outperform. Analyst Nikhil Devnani lowered his price target by $5 to $65. That implies about 16% downside from Monday's closing price. "China-sourced inventory has been a core area of growth (e.g., Motor P & A), and the channel could see disruption until tariff policies get finalized. Offsets would be alternative sellers and secondhand [gross merchandise volume] that may accelerate, but EBAY's category mix broadly skews discretionary," he wrote in a note to clients. "Too many moving parts, which makes us less comfortable with an active call." Other names on the list included Lazard , Super Micro Computer and American Airlines .
Yahoo
2 days ago
- Business
- Yahoo
Jim Cramer Highlights Hershey's Troubles
The Hershey Company (NYSE:HSY) is one of the stocks on Jim Cramer's radar. During the episode, Cramer discussed the company's management changes. He commented: 'If you really want overlooked, there's the other side of the story, Hershey, down big yesterday and today. I get it. They're losing the steady hand of CEO of Michele Buck and getting Tanner, who only spent about a year and a half at Wendy's, where he departed. Even though Tanner originally had a consumer packaged goods background, he'd been in PepsiCo for 32 years before Wendy's, it always raises eyebrows when a CEO flees a struggling company to work somewhere else in a hurry. A close-up of hands deftly moulding a bar of chocolate. Hershey (NYSE:HSY) manufactures and sells a wide range of confectionery, snack, and pantry products under brands like Hershey's, Reese's, Kit Kat, SkinnyPop, and Dot's Pretzels. While we acknowledge the potential of HSY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
7 days ago
- Business
- Yahoo
PepsiCo and Wendy's exec Kirk Tanner to become Hershey's next CEO
Longtime food and beverage exec Kirk Tanner was appointed as the Hershey Co.'s new CEO early on Tuesday. Toronto's strategic emergence as a capital of esports A simple shape turned the Coca-Cola logo into a timeless icon USPS just designed a perfect postage stamp Tanner will be replacing former Hershey's CEO Michele Buck after she announced her retirement early this year, and he will be leaving his current position as Wendy's CEO to begin his new role with the chocolate company on August 18, 2025. His business portfolio includes the likes of PepsiCo, where he worked for 31 years and climbed the corporate ladder from sales associate to the tip-top as the soda giant's chief executive officer. During his time with the PepsiCo, it saw steady, slow-rising annual revenue. His five-year stint as chief executive also had its fair share of brand expansion, such as the acquisition of Rockstar Energy and Siete Foods and investing in environmental efforts like regenerative potato farming. There were also controversies, like the brand's significant effect on pollution and questionable health-washing. After leaving PepsiCo, Tanner spent a little over a year as Wendy's CEO before he decided to amicably part ways with the company. His short time with the signature red-pigtail-logoed fast-food company was marked by a focus on 'innovation' through the expansion of menu options, including limited-time Frosty flavors, and opening new restaurants, including the 74 new Wendy's that opened during the first quarter of 2025. However, his leave also comes just as investors speculate the company's stock will fall as much as 6% by the end of August, as it has seen steady decreases in shares over the last year. 'It has been a privilege to lead Wendy's, an iconic brand, and I leave with a sense of gratitude for our employees and franchisees who make the company a truly special place,' Tanner said in a statement. 'The brand is of the highest quality in the quick service restaurant industry, and I believe there is tremendous growth potential ahead for all Wendy's stakeholders.' Tanner's return to the 'packaged goods' industry comes as Hershey looks to continue its expansion of non-chocolate snack foods, especially with the potential rising costs of imported cocoa beans due to Trump-administration tariffs. 'Kirk is a proven, high-impact leader in the food and beverage industry with a great combination of customer and consumer passion, commercial acumen, and operational scale,' Mary Kay Haben, Hershey's lead independent director and chair of the CEO search committee said. 'With a track record of driving growth in complex global businesses, Kirk brings a focused, results-driven mindset. His deep experience in snacks, beverages, M&A [mergers and acquisitions] and innovation—combined with public company CEO and board roles—makes him well suited to lead Hershey into the future.' Following Tanner's leave, Wendy's current CFO Ken Cook will step in as interim CEO on July 18. As of this afternoon, Wendy's shares were slightly down by 0.5% (Nasdaq: WEN), while Hershey's shares were down by around 3% (Nasdaq: HSY) This post originally appeared at to get the Fast Company newsletter: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-07-2025
- Business
- Yahoo
Hershey names Wendy's chief as next CEO
This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. Hershey on Tuesday named Wendy's chief executive Kirk Tanner as its next CEO effective Aug. 18, according to a company statement. The announcement brings Tanner back to the CPG industry, where he spent more than three decades at PepsiCo. Among other senior roles, he served as CEO of PepsiCo Beverages North America, overseeing the growth of Pepsi, Gatorade and Mountain Dew. Tanner replaces Michele Buck, who in January announced her intention to retire after eight years in Hershey's top role. Buck will work closely with Tanner in a senior advisory capacity during the transition. As CEO, Tanner will be responsible for building on Buck's efforts to transform Hershey into a snacking powerhouse and diversify beyond sweets. Buck oversaw the company's aggressive move into gummies and salty snacks and led some of the largest acquisitions in Hershey's history, including a $1.6 billion purchase of SkinnyPop owner Amplify. 'Michele architected and championed Hershey's Leading Snacking Powerhouse vision, guiding the company through multiple phases of transformational growth,' said Mary Kay Haben, lead independent director and chair of Hershey's CEO Search Committee. 'The impact of her courageous leadership, evolution of portfolio and capabilities, and authentic connection to people leave a legacy and a roadmap that positions Hershey well for the future.' Still, Tanner joins at a precarious time for the snacking industry, which has experienced broad declines as consumers tighten their wallets and look for healthier alternatives. Hershey reported close to a 14% sales drop in the first quarter. The candy giant also has struggled with higher cocoa costs amid fast-changing tariffs. The company expects tariffs to cost between $15 million and $20 million during the second quarter and asked the White House for an exemption for duties on cocoa. At PepsiCo, Tanner led a transformation of the company's $28 billion beverage business, scaling brands, including Pure Leaf and bubly, and overseeing new innovation to address evolving consumer trends. In addition to leading PepsiCo's North American beverages business, Tanner also held several other senior leadership positions, including president of PepsiCo Global Foodservice and senior vice president of Frito-Lay North America's West Division. 'Kirk is a proven, high-impact leader in the food and beverage industry with a great combination of customer and consumer passion, commercial acumen and operational scale,' Haben said. 'His deep experience in snacks, beverages, M&A and innovation—combined with public company CEO and board roles—makes him well suited to lead Hershey into the future.' Recommended Reading How Hershey CEO Michele Buck came to create a 'snacking powerhouse'
