How will Mondelez's earnings be affected by rising cocoa prices?

Mondelez International, the maker of Oreo Cookies and Ritz Crackers, has warned that skyrocketing cocoa prices will hurt its profits.

Home / Business and Economy / Cocoa Crunch: Mondelez Profits Plummet as Prices Soar

Cocoa Crunch: Mondelez Profits Plummet as Prices Soar

Q: What did Humana report in its latest earnings?

Humana, the health insurer, has boosted its guidance and reported better-than-expected results, as it sees a smaller decline in Medicare Advantage membership this year.

Q: How did Hershey perform in its recent quarter?

Hershey, the chocolate, candy, and snacks maker, beat profit and sales estimates, driven by high Easter and pre-Halloween demand for its treats.

30 Jul

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Summary

Mondelez says skyrocketing cocoa prices will hurt earnings
Humana boosts guidance, reports better-than-expected results
Hershey beats profit and sales estimates on high demand

Cocoa Crunch: Mondelez Profits Plummet as Prices Soar

In the latest business news, Mondelez International, the maker of Oreo Cookies and Ritz Crackers, has revealed that skyrocketing cocoa prices will negatively impact its earnings. This comes as U.S. equities were mixed at midday, with the S&P 500 and Nasdaq gaining, but the Dow Jones Industrial Average falling.

Elsewhere, the health insurer Humana has boosted its guidance and reported better-than-expected results, as it sees a smaller decline in Medicare Advantage membership this year. Meanwhile, the chocolate, candy, and snacks maker Hershey also beat profit and sales estimates, driven by high Easter and pre-Halloween demand for its treats.

In other news, VF Corp., the parent of brands like North Face, Vans, and Timberland, surprised analysts with flat revenue and a smaller loss, raising confidence in its turnaround plan. However, the freight delivery firm Old Dominion Freight Lines missed earnings and revenue forecasts, which it blamed on ongoing softness in the U.S. economy.

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