Stock Movers: JM Smucker, McDonalds, Novo Nordisk
On this episode of Stock Movers: - JM Smucker (SJM) shares fall after the company said it expects adjusted earnings of up to $9.50 a share, reduced by $1 a share due to higher coffee costs and US tariffs. The company raised coffee prices in May and plans to do so again in August, which is expected to hurt demand this year. -McDonalds (MCD) shares drop after Redburn Atlantic downgraded the company to a sell rating, citing concerns over shifting consumer patterns due to weight-loss drugs and inflation. The analyst estimates that the use of GLP-1 drugs like Ozempic could impact McDonald's revenue by $428 million annually, and potentially up to 10% or more over time. -Novo Nordisk (NOVOB) shares rise after a report that Parvus Asset Management has built a stake in the company. Parvus is interested in influencing the appointment of a new CEO, as Novo Nordisk is set to replace its current CEO Lars Fruergaard Jorgensen.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBS News
16 minutes ago
- CBS News
Egg prices for consumers fell to 5-month low in May. Here's why.
Consumers are finally getting a break when it comes to egg prices. Egg prices dropped to $4.55 in May, down 11% from $5.12 in April, according to data from the Bureau of Labor Statistics. The price drop for a dozen Grade A large eggs comes as the effects of a years-long, widespread avian flu outbreak recede and demand for eggs softens slightly, as it usually does this time of year. "There are two main drivers behind the drop in prices — abatement in the conversation about bird flu, and some seasonality in uses of eggs. Typically as we move into summer, demand for eggs soften, as people shift to consuming more meat and grilling outdoors," Brett House, an economics professor at Columbia Business School, told CBS MoneyWatch. "People aren't making heavy breakfasts, so we don't see demand for eggs being as strong as it typically is during the winter months." While egg prices have declined for two consecutive months, down from $6.23 a dozen in March, they remain elevated compared with 12 months ago. In May 2024, a dozen eggs cost $2.70. David Ortega, a food economics professor at Michigan State University, told CBS MoneyWatch that avian flu containment has been responsible for most of the decrease in the average price of eggs. "This is primarily due to a reduction in the number of commercial facilities that have been impacted by the bird flu," he said. "A lot of bird flu activity in the beginning of the year led to a significant surge in egg prices, but those impacts have really lessened over the past couple of months." Wholesale egg prices began to decrease in March, according to Ortega, and the price drops are now starting to show up at the retail level. "There's a bit of a lag before they reach consumers at the grocery store," he said. The bird flu outbreak, which began in the spring of 2022, is not yet entirely contained and continues to impact the industry, he cautioned. "It's still very much an issue," Ortega said. A May outbreak at an Arizona layer farm affected nearly 1.4 million birds, according to data from the U.S. Department of Agriculture. Consumer Price Index data shows that while overall food costs rose slightly in May, egg prices dropped. "But egg prices are still substantially higher than they were 12 months ago, even after two months of decreases," House said.
Forbes
17 minutes ago
- Forbes
Experts Say Retail Inflation Fears Have Moderated. Don't Believe It.
The inflation from tariffs takes time to arrive. getty The Wall Street Journal reports that the 2.4% (annualized) inflation in retail consumer prices in May was lower than expected and defies 'fears that the impact of President Trump's tariffs would start to show a rise in prices.' The New York Times says inflation is 'muted, with limited effects from tariffs.' Don't listen. There's a lot of reasons why the information for May is not indicative of what will happen the rest of the year. Here's why: When manufacturers abroad increase prices, it takes time to go through the system. Goods ordered today typically don't get delivered for another 90-180 days. That's the primary reason why inflation for May is moderate. The products being bought today were ordered and delivered before higher tariffs ever happened. But there are other reasons. Brands and wholesalers usually do everything they can to avoid price increases. As long as they're still selling older inventory that came in at lower tariff rates, they are going to hold off on increasing prices. The CEOs I talk to in the supply chain are trying to hold the line. They are sharing the cost of the tariffs among manufactuers, wholesalers and retailers so that they don't have to raise prices. That can work for a little while but it's not going to work for very long. There's also another short-term factor that's holding prices low. Wholesalers, brands and retailers are bringing out their slow-moving inventory. Because it can be sold at the old pre-tariff price, it's more attractive now than ever. Those less fashionable, slow-selling products are increasing the supply which is holding prices down. It's another short-term fix and it won't last for long. Because of timing, the inflation from tariff increases will show up at your local retailer in the third and fourth quarter. You will start to see it in the back-to-school season. It won't be in school basics that are ordered from manufacturers well in advance, like pencils and uniforms. You'll see it in discretionary items that are ordered closer to delivery dates, like licensed products or the latest toys. The fourth quarter is where the real impact will come. That's when almost no products on store shelves will have pre-tariff prices and increases will be unavoidable. While tariffs are the main driver of price increases, they aren't the only driver. The uncertainty around tariffs has made retailers very conservative. They are holding back on commitments to large orders of discretionary items. The things you want most won't be available to late shoppers or they may be more expensive. That conservative approach means less excess inventory this year, fewer sale items and fewer day-after items available. That will put upward pricing pressure on retailers and facilitate price increases. Coupled with the increased costs from tariffs, prices can only go in one direction and that's up. When you look at how consumers are acting, you can see it. Discretionary item sales in many categories were up a lot in April, as was foot traffic in stores. Consumers are advancing their purchases to beat the increases. Inflation is a self-accelerating phenomenon. The expectation of inflation causes workers to ask for more wages and their employers have to raise prices and the cycle keeps on going. Breaking the cycle is the challenge. Any basic cost increase including tariffs will push the inflationary cycle. It's on its way here and you will see it in good time.
Yahoo
24 minutes ago
- Yahoo
Allarity Therapeutics Announces Changes to Board of Directors
TARPON SPRINGS, Fla., June 11, 2025 -- Allarity Therapeutics, Inc. ('Allarity' or the 'Company') (NASDAQ: ALLR), a Phase 2 clinical-stage pharmaceutical company dedicated to developing stenoparib—a differentiated, dual PARP and WNT pathway inhibitor—as a personalized cancer treatment using its proprietary, drug-specific Drug Response Predictor (DRP®) patient selection technology—today announced that Jesper Høiland has been appointed to join the Company's Board of Directors. He will be replacing Joseph Vazzano, who will resign from the Board effective on June 30, 2025, following his valuable contributions to Allarity's development over the past two years. Mr. Høiland is already well-acquainted with Allarity's mission and operations, having served as a strategic consultant to the Company since October 2024. Jesper Høiland is a highly respected industry leader with more than 30 years of experience in global pharmaceutical commercialization and executive leadership. He previously served as President and EVP of Novo Nordisk's U.S. operations, where he led major product launches, pricing strategies, and infrastructure expansion. In addition, he held senior executive roles as President and CEO of Radius Health and as Global Commercial Officer at Ascendis Pharma. Mr. Høiland currently serves as Chairman of SciBase Holding AB and is a board member of ALK-Abello A/S and Flen Health SA. 'We are pleased to welcome Jesper Høiland to the Allarity Board during a period of growing clinical momentum,' said Jerry McLaughlin, Chairman of the Board of Directors at Allarity Therapeutics. 'On behalf of the entire Board, I would also like to thank Joseph Vazzano for his contributions to Allarity. His financial expertise and thoughtful guidance helped strengthen our governance and operational focus during a critical time. We are grateful for his service and wish him the very best in his ongoing endeavors.' Thomas Jensen, CEO of Allarity Therapeutics, added: 'Since Jesper started working with us in his consultancy capacity, I have several times benefited from his experience and strategic advice. His deep understanding of how to prepare for the commercialization phase of an investigational drug, his extensive global network—built over decades at Novo Nordisk—and his proven leadership during periods of strategic transition at Radius Health will certainly be valuable to Allarity. It is very positive that he will now be even more closely engaged with the Company, as we prepare for the next phases of clinical development and potential later commercialization of stenoparib.' About StenoparibStenoparib is an orally available, small-molecule dual-targeted inhibitor of PARP1/2 and tankyrase 1/2. At present, tankyrases are attracting significant attention as emerging therapeutic targets for cancer, principally due to their role in regulating the WNT signaling pathway. Aberrant WNT/β-catenin signaling has been implicated in the development and progression of numerous cancers. By inhibiting PARP and blocking WNT pathway activation, stenoparib's unique therapeutic action shows potential as a promising therapeutic for many cancer types, including ovarian cancer. Allarity has secured exclusive global rights for the development and commercialization of stenoparib, which was originally developed by Eisai Co. Ltd. and was formerly known under the names E7449 and the Drug Response Predictor – DRP® Companion DiagnosticAllarity uses its drug-specific DRP® to select those patients who, by the gene expression signature of their cancer, may have a high likelihood of benefiting from a specific drug. By screening patients before treatment, and only treating those patients with a sufficiently high, drug-specific DRP score, the therapeutic benefit rate may be enhanced. The DRP method builds on the comparison of sensitive vs. resistant human cancer cell lines, including transcriptomic information from cell lines, combined with clinical tumor biology filters and prior clinical trial outcomes. DRP is based on messenger RNA expression profiles from patient biopsies. The DRP® platform has shown an ability to provide a statistically significant prediction of the clinical outcome from drug treatment in cancer patients across dozens of clinical studies (both retrospective and prospective). The DRP platform, which may be useful in all cancer types and is patented for dozens of anti-cancer drugs, has been extensively published in the peer-reviewed Allarity TherapeuticsAllarity Therapeutics, Inc. (NASDAQ: ALLR) is a clinical-stage biopharmaceutical company dedicated to developing personalized cancer treatments. The Company is focused on development of stenoparib, a novel PARP/tankyrase inhibitor for advanced ovarian cancer patients, using its DRP® technology to develop a companion diagnostic that can be used to select those patients expected to derive the greatest clinical benefit from stenoparib. Allarity is headquartered in the U.S., with a research facility in Denmark, and is committed to addressing significant unmet medical needs in cancer treatment. For more information, visit Follow Allarity on Social MediaLinkedIn: Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide the Company's current expectations or forecasts of future events. The words 'anticipates,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intends,' 'may,' 'might,' 'plan,' 'possible,' 'potential,' 'predicts,' 'project,' 'should,' 'would' and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding the anticipated contributions of Jesper Høiland to Allarity's strategic direction; expectations about the Company's clinical and commercial development of stenoparib; the Company's ability to benefit from enhanced leadership and governance; and the potential future impact of board changes on corporate strategy and stakeholder value. Any forward-looking statements in this press release are based on management's current expectations of future events and are subject to multiple risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to risks related to changes in leadership not yielding expected outcomes; uncertainties around clinical development timelines; risks that clinical data may not support regulatory approval or commercial viability; and the general risks associated with operating a clinical-stage biopharmaceutical company. For a discussion of other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section entitled 'Risk Factors' in our Form 10-K annual report filed with the Securities and Exchange Commission (the 'SEC') on March 31, 2025, available at the SEC's website at and as well as discussions of potential risks, uncertainties and other important factors in the Company's subsequent filings with the SEC. All information in this press release is as of the date of the release, and the Company undertakes no duty to update this information unless required by law. ### Company Contact: investorrelations@ Media Contact: Thomas Pedersen Carrotize PR & Communications +45 6062 9390 tsp@ Attachment Allarity Therapeutics Press Release - Announces Changes to Board of DirectorsError 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
