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Fast Company
a few seconds ago
- Fast Company
Fly by Jing is launching chili crisp ketchup
Fly by Jing, the beloved CPG brand that's helped make high-quality chili crisp a staple in many American households, announced today that it's fusing its iconic sauce with an unexpected condiment: ketchup. The new product, called Chili Crisp Ketchup, launches today in a limited run online, retailing for $15 a bottle. It was made in collaboration with Frankie Gaw, a creator and author known for remixing Asian cuisine with classic American products. According to a press release, Chili Crisp Ketchup combines Fly by Jing's bestselling Original Sichuan Chili Crisp with a ketchup base 'to create a spicy, savory, and smooth blend that's at once novel and nostalgic.' For Fly by Jing founder Jing Gao, the brand's move to fuse its core product with a classically American condiment is an evolution of its overarching goal to help Western consumers 'experiment more wildly' with traditionally Chinese flavors and integrate them into their existing routine. But the Chili Crisp Ketchup also serves a secondary purpose: helping Fly by Jing diversify its supply chain in the wake of President Trump's sweeping tariffs on Chinese imports. Fly by Jing spices up ketchup Gao's concept for Fly by Jing first took shape in 2018, when she noticed that the market for chili crisp was rapidly expanding in Western markets. She saw an opportunity to introduce a broader customer base to the iconic flavors of her hometown, Chengdu, China, and to create her own chili crisp with higher quality ingredients than other competitors on the market. The first step was spending several years just courting Sichuan suppliers and merchants to source the chili crisp's 18 premium ingredients. Since its launch in 2019, Fly by Jing has transformed from a crowd-funded direct-to-consumer (DTC) project to a staple on grocery store shelves, now offering its products in 11,000 stores nationwide including major retailers like Target, Safeway, and Walmart. The company has also debuted additional products like a spicy vinaigrette, a line of instant noodles, and an ultra-hot oil that's appeared on the YouTube show Hot Ones. The concept for a ketchup-slash-chili-crisp actually came from a TikTok video made by Gaw, who used chili crisp to create his own custom ketchup blend. Gaw and Gao connected over the concept, which Gao saw as a natural evolution of her brand's central thesis. 'From day one, we've really tried to decrease the barriers for people to understand Sichuan flavors,' Gao says. She specifically recalls launching the brand's original flavor through collaborations with ice cream shops to show how unexpectedly delicious the pairing could be. 'Showing these flavors truly are good on everything, I think it was really helpful for Western audiences who hadn't experienced this before,' she adds. A satisfying squeeze bottle Fly by Jing's Chili Crisp Ketchup comes in the brand's first-ever squeeze bottle, which Gao's team has actually been conceptualizing for several years. The main challenge with the proposition was making the squeeze format work with the chunky, gritty textures of a good chili crisp. In this case, Gao says, they were able to solve that problem by sifting out some of the larger components and relying more on the deep flavors of the oil itself, which is then balanced with the sweet tanginess of the ketchup. For his part of the collaboration, Gaw assisted in the tasting process and also designed the squeeze bottle's label. The package is a major visual departure from Fly by Jing's other branding, swapping its ' dopamine design ' neon colors for a retro Americana look (and a swaggy image of Gaw's own grandma, clad in a flaming cowboy hat). As of right now, Chili Crisp Ketchup is a limited edition product. Gao plans to test consumer interest through an initial DTC launch, which will help determine whether the product is a good candidate to roll out in retail. Weathering Trump's tariff headwinds In the meantime, Fly by Jing is also testing several other squeeze bottle sauces with production components based in the U.S. and other countries as part of a broader supply chain diversification effort. That's because some of the important ingredients across its portfolio of product offerings—the premium spices and aromatics that are specially sourced from Sichuan, China— are subject to the Trump administration's tariffs on China. Currently, those tariffs equal a 55% tax on imported ingredients, though they could jump up to rates as high as 145% if the Trump administration doesn't relent on its plan to boost them in the next three months.
CNBC
2 minutes ago
- CNBC
Here are Thursday's biggest analyst calls: Nvidia, Amazon, AMD, Cisco, CoreWeave, Sunrun & more
Here are Thursday's biggest calls on Wall Street: Mizuho reiterates Nvidia, Dell and Advanced Micro Devices as outperform The firm raised its price target on several semis companies on Wednesday evening. "Raising Ests/PT for NVDA to $205 (prior $192) AMD to $205 (prior $183) as Hyperscaler capex continues to tick higher, while China adds another tailwind. Raise DELL PT to $160 (prior $150) with strong Tier 2 CSP [cloud service providers] ramps. " Bank of America adds Advanced Micro Devices to the US1 list Bank of America added the stock to its top ideas list. "We are adding Advanced Micro Devices (AMD) to the US 1 List." JPMorgan downgrades Li Auto neutral from overweight JPMorgan downgraded the China EV company on rising competition. "Li Auto (d/g to Neutral): We trim our 2025/26E volume and earnings by ~10-20%, reflecting the fast-changing competitive dynamic facing Li." Read more. Wells Fargo initiates Steel Dynamics as overweight Wells said it likes companies that have exposure to the U.S. "We prefer names with U.S. exposure, as we see steel prices supported by a drop in imports and inventory into year-end that can support mill pricing power. Top picks include STLD and CMC, while we're less confident in imminent relief from excess Chinese supply for more global players TX and MT." UBS initiates SiTime as buy UBS said the semis company has "big AI leverage." "We initiate coverage of SiTime (SITM) with a Buy rating and $260 PT (20% upside)." Citi reiterates CoreWeave as buy Citi said it's sticking with shares of CoreWeave. "The upcoming lock-up may further pressure shares, but we believe buyers will emerge with continuing strong AI demand and a capacity/revenue inflection in Q4/FY26." Rothschild & Co Redburn initiates Regeneron as buy The firm said it's bullish on shares of the biotech company. "For Regeneron , that cycle has been even more extreme: huge sector outperformance since 2012 until a dramatic reversal over the past year. Time for another look at the company? We think so and launch coverage with a Buy recommendation and a $890 price target. Stephens upgrades Asbury Automotive to overweight from equal weight Stephens said in its upgrade of the car detailing company that Asbury is starting to fire on all cylinders. "As part of our work on this note and upgrade, we spoke to numerous auto dealer leaders and operators who know David Hult, worked with him or worked for him. The feedback on CEO Hult is unanimous and consistent. He is a hands-on, attention to details operator." Deutsche Bank reiterates Amazon as buy Deutsche said it's cautiously optimistic on Amazon's grocery strategy. "Early yesterday, Amazon announced what it called "one of the most significant grocery expansions" in the company's history, with free SameDay delivery for US Prime users on perishable orders of $35 or more. While, Amazon's grocery strategy has been a bit of a moving target, and success has been uneven, we do believe that the new product could prove meaningful to Amazon's grocery volume in the medium term." HSBC upgrades dLocal to buy from neutral HSBC upgraded the fintech company following earnings. " dLocal has been exhibiting low earnings volatility and improving disclosures over the past year, and finally this quarter we saw a big EBIT beat (despite some one-off trends) and continued strong volumes." Mizuho upgrades MAA to outperform from neutral Mizuho said the real estate investment trust has an "underleveraged balance sheet." "We upgrade MAA t o Outperform ($150PT), given: accelerating blended rents into 2H25 and accelerating core and FFO/sh growth into 2026e; falling supply across MAA's core markets, suggesting less operating risk and supporting rent improvement; underleveraged balance sheet supporting external growth and further capital deployment." Morgan Stanley reiterates Cisco as overweight Morgan Stanley raised its price target on the stock to $73 per share from $70 following earnings. " Cisco's FQ4 posted upside about in-line with investor expectations, with AI orders accelerating." Cantor Fitzgerald initiates Workday as overweight Cantor said shares of the HR software company has an attractive entry point. "WDAY is a high-quality asset with a strong management team, entrenched competitive position in the enterprise, expanding growth vectors, and latent margin potential. The stock is trading near its all-time low EPS and FCF multiples, which we see as an attractive entry point with a positively skewed risk/reward ratio." Wells Fargo reiterates Sunrun as overweight Wells raised its price target on the stock to $14 per share from $8 and says the solar company remains a top idea. "We're raising our PT to $14/sh, based on a DCF framework: $8/sh of base value and $6/sh of terminal value (2030+). ... We continue to view RUN as a top pick in the residential solar space." Read more. Citi reiterates Microsoft as buy Citi said the tech giant remains a top idea at the firm. " MSFT remains a top pick in software, and we believe this week's announcement is another indication of the company's strong pricing power, which we believed combined with accelerating cloud/AI share gains can drive outsized returns." Barclays initiates Schrodinger as overweight Barclays said shares of the biotech company have plenty more room to run. " Schrödinger (SDGR) has a physics-based drug discovery platform that drives revenues, is used to develop partnered therapeutics programs, and helps fund and internally develop their own early stage pipeline of therapeutics." BTIG upgrades Kratos Defense and Security Solutions to buy from neutral The firm said it sees a slew of positive catalysts ahead for the defense solutions company. "We have consistently called out that the lack of a sizable program of record with steady procurement volumes is something that has kept us from seeing further upside for KTOS shares." Bank of America upgrades Sherwin-Williams to neutral from underperform Bank of America said its "thesis has played out" for Sherwin-Williams . "When we downgraded shares to Underperform, we were concerned about a deceleration in housing markets and sell-side estimates that were overly optimistic. Fundamentally, the thesis has played out, as same-store sales growth has declined to 0.8% and 2Q results and guidance fell short of expectations." Baird upgrades CVS to outperform from neutral Baird said the drug chain retailer is in the midst of a "healthcare benefits turnaround story." "We grow increasingly confident on CVS ' path to unlocking HCB [healthcare benefits] embedded earnings power of ~$5 EPS off 2024."
2 minutes ago
US, Philippines discuss missile system deployments as tensions rise
MANILA, Philippines -- The United States is discussing the possible deployment of more missile launchers to the Philippines to strengthen deterrence against aggression in the disputed South China Sea and other Asian security hotspots, but no final decision has been reached by both sides, Manila's ambassador to Washington said Thursday. The U.S. military delivered a mid-range missile system called the Typhon, a land-based weapon that can fire the Standard Missile-6 and the Tomahawk Land Attack Missile, to the northern Philippines as part of joint combat exercises in April last year. That was followed by the transport by the U.S. military of an anti-ship missile launcher in April this year to the northernmost Philippine province of Batanes, just a sea border away from Taiwan. Beijing strongly protested the installation of the U.S. missile systems, saying they were aimed at containing China's rise and warning that these would threaten regional stability. China has asked the Philippines to withdraw the missile launchers from its territory, but officials led by President Ferdinand Marcos Jr. had rejected the demand. Ambassador Jose Manuel Romualdez said without elaborating that the possible deployment by the U.S. of more Navy Marine Expeditionary Ship Interdiction System or NMESIS missile launchers"was being discussed for consideration by both sides.' The anti-ship missile systems could be installed along Philippine coastal regions facing the South China Sea and outlying regions to beef up deterrence against aggression, he said. 'This is part of the strong U.S. and Philippines defense partnership,' Romualdez told The Associated Press. Romualdez spoke on the sidelines of a trade and investment conference in Manila, where he and Philippine Foreign Secretary Theresa Lazaro encouraged major U.S. companies to invest in a wide array of industries — from energy and telecommunications to infrastructure and navy shipbuilding — in the Philippines, the oldest treaty ally of the U.S. in Asia. 'When U.S. companies invest here, it's not just about returns on capital — it's about returns on alliance,' Romualdez told U.S. business executives at the conference. 'A stronger Philippine economy means a more capable and reliable defense partner for the United States.' 'At a time when America is diversifying supply chains and rethinking global strategy, we are a natural choice – and a strategic necessity,' Romualdez said. 'I ask you to carry this message to the Trump administration: `Every U.S. dollar invested in the Philippines strengthens America's position in the Indo-Pacific.'' U.S. Defense Secretary Pete Hegseth flew to Manila in March in his first visit to Asia and said the Trump administration would work with allies to ramp up deterrence against threats across the world, including China's increasingly aggressive actions in the South China Sea. The U.S. was not gearing up for war, Hegseth said then, but underscored that peace would be won 'through strength.' China claims virtually the entire South China Sea. The Philippines, Vietnam, Malaysia, Brunei and Taiwan also have overlapping claims to the resource-rich and busy waters, but confrontations have spiked between Chinese and Philippine coast guard and naval forces in recent years. On Wednesday, the U.S. briefly deployed two warships in what it called a 'freedom of navigation' operation off the disputed Scarborough Shoal in the South China Sea where two Chinese navy and coast guard ships collided earlier in the week while trying to drive away a smaller Philippine coast guard vessel. The high-seas accident sparked alarm among Asian and Western countries. 'Freedom of navigation is essential for the trillions of dollars worth of commerce that passes through these waters,' the U.S. ambassador to the Philippines, MaryKay Carlson, told reporters on the sidelines of the Manila investment conference. 'It's about commerce. It's about lives and livelihoods.'
