Evie Liu

The company said it expects full-year sales of between $30.6 billion and $31 billion, up from a previous call for between $30.3 billion and $30.8 billion.

A potential tie-up between two snack giants— Mondelez and Hershey —could significantly reshape the industry. Hershey shares shot up by 11% on Monday following reports that Mondelez had approached the chocolate maker about a potential takeover. Hershey boasts more than 90 confection brands, including the namesake Hershey chocolates and the famous Reese’s Peanut Butter Cups.

Albertsons said Kroger has failed to make best efforts to secure regulatory approval of the deal, a claim the latter called “baseless.”

Packaged-food giant Conagra Foods is hoping to appeal to people taking weight-loss drugs with frozen entrees like chicken fettuccini alfredo or meatball marinara. Starting in January, 26 items in Conagra’s Healthy Choice frozen meal line will feature an “On Track” badge on the package and the phrase “GLP-1 Friendly,” indicating that these products are high in protein, low calorie, and a good source of fiber. GLP-1 drugs such as Ozempic and Wegovy help manage Type 2 diabetes and support weight loss by suppressing users’ appetites.

Cathie Wood’s ARK Invest bought more shares in Archer Aviation showing its bullish stance on the drone company. Collectively, the funds acquired more than five million shares worth $36 million, about 1% of the stock’s total market value.

Grocery stores have notoriously narrow profit margins. Here’s the metric that points to where those margins are headed.

Its net sales have declined on a year-over-year basis for four quarters straight, while earnings were down for the past two quarters

General Mills stock tumbled in premarket trading Wednesday after the packaged-food company reported better-than-expected fiscal second-quarter earnings but lowered its fiscal-year outlook. General Mills reported net sales of $5.2 billion for the quarter ended Nov. 24, a 2% increase from the prior year and narrowly beating the FactSet consensus estimate of 5.1 billion. Shares of the company fell 3.7% to $63.50, however, after General Mills slashed its guidance for the fiscal year, citing “an uncertain macroeconomic backdrop for consumers across its core markets.”

General Mills stock tumbled on Wednesday after the packaged-food company reported better-than-expected earnings but lowered outlook. For its fiscal second quarter ended Nov. 24, General Mills reported net sales of $5.2 billion, a 2% increase from the prior year that narrowly beat the FactSet consensus estimate of $5.1 billion. Adjusted earnings of $1.40 a share topped expectations of $1.22.

Starbucks shares have tumbled more than 6% since last Tuesday after the union representing thousands of its store workers announced a strike to protest stalled negotiations with the company. More locations in Colorado, Ohio, and Pennsylvania joined on Saturday, followed by union workers in Missouri, New Jersey, and New York on Sunday. The Workers United union, representing more than 10,000 Starbucks workers across 525 stores, said the strike could reach “hundreds of stores” by Tuesday.