John Morrissey serves pints of Guinness at a traditional Irish pub in Dublin on May 21, 2024, in Dublin, Ireland. Nurphoto | Nurphoto | Getty Images Shares of spirits giant Diageo tumbled more than 10% on Tuesday morning, after the Johnnie Walker-maker posted its first sales decline since the start of the pandemic. Shares were...
Tag: food and drink
Tilray Brands’ revenue jumps, losses narrow
Cannabis producer Tilray Brands on Wednesday reported a jump in revenue as it diversifies its portfolio and moves deeper into the beer industry. The company reported $177 million in net revenue, up 15% year over year, for its fiscal first quarter. Its cannabis division brought in $70 million in net revenue, reflecting a 20% spike year...
Arm IPO to help jump-start IPO market: Airbnb investor Rick Heitzmann
Arm Holdings will help jump-start the IPO market, according to the venture capitalist behind Airbnb and Pinterest. FirstMark Capital’s Rick Heitzmann believes real fundamental demand for IPOs is returning. “People are looking for the new toy,” the firm’s founder and partner told CNBC’s “Fast Money” on Thursday. Chip design company Arm, which is affiliated with...
China’s food delivery app Meituan shares fall on weaker Q3 outlook
Food delivery couriers for Meituan stand with insulated bags during a morning briefing in Beijing, China, on Wednesday, April 21, 2021. Yan Cong | Bloomberg | Getty Images Meituan‘s Hong Kong-listed shares fell more than 5% on Friday after CEO Wang Xing warned of a food delivery slowdown in the next quarter. “For our food...
Cramer expects Cava to roar in IPO, warns investors to tread carefully
CNBC’s Jim Cramer on Tuesday gave investors his take on Cava, the popular fast-casual Mediterranean chain that’s expected to go public this week. While he thinks the stock will roar on the IPO, he said investors should tread carefully and not burn themselves if “Cava comes out of the gateway too hot.” “Unless you can...