|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||61.99 - 61.99|
|52-week range||61.99 - 61.99|
|Beta (3Y monthly)||0.54|
|PE ratio (TTM)||24.87|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
(Bloomberg) -- In the world of artificial meats, you can’t get more alien than growing your beef in space.That’s what the Israeli startup Aleph Farms showed might be possible in an experiment on the International Space Station last week, where it grew small-scale muscle tissue from bovine cells using equipment made by the Russian company 3D Bioprinting Solutions.“We are working on a new method to produce the same meat, but in a way that uses less than half of the greenhouse gasses,” said Didier Toubia, co-founder and chief executive officer of Aleph Farms, noting that the experiment was preliminary and just a proof of concept. “The experiment in space shows that meat can be cultivated in the harshest conditions, meaning anywhere, anytime and for anyone.”Consumers, cutting down on meat intake for dietary reasons or concern for environment, have already been introduced to plant-based burgers, sausage and other meat-like products.Beyond Meat Inc., a company that touts its production process as more humane and sustainable than livestock production, has seen its stock soar since its early May debut price. The market for such plant-based products is expected to reach $27.9 billion by 2025 according to research firm Markets and Markets, and Beyond Meat already competes with Impossible Foods Inc. Kellogg Co., Nestle and Tyson Foods Inc., among others.While partly a publicity stunt, the experiment’s goal was to help the Aleph Farms advance its research into meat production in harsh conditions without depending on natural resources, the company said. The U.S.-based Meal Source Technologies and Finless Food also participated in the experiment. While Aleph Farms’ proof of concept in space was successful, even on Earth it will take at least three years before consumers will be able to buy its steaks or burgers, according to company estimates.“The mission of providing access to high-quality nutrition anytime, anywhere in a sustainable way is an increasing challenge for all humans,” said Jonathan Berger, CEO of The Kitchen accelerator that co-founded Aleph.Aleph Farms, which has raised about $13 million, has investors including Israel’s Strauss Group, Cargill Inc., New Crop Capital, and Vis Vires New Protein.(Updates with names of other companies involved in the experiment)To contact the reporter on this story: Gwen Ackerman in Jerusalem at email@example.comTo contact the editors responsible for this story: Riad Hamade at firstname.lastname@example.org, Giles TurnerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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Wall Street abruptly reversed its gains on Thursday as U.S. President Donald Trump tweeted that he would impose an additional 10% tariffs on $300 billion in Chinese imports, sending the long-running U.S. China trade war that has rattled markets for months back to center stage. Trump's remarks also sent U.S. Treasury yields lower, with the 10-year yield dropping to its lowest level since November 2016.
Battle Creek, Michigan-based Kellogg, which makes Pringles, Pop-Tarts, Eggo Waffles and a wide range of breakfast cereals including Corn Flakes, has been spending more on advertising and developing new products to suit changing consumer preferences for healthier food and smaller portions. Net sales from North America, which accounts for nearly two-thirds of Kellogg's revenue, rose 1% in the second quarter ended June 29.
The cereal maker said in November it was exploring options to sell its cookies and fruit snacks units in a bid to sharpen focus on its core segments in North America. Last month, the company also said it was reorganizing its European business that would result in charges of about $50 million.
"This transaction will result in a smaller, more focused (North American) portfolio with fewer brands... requiring a simpler, more agile and rightsized organization," said Kris Bahner, senior vice president for Global Corporate Affairs. It said it expected the restructuring moves in Europe and North America to be completed by end of 2020.
Kellogg Stock Is Down 5% since Its Q1 Results—What’s Next?(Continued from Prior Part)Unattractive valuationDespite the recent weakness in the Kellogg Company (K) stock, it looks unattractive on the valuation front. Kellogg stock is trading at a
Kellogg Stock Is Down 5% since Its Q1 Results—What’s Next?(Continued from Prior Part)EPS could continue to fallWe expect the Kellogg Company’s (K) earnings to remain subdued in the coming quarters, reflecting pressure on its margins.
Kellogg Stock Is Down 5% since Its Q1 Results—What’s Next?(Continued from Prior Part)Factors that could hurt Kellogg’s top line We expect the Kellogg Company (K) to continue to disappoint with its sales performance in the coming quarters.
Kellogg Stock Is Down 5% since Its Q1 Results—What’s Next?Weakness in base business continues to hurtShares of the Kellogg Company (K) are down ~5% since the company posted weak first-quarter earnings results on May 2. Low organic sales, cost