|Bid||102.06 x 0|
|Ask||102.04 x 0|
|Day's range||101.54 - 104.26|
|52-week range||89.84 - 113.20|
|Beta (5Y monthly)||0.31|
|PE ratio (TTM)||23.74|
|Forward dividend & yield||2.70 (2.58%)|
|Ex-dividend date||27 Apr 2020|
|1y target est||N/A|
(Bloomberg) -- Nestle SA has stopped selling Milkybar Wowsomes chocolates that used a new sugar-reduction technology amid weak demand.Sales of the chocolate bars, which were sold in the U.K., were “underwhelming” as they didn’t taste as creamy as full-sugar chocolate, Chief Technology Officer Stefan Palzer said at a media event in Vevey, Switzerland, ahead of the company’s full-year results Thursday.Milkybar Wowsomes were the first product to apply a technology Nestle unveiled in 2016 that creates a more porous sugar structure, leading to a smaller amount producing the same sweetness. The company had likened the process to hollowing out sugar crystals.Some analysts had expected the discovery to give Nestle a competitive edge as food companies around the world try to keep up with consumers’ demand for healthier fare. The products were pulled in mid-2019, according to a spokeswoman.Nestle is now working on the next generation of sugar-reduction techniques that will be introduced this year and can be implemented in a wider range of categories, including drinks. The hollow sugar was mainly for use in chocolate.“We took these learnings and we have now something much better performing,” Palzer said, adding the new methods will also cut sugar by as much as 30% with a natural approach. He declined to provide more details.“We fail forward,” said Patrice Bula, head of Nestle’s strategic business units. “You take it and launch a better product. And if we fail again, we try again.”To contact the reporter on this story: Corinne Gretler in Zurich at email@example.comTo contact the editors responsible for this story: Eric Pfanner at firstname.lastname@example.org, Lisa Wolfson, Jonathan RoederFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Food giant Nestle has set up new structures to turn innovative ideas from outside and inside the company into new products, its technology head told journalists on Wednesday ahead of the publication of the group's full-year results. Employees, often from Nestle's research teams, can apply for funding to develop products via the company's internal ideas factory or "shark tank", while startups or students can work with Nestle scientists and resources, including lab space, at so-called "accelerators". Nestle and its packaged food peers have come under pressure to speed up innovation from a flurry of small local rivals that win over health and eco-conscious consumers with trendy foods and drinks, from cold-brew coffee to plant-based burgers.
The funding brings Nestle's total investment to $473 million, increasing the Swiss company's stake to 19.9% of Aimmune's outstanding stock and voting power. Nestle's investment is an incremental positive for Aimmune's shares, which have seen some weakness due to investor worries over financing, Piper Sandler analyst Christopher Raymond wrote in a note. "With this additional investment, we think the prospect of an outright take out by Nestle (or anyone else for that matter) has to be factored in more than before," Raymond said.
U.S. drugmaker AbbVie's $63 billion tie-up with Allergan is getting help from Nestle and AstraZeneca buying up products the Irish-domiciled company is shedding to placate regulators. AbbVie is swallowing Allergan to give it control of the lucrative wrinkle treatment Botox and to diversify a portfolio heavily dependent on its $19-billion-per-year arthritis drug Humira, the world's best-selling medicine that is advancing toward U.S. patent expiration. Swiss food group Nestle bulked up its medical nutrition business with Allergan's Zenpep, a product with 2018 sales of $237 million which treats people whose pancreases do not provide enough enzymes to digest fats, proteins and sugars.
WINNIPEG, Manitoba/ZURICH (Reuters) - Food company Nestle SA said on Friday it has teamed up with small Canadian plant-based food ingredient makers Burcon and Merit Functional Foods, the second such supply agreement this month that targets Canadian crops. Canada is among the world's largest growers of peas and the biggest producer of canola, crops high in protein that technology companies like Burcon can separate and isolate for use in foods and beverages. The agreement with Nestle is long-term, with no expiry, Burcon Chief Executive Johann Tergesen said in an interview.
Food giant Nestle will invest up to 2 billion Swiss francs ($2.07 billion) to source more recycled plastics for packaging its products and reduce its use of new plastics by a third by 2025, it said on Thursday. "We are high up on the list because we are one of the largest companies out there in packaged goods and now we're also taking pretty big steps in using our size to actually solve the problem," Chief Executive Mark Schneider told journalists. "At the moment, outside PET bottles, there's not a lot of recycled plastic available that is suitable for packaging food," Nestle Chief Technology Officer Stefan Palzer told Reuters on the sidelines of the event.
Swiss food giant Nestle said on Monday it had completed a 20 billion Swiss franc ($20.7 billion) share buyback programme and reiterated plans for a new one up to the same amount starting next year. Since July 4, 2017, Nestle said it had repurchased 225,186,059 of its shares at an average price per share of 88.82 Swiss francs. "Nestle will start a new share buyback program of up to CHF 20 billion as announced on Oct. 17, 2019," the company said in a statement.
Swiss food giant Nestle said on Monday it had completed a 20 billion Swiss franc ($20.7 billion) share buyback program and reiterated plans for a new one up to the same amount starting next year. Since July 4, 2017, Nestle said it had repurchased 225,186,059 of its shares at an average price per share of 88.82 Swiss francs. "Nestle will start a new share buyback program of up to CHF 20 billion as announced on Oct. 17, 2019," the company said in a statement.
Nestle in February put Herta charcuterie, the cold cuts and meat-based products unit, under strategic review as it no longer fit the company's strategic focus on healthy nutrition and plant-based offerings. The Swiss company would hold a 40% stake in the joint venture that would include Herta charcuterie, available in six European countries, and Herta dough business in France and Belgium. Herta charcuterie and dough units together reported sales of 667 million euros last year and have been valued at 690 million euros, Nestle said.
Investing.com -- Boris Johnson abruptly ends his honeymoon with the markets by reviving the threat of a no-deal Brexit at the end of the year, FedEx reports earnings a day after being spurned by Amazon and housing starts data for November will show the reality behind record-breaking levels of confidence among homebuilders. Plus Boeing's decision to halt production of the 737 MAX hits aerospace suppliers around the world. Here's what you need to know in financial markets on Tuesday, 17th December.