Amanda Gomez joined Reuters Breakingviews in January 2018. She previously held internships at CNN International and Argentina's Clarín newspaper. She has also worked as a business journalist at TheStreet.com covering the stock market and written about the food industry at trade publication The Food Institute. She completed her master’s degree at Columbia Journalism School in 2017 and has a bachelor’s in journalism and media studies from Rutgers University.
The $29 bln ketchup maker is one of the few packaged-foods producers whose stock has sagged during the Covid-19 outbreak. Consumers stocking up on canned and boxed goods have already prompted General Mills and Campbell Soup to raise earnings guidance. Kraft’s debt holds it back.
The soda and snack company’s $4 bln purchase of Rockstar energy drinks fills a gap in its portfolio that Coca-Cola has already got covered. Pepsi has lagged its nemesis in growth and valuation. Rockstar should help close that gap, even if it’s hardly a bet on healthy lifestyles.
The plant-based meat maker’s revenue growth decelerated to 212%. And competitors have only just started to flood the market with their own alt-meat. That threatens to hit Beyond Meat in two ways: the amount it can sell, and the pricing power reflected in its 34% gross margin.