Diageo (NYSE:DEO) Stock, Quote.Headers.trade-ideas

Diageo

The product of a merger between Grand Metropolitan and Guinness in 1997, Diageo is one of the world's leading producers of branded premium spirits, approximately level with Kweichow Moutai in revenue terms. It also produces and markets beer and wine. Brands include Johnnie Walker blended scotch, Smirnoff vodka, Crown Royal Canadian whiskey, Captain Morgan rum, Casamigos tequila, Tanqueray gin, Baileys Irish Cream, and Guinness stout. Diageo also owns 34% of premium champagne and cognac maker Moet Hennessy, a subsidiary of French luxury goods maker LVMH Moet Hennessy-Louis Vuitton, and a near-56% stake in India's United Spirits.

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Ryan Reynolds is known to many for his role as Deadpool in films. The actor is also an experienced investor and entrepreneur.

Ryan Reynolds Dominates Box Office As Deadpool While Also Building Billion Dollar Businesses

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Investors interested in Beverages - Alcohol stocks are likely familiar with Kirin Holdings Co. (OTC: KNBWY) and Diageo (NYSE: DEO). But which of these two stocks is more attractive to value investors?

KNBWY or DEO: Which Is the Better Value Stock Right Now?

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Why Merck Shares Are Trading Lower By 10%? Here Are Other Stocks Moving In Tuesday&#39;s Mid-Day Session

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Actor Ryan Reynolds is best-known these days for his role as Deadpool on the big screen, a role that is setting records for media giant The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) with a third franchise film <a href="https://www.benzinga.com/general/entertainment/24/07/40003208/ryan-reynolds-hugh-jackman-starrer-deadpool-wolverine-breaks-box-office-records-rakes-in-ov">currently in theaters. </a>
&#8220;Deadpool &amp; Wolverine&#8221; has grossed $582.7 million domestically and $634.8 billion internationally for a global total of $1.22 billion at the time of writing.
The film has set many records, including several for an &#8220;R&#8221; rated film, along with boosting Disney&#8217;s box office success for the 2024 year. 
While he&#8217;s known for his role as Deadpool, aka the &#8220;merc with the mouth,&#8221; Reynolds is also known for his investing and entrepreneurship thanks to a series of billion-dollar companies. 
Building Companies:&nbsp;A thread on X, formerly known as Twitter, about&nbsp;<a href="https://www.benzinga.com/topic/ryan-reynolds" target="_blank" rel="noreferrer noopener">Ryan Reynolds</a>&nbsp;highlights that he may be the &#8220;GOD of billion dollar brands.&#8221;
The&nbsp;<a href="https://twitter.com/timjcarden/status/1772277477424971807?s=20" target="_blank" rel="noreferrer noopener">thread&nbsp;</a>by Tim Carden has over five million views and points to several commonalities among the companies that are owned or were sold by Reynolds.
Carden said Reynolds looks for opportunities and when he makes an investment or deal he actively markets the business himself and oftentimes &#8220;becomes the face of the brand.&#8221; Reynolds also helps in the creative process of making ads about products.
&#8220;When Ryan sees a viable opportunity, he takes it,&#8221; Carden said.
An example is&nbsp;Aviation Gin,&nbsp;which Reynolds tasted and fell in love. His love for the brand led to an investment and the actor became the face of the brand. Aviation Gin was later sold to alcohol giant&nbsp;Diageo PLC&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>), netting a nice return for the actor.
&#8220;While many celebrities just pump money and sit back, Ryan is in the driver&#8217;s seat.&#8221;
Another example highlighted by Carden is the marketing company&nbsp;Maximum Effort, which has helped with ads for the Deadpool movies, which the company is co-producing with Disney. 
&#8220;Ryan knows that as an actor, his strengths are in front of a camera — and he plays to his strengths.&#8221;
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent083024">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It&#8217;s Important: Carden said Reynolds knows how to perfectly capitalize on trends and use his talents after recognizing the trend.
Reynolds<a href="https://www.benzinga.com/general/entertainment/24/01/36875148/formula-one-rejects-andretti-general-motors-team-bid-what-this-could-mean-for-us-growth-esp" target="_blank" rel="noreferrer noopener">&nbsp;also invested in&nbsp;</a>a&nbsp;Liberty Media Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWONA#NASDAQ">FWONA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWONK#NASDAQ">FWONK</a>) Formula 1&nbsp;motor racing team, which comes as the valuation of teams in the sport is rising.
The actor also owns a soccer team and was&nbsp;<a href="https://www.benzinga.com/general/entertainment/23/05/32174242/ryan-reynolds-senators-bid-may-be-dropped-like-its-hot-as-snoop-steps-up-in-next-episode-of" target="_blank" rel="noreferrer noopener">among the bidders</a>&nbsp;for the National Hockey League&#8217;s Ottawa Senators.
&#8220;Ryan Reynolds is more than just an actor. He is also a savvy serial businessman who knows a thing or two about building a billion-dollar brand. He hunts for opportunities, gets personally involved in marketing the business, injects his personal brand, and is always on the move,&#8221; Carden said.
Along with Aviation Gin getting bought out, another Reynolds investment recently saw a buyout.&nbsp;Mint Mobile&nbsp;was purchased by&nbsp;T-Mobile US&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>).
Like Aviation Gin, Reynolds starred in ads for the company after he invested.
The ownership of Maximum Effort helps Reynolds quickly make ads for companies he invests in and for movies he stars in. The combination leads to Reynolds easily recognizable as an investor or the face of a product.
Check This Out:
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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent083024">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This article was previously published by Benzinga and has been updated.
Photo: Shutterstock

Investors interested in Beverages - Alcohol stocks are likely familiar with Kirin Holdings Co. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/knbwy#OTC">KNBWY</a>)&nbsp;and Diageo (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/deo#NYSE">DEO</a>). But which of these two stocks is more attractive to value investors? We&#39;ll need to take a closer look to find out.
The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.
Kirin Holdings Co. and Diageo are sporting Zacks Ranks of #2 (Buy) and #5 (Strong Sell), respectively, right now. The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that KNBWY has an improving earnings outlook. But this is only part of the picture for value investors.
Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.
Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.
KNBWY currently has a forward P/E ratio of 13.61, while DEO has a forward P/E of 18.93. We also note that KNBWY has a PEG ratio of 0.77. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company&#39;s expected EPS growth rate. DEO currently has a PEG ratio of 4.01.
Another notable valuation metric for KNBWY is its P/B ratio of 1.32. The P/B is a method of comparing a stock&#39;s market value to its book value, which is defined as total assets minus total liabilities. By comparison, DEO has a P/B of 6.19.
These metrics, and several others, help KNBWY earn a Value grade of B, while DEO has been given a Value grade of D.
KNBWY stands above DEO thanks to its solid earnings outlook, and based on these valuation figures, we also feel that KNBWY is the superior value option right now.
<a href="https://www.zacks.com/stock/news/2328403/knbwy-or-deo-which-is-the-better-value-stock-right-now?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_3-2328403">To read this article on Zacks.com click here.</a>

Shares of Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) fell sharply during Tuesday's session after the company reported second-quarter financial results and cut its FY24 adjusted EPS <a href="https://www.benzinga.com/general/biotech/24/07/40036607/mercks-q2-earnings-revenue-and-eps-beat-helped-by-strong-keytruda-sales-but-acquisition-costs-bit">guidance below estimates</a>.
Merck reported second-quarter sales of $16.1 billion, up 7% year-over-year, beating the consensus estimate of $15.84 billion. Excluding the impact of foreign exchange, sales increased 11%. Merck reported adjusted EPS of $2.28, a shift from an EPS loss of $(2.06), beating the consensus of $2.15, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Merck shares dipped 9.5% to $115.50 on Tuesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Imunon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMNN#NASDAQ">IMNN</a>) shares jumped 147.8% to $2.9250 after the company announced topline results from its Phase 2 OVATION 2 study with IMNN-001. The results showed an 11.1-month improvement in median overall survival compared to standard-of-care alone in the intent-to-treat population.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) surged 97% to $0.1731. AGAPE ATP strengthened wellness division via innovative incubation with emerging local SMEs.</li>
<li>Processa Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCSA#NASDAQ">PCSA</a>) shares climbed 53% to $2.60 after the company announced FDA clearance of its IND application for a Phase 2 clinical trial of NGC-Cap in breast cancer.</li>
<li>INVO Bioscience, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INVO#NASDAQ">INVO</a>) gained 33% to $1.1513.</li>
<li>Jet.AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JTAI#NASDAQ">JTAI</a>) shares gained 29% to $0.3850.</li>
<li>2U, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWOU#NASDAQ">TWOU</a>) jumped 28% to $3.4018.</li>
<li>CalciMedica, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CALC#NASDAQ">CALC</a>) jumped 26.3% to $5.24.</li>
<li>JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) rose 20.6% to $7.16 after the company reported better-than-expected second-quarter financial results.</li>
<li>Lumen Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>) rose 19.1% to $2.3050.</li>
<li>Commvault Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVLT#NASDAQ">CVLT</a>) gained 19.1% to $146.77 after the company reported better-than-expected first-quarter financial results and issued second-quarter revenue guidance above estimates. Also, the company raised its FY25 revenue guidance.</li>
<li>Harmonic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLIT#NASDAQ">HLIT</a>) climbed 18.8% to $13.96 after the company reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates.</li>
<li>Meta Data Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIU#NYSE">AIU</a>) gained 18.8% to $5.42.</li>
<li>Enveric Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVB#NASDAQ">ENVB</a>) rose 18.3% to $0.59 after jumping around 6% on Monday.</li>
<li>Inspirato Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPO#NASDAQ">ISPO</a>) gained 18.3% to $6.20 after jumping over 50% on Monday.</li>
<li>Sprouts Farmers Market, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFM#NASDAQ">SFM</a>) shares gained 15.9% to $98.13 after the company reported better-than-expected second-quarter financial results and issued its third-quarter earnings guidance above estimates.</li>
<li>NeoGenomics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEO#NASDAQ">NEO</a>) gained 16.1% to $17.00 following upbeat earnings.</li>
<li>Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) rose 16.1% to $2.1250 after the company reported better-than-expected quarterly financial results.</li>
<li>Sprouts Farmers Market, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFM#NASDAQ">SFM</a>) gained 15.5% to $97.79 after the company reported better-than-expected second-quarter financial results. Additionally, the company issued third-quarter earnings guidance above estimates.</li>
<li>Howmet Aerospace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>) climbed 14.1% to $94.56 following better-than-expected second-quarter earnings, issued strong guidance, raised its dividend, increased its buyback authorization and issued strong guidance.</li>
<li>Repligen Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGEN#NASDAQ">RGEN</a>) gained 13.4% to $156.48 following -quarter earnings.</li>
<li>Varonis Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNS#NASDAQ">VRNS</a>) climbed 13.3% to $54.92 as the company reported better-than-expected second-quarter financial results and raised its FY24 guidance on Monday.</li>
<li>Hayward Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAYW#NYSE">HAYW</a>) gained 11% to $14.98 after the company reported better-than-expected second-quarter EPS results.</li>
<li>F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>) shares rose 10.6% to $196.46 after the company reported better-than-expected third-quarter financial results and raised its FY24 earnings guidance above estimates.</li>
<li>Pharming Group N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHAR#NASDAQ">PHAR</a>) shares gained 9.8% to $8.28. Pharming Group will report second quarter financial results on Aug. 1.</li>
<li>PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) climbed 8.5% to $63.98 after the company reported better-than-expected second quarter financial results.</li>
<li>Stanley Black &amp; Decker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWK#NYSE">SWK</a>) rose 8.1% to $104.28 after the company reported better-than-expected second quarter financial results. Additionally, the company revised its FY24 adjusted EPS forecast upward.</li>
<li>Gartner, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IT#NYSE">IT</a>) gained 6.4% to $500.83 following better-than-expected quarterly earnings.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) shares fell 80.8% to $11.44. This sudden decline was triggered by the registration of two private placements with the U.S. Securities and Exchange Commission, which unlocked millions of shares and led to increased selling pressure, Bloomberg reported on Tuesday.</li>
<li>VBI Vaccines Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VBIV#NASDAQ">VBIV</a>) declined 64.8% to $0.1960 after the company was granted protection under Canada&#8217;s CCAA by the Ontario Superior Court. The company received approval for a DIP loan, and Ernst &amp; Young was appointed as the monitor during the restructuring process.</li>
<li>CNS Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNSP#NASDAQ">CNSP</a>) dipped 40.8% to $0.6158 after the company announced it entered into an exclusive license agreement with Cortice Biosciences.</li>
<li>BIMI Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIMI#NASDAQ">BIMI</a>) tumbled 37% to $0.73.</li>
<li>Bloomz Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLMZ#NASDAQ">BLMZ</a>) dipped 30.7% to $1.78.</li>
<li>Ekso Bionics Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EKSO#NASDAQ">EKSO</a>) fell 26.6% to $1.0901 after the company reported worse-than-expected quarterly sales results.</li>
<li>Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) shares declined 25.2% to $12.27 after declining 4% on Monday.</li>
<li>VSee Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSEE#NASDAQ">VSEE</a>) fell 23.3% to $2.7999.</li>
<li>SmartRent, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMRT#NYSE">SMRT</a>) dipped 21.5% to $1.8850 after the company announced a CEO resignation and suspended its 2024 outlook.</li>
<li>Symbotic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) shares fell 21.1% to $28.13 after the company reported worse-than-expected third-quarter earnings results and issued fourth-quarter revenue guidance below estimates.</li>
<li>Woodward, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) fell 16.5% to $152.91 after the company reported mixed third-quarter financial results and lowered its FY24 revenue guidance below estimates.</li>
<li>NIP Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIPG#NASDAQ">NIPG</a>) fell 16.2% to $13.82. NIP Group announced the closing of its initial public offering and partial exercise of underwriters' option to purchase additional ADSs.</li>
<li>Merchants Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBIN#NASDAQ">MBIN</a>) dipped 16.2% to $43.68 after the company reported worse-than-expected quarterly financial results. Additionally, Raymond James downgraded the stock.</li>
<li>Amkor Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>) shares fell 14.2% to $32.24 after the company issued roughly in-line guidance.</li>
<li>OneWater Marine Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONEW#NASDAQ">ONEW</a>) dipped 13.2% to $26.43 after the company reported worse-than-expected third-quarter financial results and issued weak guidance.</li>
<li>Celldex Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLDX#NASDAQ">CLDX</a>) shares fell 11.6% to $37.06 after reporting Phase 2 results for barzolvolimab in chronic inducible urticaria.</li>
<li>Transcat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRNS#NASDAQ">TRNS</a>) declined 11.2% to $120.00 following weak quarterly sales.</li>
<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) dipped 9.7% to $233.65 following reports indicating Delta Air Lines would seek compensation from the cybersecurity company for last week&#8217;s outage.</li>
<li>Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>) shares dipped 9.3% to $50.61 following weak quarterly sales.</li>
<li>Corning Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) fell 8.7% to $38.99 following second-quarter results.</li>
<li>Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) shares fell 8.3% to $50.40 after the company reported worse-than-expected second-quarter financial results and issued weak third-quarter revenue guidance.</li>
<li>Ecolab Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>) declined 6.7% to $231.31 after the company reported worse-than-expected second-quarter sales results.</li>
<li>The Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) fell 6.2% to $159.37 following a quarterly revenue miss.</li>
<li>Diageo plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>) fell 5.5% to $124.30 after the company missed annual profit expectations.</li>
<li>Fresenius Medical Care AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMS#NYSE">FMS</a>) shares declined 4.5% to $19.45 following weak quarterly sales.</li>
</ul>
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Why Merck Shares Are Trading Lower By 10%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

U.S. stock futures were slightly higher this morning, with the Dow futures gaining around 0.1% on Tuesday.
Shares of Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) fell sharply in today's pre-market trading after the company reported worse-than-expected second-quarter financial results and issued weak <a href="https://www.benzinga.com/news/earnings/24/07/40022763/lattice-semiconductor-stock-falls-on-worse-than-expected-q2-results">third-quarter revenue guidance</a>.
Lattice Semiconductor reported quarterly earnings of 23 cents per share, which missed the analyst consensus estimate of 24 cents per share. Quarterly sales came in at $124.076 million, which missed the analyst consensus estimate of $130.172 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Lattice Semiconductor shares tumbled 14.8% to $46.82 in the pre-market trading session.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Symbotic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) shares dipped 19.5% to $28.70 in pre-market trading after the company reported worse-than-expected third-quarter earnings results and issued fourth-quarter revenue guidance below estimates.</li>
<li>Woodward, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) declined 10.5% to $164.01 in pre-market trading after the company reported mixed third-quarter financial results and lowered its FY24 revenue guidance below estimates.</li>
<li>Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) shares dipped 9.6% to $14.85 in pre-market trading after declining 4% on Monday.</li>
<li>Celldex Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLDX#NASDAQ">CLDX</a>) shares tumbled 8.6% to $38.33 in pre-market trading after reporting Phase 2 results for barzolvolimab in chronic inducible urticaria.</li>
<li>Diageo plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>) declined 8.5% to $120.36 in pre-market trading after the company missed annual profit expectations.</li>
<li>Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>) shares fell 7.8% to $51.50 in pre-market trading following weak quarterly sales.</li>
<li>Soho House &amp; Co Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHCO#NYSE">SHCO</a>) fell 7.3% to $4.80 in pre-market trading. Soho House &amp; Co will release its second-quarter financial results on Friday, Aug. 9.</li>
<li>Fitell Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTEL#NASDAQ">FTEL</a>) declined 6.8% to $14.67 in pre-market trading.</li>
<li>Amkor Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>) shares fell 6.2% to $35.28 in pre-market trading after the company issued roughly in-line guidance.</li>
<li>Fresenius Medical Care AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMS#NYSE">FMS</a>) shares declined 5.7% to $19.20 in pre-market trading following weak quarterly sales.</li>
<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) shares declined 4.7% to $246.69 in pre-market trading.</li>
</ul>
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<li><a href="https://www.benzinga.com/news/24/07/40009447/roblox-morgan-stanley-and-2-other-stocks-insiders-are-selling">Roblox, Morgan Stanley And 2 Other Stocks Insiders Are Selling</a></li>
</ul>

Pre-Market Outlook

FTEL

SHCO

Lattice Semiconductor Posts Weak Q2 Results, Joins Symbotic, Woodward And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

Shares of F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>) shares rose sharply in today's pre-market trading after the company reported better-than-expected third-quarter financial results and raised its FY24 earnings <a href="https://www.benzinga.com/news/earnings/24/07/40023356/f5-shares-climb-on-better-than-expected-q3-results-strong-forward-guidance">guidance above estimates</a>.
F5 reported quarterly earnings of $3.36 per share, which beat the analyst consensus estimate of $2.97 per share. Quarterly sales came in at $695.495 million, which beat the analyst consensus estimate of $686.062 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
F5 shares jumped 14.3% to $202.92 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Imunon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMNN#NASDAQ">IMNN</a>) gained 104.2% to $2.41 in pre-market trading. IMUNON will report topline results from the Phase 2 OVATION 2 study with IMNN-001 In advanced ovarian cancer on July 30.</li>
<li>Jet.AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JTAI#NASDAQ">JTAI</a>) shares climbed 48% to $0.4422 in pre-market trading.</li>
<li>Enveric Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVB#NASDAQ">ENVB</a>) rose 26.3% to $0.6289 in pre-market trading after jumping around 6% on Monday.</li>
<li>Inspirato Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPO#NASDAQ">ISPO</a>) gained 22.3% to $6.41 in pre-market trading after jumping over 50% on Monday.</li>
<li>Sprouts Farmers Market, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFM#NASDAQ">SFM</a>) shares gained 17.4% to $99.50 in pre-market trading after the company reported better-than-expected second-quarter financial results and issued its third-quarter earnings guidance above estimates.</li>
<li>Serve Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) gained 16.1% to $22.51 in pre-market trading after jumping 47% on Monday.</li>
<li>NIP Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIPG#NASDAQ">NIPG</a>) shares gained 15.2% to $19.00 in pre-market trading. NIP Group announced the closing of its initial public offering and partial exercise of underwriters&#8217; option to purchase additional ADSs.</li>
<li>Pharming Group N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHAR#NASDAQ">PHAR</a>) shares gained 10.1% to $8.30 in pre-market trading. Pharming Group will report second quarter financial results on Aug. 1.</li>
<li>Nomura Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NMR#NYSE">NMR</a>) gained 8.2% to $6.33 in pre-market trading.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) shares fell 79.9% to $12.00 in pre-market trading after dipping 23% on Monday.</li>
<li>Symbotic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) shares declined 19.5% to $28.70 in pre-market trading after the company reported worse-than-expected third-quarter earnings results and issued fourth-quarter revenue guidance below estimates.</li>
<li>Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) shares fell 14.8% to $46.82 in pre-market trading after the company reported worse-than-expected second-quarter financial results and issued weak third-quarter revenue guidance.</li>
<li>TROOPS, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TROO#NASDAQ">TROO</a>) shares fell 13.2% to $3.22  in pre-market trading.</li>
<li>Woodward, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) fell 10.5% to $164.01 in pre-market trading after the company reported mixed third-quarter financial results and lowered its FY24 revenue guidance below estimates.</li>
<li>Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) shares declined 9.6% to $14.85 in pre-market trading after declining 4% on Monday.</li>
<li>Celldex Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLDX#NASDAQ">CLDX</a>) shares fell 8.6% to $38.33 in pre-market trading after reporting Phase 2 results for barzolvolimab in chronic inducible urticaria.</li>
<li>Diageo plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>) fell 8.5% to $120.36 in pre-market trading after the company missed annual profit expectations.</li>
<li>Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>) shares dipped 7.8% to $51.50 in pre-market trading following weak quarterly sales.</li>
<li>Amkor Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>) shares fell 6.2% to $35.28 in pre-market trading after the company issued roughly in-line guidance.</li>
</ul>
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<ul>
<li><a href="https://www.benzinga.com/news/24/07/40009447/roblox-morgan-stanley-and-2-other-stocks-insiders-are-selling">Roblox, Morgan Stanley And 2 Other Stocks Insiders Are Selling</a></li>
</ul>

SERV

TROO

Why F5 Shares Are Trading Higher By Over 14%; Here Are 20 Stocks Moving Premarket

Diageo plc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>) famed for its Johnnie Walker whisky and Tanqueray gin, is bracing for its first yearly sales decline since 2020. The company has been under the radar following a profit warning last November, leading to a dip in investor confidence.
What Happened: Diageo&#8217;s U.S. market share has seen a downward trend. Analysts are predicting a 0.2% fall in net sales for the year ending June 30. The previous year&#8217;s net sales of Diageo were 17.1 billion pounds ($22 billion), Reuters reported on Monday.
Despite achieving almost 11 billion pounds ($14.13 billion) in sales during the first half of the year, analysts like Fintan Ryan at Goodbody Stockbrokers caution that the final result could be worse than consensus forecasts. Persistent issues in the U.S. and Latin America could result in a lower full-year delivery, Ryan noted.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39997974/anthony-scaramucci-tim-scott-weigh-in-ahead-of-ex-presidents-address-at-bitcoin-2024-confe?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci, Tim Scott Weigh In Ahead Of Ex-President&#8217;s Address At Bitcoin 2024 Conference: &#8216;Trump&#8217;s Move To Court Bitcoin And Towards Crypto Assets Has Shaken The Democrats At Core&#8217;</a>
Diageo&#8217;s recent struggles mirror the broader challenges the spirits industry is facing, as demand has dropped following a post-pandemic sales boom. Investors are eager to see Diageo reclaim its market share in North America, which contributes to 40% of its sales.
Moreover, Diageo has cautioned of a potential 10-20% sales drop in Latin America and the Caribbean. The company was taken by surprise by the build-up of unsold stock among wholesalers and retailers in Mexico during the first half of the year.
Why It Matters: Earlier this year, Diageo&#8217;s shares took a hit, <a href="https://www.benzinga.com/markets/equities/24/01/36840057/johnnie-walker-maker-diageo-tanks-after-missing-estimates-latin-america-woes-deepen">dropping over 3%</a> after the company reported a decline in organic net sales, missing analyst estimates. The spirits giant also warned of further challenges in Latin America, where unsold stock accumulates.
Adding to the company&#8217;s woes, American rapper Sean "Diddy" Combs and Diageo ended their <a href="https://www.benzinga.com/general/entertainment/24/01/36657562/rapper-diddy-and-diageo-part-ways-a-look-at-the-high-stakes-split-in-the-beverage-industry">long-standing partnership</a> on Cîroc vodka and DeLeón tequila earlier this year. The split followed a legal dispute in which Combs sued Diageo, alleging the company neglected the DeLeón brand in favor of its other tequila labels.
Price Action: Diageo closed at $132.43 on Friday, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39970069/investors-go-all-in-on-small-caps-pour-over-6-billion-into-russell-2000-etf-this-month-they-will?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Investors Go All In On Small Caps, Pour Over $6 Billion Into Russell 2000 ETF This Month: They &#8216;Will Return To Larger-Cap Alternatives,&#8217; Veteran Analyst Says</a></li>
</ul>
Image by pil76 via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Equities

General

Johnnie Walker Maker Diageo Faces First Annual Sales Decline Since 2020 Amid Investor Concerns And Profit Warning

Legal

New Delhi City Police Summons Diageo India CEO To Appear At Investigation Into Case Linked To Payments By Government Agencies For Liquor Purchases

Labour Party member Keir Starmer is set to become the new prime minister of the United Kingdom with <a href="https://www.benzinga.com/news/24/07/39640147/keir-starmer-to-become-uk-prime-minister-as-labour-wins-big-over-rishi-sunaks-conservatives-mohamed">a win over the Rishi Sunak-led Conservative Party.</a>
The win marks an end to 14 years of Conservative Party control in the United Kingdom. The Labour Party will also have one of the largest majority government leads in the country in 25 years, as reported by CNN.
"A mandate like this comes with a great responsibility," Starmer said Friday. 
Starmer promised to put "country first, party second" in his victory speech.
UK Stocks &amp; ETFS: Gains for United Kingdom stocks and ETFs were minimal on Friday with the results of the election potentially priced in and others dissecting what the Labour Party in control means for certain sectors.
The iShares MSCI United Kingdom ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWU#NYSE">EWU</a>) is up 0.5% on Friday. The largest U.K. ETF has $2.8 billion in assets under management and holds 80 stocks representing <a href="https://www.benzinga.com/quote/EWU/news">the largest companies in the country</a>.
The top holdings are:
AstraZeneca PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>)
Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>)
HSBC Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSBC#NYSE">HSBC</a>)
Unilever PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UL#NYSE">UL</a>)
BP PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>)
RELX PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RELX#NYSE">RELX</a>)
GlaxoSmithKline PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>)
Rio Tinto PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>)
Diageo PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>)
Glencore PLC (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GLNCY#OTC">GLNCY</a>)
Eight of the 10 largest holdings are up Friday at the time of writing, with HSBC and Rio Tinto trading lower.
The top weightings in the iShares ETF are the categories of financials (19.3%), consumer staples (16.4%) and energy (13.4%).
The Franklin FTSE United Kingdom ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLGB#NYSE">FLGB</a>) also offers exposure to the country with 107 holdings. The fund has all the same top 10 holdings as the iShares MSCI United Kingdom ETF, in a slightly different order and at smaller weightings. The ETF's largest categories are financials (19.5%), consumer staples (15.5%) and energy (14.4%).
Another ETF option is the iShares MSCI United Kingdom Small Cap ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/EWUS#BATS">EWUS</a>). The ETF holds 231 stocks and has smaller weightings for the small-cap components it holds. The top categories for the ETF are industrials (21.5%), financials (19.8%) and consumer discretionary (14.8%).
What Experts Are Saying: British private bank and wealth management company Coutts sees policy changes from the Labour Party leadership taking time to materialize.
"In terms of what this means for the U.K. population and our clients, we will closely monitor the developments of a Keir Starmer government and its potential impact on markets," Coutts Chief Investment Officer Fahad Kamal said.
Kamal said history shows U.K. elections don't tend to have a "long-term impact on markets."
The CIO said it could be "business as usual" for the United Kingdom. One item to closely monitor is falling inflation in the country and the potential for rate cuts soon, which could improve economic growth in the country, he said. 
RBC Capital analysts see the homebuilding sector in the United Kingdom benefitting with a Labour Party win, as reported by CNBC. The analysts said the new leadership and policy pledges could lead to a "new age" for homebuilding in the country.
"Over the last few years housebuilders' potential has been hamstrung, but over the next few this potential is likely to be unleashed," the RBC analysts said.
It is worth noting the iShares MSCI United Kingdom Small Cap ETF counts the real estate sector as its fourth-largest weighting at 12.3%, which could make the ETF stand out based on policy. The EWU and FLGB ETFs have 0.8% and 1.1% exposure to the real estate sector, respectively.
Allianz also sees opportunity in U.K. homebuilders with the Labour Party win and likely cuts to interest rates ahead. 
"We expect rules and regulations around planning permissions to be quickly relaxed by the incoming government," Allianz said.
Allianz also sees opportunity in U.K.-listed mining companies thanks to the electrification of the energy supply.
Citi has a preference for the FTSE 250 over the FTSE 100, preferring small to mid-cap sized companies over large caps, as reported by Investing.com.
"We see an improving balance of risks for UK SMID caps, which have underperformed, but are expected to have superior growth vs. large caps. SMID caps are also better positioned to benefit from rate cuts and a pick-up in dealmaking," Citi said.
Sectors like real estate and utilities were mentioned positively by Citi in the post-election comments.
Related Link:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39636949/british-pound-european-stocks-surge-ahead-of-uk-election-results-bitcoin-plummets-w">British Pound, European Stocks Surge Ahead Of UK Election Results; Bitcoin Plummets: What&#8217;s Driving Markets Thursday?</a></li>
</ul>
Photo via Shutterstock.

Specialty ETFs

Politics

Global

ETFs

EWUS

FLGB

GLNCY

HSBC

RELX

SHEL

United Kingdom Stocks, ETFs To Watch After Keir Starmer, Labour Party Win

Citigroup analyst Simon Hales upgrades Diageo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>) from Neutral to Buy.

Upgrades

Citigroup Upgrades Diageo to Buy

Diageo plc&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/deo#NYSE">DEO</a>) focus on improving productivity coupled with its diversified footprint, a solid portfolio of brands, innovation and marketing investments, and pricing initiatives, appear encouraging. In the latest development, the company revealed that it has established a model for Guinness in Nigeria by entering into a long-term partnership with a leading manufacturing, marketing and distribution conglomerate, Tolaram, to drive growth and sell its shareholding in Guinness Nigeria PLC. This transaction is likely to conclude in fiscal 2025, subject to the satisfaction of a few conditions, including the regulatory approvals in Nigeria.
<h3>Details of the Alliance</h3>
Per the terms of this alliance, Tolaram will buy Diageo&#39;s 58.02% shareholding in Guinness Nigeria PLC, which is listed on the Nigerian Stock Exchange, for a share price of 81.60 NGN per share. Boasting a 50-year presence in Nigeria, Tolaram has extensive operations in the region and is quite a popular consumer packaged goods company. 
However, Diageo will retain the ownership of the Guinness brand, which will be licensed to Guinness Nigeria for the long term, thereby empowering its growth and development in the country under Tolaram&#39;s stewardship. The company will also remain in the country via its completely owned international premium spirits business to cater to a wider geographic reach in West Africa, with Nigeria being among the key operational hub. After the completion of this transaction, Guinness Nigeria will remain listed on the Nigerian Stock Exchange while Tolaram plans to launch a mandatory takeover offer in compliance with the local law requirements.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/29/68785.jpg?v=1146961652" /> 
Image Source: Zacks Investment Research
Notably, the aforesaid transaction is consistent with Diageo&#39;s asset-light beer operating model. This model enables the selection of the most suitable structure and route to market for Guinness while retaining ownership of the iconic Guinness brand. The company will continue driving the brand and marketing strategy of Guinness in Nigeria. 
This new structure for Nigeria further emphasizes Diageo&#39;s active portfolio management and development of an efficient operating model in West Africa to deliver sustainable growth. We note that the aforesaid transaction follows its announcement in October 2023 of a fully-owned spirits company.
<h3>How is Diageo Poised?</h3>
Diageo is progressing well in its new productivity commitment to deliver $2 billion of productivity savings over the three years from fiscal 2025 to fiscal 2027. This Zacks Rank #3 (Hold) company expects to deliver this accelerated productivity commitment across the cost of goods, marketing spending and overheads. It plans to support this acceleration through investments, including its supply-chain agility program announced in July 2022. 
However, the company has been witnessing soft trends in its operations in Latin America and the Caribbean, which contributes 10% to its net sales. The fast-changing consumer sentiment and high inventory levels have been significantly impacting the total business performance in the LAC region. Year to date, Diageo&#39;s shares have lost 7.5% compared with the industry&#39;s 10.8% decline.
<h3>Stocks to Consider</h3>
Vital Farms Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vitl#NASDAQ">VITL</a>) offers a range of produced pasture-raised foods. It currently sports a Zacks Rank #1 (Strong Buy). VITL has a trailing four-quarter average earnings surprise of 102.1%. 
The Zacks Consensus Estimate for Vital Farms&#39; current financial-year sales and earnings per share indicates growth of 22.5% and 59.3%, respectively, from the year-ago reported numbers. 
Freshpet (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frpt#NASDAQ">FRPT</a>), which is a pet food company, currently sports a Zacks Rank of 1. FRPT has a trailing four-quarter earnings surprise of 118.2%, on average. 
The consensus estimate for Freshpet&#39;s current fiscal year sales and EPS indicates growth of 24.8% and 177.1%, respectively, from the year-ago reported numbers. 
Utz Brands Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/utz#NYSE">UTZ</a>), which manufactures a diverse portfolio of salty snacks, currently carries a Zacks Rank #2 (Buy). UTZ has a trailing four-quarter earnings surprise of 2%, on average. 
The Zacks Consensus Estimate for Utz Brands&#39; current financial-year EPS indicates growth of 26.3% from the year-ago reported numbers.
<a href="https://www.zacks.com/stock/news/2287949/diageo-deo-tolaram-alliance-to-aid-growth-in-guinness-nigeria?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2287949">To read this article on Zacks.com click here.</a>

Small Cap

FRPT

VITL

Diageo, Tolaram Alliance to Aid Growth in Guinness Nigeria

Coca-Cola Europacific Partners (CCEP) today announces the resignation of Nik Jhangiani, SVP and Chief Financial Officer (CFO) with a search for his successor well underway,
Diageo plc &nbsp;announces that Nik Jhangiani will join the company as Chief Financial Officer, taking up the position and joining Diageo&#39;s Board and Executive Committee in Autumn 2024. Lavanya Chandrashekar will step down from the Executive Committee and Board at the same time after three years as Chief Financial Officer and six years with the company, and will return to the US.

Management

Coca-Cola European Partners plc Ordinary Shares

CCEP

Coca-Cola Europacific Partners CFO Nik Jhangiani Steps Down, Set To Join Diageo As CFO

WIIM

COTY

Shares of consumer staples stocks are trading lower amid overall market weakness following mixed inflation data this week, which has impacted stocks across sectors.

Actor Ryan Reynolds may be best known for his role in movies like the "Deadpool" franchise, which has its third movie <a href="https://www.benzinga.com/general/entertainment/24/02/37147153/deadpool-3-trailer-breaks-records-thanks-to-super-bowl-could-the-movie-become-highest-gross">coming out this year.</a>
The actor is also becoming increasingly known for his investing and entrepreneurship thanks to a series of billion-dollar companies.
What Happened: A thread on X, formerly known as Twitter, about <a href="https://www.benzinga.com/topic/ryan-reynolds">Ryan Reynolds</a> highlights that he may be the "GOD of billion dollar brands."
The <a href="https://twitter.com/timjcarden/status/1772277477424971807?s=20">thread </a>by Tim Carden has over five million views and points to several commonalities among the companies that are owned or were sold by Reynolds.
Carden said Reynolds looks for opportunities and when he makes an investment or deal he actively markets the business himself and oftentimes "becomes the face of the brand." Reynolds also helps in the creative process of making ads about products.
"When Ryan sees a viable opportunity, he takes it," Carden said.
An example is Aviation Gin, which Reynolds tasted and fell in love. His love for the brand led to an investment and the actor became the face of the brand. Aviation Gin was later sold to alcohol giant Diageo PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>), netting a nice return for the actor.
"While many celebrities just pump money and sit back, Ryan is in the driver's seat."
Another example highlighted by Carden is the marketing company Maximum Effort, which has helped with ads for the Deadpool movies, which the company is co-producing with Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>).
"Ryan knows that as an actor, his strengths are in front of a camera — and he plays to his strengths."
Related Link: <a href="http://Did Ryan Reynolds Cause A 10% Jump In This Streaming Company's Stock?">Reynolds, Maximum Effort Partner With FuboTV </a>
Why It's Important: Carden said Reynolds knows how to perfectly capitalize on trends and use his talents after recognizing the trend.
Reynolds<a href="https://www.benzinga.com/general/entertainment/24/01/36875148/formula-one-rejects-andretti-general-motors-team-bid-what-this-could-mean-for-us-growth-esp"> recently invested in </a>a Liberty Media Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWONA#NASDAQ">FWONA</a>) Formula 1 motor racing team, which comes as the valuation of teams in the sport is rising.
The actor also owns a soccer team and was <a href="https://www.benzinga.com/general/entertainment/23/05/32174242/ryan-reynolds-senators-bid-may-be-dropped-like-its-hot-as-snoop-steps-up-in-next-episode-of">among the bidders</a> for the National Hockey League's Ottawa Senators.
"Ryan Reynolds is more than just an actor. He is also a savvy serial businessman who knows a thing or two about building a billion-dollar brand. He hunts for opportunities, gets personally involved in marketing the business, injects his personal brand, and is always on the move," Carden said.
Along with Aviation Gin getting bought out, another Reynolds investment recently saw a buyout. Mint Mobile was purchased by T-Mobile US (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>).
Like Aviation Gin, Reynolds starred in ads for the company after he invested.
The ownership of Maximum Effort helps Reynolds quickly make ads for companies he invests in and for movies he stars in. The combination leads to Reynolds easily recognizable as an investor or the face of a product.
Read Next: <a href="https://www.benzinga.com/startups/23/09/34874911/ryan-reynolds-sells-2-companies-for-nearly-2-billion-in-less-than-4-years-and-says-you-cant-be-good">Ryan Reynolds Sold 2 Companies For Nearly $2 Billion In Less Than 4 Years But Has No Problem Admitting He Doesn&#8217;t Have All The Answers — Loves Saying &#8216;I Don&#8217;t Know&#8217;</a>
Photo: Shutterstock

How Ryan Reynolds Builds Billion Dollar Companies

Diageo today announces that current non-executive director Sir John Manzoni will be appointed Chair of the Board on or around 5 February 2025 when current Chair Javier Ferr&aacute;n retires from the Board.
Sir John Manzoni joined the Diageo Board in October 2020, having been Chief Executive of the UK Civil Service from 2014 to 2020. He is currently Chair of FTSE-listed multinational energy business SSE plc and a non-executive director of engineering and technology business KBR, Inc. He was previously a non-executive director of the multinational drinks company SAB Miller plc for 11 years from 2004 to 2015. Earlier in his career John served as President and Chief Executive Officer of Talisman Energy, and held a number of senior executive roles at BP plc.
Javier Ferr&aacute;n joined the Diageo Board in July 2016 and was appointed Chair on 1 January 2017.

Diageo Plc to Tap Sir John Manzoni as Chairman by February 5, 2025 When Current Chair Javier Ferrán Retires from the Board

In a recent development, the shares of Diageo Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>) have taken a hit, dropping over 3%. This comes after the company, known for its Johnnie Walker whisky and Tanqueray gin, reported a decline in organic net sales, missing analyst estimates. The spirits giant also warned of further challenges in Latin America, where unsold stock accumulates.
What Happened: Diageo&#8217;s shares fell by over 3% on Tuesday, following the company&#8217;s warning of additional difficulties in Latin America, Reuters reported. This announcement has compounded investor concerns about the accumulation of unsold stock in the region, which may prove challenging to clear.
The company&#8217;s organic net sales experienced a slight decline, just missing analyst estimates. Diageo also noted a decrease in its largest market, North America, where it has been losing market share.
See Also: <a href="https://www.benzinga.com/markets/equities/24/01/36814939/if-you-invested-1000-in-apple-when-the-ipad-was-launched-14-years-ago-heres-how-much-youd-have-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Invested $1000 In Apple When The iPad Was Launched 14 Years Ago, Here&#8217;s How Much You&#8217;d Have Today</a>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/01/30060648/newplot-5-1.jpeg" alt="" class="wp-image-198229" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/01/30060648/newplot-5-1.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/01/30060648/newplot-5-1-300x208.jpeg 300w" sizes="(max-width: 650px) 100vw, 650px" /></figure>
Diageo&#8217;s CEO, Debra Crew, expressed dissatisfaction with the results and her determination to maximize the company&#8217;s potential. The company had previously warned of a sales decline of over 20% in Latin America and the Caribbean. The actual decline reported on Tuesday was 23%, with an expected further decrease of 10%-20% in the year&#8217;s second half.
Why It Matters: The recent troubles in Latin America add to a series of challenges faced by Diageo. In December, the company was reported to be <a href="https://www.benzinga.com/markets/equities/23/12/36108265/spirits-giant-diageo-looking-to-sell-its-beer-portfolio-report">considering the sale of its beer portfolio</a>, excluding its flagship brand, Guinness, due to the portfolio&#8217;s negative impact on the company&#8217;s margins. 
Then in January, the company&#8217;s partnership with American rapper Sean "Diddy" Combs came to an end after a <a href="https://www.benzinga.com/general/entertainment/24/01/36657562/rapper-diddy-and-diageo-part-ways-a-look-at-the-high-stakes-split-in-the-beverage-industry">legal dispute over the neglect</a> of the DeLeón brand in favor of other tequila labels.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36821449/doge-is-gonna-pop-crypto-analyst-predicts-dogecoin-on-the-verge-of-a-price-jump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;DOGE Is Gonna Pop:&#8217; Crypto Analyst Predicts Dogecoin On The Verge Of A Price Jump</a>
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Johnnie Walker Maker Diageo Tanks After Missing Estimates, Latin America Woes Deepen

U.S. stock futures were lower this morning, with the Dow futures falling around 50 points on Tuesday.
Shares of Calix, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/calx#NYSE">CALX</a>) fell sharply in pre-market trading after the company issued first-quarter adjusted EPS and revenue <a href="https://www.benzinga.com/quote/CALX/earnings">guidance below estimates</a>.
Calix said it sees first-quarter adjusted earnings of 17 cents to 23 cents per share, versus analysts&rsquo; estimates of 38 cents per share. It expects revenue of $225 million to $231 million, versus expectations of $267.57 million, according to data from <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Calix shares dipped 25.4% to $33.03 in pre-market trading.
Here are some big stocks recording losses in today&rsquo;s pre-market trading session.
<ul>
<li>Nyxoah S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nyxh#NASDAQ">NYXH</a>) shares dipped 22.4% to $9.58 in pre-market trading after surging 31% on Monday.</li>
<li>Borr Drilling Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/borr#NYSE">BORR</a>) shares fell 8.9% to $6.72 in pre-market trading.</li>
<li>PDD Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pdd#NASDAQ">PDD</a>) shares slipped 4.8% to $123.95 in pre-market trading after dipping over 8% on Monday.</li>
<li>MINISO Group Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mnso#NYSE">MNSO</a>) shares declined 4.6% to $16.85 in pre-market trading after dipping over 10% on Monday.</li>
<li>Valaris Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/val#NYSE">VAL</a>) shares fell 4.6% to $65.35 in pre-market trading.</li>
<li>BrightSpring Health Services, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btsg#NASDAQ">BTSG</a>) shares declined 4.3% to $10.11 in pre-market trading following a 4% fall on Monday.</li>
<li>J-Long Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jl#NASDAQ">JL</a>) shares declined 4.1% to $10.90 in pre-market trading after gaining 13% on Monday. J-Long Group&rsquo;s began trading on the Nasdaq Global Market on Jan. 24. The company announced the closing of its initial public offering of 1,400,000 ordinary shares at a public offering price of $5.00 per share and listed the aggregate gross proceeds from the offering at $7 million.</li>
<li>Diageo plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/deo#NYSE">DEO</a>) shares fell 3.2% to $139.90 in pre-market trading as the company reported a decline in profit for the first half of fiscal 2024.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/01/36838488/investor-optimism-improves-slightly-ahead-of-big-earnings-feds-policy-decision"> Investor Optimism Improves Slightly Ahead Of Big Earnings, Fed&#39;s Policy Decision</a>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>

BORR

BTSG

CALX

MNSO

NYXH

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Calix Issues Weak Q1 Forecast, Joins Diageo And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

Diageo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>) reported quarterly earnings of $1.08 per share. This is a 7.13 percent decrease over earnings of $1.16 per share from the same period last year. The company reported $10.96 billion in sales this quarter. This is a 1.42 percent decrease over sales of $11.12 billion the same period last year.

Diageo H1 Adjusted EPS $1.08 Down From $1.16 YoY, Sales $10.96B Down From $11.12B YoY

Country Music Hall of Famer Dolly Parton has a new line of <a href="https://www.benzinga.com/topic/food">breakfast products</a>.
What Happened: The &quot;Jolene&quot; singer made the <a href="https://www.today.com/food/groceries/dolly-parton-breakfast-baking-mixes-rcna135079">announcement Tuesday, on The Today Show.</a>
The line, part of a partnership with Duncan Hines and its parent company, American food conglomerate Conagra Brands Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cag#NYSE">CAG</a>), will include a variety of mixes: buttermilk, blueberry muffin, chocolate cake and more.
Parton and Duncan Hines first teamed up in 2022 to release her line of baking mixes, and are now looking to challenge morning staples like General Mills&rsquo; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gis#NYSE">GIS</a>) Bisquick and Pepsi Co&rsquo;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pep#NYSE">PEP</a>) Pearl Milling Co pancake mix (formerly known as Aunt Jemima).
Parton, who was inducted into the Rock &amp; Roll Hall of Fame in 2023, is just the latest celebrity to back consumer goods like food and apparel.
See Also: <a href="https://www.benzinga.com/general/entertainment/23/03/31385565/dolly-parton-isnt-working-9-5-shes-up-before-the-light-of-the-clear-blue-morning">Dolly Parton Isn&#39;t Working 9-5, She&#39;s Up Before The Light Of The Clear Blue Morning</a>
Why It Matters: Over the years, Parton has launched several successful business ventures separate from her singing career.
In 1986, the &quot;9 to 5&quot; star bought Dollywood, a Smokey Mountain theme park in Pidgeon Forge, Tennessee. It reportedly entertains about two million guests each year.
Parton also owns a dinner theater called Dolly Parton&rsquo;s Stampede, which features immersive live entertainment and southern foods. And in 2015, she opened DreamMore Resort, a southern-inspired family resort.
Celebrities teaming up with companies to come out with branded products is nothing new. Notable examples include Ryan Reynolds&rsquo; partnership with American Aviation Gin and Roger Federer&rsquo;s investment in On Holding AG (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/onon#NYSE">ONON</a>).
Other famous examples include George Foreman&rsquo;s miniature grills and Paul Newman&rsquo;s Own salad dressings. But recently, some of these stars have been cashing in big time on their equity of growing brands, as opposed to simply just taking a check to endorse or be tied to a product.
Reynolds and his business partners sold Aviation Gin to Diageo plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/deo#NYSE">DEO</a>) for more than $600 million, reportedly netting more than $100 million on the deal himself. Meanwhile, tennis legend Federer owns somewhere around 3% of On Cloud running shoes, with his equity in the company surpassing $150 million when the company went public in 2021, <a href="https://www.forbes.com/sites/mattcraig/2023/09/03/roger-federer-backed-shoe-brand-on-takes-a-big-swing-at-tennis/">according to Forbes.</a>
Kim Kardashian is set to make hundreds of millions more when Skims, the shapewear company she co-founded, goes public later this year. Kardashian&rsquo;s half-sister, Kylie Jenner, built her cosmetics to a billion-dollar venture, according to Forbes.
The playbook for starting a successful business and product line in 2024 is out there. You just have to be rich and a celebrity first &mdash; the rest is easy.&nbsp;&nbsp;
Now Read:<a href="https://www.benzinga.com/news/24/01/36665702/exclusive-the-next-big-ipo-it-could-be-kim-kardashian-backed-shapewear-company-says-expert">&nbsp;EXCLUSIVE - The Next Big IPO? It Could Be Kim Kardashian-Backed Shapewear Company, Says Expert</a>
Image: Shutterstock

Restaurants

ONON

Dolly Parton Cooks Up Pancake Partnership With Conagra, Looks To Challenge Pearl Milling

At the end of trading on Dec.15, Diageo plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>) stock closed at $142.85. The 52-week price range for Diageo was $135.63 to $190.02.
On Aug. 3, the London-based alcoholic beverage company filed its <a href="https://media.diageo.com/diageo-corporate-media/media/p1bljst1/diageo-annual-report-2023.pdf">annual report</a> for the fiscal year ending June 30. Dividends declared for the final quarter and the fiscal year were 5% higher compared to the dividends for the final quarter of 2022 and the entire preceding fiscal year. An Oct. 9 <a href="https://www.diageo.com/en/news-and-media/press-releases/2023/diageo-plc-publishes-re-presented-us-dollar-financial-information">press release</a> disclosed that the interim dividend for the fiscal year ending in June 2024 is expected to be declared in January.
The company's annualized dividend is approximately $3.08 with a forward-looking yield of 2.7%.
Read Next:&nbsp;
<ul>
<li>Jeff Bezos called the meteoric success of this real estate investing strategy early on. He bet millions on the growth of fractional investing, and<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> you can get in on the action with as little as $100.</a></li>
<li>While offices have been getting emptier, <a href="https://www.benzinga.com/real-estate/23/09/34626099/one-cre-sector-saw-a-288-spike-in-occupancy-over-the-last-10-years-heres-the-easiest-way-to-invest-i">this underrated commercial real estate sector saw a 288% spike in occupancy and you can invest in it</a>.</li>
</ul>
<h2 class="wp-block-heading">How Can You Earn $1,000 Per Month As A Diageo Investor?</h2>
If you want to generate an income of $1,000 per month — $12,000 annually — from Diageo's dividends, your estimated investment value would be approximately $444,444, which is around 3,111 shares at $142.85 each. If your earnings target is $200 per month, your estimated investment falls to $88,889 for 622 shares.
Using dividend yields to calculate an estimated investment value: You can calculate your estimated investment value using two variables: the desired annual earnings target of $12,000 or $2,400 and the dividend yield of the stock, which is 2.7% in this case. So, $12,000 / 0.027 = $444,444 to earn an income of $1,000 per month, and $2,400 / 0.027 = $88,889 for $200 per month.&nbsp;
Movements in the stock's price and changes in the company's dividend policy affect the dividend yield. If the stock price remains fixed, there is a positive correlation between the yield and the payout. That is, dividend yield will increase when the company increases the payout and vice versa.&nbsp;
Assume a stock that pays $2 as an annual dividend is priced at $50. Its dividend yield would be $2 / $50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2 / $60). A drop in stock price to $40 will have an inverse effect and increase the dividend yield to 5% ($2 / $40).
Disclaimer: Since Diageo was first listed on the London Stock Exchange with the symbol DGE in 1997, the company continued filing its annual report in sterling. On Sept. 28, the company adopted new Articles of Association to <a href="https://media.diageo.com/diageo-corporate-media/media/sasnxdir/re-presented-us-dollar-financial-information-9-oct-2023.pdf">change its currency from Sterling to U.S. dollars</a>. All future dividends will be declared in U.S. dollars. Its currency for financial reporting, starting July 1, 2023, will be in U.S. dollars.
The above estimations and calculations are according to the stock price on Dec. 15 using an annualized dividend. The price of Diageo stock at the end of trading hours on Dec. 22 was $145.28.

REIT

Real Estate

How To Earn $1,000 Per Month From Diageo Stock

American rapper&nbsp;Sean &#8220;Diddy&#8221; Combs&nbsp;and global beverage giant&nbsp;Diageo plc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>) have&nbsp;<a target="_blank" href="https://www.diageo.com/en/news-and-media/press-releases/2024/diageo-announces-settlement-of-disputes-with-sean-combs-and-sole-ownership-of-deleon-tequila" rel="noreferrer noopener">officially&nbsp;</a>parted ways, ending their long-standing partnership on Cîroc vodka and DeLeón tequila.&nbsp;
The joint statement from Combs and Diageo confirmed that Diageo now holds complete ownership of DeLeón.
This decision comes after a legal dispute that surfaced in May, when Combs sued Diageo, claiming the company neglected the DeLeón brand in favor of its other tequila labels,&nbsp;<a target="_blank" href="https://www.wsj.com/business/retail/diageo-settles-disputes-with-rapper-diddy-939ed63c?mod=retail_news_article_pos1" rel="noreferrer noopener">reported&nbsp;</a>WSJ.
The dissolution of their partnership marks the end of a significant chapter in the spirits industry.
The specifics of the financial settlement remain undisclosed, but Combs has agreed to drop all allegations.
The report said Combs had accused Diageo of racial discrimination, alleging that the company had pigeonholed DeLeón as &#8220;urban&#8221; and described it as a &#8220;Black brand.&#8221;
Combs&#8217; collaboration with Diageo began in 2007 with Cîroc vodka, where he played a pivotal role in the brand&#8217;s marketing and product development, as per the report.
Diageo, which also produces renowned brands like Johnnie Walker and Guinness, had reportedly stated in June 2023 that the partnership was ending due to contract breaches by Combs.
Over the years, Combs received nearly $1 billion from his association with Diageo, a figure highlighted in the company&#8217;s court filings, according to the report.
Price Action: DEO shares closed lower by 0.96% at $141.75 on Tuesday.
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

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