Mondelez International Stock (NASDAQ: MDLZ)

Mondelez International Stock (NASDAQ:MDLZ), Trade Ideas

Mondelez International

Mondelez has operated as an independent organization since its split from the former Kraft Foods North American grocery business in October 2012. The firm is a leading player in the global snack arena with a presence in the biscuit (49% of sales), chocolate (30%), gum/candy (12%), beverage (3%), and cheese and grocery (6%) aisles, as of the end of fiscal 2023. Mondelez's portfolio includes well-known brands like Oreo, Chips Ahoy, Halls, and Cadbury, among others. The firm derives around one third of revenue from developing markets, just more than one third from Europe, and the remainder from North America.

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As cocoa prices surge, Hershey Co and Mondelez reportedly pivot Easter promotions towards non-chocolate treats, mitigating profit pressures. With cocoa prices tripling due to West African bean disease, companies focus on holiday sales to offset inflation-driven consumer reluctance, stressing the significance of Easter in confection sales.

Cocoa Cost Crunch: Chocolate Giants Hershey, Mondelez Reportedly Shift Easter Focus To Sweeten Profits

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The chocolate industry looks a bit hairy in the run-up to Easter. In just 50 days, the price of cocoa doubled.

Hershey &#39;Shrinkflation&#39;: Chocolate Makers&#39; Cost Chaos As Cocoa Reaches $10,000 Per Metric Ton

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Microplastics are small plastic fragments found everywhere and can cause harm to human health. Boiling and filtering tap water can reduce them by 90%.

Boiling Water Reduces Microplastics: What Does It Mean For Coca-Cola, PepsiCo&#39;s Bottled Water Brands?

Mondelez International, Inc. - Class A Common Stock

Mondelez International Inc

JP Morgan analyst Ken Goldman maintains Mondelez International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>) with a Overweight and lowers the price target from $82 to $76.

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JP Morgan Maintains Overweight on Mondelez International, Lowers Price Target to $76

Barclays analyst Andrew Lazar maintains Mondelez International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>) with a Overweight and lowers the price target from $84 to $80.

Barclays Maintains Overweight on Mondelez International, Lowers Price Target to $80

Citigroup analyst Mark Palmer maintains Mondelez International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>) with a Buy and lowers the price target from $87 to $84.

Citigroup Maintains Buy on Mondelez International, Lowers Price Target to $84

Mondelez International's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NYSE">MDLZ</a>) short percent of float has fallen 6.35% since its last report. The company recently reported that it has 15.93 million shares sold short, which is 1.18% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.24 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Mondelez International Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1711657808_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Mondelez International has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Mondelez International's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Mondelez International's peer group average for short interest as a percentage of float is 4.30%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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(MDLZ) - Analyzing Mondelez International's Short Interest

Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), Mondelez International Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>), and other confection-makers are reportedly adapting strategies to mitigate the impact of soaring cocoa prices on their profits ahead of Easter.
Promotions are pivoting towards non-chocolate treats amid escalating cocoa costs, according to a report from Reuters.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com//node/37934123" rel="noreferrer noopener">Hershey &#8216;Shrinkflation&#8217;: Chocolate Makers&#8217; Cost Chaos As Cocoa Reaches $10,000 Per Metric Ton</a>
With cocoa prices tripling in the past year due to bean disease in West Africa, companies like Hershey and Mondelez are focusing on Easter sales to offset profit pressures.
Rising inflation prompts consumer reluctance, emphasizing the importance of holiday sales for confection-makers.
Easter sales in the U.S., the largest chocolate market, are forecasted to maintain last year&#8217;s level, fueled mainly by price hikes rather than increased volumes sold, Reuters cited the National Confectioners Association.
The report further quoted David Branch from Wells Fargo Agri-Food Institute, who emphasized the impact of consumer behavior shifts, with holiday purchases compensating for reduced impulse buying throughout the year.
Despite challenges, Hershey remains optimistic, attributing consistent Easter sales to the preservation of traditions like chocolate bunnies and egg hunts.
Also, Mondelez reportedly eyes upscale Easter offerings targeting families willing to splurge on premium chocolate amid rising prices.
Price Action: HSY shares are trading flat at $192.26 on the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

The chocolate industry looks a bit hairy in the run-up to Easter — a particularly choc-heavy holiday.
What Happened: Cocoa broke through a milestone, pushing for the first time through the $10,000 per metric ton level.
That means, in just 50 days, the price of cocoa has doubled.
Candy producer Hershey Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) has already said it expects historically high cocoa prices to limit earnings growth this year, but that was more than a month ago. 
This is a rise even more meteoric than that of Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37544925/apple-vs-nvidia-only-one-added-1-trillion-in-67-days-as-battle-for-mega-cap-dominan">added $1 trillion to its market cap</a> in the first 67 days of 2024.
On Monday, Feb. 5, the beginning of the week of Hershey&#8217;s fourth-quarter earnings report, U.S. Cocoa Futures opened at $5,035 per metric ton (tonne). This was already a record high following seven consecutive sessions of gains, and the price was already up 24% since the start of the year.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/26080552/newplot-2024-03-26T120537.785.png" alt="" class="wp-image-265444" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/26080552/newplot-2024-03-26T120537.785.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/26080552/newplot-2024-03-26T120537.785-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Also Read: <a href="https://www.benzinga.com/markets/equities/24/02/37394501/is-my-candy-bar-getting-smaller-yes-a-chocolate-crisis-means-smaller-pricier-hersheys">Is My Candy Bar Getting Smaller? Yes, A Chocolate Crisis Means Smaller, Pricier Hershey&#8217;s</a>
<h2 class="wp-block-heading">Weather And Disease Hit Crops</h2>
"Recent heatwaves and extreme weather events in West Africa, where the vast majority of cocoa is produced, have severely impacted cocoa crops, leading to shortages and soaring prices,&#8221; said Simon Geale, at supply chain industry company Proxima, <a href="https://www.confectioneryproduction.com/news/47568/easter-chocolate-shortages-warning-as-price-rises-bite-over-cocoa-supply-challenges/">speaking</a> to Confectionary Production. 
&#8220;This is unwelcome news in the run-up to Easter,&#8221; he added, &#8220;as these challenges will inevitably trickle down to consumers. We've already witnessed chocolate makers increasing prices in response to rising cocoa costs. This year, consumers may notice smaller Easter eggs or a shift towards more premium-priced products on the shelves.&#8221;
Recent heatwaves and extreme weather, don&#8217;t explain it all, however. 
West African crops have also been exposed to disease which makes them less productive. And these aren&#8217;t problems that can be dealt with simply by chucking on more pesticides.
West African cocoa farmers, from decades of profiteering by governments and commodity merchants, are also extremely poor. They&#8217;ve nothing left over from annual sales of their crops to reinvest in new plantings. And it is these aging cocoa plants that are more susceptible to disease and weather extremes.
Commodity analysts are now forecasting an ever-growing likelihood of a cocoa market deficit this year — meaning supply will be unable to meet demand. 
Warren Patterson suspects a supply deficit of 374,000 tonnes, based on International Cocoa Organization data. &#8220;This would be higher than the deficit of 74,000 tonnes seen last year,&#8221; Patterson said.
Meanwhile, chocolate producers such as Hershey and Mondelez International Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>) have issued warnings about the risk to their bottom lines. Shares in both companies have fallen slightly in the past three months.
<h2 class="wp-block-heading">Shrinkflation For Consumers</h2>
Consumer prices for chocolate products are rising and pack sizes are getting smaller — &#8220;shrinkflation&#8221; according to Bloomberg&#8217;s commodity columnist Javier Blas.
Blas <a href="https://twitter.com/JavierBlas/status/1772590152050749743">posted</a> on X on Monday: &#8220;In nominal terms, cocoa prices have surged to $10,000 — up from around $2,500 a year ago, and around $650 a decade ago. To put things into perspective: the previous record, which only fell in February after 46 years unbroken, was around $5,500.&#8221;
But putting things in further perspective, at least consumers aren&#8217;t dealing with levels seen during the 1970s — the days of oil crises and almost hyperinflation.
Blas noted: &#8220;In real terms, adjusted by the cumulative impact of inflation, cocoa is still trading well below the peak set in the 1970s. The record high established 46 years ago equals to $27,000 a ton in today's money.&#8221;
Benzinga reached out to both Hershey and Mondelez for comment, but had received no reply at time of publish. We&#8217;ll update if comment is received.
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37900275/agriculture-commodities-rise-to-9-year-highs-cocoa-prices-skyrocket-chocolate-lover">Agriculture Commodities Rise To 9-Year Highs, Cocoa Prices Skyrocket: Chocolate Lovers Brace For Hyperinflation</a>
Image: <a href="https://pixabay.com/users/efraimstochter-12351/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=708149">M W</a> from <a href="https://pixabay.com//?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=708149">Pixabay</a>

Hershey 'Shrinkflation': Chocolate Makers' Cost Chaos As Cocoa Reaches $10,000 Per Metric Ton

'African Cocoa Plants Run Out Of Beans As Global Chocolate Crisis Deepens'

Mondelez International's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NYSE">MDLZ</a>) short percent of float has fallen 6.35% since its last report. The company recently reported that it has 15.93 million shares sold short, which is 1.18% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.24 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Mondelez International Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1709563516_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Mondelez International has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Mondelez International's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Mondelez International's peer group average for short interest as a percentage of float is 5.14%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Looking Into Mondelez International's Recent Short Interest

The understudied threat of microplastics has become a major source of concern for large <a href="https://www.benzinga.com/topic/population">sectors of the population.</a>
While scientists have not yet identified the exact consequences of living around microscopic pieces of plastic, their presence <a href="https://www.benzinga.com/news/24/01/36575819/bottled-water-contains-far-more-plastic-particles-but-it-is-not-totally-unexpected-study-reveals">has been found in everything from drinking water</a> to human tissue to the air we breathe.
According to a new study, an everyday solution could help get rid of as much as 90% of microplastics in tap water by simply boiling and filtering it.
<h3 class="wp-block-heading">Microplastics: An Invisible Threat</h3>
The term &#8220;microplastics&#8221; refers to small plastic fragments smaller than 5mm, found as contaminants in urban and natural environments. 
They come from multiple sources including plastics already produced in those sizes, like synthetic fibers of clothing or microbeads included in cosmetic products, or they can appear as a result of the degradation of larger plastic products, such as single-use plastic containers like soda bottles and plastic bags.
Nanoplastics, the tiniest fragments, measure as small as one millionth of a meter.
Public concern about microplastics has grown in recent years after several studies have found them in almost every inch of the world around us.
In 2022, a study from the Netherlands detected microplastics in the blood of 80% of sampled individuals from the general population, and another study from the same year discovered microplastics in living heart tissue.
A few months ago, a study from Shandong University in China found them in the clouds above East China.
Microplastics are especially present in drinking water. A 2018 study found them in 93% of bottled water from nine different countries, and a recent review highlighted their detection in tap water from a wide range of countries, including the U.S., Germany, Mexico, France, China, Japan, Saudi Arabia, and Norway.
Also read: <a href="https://www.benzinga.com/news/23/06/32863902/the-end-of-the-plastic-era-world-delegates-forge-ahead-with-draft-plastics-treaty-to-shape-a-greener">The End Of The Plastic Era? World Delegates Forge Ahead With Draft Plastics Treaty To Shape A Greener World</a>
<h3 class="wp-block-heading">Are Microplastics Harmful?</h3>
While the health effects of microplastics exposure are still being researched, several studies have raised red flags about the ubiquitous presence of these particles in daily life. Their health consequences can vary along different variables, which include the type of plastic, the size of the particles, whether they were inhaled, ingested or touched and the length of exposure.
Microplastics have been linked to negative health impacts, including cellular damage and problems within the gastrointestinal and respiratory systems.
According to a WHO report, microplastics can be harmful to the body not only by themselves, but they can also serve as "vectors of pathogens," providing ways for microbes to enter the organism. They can also worsen symptoms of pre-existing conditions like asthma and chronic obstructive pulmonary disease.
While the overall consensus among scientists is that more research is needed to better understand the health impact of microplastics, it's advised to avoid prolonged exposure to foreign particles as there is no precedent in history to understand what happens to a human body that undergoes daily exposure to small plastic particles from the time of birth.
<h3 class="wp-block-heading">Is Boiling Drinking Water The Solution?</h3>
A study published this week in the Environmental Science &amp; Technology journal found that boiling drinking water can reduce at least 80% of polystyrene, polyethylene, and polypropylene, the most commonly-found types of nano/microplastics.
The team of researchers, from Guangzhou Medical University and Jinan University in China, set out to find ways in which regular people could reduce their daily exposure to microplastics using household methods.
The method was more effective for certain types of tap water. Water supplies from around the globe vary in their chemical composition. In waters that are rich in minerals like calcium or magnesium, the boiling process causes these minerals to trap the plastics into a solid, chalky residue that can be removed by filtering the water.
In waters that were rich in these minerals, the process helped capture up to 90% of the microplastic particles. Yet in those samples that carried fewer amounts of the minerals, only about 25% was removed.
For those wanting to try the method at home, the water should be left to cool and settle after boiling without stirring for about 10 minutes and then filtered with a regular coffee filter.
The researchers wrote in the study that boiling drinking water is a tradition in East Asian countries as it helps get rid of some chemicals and most microbes living in the water.
<h3 class="wp-block-heading">Stocks To Watch</h3>
<ul>
<li>Public companies involved in the sale of bottled water include Coca-Cola Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), PepsiCo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>), Primo Water Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRMW#NYSE">PRMW</a>) and Ambev SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABEV#NYSE">ABEV</a>) and Primo Water Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRMW#NASDAQ">PRMW</a>).</li>
<li>Coca-Cola, PepsiCo, Nestle SA &#8211; ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NSRGY#OTC">NSRGY</a>), MONDELEZ INTERNATIONAL INC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>), Unilever plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UL#NYSE">UL</a>), Procter &amp; Gamble Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) and Colgate-Palmolive Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>) were ranked among the top plastic polluters of 2022 by the Break Free From Plastic Global Brand Audit.</li>
<li>Some of the largest running water providers include American Water Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AWK#NYSE">AWK</a>) and Essential Utilities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WTRG#NYSE">WTRG</a>).</li>
<li>Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), Dow Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) and China Petroleum and Chemical Ord Shs H (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SNPMF#OTC">SNPMF</a>) were the top three producers of single-use plastic items in 2021 as per 2023 Plastic Waste Makers Index report. </li>
</ul>
Now read: <a href="https://www.benzinga.com/news/23/06/32842246/with-363-8-billion-pounds-of-plastic-in-the-ocean-plastic-pollution-will-soon-outweigh-fish">With 363.8 Billion Pounds Of Plastic In The Ocean, Plastic Pollution Will Soon Outweigh Fish</a>
Photo: Shutterstock

Boiling Water Reduces Microplastics: What Does It Mean For Coca-Cola, PepsiCo's Bottled Water Brands?

After hitting a fresh record high on Monday, cocoa prices have slumped 13% — a sharp fall in just three days. But experts say the market remains in critical short supply, which is why Valentine&#8217;s Day <a href="https://www.benzinga.com/news/large-cap/24/02/37141514/cocoa-annual-inflation-tops-100-pushes-valentines-day-chocolate-pralines-to-unprecedented-costs">chocolates were so expensive</a>. 
Meanwhile, hedge funds continue to <a href="https://www.benzinga.com/markets/equities/24/02/37183247/choccy-horror-show-hedge-funds-pile-in-as-cocoa-soars-to-record-high">build up long positions</a>.
Despite the slump over the past three days, the U.S. cocoa futures price has jumped 43% to $5,999 a tonne since the start of the year. Four days ago it hit a fresh record high of $6,929.
This is particularly hard on companies such as Hershey Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>). The company reported earlier this month that it now expects flat earnings for 2024 due to higher raw materials costs.
&#8220;Historic cocoa prices are expected to limit earnings growth this year,&#8221; said Hershey CEO Michele Buck.
Shares in Hershey have fallen 8% to $186.25 since reporting its quarterly earnings and 2024 outlook on February 8.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/29092434/newplot-2024-02-29T132420.319.png" alt="" class="wp-image-234235" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/29092434/newplot-2024-02-29T132420.319.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/29092434/newplot-2024-02-29T132420.319-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Also Read: <a href="https://www.benzinga.com/markets/equities/24/02/37183247/choccy-horror-show-hedge-funds-pile-in-as-cocoa-soars-to-record-high">Choccy-Horror Show: Hedge Funds Pile In As Cocoa Soars To Record High</a>
But what does this mean to the consumer? Ether you&#8217;ll pay more for your chocolate and candy bars, or pack sizes are smaller. 
&#8220;Chocolate prices are about to rise — and bars and boxes will shrink too,&#8221; <a href="https://twitter.com/JavierBlas/status/1759597009240047995">said</a> Javier Blas, columnist for Bloomberg and ex-FT commodities correspondent on X.
The cocoa crisis has been a long time in the making. Most farmers in West Africa are overwhelmingly poor smallholders who lack the means to reinvest in their farms. Now, left with mainly old trees, farmers face lower yields and plants that are more susceptible to disease.
&#8220;Both factors are at play this year, and the upshot is a brutal gap between supply and demand, with the market heading for a deficit of between 300,000 and 500,000 tonnes. If confirmed, that would be the largest shortfall in 65 years,&#8221; said Blas.
While this doesn&#8217;t necessarily mean there&#8217;ll be a scarcity of candy bars on shelves — there are global warehoused stockpiles of cocoa — these stocks are wearing thin, adding to price pressure.
The International Cocoa Organization <a href="https://www.icco.org/wp-content/uploads/ICCO-Monthly-Cocoa-Market-Report-%E2%80%93-January-2024.pdf">said</a>: &#8220;It would be beneficial if all major players reconsider the structural issues being faced by the cocoa sector — aged trees, diseases, remunerative farm gate prices, climatic challenges, etc.&#8221;
The World Cocoa Foundation <a href="https://worldcocoafoundation.org/news-and-resources/press-release/world-cocoa-foundation-wcf-draws-up-a-new-landscape-for-an-equitable-cocoa-sector">said</a> it was addressing the imbalance between the wages earned by farmers in Cote d&#8217;Ivoire and Ghana, the world&#8217;s two largest cocoa producers, and prices charged to western consumers.
&#8220;Improving farmer income must remain at the forefront of everything that we do,&#8221; said Chris Vincent, president.
<h3 class="wp-block-heading">This Isn&#8217;t A Short-Term Problem</h3>
Better-paid farmers able to finally plant new trees won&#8217;t solve the problem overnight. It can take around five years before new cocoa trees start to produce seed pods.
This adds up to profits for traders and hedge funds who built up a near $9 billion net long position.
Still, there remains rising costs and pressure on margins for chocolate companies such as Hershey in the weeks leading up to Easter.
Shares in rival Mondelez International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>) — owner of Cadbury, Milka and Toblerone chocolate brands — are down 5% this month. Nestle SA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NSRGF#OTC">NSRGF</a>), owner of Toll Bar, is down 8% in February.
There is no exchange-traded fund to track the price of cocoa directly, but the Consumer Staples Select Sector SPDR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) has been performing reasonably well over the past few months. Since mid-October, it has gained 12.6% to $74.56.
Read Now: <a href="https://www.benzinga.com/markets/equities/24/02/37367334/gasoline-pump-prices-near-1-year-high-is-this-an-inflationary-threat">Gasoline Pump Prices Near 1-Year High: Is This An Inflationary Threat?</a>
Image: Shutterstock

Sector ETFs

Hedge Funds

ETFs

NSRGF

Is My Candy Bar Getting Smaller? Yes, A Chocolate Crisis Means Smaller, Pricier Hershey's

<ul>
<li>North American operating model improvements include progress across manufacturing flexibility, sales execution, pricing power and portfolio expansion</li>
<li>Revenue growth management, channel opportunities, digital investments and best-in-class consumer marketing position North America as growth driver</li>
</ul>
CHICAGO, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Mondelēz International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>) today will highlight the turnaround of its North America operations at the 2024 Consumer Analyst Group of New York (CAGNY) Conference. Chairman and Chief Executive Officer Dirk Van de Put, Chief Financial Officer Luca Zaramella, and Executive Vice President for North America, Gustavo Valle, will update the Company's recent progress in building a sustainable growth engine in the North America market as part of its long-term growth acceleration strategy.
"Our strategic focus on core categories – chocolate, biscuits and baked snacks – has been instrumental in driving success across both emerging markets and developed markets like North America," Van de Put said. "We remain confident that our virtuous cycle of strong gross profit dollar growth – fueling local-first commercial execution and increasing investments in our strong brands, capabilities and talent – will enable us to continue delivering attractive, sustainable growth."
Driving Accelerated Growth and Transformation Mondelēz International has consistently delivered against its long-term algorithm since launching its growth strategy in 2018. The Company is continuing to reshape its portfolio to generate 90% of revenue through its core categories—chocolate, biscuits and baked snacks.
The Company's North American business, which accounts for more than 30% of total net revenue and nearly 40% of operating income, has transformed into a resilient, reliable driver of growth.
"We're well positioned to take our performance to the next level," Valle said. "We remain committed to strengthening consumer preference and loyalty through creative and meaningful activations in the region."
Today's CAGNY presentation will focus on three key areas of Mondelēz International's strategy to drive sustainable long-term growth:
<ul>
<li>Delivering strong, differentiated results that position the Company for attractive long-term growth with superior presence across channels, supported by continuous investment in infrastructure and talent.</li>
<li>Transforming North America to build a sustainable growth engine and successfully building a foundational operating and sales model that will become a resilient growth driver.
<ul>
<li>Strong capital allocation and value creation strategies to ensure stronger return on investments and become the consumer packaged goods partner of choice for retailers.</li>
</ul>
</li>
</ul>

Guidance

Events

Mondelēz International Celebrates Progress On Strategic Priorities, Boosted By Transformation Of North American Business Into Sustainable Growth Engine, At 2024 CAGNY Conference

Mondelez Revamps European Operations After Boycotts Over Russian Business

The biggest squeeze in the cocoa market in more than a decade has pushed prices of the commodity to record highs in recent sessions as hedge funds have piled into <a href="https://www.benzinga.com/markets/commodities">cocoa futures since the start of the year</a>.
This has been great news for the speculative investors and funds at the heart of this trade, but bad news for chocolate consumers and manufacturers, such as Hershey Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>).
In speculative positioning across commodity markets in New York and London, traders — including hedge funds — have built up a massive $8.7 billion position, the largest ever in dollar terms, according to data from the Commodity Futures Trading Commission.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/16091423/newplot-89.png" alt="" class="wp-image-219140" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/16091423/newplot-89.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/16091423/newplot-89-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Also Read: <a href="https://www.benzinga.com/news/large-cap/24/02/37141514/cocoa-annual-inflation-tops-100-pushes-valentines-day-chocolate-pralines-to-unprecedented-costs">Valentine&#8217;s Day Chocolate This Year Isn&#8217;t So Sweet As Cocoa Inflation Tops 100%</a>
<h2 class="wp-block-heading">Prices Rise As African Growers Hit</h2>
Cocoa prices were already moving sharply higher in the final quarter of 2023 as poor weather and disease affected harvests in chief growing areas in West Africa, such as Cote d&#8217;Ivoire — the world&#8217;s largest producer — and Ghana.
Between October and the end of December U.S. Cocoa futures had already gained 23%, surpassing the previous record high of $3,826 per tonne, set during the so-called commodity super-cycle of 2011.
Since the beginning of the year, hedge funds, whose equity short bets have underperformed during the recent stock market rally, have wanted a chunk of the cocoa market. 
They have pushed the price further still. Starting the year at $4,196 a tonne, new volume in the market drove the price 43% higher to a record $6,030 last week. The price on Friday stood at $5,503.
<h2 class="wp-block-heading">Hedge Funds Enter For Their Cut</h2>
&#8220;The squeeze appears to have been driven by commercial players, where the gross long position has increased from around 119k lots in February last year to more than 290k lots currently,&#8221; said Warren Patterson, senior commodity strategist at ING.
&#8220;Whether this is an intentional squeeze or not is less clear. If it is, it wouldn&#8217;t be the first time the cocoa market has experienced one,&#8221; he added.
Indeed, the most notorious squeeze on the cocoa market happened in 2002 when London-based hedge fund Armajaro, under the direction of its founder Anthony Ward, cornered 7% of the global cocoa harvest in a move that earned him the nickname &#8220;Chocfinger.&#8221;
Prices don&#8217;t appear to be about to make a significant move lower either. As production levels fell in 2023, the market was already in deficit in the 2021/22 and 2022/23 seasons according to the International Cocoa Organization.
The market is now set for a sizeable third-successive deficit in 2023/24, which would take global stocks to their lowest in a decade.
As for prices: &#8220;They need to go to levels where we start to see significant demand destruction,&#8221; said Patterson.
He added: &#8220;We are already seeing some of that, but clearly not enough to bring the market back into balance and ease tightness concerns.&#8221;
<h2 class="wp-block-heading">Confectioners Feel The Pain</h2>
The biggest impact has been on brands such as Hershey, which last week missed market earnings forecasts as the company <a href="https://www.benzinga.com/news/earnings/24/02/37012481/hersheys-mixed-bag-stable-q4-earnings-amid-slow-sales-growth-and-rising-cocoa-costs">reported rising costs</a>. This prompted a rating and target price downgrade from Morgan Stanley. Hershey&#8217;s shares are flat on the year, but are down 30% since peaking at around $270 last May.
Confectionary rival Mondelez International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>) is down nearly 8% since January 30 when it reported stronger-than-expected results, but its outlook was marred by rising costs.
Shares in Rocky Mountain Chocolate Factory (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMCF#NASDAQ">RMCF</a>) are down around 15% since the start of the year.
Now Read: <a href="https://www.benzinga.com/news/earnings/24/02/37012481/hersheys-mixed-bag-stable-q4-earnings-amid-slow-sales-growth-and-rising-cocoa-costs">Hershey&#8217;s Mixed Bag: Stable Q4 Earnings Amid Slow Sales Growth And Rising Cocoa Costs</a>

RMCF

Choccy-Horror Show: Hedge Funds Pile In As Cocoa Soars To Record High

Bad news for those planning to gift their sweetheart a box of chocolate <a href="https://www.benzinga.com/topic/valentines-day">this Valentine&#8217;s Day. </a>
The price of cocoa, the crucial ingredient for chocolate, has surged over 100% since last year. 
Cocoa, a regulated commodity that trades on the Intercontinental Exchange (ICE) under the ticker CC, saw its spot price rising to over $5,500 per tonne recently, doubling from a year ago. 
West Africa, accounting for three-quarters of the world&#8217;s cocoa production, is facing supply challenges. The leading producers, Ivory Coast and Ghana, are dealing with diseases and the dry Harmattan winds, adversely affecting crop quality and yield. 
Ghana&#8217;s output is expected to hit a 13-year low, with Ivory Coast&#8217;s output at a seven-year minimum. Adding to the woes, recent surges in freight rates, especially due to tensions in the Red Sea area, could impact international trade, making the high cocoa prices even more burdensome for users and potentially affecting demand.
Chart: Cocoa Prices Are Skyrocketing, Turning Your Valentine&#8217;s Day From Sweet To Bitter 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/14160726/image-33-1024x495.png" alt="" class="wp-image-216343" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/14160726/image-33-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/14160726/image-33-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/14160726/image-33-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/14160726/image-33-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/14160726/image-33.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
America&#8217;s Chocolate Consumption And Investment Opportunities
The U.S. boasts the largest chocolate market globally, with an annual valuation exceeding $20 billion. In terms of cocoa imports, the U.S. primarily relies on Canada (30%), Côte d&#8217;Ivoire (12.8%), and Mexico (10.1%).
Investments in cocoa-related exchange-traded funds (ETFs) that track cocoa prices are off the table for U.S.-based investors due to their absence on the NYSE Arca exchange. 
Investors can consider companies like Mondelez International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>), which owns renowned chocolate brands such as Cadbury and Milka; The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), a leading confectionery manufacturer in the U.S.; and Lindt &amp; Sprüngli AG, noted for its premium chocolates, although its primary listing is outside the U.S. (OTCPK: LDSVF)
Read Now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37110456/whats-hot-this-valentines-day-weed-retail-trends-sales-insights-and-love-driven-bus">What&#8217;s Hot This Valentine&#8217;s Day? Weed Retail Trends, Sales Insights And Love-Driven Business Opportunities</a>
Image by <a href="https://pixabay.com/users/jillwellington-334088/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=2057745">Jill Wellington</a> from <a href="https://pixabay.com//?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=2057745">Pixabay</a>

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LDSVF

Valentine's Day Chocolate This Year Isn't So Sweet As Cocoa Inflation Tops 100%

Super Bowl LVIII aired on Sunday, Feb. 11, 2024 and saw the Kansas City Chiefs defeat the San Francisco 49ers in overtime to win back-to-back <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37063011/tesla-bull-slams-short-term-thinking-as-ev-maker-holds-back-from-super-bowl-ads-aga">National Football League championships.</a>
The game also featured dozens of commercials advertising products and showcasing new movies and television shows. The commercials also featured many celebrity cameos.
What Happened: Super Bowl LVIII commercials were priced at around $7 million for a 30-second slot. The game aired on CBS and Nickelodeon and streamed on Paramount+, which are units of Paramount Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>).
The game going into overtime may have resulted in extra advertisements being aired during this year&#8217;s Super Bowl.
This author tracked all the commercials, from the singing of the National Anthem to the final round of ads after the Chiefs won the Super Bowl. The commercials may have been region-specific in some cases and come from a streaming broadcast in the Michigan market. Nickelodeon aired different ads in some cases, choosing to cut out certain sectors like sports betting and alcohol from the family-friendly broadcast.
Here are the Super Bowl LVIII commercials and the companies behind them.
<ul>
<li>"A Quite Place: Day One" movie trailer from Paramount</li>
<li>Dr. Pepper commercial, owned by Keurig Dr Pepper Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KDP#NASDAQ">KDP</a>)</li>
<li>TurboTax with Quinta Brunson, unit of Intuit Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>)</li>
<li>Several ads for Paramount shows like "NCIS," "NCIS Hawaii" and the Big Ten on CBS</li>
<li>FanDuel Kick of Destiny from Rob Gronkowski, unit of Flutter Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>)</li>
<li>"Deadpool 3" trailer teaser from The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>)</li>
<li>Veozah from pharmaceutical company Astellas</li>
<li>YouTubeTV, NFL Sunday Ticket ad from Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)</li>
<li>"Wicked" movie trailer from Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>)</li>
<li>M&amp;Ms commercial</li>
<li>Dove, a unit of Unilever (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UL#NYSE">UL</a>)</li>
<li>"Ghosts" show on CBS</li>
<li>"Kingdom of the Planet of the Apes" movie trailer, Disney</li>
<li>BetMGM ad from MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) and Entain, starring Vince Vaughn, Tom Brady and Wayne Gretzky</li>
<li>He Gets Us LLC religious ad</li>
<li>Mountain Dew Baja Blast ad with Aubrey Plaza, beverage is a unit of PepsiCo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NYSE">PEP</a>)</li>
<li>Lindt</li>
<li>Kawasaki</li>
<li>Popeye's ad with Ken Jeong, restaurant is owned by Restaurant Brands International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>)</li>
<li>Apartments.com ad, is a unit of CoStar Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>)</li>
<li>Pringles with Chris Pratt, owned by Kellanova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>)</li>
<li>Michelob Ultra with Lionel Messi, Dan Marino, Jason Sudeikis, beverage is unit of Anheuser-Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>)</li>
<li>Temu, unit of PDD Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>)</li>
<li>CeraVe with Michael Cera, owned by L'Oreal</li>
<li>Starry with Ice Spice, beverage is a unit of PepsiCo</li>
<li>BMW (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>) with Christopher Walken</li>
<li>State Farm with Arnold Schwarzenegger</li>
<li>Nerds</li>
<li>"Twisters" movie trailer from Comcast</li>
<li>Booking.com with Tina Fey, Glenn Close, unit of Booking Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>)</li>
<li>Homes.com with Daniel Levy, Lil Wayne and more, unit of CoStar Group</li>
<li>T-Mobile with Bradley Cooper and mother and several other celebrities, unit of T-Mobile US (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>)</li>
<li>Coors Light with LL Cool J and Lainey Wilson, unit of Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>)</li>
<li>FanDuel ad, unit of Flutter Entertainment</li>
<li>Temu ad (same ad as before)</li>
<li>Oreos, unit of Mondelez International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>)</li>
<li>eTrade babies playing pickleball, unit of Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>)</li>
<li>Hellmann's, unit of Unilever</li>
<li>"Halo" season 2 trailer from Paramount</li>
<li>Reese's, unit of The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>)</li>
<li>Squarespace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQSP#NYSE">SQSP</a>) ad directed by and starring Martin Scorsese</li>
<li>Bass Pro Shops</li>
<li>"Knuckles" series trailer from Paramount</li>
<li>"Tracker" series trailer from Paramount</li>
<li>Dunkin' Donuts ad with Ben Stiller, Matt Damon, Tom Brady, Jennifer Lopez</li>
<li>He Gets Us LLC religious ad</li>
<li>"Shogun" series promo on FX, unit of Disney</li>
<li>"Young Sheldon," promo from Paramount</li>
<li>TurboTax ad from Intuit</li>
<li>CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) with an ad on cyberattacks</li>
<li>Google AI ad from Alphabet</li>
<li>"The Family Stallone" promo from Paramount</li>
<li>Snapchat's first ever Super Bowl ad, unit of Snap Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>)</li>
<li>Robert F. Kennedy Jr. 2024 election ad from American Values PAC</li>
<li>Poppi beverage</li>
<li>"Tracker" trailer from Paramount</li>
<li>Oikos, unit of Danone</li>
<li>HelloFresh with Keke Palmer</li>
<li>Hoka shoes, unit of Deckers Outdoor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>)</li>
<li>e.l.f. Beauty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) with Judge Judy, aka Judge Beauty</li>
<li>Etsy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>)</li>
<li>Apple Music Halftime Show with Usher from Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</li>
<li>NFL Africa ad</li>
<li>Paramount Mountain with several Paramount series characters, NFL star Tua Tagovailoa</li>
<li>Pluto TV streaming from Paramount</li>
<li>Silk, unit of Danone</li>
<li>Instacart, unit of Maplebear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>)</li>
<li>U.S. Army</li>
<li>Stok Cold Brew Coffee with Anthony Hopkins, unit of Danone</li>
<li>Verizon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) with Beyonce</li>
<li>Uber Eats with David Beckham, Victoria Beckham, David Schwimmer, Jennifer Aniston and Jelly Roll, unit of Uber Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>)</li>
<li>Pluto TV streaming from Paramount</li>
<li>Pfizer (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>)</li>
<li>Skechers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKX#NYSE">SKX</a>) with Tony Romo and Mr. T</li>
<li>Bud Light with Peyton Manning, Post Malone, unit of Anheuser-Busch InBev</li>
<li>Toyota Motor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>)</li>
<li>Temu (same ad as previous)</li>
<li>Doritos, unit of PepsiCo</li>
<li>Volkswagen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>)</li>
<li>Homes.com, unit of CoStar Group</li>
<li>"IF" movie trailer from Paramount</li>
<li>"NCIS" series promo from Paramount</li>
<li>NFL Shop</li>
<li>NFL ad</li>
<li>Ring, unit of Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</li>
<li>Ally Bank, unit of Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>)</li>
<li>United States Postal Service</li>
<li>Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>)</li>
<li>Samsung (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>)</li>
<li>Kia</li>
<li>Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) highlighting Copilot artificial intelligence</li>
<li>Homes.com, unit of CoStar Group</li>
<li>Disney+ from Disney</li>
<li>Budweiser, unit of Anheuser-Busch InBev</li>
<li>T-Mobile with Donald Faison, Zach Braff and Jason Momoa</li>
<li>DoorDash Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>)</li>
<li>Champions League soccer on Paramount</li>
<li>Commercials after this point were after the game went into overtime</li>
<li>Progressive Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>)</li>
<li>Discovery Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>)</li>
<li>"Monkey Man" trailer from Comcast</li>
<li>"Kung Fu Panda 4" trailer from Comcast</li>
<li>State Farm (same ad as before)</li>
<li>Temu (same ad as before)</li>
<li>Verizon with Beyonce (same ad as before</li>
<li>Amazon Web Services from Amazon.com Inc</li>
<li>NFL Shop</li>
<li>Instacart</li>
</ul>
Now Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37075060/bitcoin-breaks-50-000-mark-fueled-by-etf-inflows">Bitcoin Breaks $50,000 Mark, Fueled By ETF Inflows</a>
Photo: Shutterstock

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INTU

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Citigourp Global Markets 2% Protected Notes Linked To The Djia

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TMUS

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Super Bowl Commercials 2024: Complete List Of Super Bowl LVIII Ads And Companies Behind Them

Mondelez International's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NYSE">MDLZ</a>) short percent of float has risen 9.8% since its last report. The company recently reported that it has 15.21 million shares sold short, which is 1.12% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.02 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Mondelez International Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1707509709_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Mondelez International has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Mondelez International's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Mondelez International's peer group average for short interest as a percentage of float is 4.59%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Peering Into Mondelez International's Recent Short Interest

Citigroup analyst Thomas Palmer initiates coverage on Mondelez International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>) with a Buy rating and announces Price Target of $87.

Initiation

Citigroup Initiates Coverage On Mondelez International with Buy Rating, Announces Price Target of $87

It&#8217;s a volatile day on Wall Street as tech stocks reacted to disappointing quarterly earnings ahead of the highly anticipated <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36867485/all-eyes-on-fed-as-markets-brace-for-powell-remarks-on-2024-rate-cuts">Federal Open Market Committee (FOMC) meeting</a>. 
What Happened: In the lead-up to the FOMC meeting — scheduled for 2:00 p.m. ET on Wednesday, Jan. 31 — the tech-heavy Nasdaq 100 slipped 1.4%. This marked its worst session since early January.
Here&#8217;s a breakdown:
<ul>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) is down 6%, due to disappointing results for the quarter ending in December.</li>
<li>Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), a prominent player in the artificial intelligence space, also fell on <a href="https://www.benzinga.com/markets/equities/24/01/36871444/magnificent-7-tumble-as-300b-vanish-on-bleak-ai-earnings-could-the-fed-make-things-worse">softer-than-expected results</a>.</li>
<li>The broader market, as measured by the S&amp;P 500 index, fell 0.9%.</li>
<li>The pace of job growth slowed from 158,000 in December to 107,000 this month (below the expected 147,000), according to the ADP National Employment Report.</li>
<li>The CBOE Volatility Index, also known as the market fear gauge or VIX, rallied 8%. Bonds gained ground as investors adopted a more cautious approach. Treasury yields fell across all key maturities, with the 10-year yield falling below the 4% mark. </li>
<li>The popular iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) soared 1%.</li>
<li>On the banking front, the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) fell 3.7% on track for the worst session since May 2023 amid disappointing results from New York Community Bancorp Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>). </li>
</ul>
<h2 class="wp-block-heading">Wednesday's Performance In Major Indices, ETFs</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Major Indices</th>
<th>Price</th>
<th>%</th>
</tr>
</thead>
<tbody>
<tr>
<td>Dow Jones</td>
<td>38,466.45</td>
<td>0.0%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,980.19</td>
<td>-0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>4,885.26</td>
<td>-0.8%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,252.38</td>
<td>-1.3%</td>
</tr>
<tr>
<td>CBOE VIX</td>
<td>14.38</td>
<td>8.0%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was 0.9% lower to $486.56, the SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) held steady at $384.46 and the tech-heavy Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 1.4% to $419.13, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>. 
Sector-wise, the defensive Utilities SPDR Select Sector Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 0.7%. Both the Technology SPDR Select Sector Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) and the Communication Services SPDR Select Sector Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) underperformed, down 1.6%.
<h2 class="wp-block-heading">Wednesday&#8217;s Stock Movers </h2>
<ul>
<li>Alphabet Inc. fell 6.6% on its worst session in three months. While beating both revenue and earnings estimate, the tech giant delivered weaker-than-expected advertising revenue. </li>
<li>Advanced Micro Devices Inc. fell 3.1% after broadly matching Street&#8217;s earnings estimate, but issuing a first quarter 2024 guidance below expectations. Chipmaker peers such as NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) fell 1.9% and 2% respectively. </li>
<li>Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) fell 1.4%, despite reporting stronger-than-expected results last quarter and receiving several price-target boosts from sell-side analysts. </li>
<li>New York Community Bancorp Inc. plummeted 35% on its worst day since the company went public in 1993. The regional bank reported a loss last quarter, largely disappointing estimates of a positive net income, and revenue also surprised to the downside. </li>
<li>Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) rallied nearly 7% after reporting stronger-than-expected results, with the company CEO prioritizing the need to address safety and quality issues above all during the call with investors. </li>
</ul>
Other companies reacting to earnings include:
<ul>
<li>Starbucks Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NYSE">SBUX</a>), down 0.7%</li>
<li>Mondelez International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>), down 1.7%</li>
<li>Marathon Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), down 3.3%</li>
<li>Electronic Arts EA Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>), up 1.1%</li>
<li>Mastercard Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), up 1.1%</li>
<li>Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>), down 3.8%</li>
<li>Boston Scientific Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>), up 2.9%</li>
<li>Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>), down 0.2%</li>
<li>Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>), up 1.9%</li>
<li>Automatic Data Processing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>), up 2.8%.</li>
</ul>
Companies set to report their results after the closing bell Wednesday are Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), MetLife Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), Aflac Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AFL#NYSE">AFL</a>).
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36869050/microsoft-enjoys-first-mover-advantage-as-ai-revenue-doubles-5-analysts-explore-q2-">Microsoft Enjoys &#8216;First-Mover Advantage&#8217; As AI Revenue Doubles, 5 Analysts Explore Q2 Print</a>
Image: Shutterstock

Analyst Color

Earnings

Earnings Beats

Earnings Misses

Macro Economic Events

Broad U.S. Equity ETFs

Small Cap

Federal Reserve

Intraday Update

Tech

AVGO

SPDR Dow Jones Industrial Average ETF Trust

NYCB

ODFL

QCOM

iShares Trust Barclays 20+ Year Treasury Bond Fund

Nasdaq, S&P 500 Slip Ahead Of Fed Meeting, Regional Banks Sink After NYCB Disappoints: What's Driving Markets Wednesday?

WIIM

Mondelez shares are trading lower after the company reported Q4 financial results and issued guidance.

Disappointing tech tidings appear to be weighing down on the market, with the Nasdaq futures diving in early trading on Wednesday while the Dow futures were barely holding up. Earnings from the likes of Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36862212/amd-stock-takes-7-premarket-plunge-but-analyst-adds-twist-with-39-price-target-lift">have triggered negative reactions,</a> with the former two reacting to softish guidance, while the latter came under pressure due to weakness in its bread-and-butter ad revenue.
Traders may also look to bide time to see off the Federal Reserve&#8217;s rate decision due Wednesday. Investors will likely turn their attention to the policy statement as they seek clues on the potential timing and scale of future rate cuts, said Comerica Chief Investment Officer John Lynch. A pause decision at the January meeting now appears to be a foregone conclusion.
Cues From Tuesday's Trading:
Stocks closed mixed on Tuesday as traders digested the earnings flow from before the market open and awaited key tech earnings reports due after the close. They also reacted to positive job market, housing and consumer confidence readings.
As traders pushed back their rate cut expectations following a string of positive Main Street data, financial stocks rallied, keeping the Dow Industrials in the green. The 30-stock blue-chip average ended at a fresh high on Tuesday. On the other hand, the S&amp;P 500 retreated from a closing high hit on Monday, and the Nasdaq Composite also experienced weakness.
Among the S&amp;P sector indices, communication services, IT, and real estate stocks retreated on Tuesday, while energy and financial stocks gained some ground.
 US Index Performance On Tuesday
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index </td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.76%</td>
<td>15,509.90</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.06%</td>
<td>4,924.97</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.35%</td>
<td>36,467.31</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.76%</td>
<td>1,996.24</td>
</tr>
</tbody>
</table>
</figure>
Analyst Color:
&#8220;When the S&amp;P 500 goes more than a year without hitting new highs, the Index generally performs well over the next 12 months,&#8221; said Comerica&#8217;s Lynch. 
&#8220;In eight of the nine previous instances, the S&amp;P has marched higher over the next twelve months, delivering an average return of 12.1%. Additionally, new highs tend to come more quickly with the Index setting record closes an average of 37 times in the following year, accounting for roughly 15% of all trading days.&#8221;
The analyst said this historical trend supports &#8220;time in&#8221; the market rather than &#8220;timing&#8221; the market.
Futures Today
 Futures Performance On Wednesday
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-1.01%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.44%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.11%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.30%</td>
</tr>
</tbody>
</table>
</figure>
<a href="https://www.benzinga.com/premarket/">In premarket trading</a> on Wednesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) slipped 0.43% to $488.78, and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) slumped 1.01% to $420.99, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Upcoming Economic Data:
ADP is due to release its private payroll report for January at 8:15 a.m. ET. Economists, on average, expect the private sector to have added 145,000 in January, a decrease from December&#8217;s 164,000.
The Labor Department will release its employment cost index for the fourth quarter at 8:30 a.m. ET. The consensus estimate calls for a 1% quarter-over-quarter increase in the employment cost index compared to a 1.1% gain in the third quarter.
The Chicago Institute of Supply Management will release the results of its regional business activity survey at 9:45 a.m. ET. The business barometer is expected to improve from 46.9 in December to 48 in January, with the most recent month&#8217;s reading showing continued contraction.
The Energy Information Administration is scheduled to release its customary weekly petroleum status report at 10:30 a.m. ET.
The Fed is expected to release its post-meeting policy statement at 2 p.m., followed Chair Jerome Powell&#8217;s press conference at 2:30 p.m. ET.
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus:
<ul>
<li>AMD fell about 6% in premarket trading due to the company&#8217;s quarterly results.</li>
<li>Among other stocks moving on earnings are Microsoft (down about a percent), Alphabet (down about 6%), Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) (down about 2%), Mondelez International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>) (down over 4%), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) (up nearly 3.5%), and Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) (up over 3.5%).</li>
<li>Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>), Brinker International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EAT#NYSE">EAT</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Nasdaq, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>), Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>), Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>), Rockwell Automation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROK#NYSE">ROK</a>) Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>), Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>) and Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) are due to report their quarterly results ahead of the market open.</li>
<li>Those reporting after the close include Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) and Qualcomm, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>).</li>
<li>Paramount Global, Inc. (NAS4DAQ: PARA) rallied over 17% after Bloomberg reported that media mogul Byron Allen made a $14.3-billoon offer to buy the company.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell nearly 3% amid a legal setback for its CEO Elon Musk, whose 2018 compensation was nullified by a Delaware Chancery Court Judge.</li>
</ul>
Commodities, Bonds, Other Global Equity Markets:
Crude oil futures fell 1.20% to $76.89 in early European session on Wednesday, reversing most of Tuesday&#8217;s 1.35% advance.
The benchmark 10-year Treasury note fell 0.023 percentage points to 4.034% on Wednesday.
China weighed on the equity markets in Asia, as the markets in the country, Hong Kong and Taiwan fell sharply, while sentiment was modestly positive elsewhere. European stocks showed nervousness in late-morning trading.
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36855413/energy-stocks-a-hedge-against-things-getting-more-out-of-control-in-middle-east-say"> Energy Stocks &#8216;A Hedge Against Things Getting More Out of Control&#8217; In Middle East, Says Veteran Investor</a>

Futures

Previews

Pre-Market Outlook

Movers

CHRW

KLIC

NDAQ

QRVO

SWKS

TEVA

TSLA

WOLF

Nasdaq Futures Plummet As Alphabet, AMD Disappointments Sour Sentiment; Spotlight Shifts To Fed Statement, Powell's Presser

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
With stocks running into a bit of a speed bump this week, with the S&amp;P 500 falling below the 5,200 mark again, some tech-heavy investors may wonder if now&rsquo;s a good time to play some defense. Just because the broader markets are feeling weighed down doesn&rsquo;t mean there aren&rsquo;t individual stocks that can shrug off the volatility and find the means to move higher. 



The consumer-packaged foods scene holds some overlooked and potentially <a href="https://investorplace.com/stock-types/undervalued-stocks/">undervalued stocks</a> that may have what it takes to fare better as red-hot CPI (consumer price index) data puts this year&rsquo;s expected rate hikes on ice. 



Though it&rsquo;s comforting to know that the Federal Reserve&rsquo;s next move will probably be a cut, there&rsquo;s some risk that market participants&rsquo; rate cut expectations may be too high. For some overheated areas in the tech sector, fewer cuts may set the stage for tougher sledding for the rest of the year. 



The good news is some of the improving consumer-packaged goods plays seem insulated (and cheap) enough to make it through a potential rough patch without getting battered. Let&rsquo;s check out three affordable consumer staples that may have what it takes to gain, even if the rest of the market is in for some consolidation.



<h2>Mondelez (MDLZ)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/mdlz1600-300x169.jpg" alt="The Mondelez website magnified by a magnifying glass"><div>Source: Shutterstock</div></div>Mondelez (NASDAQ:<a href="https://investorplace.com/stock-quotes/mdlz-stock-quote/">MDLZ</a>) is a top sweets play that could add a bit of sweetness to your portfolio as the hot start to 2024 begins to cool off, along with the scorching tech sector. After retreating nearly 14% from their early February peak, shares of the $89.7 billion confectionary firm look like they&rsquo;re headed for a roundtrip right back to the lows of October 2023. 



Indeed, there are notable headwinds (soaring cocoa prices and the sweets-curbing effects of Ozempic and Wegovy) to keep on one&rsquo;s radar. However, many are already baked into the stock right here at $66 and change. Moving ahead, effective cost controls and product innovation are key as the firm looks to maintain demand even as it raises prices by a <a href="https://www.investopedia.com/mondelez-stock-falls-as-maker-of-oreo-cookies-ritz-crackers-provides-weak-outlook-8553639">high single-digit percentage</a> in 2024. 



Sure, consumers are fed up with inflation, but either higher prices in response to scorching cocoa prices or margins could take a considerable hit. The good news is Mondelez&rsquo;s chocolate peers will be feeling the same pinch, so those with chocolate cravings will need to pay up either way.



Going for 18.4 times trailing price-to-earnings (P/E), with a decent 2.51% dividend yield, Mondelez stands out as a neglected consumer-packaged goods play that&rsquo;s rich, not just with calories but value. 



<h2>Pepsi (PEP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/pep-pepsico-1600-300x169.png" alt="Pepsi (PEP) Factory in Samara, Russia. Pepsi logo on a blue warehouse."><div>Source: FotograFFF / Shutterstock</div></div>Pepsi (NASDAQ:<a href="https://investorplace.com/stock-quotes/pep-stock-quote/">PEP</a>) is a heavyweight champ in the consumer-packaged goods space, with its flagship cola and a robust portfolio of salty and savory snacks. Like most other inflation-rattled consumer staple stocks, PEP stock is in a rut, now down 14% from its May 2023 high. With an even sweeter dividend yield of 2.97%, the $232.2 billion behemoth is definitely worth consideration for those looking to play defense in spite of the pressures hitting the industry.



Compared to Mondelez and many other quality packaged-goods plays, you&rsquo;ll pay a lofty price for admission. Today, the stock trades at 25.8 times trailing P/E. Not a cheap multiple for a company that&rsquo;s experiencing a drastic stall in sales growth. Last week, PEP stock got slapped with a downgrade from Argus over growth concerns. A number of concerns, like inflation and weight-loss drugs, contributed to the major downgrade. 



On the plus side, beverage makers have been investing in <a href="https://www.romania-insider.com/pepsico-investment-dragomiresti-factory-romania-december-2023">automation efforts</a>. Such investments should lead to sustained long-term margin enhancement and give lift to PEP stock over the longer term.



<h2>Kellanova (K)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/05/kellogg-1600-300x169.jpg" alt="Kellogg's sign on their Canada's head office building in Mississauga"><div>Source: JHVEPhoto / Shutterstock.com</div></div>Kellanova (NYSE:<a href="https://investorplace.com/stock-quotes/k-stock-quote/">K</a>) is the snack-focused arm of Kellogg that stands to do a whole lot better now as it focuses on convenience and great taste following its spin-off from Kellogg. Looking ahead, Kellanova is taking the initiative when it comes to <a href="https://www.prnewswire.com/news-releases/5-tech-priorities-shaping-the-future-of-kellanova-302062684.html">technological innovation</a>. 



With investments in the digital supply chain, data analytics, and even machine learning, Kellanova may sound like more of an AI-driven tech company than a maker of tasty cereal bars. In any case, expect its tech priorities will help it drive margins and sales growth, even amid turbulent macro conditions.



At writing, K stock is trading for 25.34 times trailing P/E, slightly less than PEP stock. With a similar dividend yield of 3.92% and the potential to grow from recent tech efforts, I&rsquo;d have to go with Kellanova over Pepsi for those looking to get a jump on the packaged foods scene.



On the date of publication, Joey Frenette did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Joey Frenette is a seasoned investment writer specializing in technology and consumer stocks. Contributing to the Motley Fool Canada, TipRanks, and Barchart, Joey excels in spotting mispriced stocks with long-term growth potential in a fast-paced market.</div><h3>More From InvestorPlace</h3>
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3 Severely Undervalued Packaged-Food Stocks Due to Pop Soon

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