Consumers are absorbing higher labor and materials costs in the form of thinner rolls, smaller cans and lighter bags, and experts say such “shrinkflation" will ramp up in the months to come.
Consumers are absorbing higher labor and materials costs in the form of thinner rolls, smaller cans and lighter bags, and experts say such “shrinkflation" will ramp up in the months to come.
Author Bio
James Brumley is former stockbroker with a large Wall Street firm, and a former trading analyst for a small, options-based newsletter. After twenty years of professional experience in and around the market, his approach is one that combines fundamentals, sentiment, and common sense. It s also an approach that respects this John Keynes reality: The market isn t always rational. Follow @jbrumley
Are you fearful the broad market might sell off this summer, making good on the old sell in May adage? There s certainly no denying stocks are showing some vulnerabilities lately in the shadow of an enormous run-up since March of last year.
5/5/2021 5:40:06 AM GMT
Asia Market Update: Asian trading continues to be impacted by holidays; JP and CN return from extended holidays on Thurs; NZD rises after jobs data.
General trend
- Energy stocks move higher after overnight rise in oil prices.
- S&P ASX 200 has gained after the flat open [Financial, Resources and Energy indices rise; ANZ declined after reporting earnings].
- Hang Seng is lower after earlier paring decline [Energy cos. move higher; TECH index drops over 2%; SJM drops after earnings, L’Occitane rises ].
- Nasdaq FUTs erased gain.
- Markets in Japan, Shanghai and South Korea to return from holiday on Thurs (May 6th).
Reynolds Consumer Products: Q1 Earnings Snapshot
May 5, 2021 GMT
LAKE FOREST, Ill. (AP) Reynolds Consumer Products Inc. (REYN) on Wednesday reported first-quarter earnings of $74 million.
The Lake Forest, Illinois-based company said it had net income of 35 cents per share. Earnings, adjusted for non-recurring costs, came to 36 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 36 cents per share.
The company posted revenue of $757 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $765.9 million.
For the current quarter ending in July, Reynolds Consumer Products expects its per-share earnings to range from 36 cents to 39 cents.