MDLZ – They will report on Jul 30. Per 1st qtr report: They have cocoa purchases covered for all of 2024 and expect cocoa prices to fall again just as it’s time to go back to the market. Their sales are increasing in emerging markets. Sales have decreased marginally in developed markets. But snacks remain a treat people can afford in recessionary times. I consider the stock to be a defensive play and plan to hold for a while. $2B share buyback for 2024.
Their price has fallen 10%, but had a short covering spike a couple days ago and I noticed the packaged foods sector was the only sector up in price on the heat map during “risk off” a couple days ago. That sector seems to have been a corollary sell trade during the buy Ozempic craze. Buying the dip today.
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