Nutella Maker Looks to Spread in U.S. Market With Fannie May Deal
Hershey's New CEO To Bank On U.S. -- WSJ
SONIC Nights Tempts Guests with Shake and New Ice Cream Slush Offerings
Hershey to Reduce Workforce by 15% -- Update
Hershey Plans To Cut Workers By 15% Globally -- WSJ
We've bumped up our fair value estimate for Mondelez as the firm's cost savings take hold.
Our top managers remain cautious, focusing more on relative valuation and increasing their willingness to book gains in the face of a rising (but potentially overvalued) market.
Our top managers continue to focus on higher-quality businesses rather than seeking out bargains in a market that (in many of their minds) has become fully valued.
Our top managers continue to find attractive buying opportunities in wide-moat firms.