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The Latest Breaking News from Supply chain

NiSun Shares Jump On Share Buyback Approval

NiSun Intl Enterprise Development Group Co, Ltd's (NASDAQ:NISN) board approved a share buyback of up to $8 million. The share buyback program will be effective in June 2022 and will likely last through the next six months. NiSun held $91.6 million in cash and equivalents as of December 31 and generated $23.9 million in operating…

Benzinga

China's Xiaomi, Realme, Honor Gained Market Share At Apple's Expense Following US Sanctions On Russia - Here's How

China saw a significant market share jump in the Russian smartphone market in May as manufacturers like Apple Inc (NASDAQ:AAPL) and Samsung Electronics Co, Ltd (OTC:SSNLF) paused new sales in the country following its Ukraine invasion, Reuters reports. Chinese manufacturers Xiaomi Corp (OTC:XIACY), Realme, and Honor accounted for 42% of Russia's smartphone sales in May 2022, up…

Benzinga

Rayonier Advanced Materials Reaffirms Commitment To Debt Reduction

Rayonier Advanced Materials Inc (NYSE:RYAM) updated its FY22 Adjusted EBITDA guidance to ~$160 million, subject to supply chain volatility and timing of sales recognition. The company delivered $128 million of Adjusted EBITDA in FY21. "With the completion of the planned maintenance outages at all four of our manufacturing facilities by the end of…

Benzinga

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Kennametal Names Patrick Watson As Finance Chief

Kennametal Inc. (NYSE:KMT) appointed Patrick S. Watson as Vice President and Chief Financial Officer (CFO), effective immediately. He is currently Vice President of Finance and Corporate Controller. Watson succeeds Damon Audia, who is leaving to pursue another opportunity. Watson has over 25 years of global finance and business experience. Before Kennametal, he held…

Benzinga

North East offshore firms selected for offshore cleantech accelerator programme

The Launch Academy North East is a seven month project designed to boost the region's offshore wind supply chain industry

Birmingham Post

Global supply chain crisis fuels push to local manufacturing as China’s appeal dims

Analysis: US to examine with fresh urgency easing reliance on China as pandemic disruptions expose global economic vulnerabilities

The Guardian - AU

Krispy Kreme Looks For New CFO; Promotes Josh Charlesworth To New Role

Krispy Kreme Inc (NASDAQ:DNUT) has promoted Josh Charlesworth to Global President and Chief Operating Officer. This newly created role will oversee the expansion of the company's global footprint and growth strategy. Charlesworth has served as Krispy Kreme's CFO since April 2017 and COO since May 2019. The company has engaged a search firm…

Benzinga

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Is United Rentals a Good Growth Stock to Buy?

United Rentals (URI) reported better-than-expected first-quarter 2022 results and raised its full-year guidance. But it is expected to suffer from inflationary environment and supply chain issues. So, let’s evaluate if it is wise to bet on the stock now.

StockNews.com

Daktronics Clocks 39% Sales Growth In Q4; Warns On Volatile Supply Chain, Labor Conditions

Daktronics, Inc. (NASDAQ:DAKT) reported fourth-quarter FY22 net sales growth of 38.8% year-over-year to $162.2 million, beating the consensus of $146.10 million. Orders for the quarter increased 67% Y/Y. The gross margin was 18.5% for Q4 compared to 23.6% a year earlier, and the operating margin was breakeven, compared to 1% for 4Q21. EPS…

Benzinga

Motorhome sales pull back to near pre-pandemic levels for Auto-Trail

Demand outstrips delivery with directors smarting over Covid-linked supply chain issues that stifled even higher growth

Birmingham Post

3 Undervalued Growth Stocks in the Semiconductor Industry

COVID-19 pandemic-led supply chain issues significantly disrupted the semiconductor industry. However, the industry is now rebounding strongly, and given semiconductors varied uses across sectors, the industry’s prospects look impressive. Against this backdrop, we think growth stocks in the semiconductor industry that currently look undervalued—Micron Technology (MU), United Microelectronics (UMC), and…

StockNews.com

TreeHouse Foods Finance Head Steps Down; Reaffirms FY22 Outlook

TreeHouse Foods Inc's (NYSE:THS) Executive Vice President and Chief Financial Officer William J. Kelley Jr. will step down to pursue another professional opportunity. To assist with the transition, Kelley will remain with TreeHouse through June 30, 2022. He will be succeeded on an interim basis by Chief Accounting Officer Patrick O'Donnell. The company…

Benzinga

Workers want raises. Shippers want robots. The supply chain hinges on reaching a deal

The immediate future of the global supply chain rests on a bargaining table in San Francisco, where the union representing all West Coast dockworkers is hashing out a new contract with the assembled bosses of maritime shipping.

Los Angeles Times

KFC switches to cabbage mix in Australia due to lettuce shortage

KFC says change is due to a lettuce shortage after floods destroyed crops in New South Wales and Queensland.

Al Jazeera

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The New Daily

Extreme weather blamed as KFC substitutes cabbage for lettuce and prices soar

Extreme weather is being blamed for a shortage of lettuce that has prompted fast food chain KFC to put cabbage on its burgers and led to soaring prices.

Daily Mirror

KFC swaps lettuce for cabbage in its burger and wraps - and fans are confused

KFC Australia says its supply chain has been affected by floods that have destroyed lettuce crops. It means it has had to swap lettuce for cabbage across its range of burgers and wraps

The Guardian - AU

‘Hit an iceberg’: KFC switches to cabbage in Australia due to lettuce shortage

Fast-food chain temporarily changes recipe due to supply chain issues caused by floods in Queensland and northern NSW earlier this year

Wales Online

KFC starts using cabbage in Australia after lettuce price hits $10 each

Global supply chain problems and rising energy costs are being made worse in Australia by the weather

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The Times of India

MSME lender FlexiLoans raises $90 million

BENGALURU: MSME-focused lending startup FlexiLoans.com has raised nearly $90 million from Denmark-based PE firm MAJ Invest, UK-based fintech investor Fasanara Capital, and the family offices of Harry Banga and Yogesh Mahansaria, along with many existing shareholders such as Sanjay Nayar, chairman of private equity firm KKR India. The funds will…

The Guardian - AU

Australia’s used car market is in overdrive as dealers chase customers to buy back vehicles

Supply chain issues cause unprecedented demand and wait times for used cars pushing dealers to contact private sellers directly

360info

Bait to plate: making fishing supply chains more transparent

Lessons from the ethical clothing movement, forest stewardship and other transparency initiatives could help end illegal fishing.

Benzinga

Raymond James Lowers BRP Price Target As Supply Chain Snags

Raymond James analyst Joseph Altobello lowered the price target on BRP Inc (NASDAQ: DOOO) (TSX: DOO) to C$135 from C$146 and maintained a Strong Buy rating on the shares.

Benzinga

XPO Logistics Amplifies Supply Chain Via Google Cloud - Read How

XPO Logistics Inc (NYSE:XPO) and Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) Google Cloud have launched a multi-year agreement to further innovate how goods move through supply chains. The financial terms were not disclosed. XPO Logistics is creating speedier, more efficient supply chains with greater visibility by leveraging Google Cloud's capabilities in artificial intelligence (AI), machine learning (ML),…

StockNews.com

Down More Than 60% in 2022, is Etsy Stock a Buy?

Arts-and-crafts marketplace Etsy (ETSY) has been making operational headway, but the company is expected to suffer from the inflationary environment and supply chain issues. So, let’s find out if it is wise to bet on the stock now. Read on.

The Hindu

PM Modi stresses need to make Indian banks, currency important part of international trade, supply chain

Inaugurating the ‘Iconic Week Celebrations’, Prime Minister Narendra Modi highlighted the importance of domestic banks and currency for India’s role in the international trade and supply chain.

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