Core Viewpoint - Recent insider buying at major snack food companies indicates confidence in the U.S. snack food market despite concerns over appetite-suppressing GLP-1 drugs [2][3] Group 1: Insider Buying Activity - Insiders purchased nearly $5 million worth of shares across Utz Brands, Coca-Cola, Hershey, and Molson Coors, suggesting strong belief in the sector's resilience [3] - At Utz Brands, insiders bought $2.6 million worth of stock between $9.86 and $10.58 per share from early November to the end of December [3] - A director at Coca-Cola bought $998,000 worth of stock at $69.87 to $70.31 per share, marking the first insider purchase since June 2022 [4] - Two directors at Molson Coors collectively bought $450,000 worth of shares between $44.70 to $46.79 in early November [4] - At Hershey, the CEO and two directors bought $445,000 worth of stock at around $186, with the CEO contributing $371,000, marking the first insider buys since 2019 [5] Group 2: Market Trends and Consumer Behavior - Research from Circana indicates that 48.8% of consumers snacked three or more times a day last year, an increase of 2.7 percentage points from 2024 [6] - While some snack food companies are experiencing soft sales, the overall market remains appealing to insiders [6] - Snack food companies are responding to market challenges by introducing "healthier" products, such as Utz Brands' Boulder Canyon line made with avocado or olive oil [6]

Tanner described the U.S. snacking environment as steady in the fourth quarter, with consumers “spend[ing] selectively” on items that deliver emotional or functional value. He said U.S. confectionery category retail takeaway accelerated in 2025, and confection was the third-fastest-growing U.S. snacking category for the year behind nutritional bars and meat snacks.CFO Steve Voskuil said consolidated 2025 net sales were approximately $11.7 billion, up 4.4% year over year, with organic constant currency growt ...

Core Viewpoint - Hershey Company demonstrates strong financial performance with a notable increase in stock price following its quarterly earnings announcement, reflecting investor confidence and growth potential in the confectionery industry [2][3][4]. Financial Performance - Hershey's stock rose from a closing price of $205.79 to a last traded price of $220.93 after the earnings announcement, with a trading volume exceeding 1.5 million shares [3]. - The company reported quarterly revenue of $3.09 billion, surpassing the anticipated $2.97 billion, marking a 7% increase compared to the same period last year [4]. - Earnings per share (EPS) were reported at $1.71, exceeding analysts' expectations by $0.31 [3][6]. - Hershey achieved a net margin of 11.84% and a return on equity of 32.08%, indicating strong financial health [4][6]. Future Guidance - For fiscal year 2026, Hershey has set an EPS guidance range of 8.20 to 8.52 [5]. - The company announced an increase in its quarterly dividend, which is scheduled to be paid on March 16th [5]. Market Position - Morgan Stanley has set a new price target for Hershey at $238, indicating a potential increase of about 3.42% from the current stock price of $230.12 [2][6]. - Hershey competes with major players in the confectionery industry, including Mars, Nestlé, and Mondelez International [1].

Group 1: Bitcoin Market Dynamics - Bitcoin has experienced a significant decline, down 13% this week and 27% over the past month, with its value dropping from a peak of over $126,000 to below $63,000 [4][5] - The selling pressure was exacerbated by leveraged positions being forced to liquidate, indicating Bitcoin's status as a risk asset rather than a stable currency [6] - The volatility in Bitcoin reflects broader market concerns about overvaluation and risk allocation in investment portfolios [3][6] Group 2: Software Stocks and AI Impact - Software stocks have seen substantial declines, with major players like Microsoft down 7%, Adobe down 10%, and Oracle down 16%, driven by fears that AI advancements may render many companies obsolete [10][15] - New AI tools announced by companies like Anthropic and Google have contributed to market anxiety, leading to a sell-off in related stocks [7][10] - The market is grappling with the dual concerns of high capital expenditures on AI that may not yield expected returns and the potential for AI to disrupt entire industries [16][18] Group 3: Earnings Reports and Market Reactions - Alphabet reported an 18% revenue increase and a 48% growth in cloud revenue, but its stock fell due to high capital expenditure predictions for 2026, which could consume a significant portion of its profits [12][13] - Amazon's projected capital expenditures for 2026 are also high, at $200 billion, representing 28% of its revenue and 256% of its net income, raising concerns about sustainability [14][15] - Hershey's stock rose 9% after beating earnings expectations and raising guidance, reflecting a shift towards more resilient consumer staples amid economic uncertainty [27][28] Group 4: Economic Indicators and Job Market Concerns - Recent job market data indicates rising initial jobless claims and the lowest job openings since September 2020, suggesting a weakening labor market [31][32] - Layoffs announced by major companies like Amazon and UPS contribute to a pessimistic outlook for upcoming job reports [32][33] - The defensive rotation in the market is evident as investors seek stability in traditional sectors like consumer staples and healthcare, moving away from riskier tech assets [26][31]

2026.02.06 本文字数：839，阅读时长大约1分钟 好时的主营业务为巧克力，而巧克力的主要原料是可可。中华人民共和国商务部商品价格网显示，可可 （纽约）的价格自2024年第二季度以来有所上升，2024年末至2025年初一直维持在高点。整体来看， 2025年的价格高于2024年，因此，这也是拉低毛利率和净利润的因素之一。不过，进入2026年以来，可 可价格已有所下滑。 好时对2026年的业绩有着较正面的展望，预计营业收入增长4%-5%，每股收益增长79%至89%。 1907年，被誉为美国巧克力工业标志的好时KISSES巧克力诞生，于1995年进入中国市场。 目前，全球零食市场渐渐呈现出"大鱼吃小鱼"的竞争格局。好时于2013年收购上海金丝猴食品股份有限 公司80%的股份。2016年，亿滋曾经发起对好时的收购，被好时信托（好时的控股股东）阻止。2024 年，亿滋再次向好时发出收购要约，但最终因为价格没谈拢而告吹。 微信编辑| 苏小 第一财经持续追踪财经热点。若您掌握公司动态、行业趋势、金融事件等有价值的线索，欢迎提供。专 用邮箱：bianjibu@yicai.com （注：我们会对线索进行核实。您的隐私将 ...

好时对2026年的业绩有着较正面的展望，预计营业收入增长4%-5%，每股收益增长79%至89%。 2026.02. 06 本文字数：839，阅读时长大约1分钟 作者 | 第一财经 揭书宜 巧克力制造商好时(HSY.US)发布的年报业绩显示，截至2025年12月31日的12个月内，公司营业收入116.9亿美元（约合811.3亿元人民币），同比增长 4.38%；归母净利润8.83亿美元（61.3亿元人民币），同比减少60.2%。 单看2025年第四季度，公司营业收入30.9 亿美元（214.4亿元人民币），同比增长7.0%。归母净利润为3.2亿美元（22.2亿元人民币），同比下降 59.9%。 好时2025年全年的毛利率33.5%，上年同期为47.3%。2025年第四季度报告毛利率下降17个百分点至37.0%。公司在财报中表示，毛利率下降是因为报 告期内有着较往年更高的商品成本、更高的关税费用和更低的销量。 好时的主营业务为巧克力，而巧克力的主要原料是可可。中华人民共和国商务部商品价格网显示，可可（纽约）的价格自2024年第二季度以来有所上 升，2024年末至2025年初一直维持在高点。整体来看，2025年的价格 ...

巧克力制造商好时发布的2025年度业绩显示，截至2025年12月31日的12个月内，公司实现营业收入 116.9亿美元，约合811.3亿元人民币，同比增长4.38%；归母净利润8.83亿美元，约合61.3亿元人民币， 同比减少60.2%。 单看2025年第四季度，好时营业收入达30.9亿美元，约合214.4亿元人民币，同比增长7.0%；归母净利 润为3.2亿美元，约合22.2亿元人民币，同比下降59.9%。 好时2025年全年毛利率为33.5%，上年同期为47.3%；2025年第四季度毛利率下滑17个百分点至37.0%。 公司在财报中表示，毛利率下滑源于报告期内商品成本、关税费用较往年更高，叠加销量下滑的影响。 公开资料显示，1907年好时标志性产品KISSES巧克力诞生，1995年进入中国市场。好时于2013年收购 上海金丝猴食品股份有限公司80%的股份。2016年，亿滋曾经发起对好时的收购，被好时信托（好时的 控股股东）阻止。2024年，亿滋再次向好时发出收购要约，但最终因为价格没谈拢而告吹。 市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 作者： ...

巧克力制造商好时(HSY.US)发布的年报业绩显示，截至2025年12月31日的12个月内，公司营业收入116.9亿美元（约合811.3亿元人民币），同比增长 4.38%；归母净利润8.83亿美元（61.3亿元人民币），同比减少60.2%。 全球零食市场渐渐呈现出"大鱼吃小鱼"的竞争格局。 好时的主营业务为巧克力，而巧克力的主要原料是可可。中华人民共和国商务部商品价格网显示，可可（纽约）的价格自2024年第二季度以来有所上升， 2024年末至2025年初一直维持在高点。整体来看，2025年的价格高于2024年，因此，这也是拉低毛利率和净利润的因素之一。不过，进入2026年以来，可可 价格已有所下滑。 好时对2026年的业绩有着较正面的展望，预计营业收入增长4%-5%，每股收益增长79%至89%。 1907年，被誉为美国巧克力工业标志的好时KISSES巧克力诞生，于1995年进入中国市场。 目前，全球零食市场渐渐呈现出"大鱼吃小鱼"的竞争格局。好时于2013年收购上海金丝猴食品股份有限公司80%的股份。2016年，亿滋曾经发起对好时的收 购，被好时信托（好时的控股股东）阻止。2024年，亿滋再次向好时发出收购要 ...

Market Overview - U.S. equities faced a challenging day on February 5, 2026, with significant sell-offs in technology stocks and negative job market reports impacting investor sentiment [1] - The S&P 500 fell 1.2% to close at 6,798.40, marking its sixth decline in seven trading days since reaching an all-time high [2] - The Nasdaq Composite dropped 1.6% to 22,540.59, while the Dow Jones Industrial Average decreased by 1.2% to 48,908.72 [2] - Bitcoin prices fell below $64,000, reaching their lowest level since October 2024, further exacerbating the downturn [2] Major Market Movers and Corporate News - Alphabet (GOOGL) saw a decline of 0.8% despite stronger-than-expected sales, as investors were concerned about projected capital expenditures for AI infrastructure, estimated at $175 billion to $185 billion for 2026, nearly double the $91.45 billion spent in 2025 [3] - Qualcomm (QCOM) experienced an 8.5% drop due to a disappointing outlook, citing a tightening global memory shortage affecting the smartphone market [4] - Advanced Micro Devices (AMD) fell sharply by 17.3% on a weak outlook, contributing to the semiconductor sector's struggles [4] - Uber Technologies (UBER) declined by 5.2% after missing earnings expectations, while Amgen (AMGN) surged 8.2% on positive earnings results [5] - Eli Lilly (LLY) jumped 10.3% due to strong sales of its drugs, and McKesson (MCK) soared 16.5% after exceeding profit and revenue expectations [5] - Peloton Interactive (PTON) plummeted 28% after reporting weaker-than-expected results, while Estee Lauder (EL) and Snap (SNAP) retreated by 19% and 12%, respectively [6] Job Market Developments - Amazon (AMZN) announced plans to cut approximately 16,000 corporate roles, while UPS revealed 30,000 job cuts [7] - Dow (DOW) reduced its workforce by 4,500 jobs, with Home Depot (HD) and Nike (NKE) also making cuts [7] Economic Indicators - Initial jobless claims for the week ending January 31 rose to 231,000, exceeding economists' estimates [9] - U.S. employers announced over 108,000 layoffs in January, the highest for that month since 2009, with job openings falling to 6.5 million in December, the lowest since 2020 [9] - The Consumer Price Index rose 2.7% over the year in December, indicating persistent inflation despite potential interest rate cuts by the Federal Reserve [10] Upcoming Market Events - Investors are awaiting the release of January U.S. Non-Farm Payrolls, Unemployment Rate, and Average Hourly Earnings data on February 6, which will provide further insights into the labor market [8]

PresentationAnoori NaughtonVice President of Investor Relations Good morning, and welcome to the prerecorded discussion of the Hershey Company's Fourth Quarter 2025 Earnings Results. I'm Anoori Naughton, Vice President of Investor Relations. Joining me today are Hershey's President and CEO, Kirk Tanner, and Hershey's Senior Vice President and CFO, Steve Voskuil. In addition to these remarks, we will host an analyst Q&A-only session at 08:30 a.m. Eastern on the morning of February 5. A replay of this webcast ...