{"id":118473,"date":"2019-10-29T20:51:00","date_gmt":"2019-10-29T20:51:00","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=118473"},"modified":"2019-10-30T00:30:27","modified_gmt":"2019-10-30T00:30:27","slug":"118473-2","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/118473-2\/","title":{"rendered":"Food stocks grilled on weak outlooks"},"content":{"rendered":"

The TSX and American indices dipped slightly on Tuesday, except Nasdaq which fell o.59% as earning season continued. Two food stocks got grilled. Beyond Meat<\/a> was burned for 22.22% after restrictions<\/a> on selling 80% of it shares was lifted on Monday, even though the stock turned its first-ever profit.<\/p>\n

There were also fears of rising competition and an announcement of lower prices on its celebrated meatless products in order to compete. Even worse, Grubhub<\/a> plunged 43.30% after issuing a terrible forecast<\/a> and missing earnings. Profits dropped 94%. The company blamed “promiscuous customers” who kept bouncing to other competitors for food (not any other appetite). Alphabet<\/a> didn’t fare nearly as bad, down 2.12% after an earnings<\/a> miss.<\/p>\n

Similarly, Canadian tech juggernaut Shopify<\/a> slid 3.17% after it reported a surprise earnings loss<\/a> in the face of increased spending up to US $1 billion to expand its network, including fulfillment centers across the States. Its shares have fallen nearly 25% since its late-August high of $543.76. Tuesday wasn’t only about bad news. Despite ongoing strikes, GM<\/a> was actually up 4.28% after an earnings<\/a> beat. However, the strikes casts an ongoing cloud over the carmaker’s future earnings.<\/p>\n

🥩 Beyond Meat Inc.<\/a> -22.22%
\n🛺 GrubHub Inc<\/a> -43.30%
\n🌐 Alphabet Inc. \/ Google (GOOG-Q)<\/a> -2.12%
\n🏂 Shopify Inc.<\/a> -3.17%
\n🚘 General Motors Corporation<\/a> +4.28%<\/p>\n","protected":false},"excerpt":{"rendered":"

The TSX and American indices dipped slightly on Tuesday, except Nasdaq which fell o.59% as earning season continued. Two food stocks got grilled. Beyond Meat was burned for 22.22% after restrictions on selling 80% of it shares was lifted on […]<\/p>\n","protected":false},"author":12,"featured_media":345019,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[330,28,332,234,333,39,171,331],"class_list":["post-118473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily","tag-cars","tag-earnings","tag-labour-strikes","tag-meatless","tag-profits","tag-tech","tag-tech-stocks","tag-vegan"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/118473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=118473"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/118473\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/345019"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=118473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=118473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=118473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}