Kellogg's is targeted for a takeover by Ferrero.

0:00 Speaker 1 Sunday morning, John Cherritt is with us. What happened in the markets last week?

0:05 Speaker 2 John tell us, Good morning, John. Well, you cannot get more of an American company than W. K. Kellogg based in Michigan. It was founded in nineteen oh six in Battle Creek. It was founded by a conservationist, a leading philanthropists, and a well being visionary. Yeah, that reminds me of somebody.

0:24 I can’t quite think who it is. Anyway. On Thursday, WK Kellogg shares were up by thirty percent. They make rice crispies and special k and fruit loops and other breakfast delights. But they’re being targeted by Ferraro of Italy.

0:37 Now they make Ferrero Roche chocolates and also into tellers spread. It’s a three point one billion dollar takeover bid, but it does need approval by American regulators. And it’s worth pointing out that kelen Nova, Okay, Kelenva, which is the other Kellogg company they were spun off a couple of years ago, which makes springles and popped ups, that’s not

0:56 involved in the deal. And some late breaking news on Friday as well, Wall Street Journal reporting them craft Hines is looking for a big breakup, and that means that their share price was elevated as of Friday. Now, the other big story of the week airlines doing very well, led by Delta. They turned into very strong earning speed.

1:13 They restored their guidance for twenty twenty five, which Wall Street likes. So Delta was up twelve percent on Thursday, American two percent, United Airlines fourteen percent. But then on Friday, although on Thursday the S and P had hit a new record, on Friday the markets were down a bit.

1:26 They were rather rattled by more tariff warris And so to the week ahead, John Well, we’re really moving into second quarter earnings proper. Now this is a this for a list of US corporate big names. On Tuesday, earnings from JP Morgan, Chase, City, Wells, Fargo. We also get CPI, which is inflation, Wednesday, Gold and Sachs, Morgan, Stanley and

1:46 Bank of America, and we get wholesale inflation as well, PBI, Thursday, Netflix, the first of the big tech names, and on Friday American Express. And as they used to say, that’ll do nicely, John.

1:58 Speaker 1 Well, John Cherick, thank you for the update, and we’ll catch up with you again next week.

2:03 Speaker 2 Thank you John, seeing you that