The fallout continued Friday for National Beverage as the LaCroix maker's shares tanked following an earnings release on Thursday that blamed the company's dropoff in profit and sales on 'injustice.'
The fallout continued Friday for LaCroix maker National Beverage following the CEO's bizarre explanation for the company's dismal earnings. Investment firm Guggenheim also issued a rare"sell" rating on the stock.
CEO Nick Caporella blamed the weak performance on"injustice!" in a statement issued with the earnings report. Without addressing Caporella's unusual comments, Guggenheim recommended investors sell their shares and lowered its price target from $72 a share to $45, according to a research note published Friday when the stock was trading at around $54. Analysts led by Laurent Grandet cited rising competition in the flavored carbonated water industry and a drop in social media buzz about LaCroix for their decision to cut the rating.
A lawsuit filed in October accused the popular sparkling water company of mislabeling its products as all-natural, sending National Beverage Shares lower that day. The suit claimed that LaCroix included non-natural and synthetic compounds in its seltzer.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
CEO of LaCroix maker blames weak financials on ‘injustice’“Negligence nor mismanagement nor woeful acts of God were not the reasons – much of this was the result of injustice!” said National Beverage CEO Nick Caporella.
Weiterlesen »
LaCroix maker's CEO blames poor performance on 'injustice' in truly bizarre statementLaCroix maker's CEO blames poor performance on 'injustice' in truly bizarre statement via CNBCMakeIt
Weiterlesen »
LaCroix maker’s CEO blames ‘injustice’ for poor sales, compares job to caring for a handicapped personNational Beverage Corp. Chief Executive Nick Caporella, who has never quite stuck to the earnings-report script, deviated from the path in a much more extreme way Thursday.
Weiterlesen »
LaCroix maker’s CEO compares job to caring for a handicapped person, blames ‘injustice’ for poor salesWhen the CEO of LaCroix's parent company said that his job was like 'caring for someone who becomes handicapped,' he meant that “it just requires a lot of tender, loving care,” a spokesman told MarketWatch.
Weiterlesen »
CEO of LaCroix maker blames 'injustice' for plummeting sales and promises that customers will remain loyal to the 'LaLa feeling' the drink providesThe CEO of LaCroix's parent company offered a bizarre apology on Thursday after sales plummeted in the most recent quarter.
Weiterlesen »
The Fortune 500 is expected to gain another female CEOIt's likely that Old Navy CEO Sonia Syngal will stay with the company as it spins off from Gap Inc.
Weiterlesen »
YouTube CEO does damage control after advertisers flee over pedophilia scandalYouTube CEO goes on damage control after advertisers flee over pedophilia scandal
Weiterlesen »
Disney slashes CEO Bob Iger's potential bonus by $13.5 million ahead of Fox mergerDisney amended its compensation agreement with CEO Bob Iger on Monday, reducing his overall opportunities for bonuses in the company's $71 billion deal to merge with Fox's media operations.
Weiterlesen »
Disney CEO Bob Iger sees his potential pay cut by $13.5 million'Jesus Christ himself isn't worth 550x his median worker's pay,' Disney heiress Abigail Disney shares her view that CEOs 'in general are paid far too much' days after Disney CEO Bob Iger saw a $13.5 million pay reduction.
Weiterlesen »