Hey Snackers,
We thought seltzer-ification had reached its limits with Natty Light seltzer. We were wrong: Hallmark (yes, the greeting card company) dropped a rosé seltzer.
Stocks ticked up for the short week. AMC shares rallied, but fell after the theater chain sold millions of shares and warned investors against buying its stock.
Dream on... This month marks the 90th anniversary of the American Dream — or at least, when the term was first coined. Historian James Truslow Adams described it as "that dream of a land in which life should be better and richer and fuller for every man, with opportunity for each according to ability or achievement." Ninety years later, thousands of Snackers told us whether they think the American Dream is still alive.
Lay down the stats... Generations of Americans have climbed the economic ladder for decades, but there are signs that economic mobility is waning. The fraction of Americans who earn more than their parents has shrunk from 90% of those born in the 1940s to 50% of those born in the 1980s. Income inequality in the US has been rising for decades, and is wider between Black and white Americans.
In your words... We asked what the American Dream means to you today:
The dream is what you make of it... For some, it aligns with Adams' first description: opportunity to succeed, regardless of your background. For others, it's a lie. And for some, it's changing: thanks to stimulus spending, US households have saved $2T more than they would have normally. In April, US household income was 11% higher than pre-pandemic levels. Biden's presidency could further shape this trajectory, with trillions in proposed spending on social initiatives.
What do you meme?... GameStop reports on Wednesday. ICYMI: GameStop shares have soared 1,400% this year as retail traders rallied around the money-losing video game company. Some are bullish about its new, ecomm-savvy board. But annual sales have fallen each year since 2017. In April, GameStop raised $551M by selling new shares and said its CEO is stepping down. Investors will likely be watching for signs of ecommerce progress.
After Cream of Mushroom Monday... and Tomato Bisque Tuesday: Campbell Soup serves up earnings on Wednesday. The canned soup legend thrived early in the pandemic, as people stocked up on Campbell classics like Snyder's pretzels and Goldfish. After nearly a decade of falling sales, Campbell's soup sales started growing again. But growth has slowed as we return to a lifestyle that involves less can-hoarding. Campbell is trying to keep momentum going with Millennial-friendly recipes — we'll see if it's succeeding.
Recovery is chugging along... Jobless claims fell to a new pandemic low, and wages are growing. On the flip side: prices are rising faster than expected as the US economy revs up and shortages abound. Prime example: Ubers are getting pricier (and they're always 24 minutes away). Companies are struggling to bring workers back, since 42% of people on enhanced unemployment earn more than they did at their jobs.
Crypto ransoms intensify... Cyber attacks are continuing to target critical infrastructure. Last week, Earth's largest meat producer was forced to shut beef plants after a ransomware attack. Last month, the US' largest fuel pipeline was also hit — and paid $4.4M in Bitcoin to reclaim its systems. Experts believe Russia is funding "the ransomware plague." We'll be looking to see if the US government takes a stronger stance. President Biden meets with Russian president Putin next week.
ID: 1675427