Markets
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Luke Kawa

Archer-Daniels-Midland drops as Trump claims Coca-Cola will use “REAL Cane Sugar”

Archer-Daniels-Midland is slumping and Coca-Cola is modestly higher after President Donald Trump touted his alleged progress in changing a key ingredient in one of America’s most iconic beverages.

“I have been speaking to Coca-Cola about using REAL Cane Sugar in Coke in the United States, and they have agreed to do so,” the president wrote in a Truth Social post. “I’d like to thank all of those in authority at Coca-Cola. This will be a very good move by them — You’ll see. It’s just better!”

Coca-Cola did not confirm this news, but rather said that it appreciated the president’s enthusiasm and would offer “more details on new innovative offerings” soon.

Archer-Daniels-Midland produces, among other things, high-fructose corn syrup, which is right behind “carbonated water” in the list of Coca-Cola Original ingredients. Its starches and sweeteners business booked $207 million in operating profit in Q1, down 21% from a year earlier, and accounted for about 28% of total operating profits in the first three months of 2025.

The president did not say that Coke would no longer be using any corn syrup in its American formulation of Coca-Cola.

High-fructose corn syrup, which is cheaper than cane sugar in the US thanks in large part to government subsidies, has been a target of health advocates, who contend that its low price point leads to a wider array of inexpensive, unhealthy processed foods on the market. Some consumers, including many in the so-called “Make American Healthy Again” coalition, contend that high-fructose corn syrup is inextricably less healthy than cane sugar, despite the two ingredients being chemically nearly identical.

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Helena Cheng

Lululemon’s stretch getting tested: Stock plunges after after outlook is cut

Lululemon shares are down double digits in premarket trading after the company cut its full-year sales and profit outlook, overshadowing a Q1 beat and raising fresh concerns about the brand’s turnaround efforts.

The company now expects fiscal 2026 revenue to be flat to down 1%, compared with its prior forecast for 2% to 4% growth. Guidance for full-year diluted earnings per share was dragged down to a range of $10.95 to $11.15, below the company’s previous guidance of $12.10 to $12.30 and well below Wall Street’s estimate of $13.26.

Key numbers for Q1:

  • EPS of $1.69 vs. the $1.68 expected.

  • Revenue of $2.47 billion vs. the $2.43 billion expected.

The modest top-line beat masked a widening divergence between Lululemon’s geographic markets. While international revenue rose 22% overall with a 30% increase in Mainland China, the bigger problem remains North America, where revenue fell 5%.

Interim co-CEO and CFO Meghan Frank acknowledged during the earnings call that recent product rollouts underperformed. A highly anticipated yoga campaign failed to generate its expected “halo effect” across broader product lines.

Profitability metrics took a major hit, with gross margins contracting by 410 basis points to 54.2% due to mounting tariff costs and promotional markdowns. Operating income consequently fell 37% year over year to $276.9 million.

“We experienced spikes of negative commentary in the media and on social channels with regard to our brand, which had an impact on traffic and overall top-line performance,” Frank said during the earnings call. “And second, not all of our product launches have met our expectations. While we have had several successful launches so far this year, we have seen others as we start Q2 not generate the anticipated guest response.”

Lululemon’s valuation has already been steadily compressing for years. While it was once one of retail’s richly valued stocks, investors have been questioning whether the company can return to the double-digit growth era.

The results also arrive during a leadership transition. Lululemon announced back in April that former Nike executive Heidi O’Neill is set to take over as CEO in September, with investors looking to her to revive growth in North America and restore the brand’s growth.

As Lululemon faces both macroeconomic pressure and brand-specific challenges, its stock has dropped around 40% year to date.

markets
Paige Oamek

US job growth skyrocketed in May, blasting past expectations

The US economy added 172,000 jobs in the month of May, the Bureau of Labor Statistics reported Friday, sending 10-year Treasury yields higher.

The strong May job market surprised economists. Experts had predicted only 85,000 new jobs — just half the reported number. The unemployment rate held steady at 4.3%, as expected.

The job growth story is a hopeful spot for the economy as consumers continue to feel inflationary pressure from the Iran war.

Job gains were buoyed by the leisure and hospitality sector, which added 70,000 jobs, as well as local government, healthcare, and education.

Both the March and April jobs reports were revised upward, making them collectively 93,000 higher than previously reported.

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