Stocks of both former-Kellogg Kellanova, and new WK Kellogg drop on first day after separation completed

Kellanova K, -6.70%, formerly known as Kellogg Co., didn’t receive a warm reception on the first day as a snacks, frozen foods and international cereals company, and the new North America cereals business WK Kellogg Co. KLG, -1.46% didn’t either, as the new stocks dropped on their first day of trading following the completion the separation into two independent public companies. Kellanova’s stock, which was trading under the previous Kellogg ticker of “K,” fell 4.

5% in morning trading, while WK Kellogg’s stock under the new ticker “KLG” was down 7.1%. “As a standalone company, Kellanova will benefit from greater operational focus and fit-for-purpose strategy and resource allocation, investing behind its differentiated brands in an effort to deliver consistently strong net sales and earnings growth over time,” said Kellanova Chief Executive Steve Cahilane. The stocks’ declines come as the S&P 500 SPX, -0.12% ticked up less than 0.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks of both former-Kellogg Kellanova, and new WK Kellogg fall on first day after separation completedKellanova formerly known as Kellogg Co., didn’t receive a warm reception on the first day as a snacks, frozen foods and international cereals company, and...
Source: MarketWatch - 🏆 3. / 97 Read more »

Kellogg's cereal business begins trading as standalone company W.K. KelloggAs part of the separation, Kellogg has been renamed Kellanova but is still trading under the ticker “K.”
Source: NBCLA - 🏆 319. / 59 Read more »

Kellogg's cereal business begins trading as standalone company WK KelloggAs part of the separation, Kellogg has been renamed Kellanova but is still trading under the ticker 'K.'
Source: CNBC - 🏆 12. / 72 Read more »

These are the top 4 Club stocks — and the bottom 4 — during the third quarterEli Lilly (LLY) was the best-performing Club stock over the past three months, while Foot Locker (FL) was the worst in Q3.
Source: CNBC - 🏆 12. / 72 Read more »

These 4 Stocks Will Thrive Even if There’s a RecessionSterling Infrastructure and other obvious beneficiaries of massive governmental spending have already seen their stocks surge in anticipation. Here are some...
Source: MarketWatch - 🏆 3. / 97 Read more »

Equities Q4 Fundamental Outlook: Fed Rate Outlook to Weigh on StocksUS equities defied logic for the first half of 2023 but has shown signs of concern more recently as the Fed makes its final policy adjustments before attempting to dismount from its aggressive rate hiking campaign
Source: DailyFX - 🏆 305. / 63 Read more »