The risks to alcohol and food stocks from Ozempic-like weight loss drugs

 The risks to alcohol and food stocks from Ozempic-like weight loss drugs

 The rise of new anti-obesity medications could result in less alcohol consumption, impacting Club name Constellation Brands

 (STZ). The risk already seems to be playing out in food stocks with exposure to snacks and junk food. However, if necessary, the Mexican beer powerhouse behind Corona, Modelo and Pacifico could take action to mitigate any demand pressures.

Starbucks (SBUX) has wrongly become a “hated stock,” amid concerns about the coffee chain’s growth opportunities in China, CNBC’s Jim Cramer said Thursday.

“I think that’s a mistake to hate it,” Cramer said on “Squawk on the Street.” His Charitable Trust, the portfolio used by the CNBC Investing Club, owns shares of Starbucks.

Cramer’s comments Thursday come after Seattle-based Starbucks announced 7.6% increase to its quarterly dividend, bringing its annual payout to $2.28 per share. That translates to a yield around 2.4%, based on Wednesday’s closing price of $95.16 per share.

company. In the three months ended July 2, China accounted for about 9% of Starbucks’ overall revenue.

“I’ve not seen anything that indicates Starbucks is being hurt in China,” Cramer said Thursday, adding that he’s less worried than others about the growth of local rival chains, such as Luckin Coffee. “They have so many more Starbucks that they can put up. It’s not like people aren’t going to Starbucks.”

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Shares of Starbucks have fallen nearly 18% since notching a 52-week high of $115.48 on May 1. One overhang on the stock over that stretch has been its bet on China, a key growth market for the

Here are some of the tickers on my radar for Thursday, Sept. 21, taken directly from my reporter’s notebook:

• Club name Starbucks (SBUX) increases its dividend by 4 cents per share to 57 cents. Payable Nov. 24 to shareholders of record on Nov. 10. This has become a hated stock because of China concerns. But It should not be hated.
• Stifel raised price target on Jabil (JBL) to $120 per share from $115. Keeps buy rating. The company manufactures for Club name Apple (AAPL) in India for AirPods.
• Update on three big recent IPOs: Klaviyo (KVYO) debuted up 9% (up more than 20% at one stage) on Wednesday; up more than 1% the next day. Instacart (CART) debuted up 12% on Tuesday; sank 11% the next day; up 4% on Thursday. Arm Holdings (ARM) debuted up nearly 25% last week; then went on a five-session losing streak, falling below $51 offering price early Thursday.
• International Paper (IP) upgraded to buy from hold at Truist, which also raised its price target to $43 per share from $30.
• KB Homes (KBH) quarter: EPS $1.80 versus $1.43 expected. Revenue $1.59 billion versus $1.48 billion expected. Average selling price $466,300 versus $508,700 in the year-ago period.

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• Morgan Stanley cuts price target on General Mills (GIS) to $58 per share from $72. Keeps sector perform (hold) rating. Volume flat. Cost inflation pass through shift to larger product sizes.
• Bank of America cuts Enphase Energy (ENPH) price target to $114 per share from $135. Keeps underperform (sell) rating) on worsening California demand. Seaport Research upgrades ENPH to buy from neutral on overall residential solar recovery.
• Marriott (MAR) price target raise to $225 per share from $215. Keeps buy rating.
• Susquehanna says Carnival (CCL) healthy Q3.
• Citi raises price target on SLB (SLB) to $70 per share to $66.
• Citi research analysts cut their price target on Goldman Sachs (GS) to $380 per share from $400. Keeps neutral rating.
• Barclays raises CSX (CSX) price target to $40 per share from $38. Demand still soft.