Company News

BUZZ-Beyond Meat cooks as meat-free burger demand outstripping supply - report

** Vegan burger maker Beyond Meat Inc rises as much as 7% to $102.76 in early Tues trade. Stock recently up 4.3% at $100.26, quadruple its $25 IPO price

** WSJ reports here fast-food restaurants are rushing to add meat-free burgers to their menus to help drive additional traffic, but there aren't enough to go around

** BYND and Impossible Foods straining to meet rapid growth in demand, though investors believe the cos will be able to bring plant-based products to the masses, says WSJ

** On Thurs, a report said KFC meeting with major plant-based meat makers to discuss what a vegan version of fried chicken could look like, citing KFC U.S. president

** On Weds, BYND surged 13% after McDonald’s Corp CEO Steve Easterbrook said buzz surrounding plant-based meat substitutes “doesn’t feel like a fad”, adding that MCD is “keeping a close eye on the market”

** And BYND jumped 8% last Tues after it announced plans to start production in Europe next year

** BYND has been on a dizzying ascent since its May 2 debut. Stock has soared 50% from its first-day close and hit peak of $108.67 in yesterday’s session

** Co set to report its first qtrly results as a public entity on Thurs, Jun 6, AMC

** Analysts on average expect BYND to post Q1 adj loss/sh of 15 cents on $39.05 mln of rev - Refinitiv IBES data