The company, which sells cereals overseas, got off to a bumpy start on its first day of trading after splitting off from Kellogg’s North American cereal business.The company's Sphere entertainment venue opened over the weekend in Las Vegas with the first of a series of concerts from U2.Deliveries of electric vehicles surged 27% over the summer from last year, but still fell below analyst projections.
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Kellanova CEO on Kellogg's split: 'Our innovation pipeline is robust'As of today, Kellogg's has split into two entities: Kellanova (K) and WK Kellogg Co. (KLG). Kellanova's spinoff will take charge of the company's global snack segment, while WK Kellogg will be focused on its North American cereal brands. Kellanova CEO Steve Cahillane — originally the Kellogg CEO before the spinoff — joins Yahoo Finance Executive Editor Brian Sozzi at the New York Stock Exchange to discuss the reasons behind the change and what both consumers and investors can expect from each company going forward. 'We really think that the best way forward for our cereal business is for [WK Kellogg Co.] to be a dedicated team focused on North American cereal with their own strategy, balance sheet, and access to capital,' Cahillane says. When asked about inflation and what it means for the new company moving forward, Cahillane says 'As we stare into 2024, luckily, we're not looking at that same input cost inflation... We'll have the benefits of pricing that we took this year, but as we look at next year, we're looking at a much better balance between volume and price.' For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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