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[ad_1] The snack aisle is seen during a tour of a new Amazon Go store in the Capitol Hill neighborhood of Seattle, Washington, U.S., on Monday, Feb. 24, 2020. Chona Kasinger | Bloomberg | Getty Images For more than a century, frosted cornflakes have been the backbone of Kellogg's business. That changes Monday, when the company will spin off its stable cereal business in favor of its faster-growing snack unit and rename itself Kellanova . The spinoff comes weeks after another wager that consumers will graze between meals, when J.M. Smucker bought Twinkie maker Hostess Brands for $5.6 billion in a bid to expand its snack lineup. But food companies' major bets on snacking come as investors fear the looming danger of Big Pharma's blockbuster obesity and diabetes drugs Wegovy and Ozempic. Many investors have high hopes for the pharmaceuticals' future, but their success could mean slower sales for the companies that produce Oreos, Doritos and Hershey's Kisses. Bi

[ad_1] Limited Edition holiday breakfast cereal, Christmas Crunch in holiday shapes, Target store, Queens, New York. (Photo by: Lindsey Nicholson/UCG/Universal Images Group via Getty Images) Lindsey Nicholson | Getty Images Two big companies weighed in on persistent demand woes this week. General Mills , which reported earnings Wednesday morning, said tepid demand and pricing pressures are compounding problems for the Dunkaroos and Bisquick maker. That echoed what FedEx said in its report after the bell Tuesday. FedEx shares fell 12% on Wednesday, on pace for its worst day in 15 months, while General Mills' stock slipped more than 3%. And, just like FedEx, General Mills trimmed its full-year sales outlook. With two quarters remaining in the Cheerios producer's fiscal year, the company now sees revenue down 1% to flat, compared with previous guidance of a 3% to 4% increase. General Mills is also cutting the high end of its earnings guidance due to the lower demand foreca

[ad_1] 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. The weight-loss benefits of diabetes drugs such Novo Nordisk 's (NOVO) Ozempic and Club holding Eli Lilly 's (LLY) Mounjaro may turn out to be a headwind to not only alcohol makers — but also soda, snack food and fast-food companies. Novo Nordisk has already gotten U.S. regulatory approval for the active ingredient in Ozempic, semaglutide, to be prescribed to combat obesity. For weight loss, it's marketed under the name Wegovy. The active ingredient in Mounjaro, tirzepatide, is expected to get anti-obesity approval as soon as later this year. STZ YTD mountain STZ year-to-date performance. We don't thi