Millennials are high on energy
Millennials—specifically the older Millennials in the 27–37 years age group—have emerged as the key consumers of energy drinks and shots. According to a recent survey by Mintel, 64% of the older Millennials are consuming energy drinks. About the same percentage of younger Millennials in the 18–26 year age group are consuming energy drinks. However, older Millennials are consuming more energy drinks.
According to Mintel, 29% of older Millennials consumed more energy drinks in the past three months—compared to 22% who consumed less. The trend reverses in the case of younger Millennials. The proportion of younger Millennials who are consuming more energy drinks is 16%, while 27% are consuming less.
The U.S. Census Bureau classifies the population in the 18–34 year age group as “Millennials.” According to the latest projections, Millennials are expected to grow to 75.3 million in 2015, surpassing the projected Baby Boomer population of 74.9 million. However, the proportion of Millennials is falling. In 2013, Millennials accounted for 23.4% of the US population—down from 23.7% in 2000 and 28% in 1990.
Millennials are important for energy drink makers
Millennials are a key demographic for energy drink makers like Monster Beverage (MNST) and Red Bull. Monster Beverage’s advertisements specifically target this tech-savvy demographic. Monster Beverage sponsors adventure sports, rock bands, and music concerts primarily to cater to the Millennial consumers. Millennials are also a key consumer category for soda giants Coca-Cola (KO) and PepsiCo (PEP). In January 2015, PepsiCo launched two new flavors under its Mountain Dew Kickstart brand to attract the young Millennials.
The US Bureau of Economic Analysis will be releasing an advance estimate of gross domestic product for the second quarter of 2015 on July 30, 2015.
Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.
The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.
Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.
Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.
As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.
Amazon is discontinuing its Amazon Restaurants service, which has been delivering food for restaurants in parts of the United States. Amazon Restaurants launched in the United States in 2015 and entered the British market the following year. However, it met strong opposition in the British market.