TOP STORIES

Restaurant Brands Shares Rise on Sales, Dividend News -- Market Talk

10:38 ET - Shares of Restaurant Brands International rally 7% after the company pre-announced that same-stores at its Burger King, Tim Hortons and Popeyes chains rose globally in 4Q, beating analyst expectations. The company also raised its dividend and said its longtime CEO, Daniel Schwartz, has been promoted to executive chairman. He will take a more active role as a partner at 3G Capital, the Brazilian private equity firm that bought Burger King in 2010 and later merged it with Tim Hortons to create Restaurant Brands. He will remain involved in RBI and will focus on major strategic initiatives, which some investors interpret to mean that RBI will be looking to do more deals. Jose Cil, Burger King's longtime president, has been promoted to CEO of RBI. (julie.jargon@wsj.com)

STORIES OF INTEREST

General Mills Recalls One Lot of Gold Medal Flour on Salmonella Concerns -- 2nd Update

General Mills Inc. (GIS) has recalled one lot of Gold Medal Unbleached Flour due to the potential presence of salmonella, although the company hasn't received any reports of confirmed illnesses.

The recall includes five-pound bags with a "better if used by" date of April 20, 2020.

Papa John's Names Marvin Boakye Chief People Officer

Papa John's International Inc. (PZZA) said Wednesday it named Marvin Boakye as its first chief people officer, serving as a member of the company's executive leadership team and reporting to president and chief executive Steve Ritchie.

The Louisville, Ky.-based pizza delivery company said in a release that Mr. Boakye replaces senior vice president of people operations Bob Smith, who retired from Papa John's in August 2018.

Ahold Delhaize 4Q Net Sales Rose 5% on Strong Performance

Koninklijke Ahold Delhaize NV (AD.AE) said on Wednesday that fourth-quarter net sales rose 5%, citing a strong performance across the period.

The Dutch retailer said net sales in the three months ended Dec. 30 rose to 16.5 billion euros ($18.7 billion), from EUR15.8 billion in the year-earlier period.

FUTURES MARKETS

Livestock Futures End Mixed -- Market Talk

15:13 ET - CME hog futures fall 1.9% while cattle futures gain 0.3%. As a winter storm hits the Midwest, Rich Nelson of Allendale brokerage says that hog processing plants are seeing reduced kill numbers amid large supplies. "They already have too many showing up at their front door," Nelson says, adding that the inclement weather will likely weigh on slaughter rates in the next several weeks, as transportation issues could also affect the number of employees able to get to work. (francesca.fontana@wsj.com; @francescamarief)

CASH MARKETS

 
Estimated U.S. Pork Packer Margin Index - Jan 23 
 
All figures are on a per-head basis. 
 
Date     Standard Margin       Estimated margin 
         Operating Index         at vertically - 
                             integrated operations 
Jan 23       +$ 25.78            +$ 11.92 
Jan 22       +$ 29.24            +$ 14.50 
Jan 21       +$ 30.77            +$ 16.58 
 
* Based on Iowa State University's latest estimated cost of production. 
A positive number indicates a processing margin above the cost of production of the animals. 
 
Beef-O-Meter 
This report compares the USDA's latest beef carcass composite 
values as a percentage of their respective year-ago prices. 
 
                                 Beef 
          For Today             Choice  105.0 
      (Percent of Year-Ago)     Select  105.9 
 
USDA Boxed Beef, Pork Reports 
 

Wholesale choice-grade beef prices Wednesday rose 87 cents per hundred pounds, to $217.21, according to the USDA. Select-grade prices rose 32 cents per hundred pounds, to $212.04. The total load count was 134. Wholesale pork prices fell $1.20, to $67.28 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

January 23, 2019 17:40 ET (22:40 GMT)