Danone, Nestlé shares continue to slide after baby formula warnings [Yahoo! Finance]
DANONE S/ADR (DANOY)
NASDAQ:AMEX Investor Relations:
danone.com/en/for-you/investors/investor-center/investor-relations-contacts
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Source: Yahoo! Finance
At around midday in Europe, Danone shares were down 0.48%, while Nestlé shares slipped 0.33%. A number of national authorities have issued their own warnings after an initial recall announcement from Danone last Friday. The French firm said it was pulling “a very limited number of specific batches” of baby formula from the market, linked to fears that they could be contaminated with a dangerous toxin. Cereulide, the substance in question, can cause nausea and vomiting. The recall came after Nestlé, one of Danone's competitors, announced earlier in January that it would be pulling specific batches of its infant formula from shelves. This global action followed a smaller recall in December, when cereulide was first found in a Nestlé factory in Nunspeet, the Netherlands. Analysts estimate that the recall could cost Nestlé over €1bn, although the firm has said that it does not forecast a significant financial hit. Even so, the company will be working to improve its public image
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