BOISE, Idaho — Shares of Micron Technology Inc. fell more than 6 percent on Monday, extending pressure on memory-chip makers as investors reacted to broader technology-sector weakness, disappointment over a major peer’s capital-return plans and caution ahead of key industry earnings.

Micron stock traded at $906.48 in midday action, down $60.30 or 6.24 percent, according to market data from Aug. 24. The decline came amid a selloff that also hit other semiconductor names, including rivals in the high-bandwidth memory space that powers artificial-intelligence accelerators.

The move reflected a combination of sector-wide risk reduction and specific concerns about the sustainability of elevated valuations after a powerful multi-month rally driven by AI demand. Semiconductor stocks broadly weakened as traders reduced exposure ahead of Nvidia’s earnings report later in the week. Rising Treasury yields and geopolitical tensions further weighed on high-growth technology shares.

A contributing factor was investor reaction to Samsung Electronics’ shareholder-return announcement, which some market participants viewed as less aggressive than hoped. Memory-related stocks, including Micron, Sandisk and SK Hynix, traded lower in response. Additional pressure came from reports of potential increased capacity from Chinese producers and profit-taking following Micron’s substantial gains earlier in the year.

Despite the sharp session decline, Micron’s recent operational performance remains exceptionally strong. In its fiscal third-quarter results reported in late June, the company posted revenue of $41.46 billion, more than quadrupling from the year-earlier period and exceeding analyst expectations by a wide margin. Non-GAAP diluted earnings per share reached $25.11. Gross margins expanded significantly, approaching 85 percent, reflecting tight supply and robust pricing for advanced memory products.

Management guided for fiscal fourth-quarter revenue of approximately $50 billion, plus or minus $1 billion, with gross margins near 86 percent. Data-center related revenue has become a dominant driver, supported by surging demand for high-bandwidth memory used alongside AI accelerators from major chip designers.

“Micron’s record fiscal Q3 financial results and even stronger outlook for Q4 reflect the strategic value of memory in the AI era,” President and Chief Executive Sanjay Mehrotra said in the company’s earnings statement.

Micron has emphasized that demand for high-performance memory continues to outstrip available supply. The company’s HBM production for 2026 is largely committed under multi-year agreements, and it has secured substantial customer cash deposits to lock in future volumes. HBM4 products are ramping faster than prior generations, with early revenue already exceeding $1 billion in some reports.

In recent comments, Mehrotra underscored the structural nature of the demand shift. “We see no end when supply catches up with demand, and the demand continues to grow,” he said. He has also stated that “Today there is no AI without memory,” highlighting how AI systems require increasing quantities of higher-performance, lower-power memory that extends beyond data centers into other applications over time.

The company has signed multiple strategic customer agreements covering significant portions of its DRAM and NAND output, providing greater visibility than in previous memory cycles. These contracts, some spanning five years, include minimum volumes and pricing terms intended to reduce traditional boom-bust volatility. Micron is simultaneously investing heavily in new capacity, including U.S. manufacturing expansions, to address the shortfall while supporting longer-term customer roadmaps.

Monday’s decline occurred against a backdrop of elevated expectations. Micron shares had more than tripled over the prior year at points, reflecting the rapid improvement in profitability as AI-related memory pricing and volumes surged. The stock’s sensitivity to macroeconomic signals, peer announcements and shifts in risk appetite has increased alongside its valuation.

Analysts continue to cite the company’s strong order book, high margins and multi-year customer commitments as supportive of the longer-term outlook, even as near-term trading remains volatile. Capital spending has been raised to support HBM and advanced DRAM production, with management balancing expansion against the need to maintain disciplined returns.

The memory industry has historically been cyclical, with periods of shortage giving way to oversupply and price declines. Micron executives have argued that AI has altered the equation by making memory a more strategic and less commoditized component, with customers designing systems years in advance and locking in supply through formal agreements. Whether this shift fully dampens traditional cycle dynamics remains a key question for investors.

Broader market factors added to the pressure. Concerns about the pace of AI infrastructure returns, higher interest rates and potential increases in global memory capacity have prompted some portfolio managers to trim positions after large gains. Reports of Chinese producers exploring public listings or capacity expansions have also surfaced as a competitive consideration, though advanced HBM performance leadership currently remains concentrated among established players.

For the immediate term, attention is likely to focus on how memory stocks trade around Nvidia’s results and any further signals on AI capital spending from major cloud providers. Micron’s next earnings update will provide fresh data on fourth-quarter performance, HBM ramp progress and the durability of pricing and margins.

The company continues to position itself as a critical supplier in the AI ecosystem, with data-center memory demand running at annualized rates well above prior cycles. Cash generation has strengthened alongside profitability, supporting both reinvestment and returns to shareholders.

Monday’s drop illustrates the tension between exceptional near-term fundamentals and the market’s ongoing assessment of valuation, competition and the longevity of the current supply-demand imbalance. Micron’s shares have demonstrated both substantial upside during periods of tight supply and sharp corrections when sentiment shifts. The coming weeks and quarters will test whether the combination of long-term contracts, capacity investments and AI-driven structural demand can sustain elevated performance amid fluctuating investor risk tolerance.

HONG KONG — Shares of Alibaba Group Holding Ltd. fell sharply on Monday after the Chinese technology company finalized a large share placement aimed at funding its artificial-intelligence ambitions, with investors focusing on dilution and the near-term costs of heavy capital spending.

Alibaba’s Hong Kong-listed stock closed at 112.50 Hong Kong dollars, down 10.50 dollars or 8.54 percent, according to market data from Aug. 24. The shares had fallen as much as about 10.5 percent earlier in the session before stabilizing near the placement price. The decline followed the announcement of a roughly 80 billion Hong Kong dollar ($10.2 billion) offering of 710 million new shares priced at 112.70 Hong Kong dollars each, representing an 8.4 percent discount to the previous closing level.

The deal ranks as the largest primary follow-on equity offering by a Hong Kong-listed company and among the biggest globally this year. Alibaba said the net proceeds will be used entirely to build out its full-stack AI capabilities and related infrastructure, including chips, computing capacity and models. The placement attracted robust demand, with the order book reportedly reaching about $28 billion, including significant interest from long-only and sovereign investors.

The fundraising comes one week after Alibaba reported results for the quarter ended June 30 that highlighted both the momentum and the expense of its AI push. Group revenue rose 9 percent year over year to 268.95 billion yuan. Revenue from AI Cloud and Compute Services accelerated to 45 percent growth, while AI-related product revenue delivered its twelfth consecutive quarter of triple-digit year-over-year increases. Alibaba Cloud maintained a leading position in China’s AI cloud market.

“We delivered a strong quarter, driven by the improving commercialization of our full-stack AI capabilities,” Chief Executive Eddie Wu said in the company’s earnings statement. “Alibaba Cloud’s external revenue growth accelerated to 45%, with AI-related product revenue delivering triple-digit growth for the twelfth consecutive quarter. We recently launched frontier language, coding, video, audio, image and music models, all delivering top-tier performance. We introduced QwenWork, an AI workforce agent that unleashes enterprise productivity and capabilities. With our full-stack AI strategy, we have put Alibaba in a superior position to capture the substantial growth of demand for artificial intelligence and AI compute.”

Despite the top-line progress, profitability came under pressure. Net profit fell 75 percent from a year earlier, primarily reflecting higher AI-related spending. Capital expenditure rose 75 percent in the quarter as the company accelerated infrastructure buildout. Management noted that it had already deployed nearly half of a multi-year capital expenditure plan and brought forward the expected payback period on AI investments to about two and a half years from three, citing stronger-than-expected demand for AI services.

Wu has emphasized the need for continued investment to secure long-term growth. The company has been expanding its data-center footprint, including a recent addition in South Korea that brought its global network to more than 100 availability zones. Alibaba is also developing proprietary chips with the goal of reducing reliance on commercially procured processors over time, which executives say could improve margins as deployment scales.

Investor reaction to the share sale mixed recognition of AI’s strategic importance with concerns about near-term dilution and returns. The new shares represent approximately 3.6 percent of the enlarged share count. Some market participants questioned whether the scale of spending would translate into commensurate profitability, especially as e-commerce growth remains more moderate and competition in AI intensifies both domestically and globally.

Alibaba has positioned its AI efforts as a full-stack strategy encompassing models such as the Qwen series, cloud infrastructure, applications and supporting hardware. AI-related offerings now form a growing portion of cloud revenue, and the company has highlighted improving commercialization through products aimed at enterprise productivity and consumer use cases. Cloud segment margins have shown improvement even as overall group profitability absorbs the investment phase.

The stock’s decline on Monday occurred against a broader backdrop of scrutiny over AI capital expenditure across the technology sector. Investors globally have grown more selective about the timeline for returns on large-scale infrastructure outlays. For Alibaba, the combination of a discounted equity raise and the recent profit contraction amplified those concerns in the short term.

Company executives have maintained that the investments are necessary to capture demand for AI compute and services. Alibaba Cloud continues to rank as a market leader in China, and management has pointed to accelerating external revenue growth and rising annualized run rates for AI products as evidence that commercialization is advancing. The shortened payback guidance reflects higher utilization and demand visibility than previously assumed.

Beyond AI, Alibaba’s core e-commerce and related businesses continue to generate the bulk of revenue, though growth rates have moderated compared with earlier years. Quick commerce and international platforms remain areas of focus, with ongoing efforts to improve unit economics. The company’s overall strategy centers on leveraging its ecosystem to integrate AI capabilities across consumer and enterprise offerings.

Monday’s share-price reaction underscores the tension between long-term strategic bets and immediate financial metrics. The successful placement provides additional capital for infrastructure expansion at a time when demand for AI services is rising rapidly. Whether the dilution and elevated spending ultimately support higher valuations will depend on the pace at which Alibaba converts infrastructure investments into sustained, profitable growth in its cloud and AI businesses.

Trading in the shares is expected to remain sensitive to further updates on capital expenditure, cloud growth rates, AI product monetization and any additional financing or partnership developments. Alibaba’s next earnings report will offer a clearer view of progress against its multi-year investment plan and the trajectory of profitability as AI commercialization continues.

The Government is launching an independent review into how business rates are calculated for pubs and hotels

The Treasury has appointed an expert to examine how business rates are calculated for pubs and hotels and put forward recommendations for overhauling the system.

Jerry Schurder, former business rates policy lead at advisory firm Newmark UK, will head the independent review into valuations and deliver his findings to the Treasury by the end of March 2027.

The Government is also inviting evidence from landlords, brewers, hoteliers and business owners.

The move follows a 20% reduction in business rates bills announced to alleviate cost pressures on pubs, social clubs and live music venues from April next year.

The announcement was broadly welcomed, though there were calls to extend the relief to a wider range of businesses and to pursue more sweeping changes to the system.

No 10 has indicated it will seek to outline further reforms, including small business rates relief, at the Budget.

Financial Secretary to the Treasury James Murray said: “Pubs and hotels are vital for communities and bringing growth to every postcode.

“Last month we announced tax cuts for pubs to give them the breathing room they need. Today we’re going further with a rethink of valuations – so that we can build a fairer system for the future.”

Emma McClarkin, chief executive of the British Beer and Pub Association, said: “For years pubs have paid a disproportionately higher business rates bill which has ground down their ability to keep the doors open, so this review is sorely needed and hugely welcome.”

Neal Jones, EMEA president at Marriott International, said: “The current valuation methodology creates a significant burden for hotels, and it is right that the system is being examined to ensure it is fair, transparent, and reflective of today’s market realities.”

Allen Simpson, chief executive at UK Hospitality, said: “Business rates remain a significant burden for hospitality businesses and the system needs to better reflect the trading realities for the sector.

“Comprehensive review and reform can address these challenges, while also supporting investment and growth.”

Braden Saunders, UK Spirits Alliance spokesperson and owner of Battersea-based Doghouse Distillery and Bar said: “The Prime Minister’s business rates cut for hospitality costs £100 million.

“The excise duty hike at the last budget lost the Treasury nearly the same amount in spirits revenue last year.

“Cut excise duty on spirits, fund the rates cut – it pays for itself. We welcome this review and look forward to engaging.”

Shadow chancellor Sir Mel Stride warned that the impact of the move, with recommendations set to be implemented at the next 2029 business rates revaluation, would arrive too late.

He said: “Tax hikes on business premises and jobs, alongside job-destroying regulation in the Employment Rights Act, have left many hospitality businesses on the brink.”

The Conservatives would scrap business rates for tens of thousands of retail, hospitality and leisure businesses, he added. Liberal Democrat Treasury spokesperson Daisy Cooper said: “This can’t be an excuse for not taking bolder and more urgent action to save our high streets now.

“Fundamental reform of business rates is long overdue, but every day high street businesses are deciding whether they can keep the doors open.”

She called on Labour to adopt her party’s proposals for an emergency VAT reduction ahead of next April, followed by a comprehensive overhaul of business rates, the removal of so-called ghost landlords and a reversal of changes to employer National Insurance Contributions.

This article was written by

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BENTONVILLE, ARK. — As consumers continue to grapple with financial pressures, Walmart must keep delivering value and leading on price to fuel growth, president and chief executive officer John Furner said in reporting fiscal 2027 second-quarter results.

“Everything we do starts with serving customers and members as an omnichannel retailer. Core to that is delivering value and maintaining price leadership,” Furner said in an Aug. 20 conference call with analysts. “As we said coming out of Q1, customers tell us they’re still feeling some pressure. But it’s clear: Customers are looking for value and convenience, and they want things fast. And that’s where Walmart shines.”

Bentonville-based Walmart sweetened its price appeal in the second quarter by boosting its price rollback count by more than 50%.

“Having the best prices across a basket of goods helps us continue to build trust with our customers and members by helping them save money at a time when many households are carefully managing their budgets,” Furner said. “The Walmart US team delivered more than 11,000 rollbacks during the quarter, up from 7,200 rollbacks at the end of the first quarter, demonstrating our commitment to price investment.”

That investment has enabled Walmart to snare market share from competitors in the food, drug and mass retail channel, Furner noted.

“We’re investing heavily in price because customers need us to, and because we believe it drives market share gains over time,” he said. “Our price gaps to conventional grocers here in the US are strong, and they continue to widen. The share gains we see from this channel have persisted alongside the drug and dollar formats.”

Tariff refunds lift profit

For the second quarter ended July 31, Walmart posted net income of $6.37 billion, equal to 80¢ per share on the common stock, down from $7.03 billion, or 88¢ per share, a year earlier. Excluding a 12¢-per-share net loss on investments and other items, adjusted earnings per share was 81¢, up from 68¢ a year ago. That topped Wall Street’s high-end forecast for adjusted EPS of 79¢.

Consolidated revenue climbed 7% year over year to $187.94 billion from $177.4 billion and was up 5% in constant currency. The retailer cited net sales growth of 6.5% (to $186.1 billion), a 23% jump in global e-commerce sales, a 17% increase in membership fee revenue and a 38% surge in global advertising sales (including a 43% gain for Walmart Connect US retail media) as top-line catalysts.

“The underlying business continued to perform well in the quarter and was largely in line with our expectations, which assumed a slight moderation in sales growth from the first quarter,” Furner said. “Overall, we continued to gain market share. We grew units and transactions, and membership fee revenue was at an all-time high on growth of 17%. We delivered another quarter of strong e-commerce growth, up 23% globally, including the 10th consecutive quarter of growth over 20% for Walmart US.”

Operating income swelled 29% to $9.38 billion (up 27% in constant currency) and advanced 17% on an adjusted basis.

Walmart CEO John Furner said fast delivery is fueling customer acquisition, and the retailer’s Sparky AI assistant is helping grocery sales.

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| Photo: ©JESS RODRIGUEZ – STOCK.ADOBE.COM

“This includes the benefit from the receipt of tariff refunds in the quarter,” Furner said. “As we suggested on the last call, our intent was to deploy much of that back into price, and that’s what we’re doing. Importantly, our underlying profit growth was where we thought it would be excluding this benefit. Because of our strong top- and bottom-line growth, we’re raising our guidance for the year.”

In the second-quarter call, chief financial officer John Rainey shed more light on Walmart’s tariff refunds.

“As we shared with you in May, we were eligible for approximately $2.9 billion of tariff-free funds, amounting to about 0.5% of annual US net sales. To date, we’ve received substantially all of these tariff refunds,” he said. “As John mentioned, we’ve taken a disciplined approach to investing these funds back into customer experience and price leadership, prioritizing investment in grocery and general merchandise categories.”

For fiscal 2027, Walmart now projects adjusted EPS at $2.80 to $2.87, up from $2.75 to $2.85 previously, and net sales growth of 4% to 5% (constant currency), versus the prior forecast of 3.5% to 4.5%. Adjusted operating income growth is expected to rise 7% to 8.5% (constant currency), up from 6% to 8% previously.

“This upward revision reflects the pass-through of first-half performance but also assumes slightly better second-half sales versus our prior guide, as price investments drive accelerated and sustained share gains,” Rainey said. “Price investments are an immediate benefit to customers but build value over time for the business.”

CEO spotlights fast delivery, AI

At Walmart US, second-quarter net sales rose 3.5% year over year to $125.19 billion. The company attributed the uptick to broad-based market share gains plus a 24% jump in e-commerce sales and 38% growth in advertising sales. Comparable sales excluding fuel increased 2.6%, as the average ticket size edged up 1.1% and customer transactions rose 1.5%.

“For Walmart US, I feel good about how the underlying business is performing,” Furner said. “The team delivered strong sales growth in categories like toys, pantry and fresh, and we continue to see growth from higher-income households.”

Operating income at Walmart US surged almost 21% to $8.21 billion, as gross profit was lifted by tariff refunds and improvements in business mix and e-commerce economics, the company said.

Furner noted that fast delivery in the United States grew 48% in the quarter, fueling share gains.

“Speed isn’t simply a fulfillment metric; it’s an acquisition strategy,” he told analysts. “Customers who use fast delivery shop with us more frequently. They deepen engagement with us, and they’re more likely to become Walmart+ members. The advances we’re making in speed of delivery create another reason for customers that choose Walmart for more shopping occasions. That’s an important shift in how we think about growth.

“And as we become faster, we’re not simply taking share within traditional retail categories. We’re expanding the number of occasions where Walmart can serve customers, like food delivery. In the past, customers may have thought about Walmart primarily for groceries and general merchandise. Today, we’re expanding beyond that. Meal solutions, prepared food partnerships – like the one we announced with Subway – and faster fulfillment allow us to participate in a much broader share of everyday food spending. This is an exciting opportunity, and we’re just getting started.”

Walmart’s AI-powered shopping assistant, Sparky, also is pitching in on the food business, according to Furner.

“We believe AI will improve nearly every part of our business by making shopping better and our associates work easier,” he said. “Sparky is a great example. The number of customers using Sparky is up 70% from last year, and the customers and members who use Sparky for shopping spend 40% more per order than others who don’t. Someone recently shared with me that they asked Sparky for a weekly meal plan of healthy foods with high-protein options. Within a few seconds, Sparky shared recipes and meal kits, with the ability to add all the ingredients they needed in their basket with one click. Sparky even recognized the ingredients they had recently purchased both online and store. So they didn’t buy something they already had. It’s building trust.”

BURLESON, Texas — Shares of Sadot Group Inc. surged nearly 90 percent in midday trading Monday, extending a period of extreme volatility as investors responded to the company’s ongoing balance-sheet restructuring and early commercial activity on its artificial-intelligence-powered commodity trading platform.

Sadot stock traded at $24.98 as of 11:49 a.m. EDT, up $11.80 or 89.53 percent, according to market data. The sharp advance came on elevated volume and followed a series of recent sessions in which the shares posted large percentage gains and intraday swings, reflecting the low share count that resulted from a reverse stock split earlier this year.

The company, which describes itself as a global provider of agri-food and commodity supply chain solutions, has been transitioning from a traditional, capital-intensive trading model toward a technology-focused platform. Central to that shift are the TradeOS and TradeIQ systems, which Sadot has integrated into its operations following acquisitions completed in recent months.

In its second-quarter results reported earlier this month, Sadot said the TradeOS platform processed its first commercial transactions in July, generating approximately $1 million in preliminary gross revenue. The company noted that the platform has been deployed across its trading desks and that it has begun onboarding counterparties.

“Our priority since the June closing has been to put TradeOS to work inside our trading operations, and the platform is now deployed across our desks and processed its first commercial transactions in July,” Chief Executive Haggai Ravid said in the earnings release. “At the same time, we remain focused on strengthening our balance sheet, resolving outstanding obligations and satisfying the continued listing requirements of The Nasdaq Capital Market. We have significant work ahead of us on each of those fronts.”

Financial results for the quarter ended June 30 underscored the scale of the operational reset. Revenue was reported at zero, compared with $246.6 million in the year-earlier period, reflecting the divestiture of certain businesses and a sharp reduction in traditional commodity trading activity. The company recorded net income of $35.2 million, or $109.16 per diluted share, driven primarily by a gain related to deconsolidation rather than ongoing operations. Adjusted EBITDA showed a loss of $3.3 million. Cash and cash equivalents stood at approximately $0.1 million at quarter-end.

Alongside the technology pivot, Sadot has been working to reduce debt. In a series of transactions in August, the company settled the remaining February debentures, extinguishing roughly $1.08 million in obligations through the issuance of shares priced at $8 each. One recent filing detailed the retirement of about $543,478 in principal in exchange for 67,936 shares. Earlier settlements in July and August similarly converted debt and claims into equity without cash outlays, simplifying the capital structure while increasing the share count.

The low float that followed a 1-for-20 reverse split in late May has amplified price movements. With fewer shares available, relatively modest buying interest has produced outsized percentage gains and rapid reversals. Trading volume has frequently run into the millions of shares on days of large moves.

Sadot has also taken steps to address Nasdaq listing requirements. In early August the exchange determined that the company had regained compliance with a key equity standard on a conditional basis, contingent on demonstrating continued compliance in a subsequent periodic report. Management has pointed to potential financing facilities, including convertible notes and an equity purchase arrangement totaling up to $200 million in capacity, as tools that could support further balance-sheet work and growth, subject to approvals and conditions.

Earlier in the summer the company completed the acquisition of Anira Consulting, also known as Tradewell, in a transaction valued at about $12 million that added commodity trading capabilities and technology. It also acquired intellectual property assets related to TradeIQ for roughly $6 million, combining software models and data with the TradeOS risk-management platform. These moves form the foundation of what management describes as a shift to a platform company designed to operate with a lower fixed-cost base.

In a July statement outlining the strategic direction, Ravid said: “We are closing the chapter on the legacy, capital- and headcount-intensive model of commodity trading, and opening a new one. With TradeOS and TradeIQ, we are building a platform company — one designed to operate with a fraction of the fixed cost base of a traditional trading business, while extending our reach through technology rather than physical footprint. This is a new start for Sadot.”

The stock’s recent performance has been characterized by sharp intraday ranges. On several sessions in mid-to-late August the shares climbed more than 50 percent before giving back a portion of the gains by the close. Monday’s nearly 90 percent advance fits that pattern of high-volatility trading driven by news flow around debt reduction, platform commercialization and the constrained float.

Investors face a mixed picture. The company has eliminated certain near-term debt obligations and generated initial revenue on its new platform, while advancing toward Nasdaq compliance. At the same time, core operating revenue remains limited following the restructuring, cash balances are low, and equity issuances at prices well below recent trading levels introduce dilution. Future financing arrangements, if utilized, could further expand the share count.

Sadot continues to position itself as an AI-enabled participant in commodity markets, aiming to leverage technology for trading, risk management and counterparty engagement rather than relying primarily on traditional physical infrastructure and headcount. The pace at which TradeOS and related tools scale commercial activity will be a central factor in assessing the sustainability of the current valuation.

Market participants are also monitoring the company’s ability to convert its strategic repositioning into consistent operating results. The second-quarter figures illustrated both the impact of the business model change and the non-operating nature of the reported profit. Subsequent quarters will provide additional data on whether platform-generated revenue grows meaningfully and whether balance-sheet improvements translate into greater financial flexibility.

Monday’s rally underscores the sensitivity of Sadot shares to incremental developments in its restructuring and technology efforts. With a reduced float and active speculative interest, the stock has demonstrated the capacity for large percentage moves in either direction. How the company executes on platform adoption, debt management and listing requirements in the coming months is likely to determine whether the recent gains prove durable or remain part of a high-volatility transition period.

The broader context for commodity trading firms includes ongoing interest in digital tools that can improve efficiency and expand reach. Sadot’s pivot places it among companies seeking to apply artificial intelligence to traditional markets. Success will depend on customer adoption, competitive positioning and the ability to generate sustainable margins from the new model while managing the costs and dilution associated with the transformation.

COMMERCE, CALIF. — Revolution Foods, a school meal provider, has acquired Ardella’s, Carson, Calif. Financial terms of the acquisition were not disclosed.

Founded in 1975, Ardella’s is a manufacturer of frozen pizzas, burritos and other center-of-plate foods for schools and other organizations including senior meal programs.

“Bringing Ardella’s to the table enables us to offer more culturally relevant dishes that students are excited about, because healthy meals only make a difference when kids actually eat them,” said George Blanco, chief executive officer of Revolution Foods.

Ardella’s operates a manufacturing facility in Carson that processes individually quick frozen foods.

“For more than 50 years, our family has been crafting foods that kids and families enjoy, without cutting corners on quality,” said Hap Frank, co-founder of Ardella’s. “Passing the baton to Revolution Foods allows our recipes, our people, everything we’ve built, to reach even more schools and communities.”

Revolution Foods also owns Balance Foods, a manufacturer of cereal and snacks. 

Three theme parks will be built near Paris as part of a €6bn (£5.13bn) deal agreed between France and Saudi Arabia.

The new development is expected to include a manga-themed park, inspired by the popular Japanese franchise Dragon Ball Z.

French President Emmanuel Macron hailed the move as on a scale not seen “since Disneyland Paris”, and added “you know my interest for manga”.

An opening date for the parks – which will be built near Cergy-Pontoise – has not set by the Élysée Palace, but they will open in stages and construction is expected to take years.

The project was given the green light during a two-day state visit to France by Saudi Arabia’s Crown Prince Mohammed bin Salman.

It stemmed from a previous discussion between Macron and bin Salman about their shared passion for Japanese comics, “in particular Dragon Ball Z,” advisers to the president told reporters on Monday.