Daily Trade News

Pet Food Recall is Expanded After 70 Dogs Die – The New York Times

Midwestern Pet Foods Inc. expanded a voluntary recall after fatal levels of a toxin produced by mold were found in some of its products, the F.D.A. said.

A pet food company has expanded its voluntary recall of several dry food products after more than 70 dogs died and 80 others became ill, possibly from ingesting fatal levels of a toxin that is produced by mold, the Food and Drug Administration said.

The company, Midwestern Pet Foods Inc. of Evansville, Ind., first issued a voluntary recall in late December after tests of certain products showed that aflatoxin, which is produced by mold, exceeded acceptable levels, the F.D.A. said.

At that time, the F.D.A. was alerted to reports that at least 28 dogs had died and eight others had become ill after consuming the recalled pet food.

The expanded recall, which the company announced on Monday, includes additional dry and cat food products made with corn that expire on or before July 9, 2022.

The F.D.A. said in a statement that it was “issuing this advisory to notify the public about the potentially fatal levels of aflatoxins in Midwestern Pet Food products that may still be on store shelves, online or in pet owners’ homes.”

Three of the products that have been recalled.

The products include Sportmix, Pro Pac Originals, Splash, Sportstrail and Nunn Better dry dog and cat foods, which Midwestern Pet Foods produces in Oklahoma and distributes nationally in retail stores and online.

Retailers were instructed not to sell or donate the recalled products and to contact customers who had purchased the products, if possible.

“As a fourth-generation family-owned company, Midwestern Pet Foods has been committed to ensuring that our products are safe and nutritious for nearly 100 years,” the company said in a statement. “Until recently, throughout our long history, we’ve never had a product recall.”

The company said it was expanding the recall “out of an abundance of caution.” The F.D.A. said its investigation was ongoing and that not all of the suspected cases of aflatoxin poisoning had been confirmed through laboratory testing.

Aflatoxin is produced by the mold Aspergillus flavus, which can grow on corn and grains that are used as ingredients in pet food, the F.D.A. said. At high levels, the toxin can cause pets to become ill or die, or cause liver damage without symptoms, the department said. The toxin, it said, can still be present even if there is no visible mold.

Signs of aflatoxin poisoning in a pet could include sluggishness, a loss of appetite, vomiting, jaundice or diarrhea, the F.D.A. said.

While no illness have been reported in humans or cats, and there is no evidence that pet owners who handle food with aflatoxin are at risk of poisoning, the F.D.A. suggested that they wash their hands after handling their pet’s food.

Read More: Pet Food Recall is Expanded After 70 Dogs Die – The New York Times

CNBC’s Jim Cramer pounded the table on one of his favorite semiconductor companies after shares dipped on news of a leadership change at one of its top rivals, Intel.

Shares of Advanced Micro Devices dropped almost 4% after Intel announced that it will replace its chief executive in a month. Intel stock rallied 7% as investors welcomed the news that current CEO Bob Swan would step down to make way for Pat Gelsinger, an Intel alum who heads VMware, to take over the role in February.

“As much as Intel needs a change, what matters here is that you’re now getting a chance to buy Intel’s more agile rival, AMD, down more than three bucks, for something that might not even happen: a turn at Intel within the next three years,” the “Mad Money” host said. “Gelsinger did a good job at VMware, but Intel doesn’t really need an old Intel hand. It needs someone new, young, hungry who can shake up the culture, if not blow it up entirely.”

In AMD, buyers would be getting a piece of a $110.4 billion company whose stock nearly doubled last year. Stock in Intel, a larger player with a $233.4 billion market cap, declined more than 16% in 2020 as the company reported a delay in new chips under development and lost a key partnership with Apple.

Prior to those woes, companies like AMD and Samsung began scooping up market share from Intel.

Cramer, who has applauded AMD CEO Lisa Su for her stewardship of the graphic chips producer, also reiterated his love for Nvidia, a $335 billion semiconductor player.

“I’d much rather buy the stock of a company that’s beating Intel to a pulp, AMD,” Cramer said. “Under Lisa Su’s incredible leadership, they’ve gone from an also-ran semiconductor — always second fiddle to Intel — to being the one that makes better chips.”

The comments came after a mixed day of stock trading on Wall Street. The Dow Jones Industrial Average finished the session down 8 points, or about 0.03%, at 31,060.47. The S&P 500 and Nasdaq Composite both extended their gains from Tuesday, rising 0.23% to 3,809.84 and 0.43% to 13,128.95, respectively.

The three averages remain in the red week to date.

Disclosure: Cramer’s charitable trust owns shares of Advanced Micro Devices and Nvidia.

Disclaimer

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer’s world? Hit him up!
Mad Money TwitterJim Cramer TwitterFacebookInstagram

Questions, comments, suggestions for the “Mad Money” website? madcap@cnbc.com

Read More: Intel CEO change gives investors buying opportunity in AMD, Jim Cramer says – CNBC