Grupo Herdez, Goldman Sachs, Millennium Management, The Trade Desk, and Total Play: A Detailed Overview

Web Editor

August 17, 2025

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Grupo Herdez’s Price Adjustment Concerns

Grupo Herdez, a leading Mexican producer of processed foods, including mayonnaise, sauces, and guacamole, has stated that if there is a tariff change with the United States—where they distribute their products—they would likely increase prices and absorb short-term pressures. However, as of now, they have not adjusted prices due to this factor, according to Gerardo Canavati Miguel, Grupo Herdez’s CFO, during a call with analysts and investors regarding their second-quarter 2025 financial results. He added that, despite the current environment, they anticipate a more positive second half of the year.

Goldman Sachs Assists Millennium Management

In an unusual move, Goldman Sachs is helping Millennium Management, a global hedge fund, sell shares of the fund to its wealthiest clients. The minimum commitment is at least $1 million, and the maximum is $20 million, as per documents circulated by the investment bank among its clients.

For the first time in years, Millennium is allowing external individuals to invest directly and aims to sell up to 15% of the company.

The Trade Desk’s Underperformance

The Trade Desk, a real-time advertising platform, has not performed well despite being added to the Standard & Poor’s 500 index last month. The S&P 500 is considered the primary benchmark for high-capitalization U.S. stocks.

The Trade Desk replaced Ansys, a software developer, after Ansys was acquired by Synopsys, a leading provider of electronic design automation solutions and services. The acquisition closed on July 17, 2025, causing Ansys to lose its status as an independent publicly traded company and thus failing to meet the S&P 500 criteria.

To be eligible for the S&P 500, factors such as market capitalization, profitability standards, and other requirements are considered. The index committee may also exercise discretion.

Total Play’s Improved Outlook

Total Play, a restricted TV and internet provider in Mexico, received an upgraded outlook from “stable” to “positive” by Moody’s Ratings based on its liquidity profile and competitive position.

The new outlook implies that Total Play’s corporate family rating, which was reaffirmed at B3 (sixth speculative grade level), could improve within the next 12 to 18 months.

Moody’s considers Total Play to have adequate liquidity sources to meet its funding needs until mid-2027 and expects its free cash flow to be neutral, given the company’s, a Grupo Salinas subsidiary, intention to reduce its payables.

Peña Verde’s Share Sale by Director

Peña Verde, an insurance company, announced that its director general and shareholder, Manuel Santiago Escobedo Conover, sold a package of shares to a trust he owns alongside other directors.

The trust, identified as number 18812-1, acquired 55.3 million shares from Escobedo, representing 11.61% of the company’s capital stock, according to a statement.

Following the purchase, the trust “expresses its intention to continue acquiring shares of the company,” Peña Verde stated in the statement.

Key Questions and Answers

  • What is Grupo Herdez’s concern? Grupo Herdez is concerned about potential price increases if there are tariff changes with the United States, where they distribute their processed food products.
  • How is Goldman Sachs assisting Millennium Management? Goldman Sachs is helping Millennium Management sell shares to their wealthiest clients, with a minimum commitment of $1 million and a maximum of $20 million.
  • Why has The Trade Desk’s performance been poor despite being added to the S&P 500? The Trade Desk replaced Ansys in the S&P 500 after Ansys was acquired by Synopsys, causing Ansys to lose its independent publicly traded company status and fail to meet the S&P 500 criteria.
  • What led to Total Play’s improved outlook? Total Play’s upgraded outlook from “stable” to “positive” by Moody’s Ratings is based on its liquidity profile and competitive position.
  • What action did Peña Verde’s director take regarding his shares? Manuel Santiago Escobedo Conover, the director general and shareholder of Peña Verde, sold a package of shares to a trust he owns alongside other directors.