SJM Earnings Beat the Street, But Shares Jammed Up
By Market News Video Staff, Thursday, November 18, 11:48 AM ET
Food producer J.M. Smucker (NYSE:SJM) posted analyst-beating fiscal second quarter profits today, and hiked its earnings forecast. Adjusted earnings of $1.38 beat Wall Street estimates, on flat revenue of $1.28 billion. The company hiked its full-year earning outlook by $0.05 to $4.55 to $4.65 per share.
Investors were looking for more, however, as J.M. Smucker shares are trading lower by more than 3% on Thursday.
According to the ETF Finder, the stock is a 3.02% holding of the First Trust Consumer Staples AlphaDEX Fund (AMEX:FXG). Other top holdings include Herbalife (NYSE:HLF), at 5.28% of the portfolio, Bunge Limited (NYSE:BG), at 4.81%, and Alberto-Culver Company (AVC), at 4.71% of the fund.
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