VERY - Dow Falls Over 100 Points; McCormick Sales Miss Views | Benzinga
U.S. stocks traded lower this morning, with the Dow Jones falling more than 100 points on Tuesday.
Following the market opening Tuesday, the Dow traded down 0.37% to 33,310.99 while the NASDAQ fell 0.58% to 13,230.96. The S&P 500 also fell, dropping, 0.47% to 4,268.18.
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Leading and Lagging Sectors
Consumer staples shares fell by just 0.04% on Tuesday.
In trading on Tuesday, consumer discretionary shares dipped by around 1%.
Top Headline
McCormick & Company, Incorporated (NYSE: MKC) reported weaker-than-expected sales for its third quarter.
The company posted third-quarter FY23 sales growth of 6% year-on-year to $1.684 billion, missing the analyst consensus estimate of $1.70 billion. Adjusted EPS of $0.65 was in line with the consensus estimate.
McCormick reaffirmed FY23 revenue growth guidance of 5% - 7%. The company raised FY23 adjusted EPS outlook to $2.62 - $2.67 from $2.60 - $2.65.
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