SJM - Dow Surges 250 Points; Smucker Earnings Top Estimates | Benzinga
U.S. stocks traded higher toward the end of trading, with the Dow Jones gaining around 250 points on Tuesday.
The Dow traded up 0.74% to 34,814.53 while the NASDAQ rose 1.73% to 13,942.34. The S&P 500, also rose, gaining, 1.34% to 4,492.62.
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Leading and Lagging Sectors
Communication services shares jumped by 2.4% on Tuesday.
In trading on Tuesday, utilities shares rose by just 0.1%.
Top Headline
The J. M. Smucker Company (NYSE: SJM) reported better-than-expected earnings for its first quarter.
Smucker posted a first-quarter FY24 sales decline of 4% year-on-year to $1.805 billion, missing the analyst consensus of $1.84 billion. Adjusted EPS of $2.21 beat the consensus estimate of $2.04.
J M Smucker raised FY24 adjusted EPS guidance from $9.20 - $9.60 to $9.45 - $9.85 versus the consensus of $9.39.
Equities Trading UP
Axcella Health Inc. (NASDAQ: AXLA) shares shot up 287% to $0.4370 after the company announced it was granted a patent for long COVID fatigue treatment.
Shares of Big Lots, Inc. (NYSE: BIG) got a boost, shooting 25% to $7.87 following better-than-expected quarterly results.
LifeVantage Corporation ...