UNFI - Are These 2 Stocks Pointing to a Tough Earnings Season Ahead?
2023-09-26 09:42:11 ET
Stocks moved lower on Tuesday morning, as investors remained concerned about a host of macroeconomic challenges. Interest rates continue to move higher, as the rising prices of oil and other energy products are fueling more worries about potential inflation ahead. Opening losses for major stock market benchmarks amounted to about half a percent, giving back gains from Monday and then some.
Adding to the negative sentiment, earnings reports from United Natural Foods (NYSE: UNFI) and Thor Industries (NYSE: THO) sent their respective shares lower. These two companies are exposed to very different segments of the consumer economy, but both rely on healthy economic conditions to fuel their businesses. Here's the latest on what United Natural and Thor said.
Shares of United Natural Foods fell 20% early Tuesday morning. The distributor of natural food products reported fiscal fourth-quarter financial results for the period ended July 29 that highlighted the challenges many companies in the food industry face right now.
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Are These 2 Stocks Pointing to a Tough Earnings Season Ahead?