This Food Stock Is the S&P 500’s Top Performer Today. It Needs a Boost.
Market Intelligence Analysis
AI-PoweredJ.M. Smucker's shares have increased due to better-than-expected quarterly earnings, making it the top performer in the S&P 500 today, with a 9% year-to-date gain.
Market impact analysis based on bullish sentiment with 90% confidence.
Article Context
Shares of J.M. Smucker jumped Thursday after the company reported better-than-expected quarterly earnings, providing a glimmer of hope in a downtrodden packaged-food category. The company, which owns brands like Jif peanut butter and Folgers coffee, posted adjusted earnings of $2.38 a share for its fiscal third quarter, ahead of Wall Street’s forecast of $2.27. Shares were up 9% this year through Wednesday’s close as Wall Street rotated out of riskier growth stocks and into consumer staples.
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