SJM Short (closed 107.51) There hasn't been a lo
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Posted On: 08/24/2017 9:05:54 PM
SJM Short (closed 107.51)
There hasn't been a lot of blood on the street lately, like recent TEVA and CBI
Today's short selection is workmanlike and hopefully will continue down tomorrow to the 105-100 levels
Smuckers (SJM) missed on earnings (1.51 actual vs 1.63 consensus) and sales (1.748B vs 1.813B, down 4% YoY).
Also lowered guidance (EPS now projected $7.75 to $7.95 vs previous guidance $7.85 to $8.05. The street was expecting $7.97)
Legacy food manufacturers are struggling to adapt to consumer desire for fresher, more natural foods (i.e. Smuckers makes Crisco shortening).
Big manufacturer margins are under pressure as supermarkets are squeezing in attempt to compete with discount sellers like Costco, Aldo and fast coming Lidl.
http://stockcharts.com/h-sc/ui?s=SJM
There hasn't been a lot of blood on the street lately, like recent TEVA and CBI
Today's short selection is workmanlike and hopefully will continue down tomorrow to the 105-100 levels
Smuckers (SJM) missed on earnings (1.51 actual vs 1.63 consensus) and sales (1.748B vs 1.813B, down 4% YoY).
Also lowered guidance (EPS now projected $7.75 to $7.95 vs previous guidance $7.85 to $8.05. The street was expecting $7.97)
Legacy food manufacturers are struggling to adapt to consumer desire for fresher, more natural foods (i.e. Smuckers makes Crisco shortening).
Big manufacturer margins are under pressure as supermarkets are squeezing in attempt to compete with discount sellers like Costco, Aldo and fast coming Lidl.
http://stockcharts.com/h-sc/ui?s=SJM
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