Food company called J.M. Smucker that makes foods like jelly, peanut butter, and frozen sandwiches, told people that people are buying less of their products because they are trying to save money because things are expensive right now. This is bad news for the company because they thought they would sell more products. Read from source...

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Neutral

Actions of note: None

(not providing trading recommendations)

Analysts' Consensus:

(Not currently available)

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What Analysts Are Saying:

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NOTE: As of market close on 2024-08-30

### SENTIMENT CHANGE:

Positive: -1
Negative: +1

### GROUPS TO WATCH:

International Co.

### THE STORY:

J.M. Smucker (SJM) stock has been following a declining trend in the last few days. In the last 5 days, the stock has fallen 7.1%, bringing its market cap down to $12.94 billion. The stock is currently trading at $113.32 per share and is near its 52-week low of $103.00. The recent decline in the stock comes after the company reported earnings for its fiscal first quarter that ended on July 31, 2024.

The company reported earnings per share of $2.07, which was above the consensus estimate of $2.05. However, revenue came in at $2.05 billion, which was slightly below the consensus estimate of $2.07 billion. The company also lowered its full-year guidance for fiscal 2025, citing high inflation and a slowdown in consumer spending.

The company's CEO, Mark Smucker, said in a statement that "We continue to experience high levels of inflation across our input cost base, and we are cautious on the demand environment as consumers face higher prices on many items."

Despite the lower guidance, the company did report some positive news in the earnings report. Sales of the company's Uncrustables brand, which are frozen peanut butter and jelly sandwiches, increased by 11% in the quarter. This growth was driven by increased sales in convenience stores and grocery stores.

Overall, the decline in J.M. Smucker's stock is likely due to concerns about inflation and consumer spending. Investors are also likely worried about the company's lower guidance for the full year. However, the growth in sales of the Uncrustables brand may provide some optimism for the company's future.

### GROUPS TO WATCH:

Retail

### THE STORY:

E-commerce company, Shopify (SHOP), has seen a significant drop in its stock price in recent days. In the last 5 days, the stock has fallen by 15.1%,

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