J.M. Smucker (SJM) slumps on earnings outlook

J.M. Smucker SJM shares dropped 2.9% to $114.77. The company offered a disappointing earnings outlook for its next fiscal year, citing weak coffee and food sales at the Folgers coffee maker. For its fiscal fourth-quarter earnings the company missed analysts' earnings estimates, excluding the cost of Big Heart Pet Foods. Share volume was 113,000, compared to an all-day average of 149,000