Longs Getting Jammed In JM Smucker

shares were trading lower by $4.60 at $113.59 in Thursday's session. The catalyst for the decline was a mixed Q4 report, a slight beat for EPS and sales. However, the Street is focusing on the lowered guidance for FY 2016. After a lower opening ($115.68 vs. Wednesday's close of $118.19), it managed to rally to $116.56 before resuming its decline. So far, it has reached $113.19 and is trading just of that level. That marks the lowest level for the issue since it put in place a pair of lows on March 24 ($112.50) and March 25 ($112.64). Today's price action is taking place on much heavier than average volume. At this time, 2.2 million shares have changed hands compared with its 20-day average of 565,000 with over an hour remaining in the session.