Flowers Foods (NYSE:FLO) Stock, Quote.Headers.trade-ideas

Flowers Foods

Flowers Foods Inc is an American company producing bakery food for retail and foodservice across the United States. The product portfolio includes fresh breads, buns, rolls, snack cakes, and tortillas. The company distributes to supermarkets, convenience stores, and restaurants. The key brands are Nature's Own, Whitewheat, Cobblestone Bread, Wonder, Dave's Killer Bread, Canyon Bakehouse, Mrs. Freshley's, and Tastykake.

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Wall Street edged slightly higher on Friday, with major equity indices showing modest gains at midday in New York.

Wall Street Gains Ground As Consumer Sentiment Improves; Gold Hits Record Highs, Boosting Mining Stocks: What&#39;s Driving Markets Friday?

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Wall Street appears on track to build on gain as expectations concerning a continued moderation in inflation and soft-landing gain ground. The major index futures point to a modestly higher open on Friday as the S&amp;P 500 and the Nasdaq Composite indices look to extend their six-day winning run.

US Stocks Strive To Keep Winning Run Alive As Kamala Harris Prepares To Unveil Economic Policy: Analyst Says &#39;Risk-On&#39; Sentiment Will Persist Until This Event

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Dow Jumps Over 550 Points Following Retail Sales Data: Greed Index Remains In &#39;Fear&#39; Zone

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Wall Street edged slightly higher on Friday, with major equity indices showing modest gains <a href="https://www.benzinga.com/markets">at midday in New York.</a>
Both the S&amp;P 500 and Nasdaq 100 are on track to record their best week since October 2023, driven by stronger-than-expected economic data that eased earlier concerns of a recession. If they close in the green, they will secure the seventh straight positive session. 
On Friday, the University of Michigan&#8217;s Consumer Sentiment Index for August exceeded expectations, adding to a series of positive data, including lower-than-anticipated jobless claims and strong retail sales growth reported the day before.
Gold was the standout performer, climbing 1.5% to reach a record high of $2,500 per ounce, as traders positioned themselves in anticipation of imminent Federal Reserve rate cuts.
This surge in gold prices boosted gold mining stocks, with the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) advancing over 2%.
Oil prices, however, dipped 1.6% amid reduced geopolitical tensions as Gaza ceasefire negotiations resumed in Doha, Qatar. In a joint statement, the United States, Qatar, and Egypt announced that Washington had presented a new proposal that has the potential to rapidly close gaps and lead to a swift agreement.
Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 1.6%, reaching $58,368.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,142.44</td>
<td>0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,552.80</td>
<td>0.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,619.51</td>
<td>0.1%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,507.26</td>
<td>0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081624&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.1% higher to $553.81.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;also rose 0.1% to $406.32.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) edged 0.2% up to $475.31.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) ticked 0.2% higher to $212.42.</li>
<li>The Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>), The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), and The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, up by 0.5%. The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) lagged, down by 0.5%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>H&amp;R Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRB#NYSE">HRB</a>) rallied 15% following stronger-than-expected results last quarter.</li>
<li>Other stocks moving on earnings were Amcor plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMCR#NYSE">AMCR</a>), down 5%, Applied Materials Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>), down 1.5%, Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>), up 8%, Flower Foods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>), down 0.3%, and Globant S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLOB#NYSE">GLOB</a>), up 4.9%. </li>
<li>Repligen Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGEN#NASDAQ">RGEN</a>) dropped 13% after making an acquisition offer to Maravai LifeSciences Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVI#NASDAQ">MRVI</a>), a company specializing in vaccine capping reagents with a market value of $2.2 billion. Following the offer, Maravai&#8217;s shares surged by 23%.</li>
</ul>
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40420968/walmart-stock-one-of-the-most-compelling-retail-investments-7-analysts-highlight-ma">Walmart Stock &#8216;One Of The Most Compelling&#8217; Retail Investments: 7 Analysts Highlight Market Share Gains</a></li>
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Image created using artificial intelligence via Midjourney.

Wall Street Gains Ground As Consumer Sentiment Improves; Gold Hits Record Highs, Boosting Mining Stocks: What's Driving Markets Friday?

Guidance

Flowers Foods Maintains FY24 Financial Outlook For Sales Of $5.091B - $5.172B (Est $5.157B), Adjusted EPS Of $1.20 - $1.30 (Est $1.22)

Flowers Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) reported quarterly earnings of $0.36 per share which beat the analyst consensus estimate of $0.33 by 9.09 percent. This is a 9.09 percent increase over earnings of $0.33 per share from the same period last year. The company reported quarterly sales of $1.225 billion which missed the analyst consensus estimate of $1.24 billion by 1.53 percent. This is a 0.24 percent decrease over sales of $1.23 billion the same period last year.

Earnings Beats

Earnings Misses

Flowers Foods Q2 2024 Adj EPS $0.36 Beats $0.33 Estimate, Sales $1.225B Miss $1.24B Estimate

Wall Street appears on track to build on gain as expectations concerning a continued moderation in inflation and soft-landing gain ground. The major index futures point to a modestly higher open on Friday as the S&amp;P 500 and the Nasdaq Composite indices look to extend their six-day winning run. Vice President Kamala Harris, who is running for the presidency, is due to <a href="https://www.benzinga.com/news/24/08/40411555/ahead-of-kamala-harris-first-economic-policy-speech-in-north-carolina-campaign-provides-sneak-peek-f">formally announce her economic policy at the North Carolina rally </a>scheduled for Friday.
The market could draw cues from her speech, as traders assess the implications of the policy proposals for the various sectors and stocks. A sneak peek provided by the Democratic Party&#8217;s nominee already suggests an accent on residential construction. A consumer sentiment reading and a speech by a Federal Reserve official could also impact sentiment.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.16%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.02%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.05%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.41%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In premarket trading on Friday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) slipped 0.07% to $552.71, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.02% to $474.51, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Last Session: 
A set of benign economic data accelerated the market rally on Thursday, with the S&amp;P 500 and the Nasdaq Composite indices settling higher for a sixth straight session. Retail sales jumped more than expected in July with the upside commendable even after giving effect the two-tenths of a percentage point downward revision to the June number. The upside was fueled by auto sales. Retail sales growth that excludes autos also was a healthy 0.4%.
Also allaying growth concerns were an unexpected decline in weekly jobless claims and a not-so-steep contraction as expected in manufacturing activity in the New York and Philadelphia regions. 
The major averages gap opened higher and saw a steady rise until the afternoon before going about a consolidation move for the rest of the session. The Nasdaq Composite and the Dow Industrials hit fresh two-week highs, while the S&amp;P 500 ended at its highest level since July 23.
All but two of the 11 S&amp;P sectors advanced, led by consumer discretionary and IT stocks, while defensive utility and real estate stocks moved to the downside.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+2.34%</td>
<td>17,594.50</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+1.61%</td>
<td>5,543.22</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+1.39%</td>
<td>40,563.06</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+2.45%</td>
<td>2,135.47</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The market rally may have further legs, according to Fund Strat Head Of Research Tom Lee. &#8220;While bottoms are a &#8216;process,&#8217; a good July Core CPI tilts &#8216;risk-on&#8217; at least until Jackson Hole (8/22-8/24),&#8221; said the strategist.
Fund manager Louis Navellier is also positive about the market trajectory, stating that &#8220;Market momentum is alive and&nbsp;well.&#8221; 
Data reinforces the resilience of consumers and the labor market, the fund manager said. &#8220;While this may give the&nbsp;Fed pause on&nbsp;how quickly to trim rates,&nbsp;it doesn&#8217;t appear that elevated rates are restraining the&nbsp;economy as much as some conclude,&nbsp;and leaves dry powder for the&nbsp;potential slowdown that&nbsp;continues to be pushed&nbsp;forward quarter after&nbsp;quarter,&#8221; he added.
Upcoming Economic Data:
<ul>
<li>The Commerce Department is scheduled to release the housing start and building permits report for July at 8:30 a.m. EDT. Economists, on average, expect housing starts to come in at a seasonally-adjusted annual rate of 1.34 million units for July, down only slightly from June&#8217;s rate of 1.35 million units. Building permits &#8211; a measure of future starts may have declined from 1.45 million units in June to 1.42 million units in July. </li>
<li>The University of Michigan is set to release the results of its preliminary consumer sentiment survey at 10 a.m. EDT. The consensus estimate calls for the headline consumer sentiment to come in at 66.6 for August, slightly up from 66.4 in July. The forward inflation expectations readings of the report may also evince some interest.</li>
<li>Chicago Fed President Austan Goolsbee is scheduled to speak at 1:25 p.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>Applied Materials, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) fell nearly 3% in premarket trading following the chip equipment maker&#8217;s quarterly results, and H&amp;R Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRB#NYSE">HRB</a>) climbed over 9.5% on earnings.</li>
<li>Flowers Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) rose nearly 6% ahead of its earnings.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures fell sharply after Thursday&#8217;s surge in the wake of the U.S. retail sales data, and gold futures rose modestly and are tantalizingly close to $2,500 an ounce. The 10-year Treasury yield eased 3.2 points to 3.894%. Bitcoin USD (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose modestly and traded past the $58.5 level.
Asian stocks rallied across the board, encouraged by Wall Street&#8217;s scintillating rally. Japan&#8217;s Nikkei 225 soared 3.64% as the yen weakened against the dollar amid the strong U.S. data. European stocks also advanced in early trading on Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40410895/anthony-scaramucci-says-kamala-harris-poll-numbers-are-driving-market-higher-predicts-ro">Anthony Scaramucci Says Kamala Harris&#8217; Poll Numbers Are Driving Market Higher, Predicts &#8216;Rough 81 Days&#8217; Ahead For Trump</a></li>
</ul>
Stocks Photo by Jirapong Manustrong on Shutterstock

US Stocks Strive To Keep Winning Run Alive As Kamala Harris Prepares To Unveil Economic Policy: Analyst Says 'Risk-On' Sentiment Will Persist Until This Event

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, but the index remained in the &#8220;Fear&#8221; zone on Thursday.
U.S. stocks settled higher on Thursday, with the S&amp;P 500 recording gains for the sixth consecutive session. The index is now down around 2% from its record after gaining more than 3% this week.
On the economic data front, U.S. retail sales gained 1% month-over-month in July versus a revised 0.2% decline in June and higher than market estimates of a 0.3% gain. U.S. initial jobless claims declined by 7,000 to 227,000 in the week ending August 10, versus market estimates of 235,000. The NY Empire State Manufacturing Index rose to -4.7 in August, notching the highest level in six months.
Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) reported downbeat sales for its fiscal first quarter. Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) announced strong second-quarter results and raised full-year guidance. Shares of Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) rose 6.8% during Thursday&#8217;s session following better-than-expected quarterly earnings.
Most sectors on the S&amp;P 500 closed on a positive note, with consumer discretionary, information technology, and materials stocks recording the biggest gains on Thursday. However, real estate and utilities stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 555 points to 40,563.06 on Thursday. The S&amp;P 500 rose 1.61% to 5,543.22, while the Nasdaq Composite gained 2.34% at 17,594.50 during Thursday's session.
Investors are awaiting earnings results from Madison Square Garden Entertainment Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSGE#NYSE">MSGE</a>), CI&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CINT#NYSE">CINT</a>), and Flowers Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 32.9, the index remained in the &#8220;Fear&#8221; zone on Thursday, versus a prior reading of 27.6.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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Dow Jumps Over 550 Points Following Retail Sales Data: Greed Index Remains In 'Fear' Zone

With U.S. stock futures trading higher this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Madison Square Garden Entertainment Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSGE#NYSE">MSGE</a>) to report a quarterly loss at $2.27 per share on revenue of $271.32 million before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Madison Square Garden shares gained 3.5% to $40.00 in after-hours trading.</li>
<li>Applied Materials, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) <a href="https://www.benzinga.com/news/earnings/24/08/40406069/applied-materials-q3-earnings-revenue-beat-eps-beat-demand-being-driven-by-race-for-ai-leadership-a">reported better-than-expected results</a> for its third quarter. The company said it anticipates fourth-quarter revenue of $6.53 billion, plus or minus $400 million, versus estimates of $6.91 billion. The company expects fourth-quarter adjusted earnings to be between $2 and $2.36 per share, versus estimates of $2.14 per share. Applied Materials shares fell 3.1% to $205.30 in the after-hours trading session.</li>
<li>Analysts are expecting CI&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CINT#NYSE">CINT</a>) to post quarterly earnings at 6 cents per share on revenue of $99.03 million. The company will release earnings before the markets open. CI&amp;T shares rose 10.4% to $7.45 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here </a>
<ul>
<li>H&amp;R Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRB#NYSE">HRB</a>) <a href="https://www.benzinga.com/news/earnings/24/08/40407075/h-r-block-q4-earnings-revenue-beat-eps-beat-strong-guidance-1-5b-buyback-stock-up-9">reported better-than-expected</a> fourth-quarter financial results and increased its quarterly dividend by 17%. H&amp;R Block said it expects full-year 2025 revenue to be in the range of $3.69 billion to $3.75 billion versus estimates of $3.575 billion, per Benzinga Pro. The company sees full-year adjusted earnings in the range of $5.15 to $5.35 per share versus estimates of $4.30 per share. H&amp;R Block shares jumped 10% to $63.23 in the after-hours trading session.</li>
<li>Analysts expect Flowers Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) to post quarterly earnings at 33 cents per share on revenue of $1.24 billion before the opening bell. Flowers Foods shares gained 1.5% to $22.99 in after-hours trading.</li>
</ul>
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Photo courtesy: Shutterstock

Applied Materials, H&R Block And 3 Stocks To Watch Heading Into Friday

Dividends

Flowers Foods Announces 4.3% Increase In Quarterly Dividend To $0.24 Per Share; Payable June 20, 2024, To Shareholders Of Record On June 6, 2024; Annualized Dividend Rate Raised To $0.96 Per Share From $0.92 Per Share Last Year

DA Davidson analyst Brian Holland maintains Flowers Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) with a Neutral and raises the price target from $24 to $25.

Price Target

Analyst Ratings

DA Davidson Maintains Neutral on Flowers Foods, Raises Price Target to $25

Flowers Foods Sees FY24 Adj. EPS $1.20-$1.30 Vs $1.24 Est.; Sales $5.091B-$5.172B Vs $5.16B est.

Flowers Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) reported quarterly earnings of $0.38 per share which missed the analyst consensus estimate of $0.41 by 7.32 percent. The company reported quarterly sales of $1.576 billion which missed the analyst consensus estimate of $1.579 billion by 0.18 percent. This is a 2.74 percent increase over sales of $1.534 billion the same period last year.

Flowers Foods Q1 2024 Adj EPS $0.38 Misses $0.41 Estimate, Sales $1.576B Miss $1.579B Estimate

Deutsche Bank analyst Steve Powers maintains Flowers Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) with a Hold and raises the price target from $22 to $23.

Deutsche Bank Maintains Hold on Flowers Foods, Raises Price Target to $23

<div>A truck driver hauling bread for a bakery is in the transportation business and is not a bakery worker, according to a recent U.S. Supreme Court decision in a closely watched case involving an aspect of the legal status of drivers.</div>

The decision, written by Chief Justice John Roberts, was unanimous.

It overturned both a decision by the U.S. District Court for the District of Connecticut and an appellate decision by the 2nd U.S. Circuit Court of Appeals. They had ruled that the drivers, who were independent contractors delivering the products of Flowers Foods (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/flo#NYSE">FLO</a>) in certain parts of Connecticut, were in the bakery business, not transportation.

If the lower court decisions — that the drivers who had secured the rights to those Nutmeg State routes, Neal Bissonnette and Tyler Wojnarowski, were in baking rather than transportation — had been upheld, they would need to settle their pay disputes with Flowers through arbitration under the Federal Arbitration Act (FAA). <script type="text/javascript">
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But the Supreme Court's April 12 ruling that they are in the transportation business opens the door for them to take the dispute to court.

That's because the FAA — in its very first section — exempts from its mandate several types of workers, such as railroad employees and "any other class of workers engaged in foreign or interstate commerce."

The District Court and the 2nd Circuit found that Bissonnette and  Wojnarowski, described in Roberts' decision as "franchisees" were involved in the bakery business rather than as transportation workers involved in "foreign or interstate commerce." Therefore, the exemption in the FAA did not apply, according to the lower courts.

But the Supreme Court did not agree. <script type="text/javascript">
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"A transportation worker need not work in the transportation industry to fall within the exemption from the FAA … provided in the Act" Roberts wrote. "The Second Circuit erred in compelling arbitration on the basis that petitioners work in the bakery industry."

This is the second time in two years that the Supreme Court has ruled on whether the FAA exemption applies only to workers who are employed by or working as a contractor for an entity that is clearly a transportation company.

In June 2022, the high court upheld a 7th Circuit appellate court decision in Southwest Airlines vs. Saxon that a ramp worker for Southwest (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/luv#NYSE">LUV</a>) was involved in interstate commerce even though the worker, Latrice Saxon, did not actually transport goods. 

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In the decision that the 7th Circuit overturned, the lower court had found Saxon was not involved in interstate commerce and was therefore mandated to take her complaints about wages to arbitration. The appellate decision reversed that and ruled she was a transportation worker, a ruling the Supreme Court affirmed.

The Saxon decision came soon after the original decision by the 2nd Circuit that Bissonnette and Wojnarowski were not involved in interstate commerce and therefore not able to claim the FAA exemption from mandatory arbitration. Post-Saxon, the court took another look at the issue and stuck to its original finding: The Flowers Food route franchisees were in the bakery business, not the transportation business, and needed to arbitrate their pay dispute with Flowers rather than take it to court.

Recapping legal arguments by Flowers — whose products include Wonder Bread and Tastykake — Roberts said the company had asserted that "virtually all workers who load or unload goods, from pet shop employees to grocery store clerks" could be viewed as being involved in interstate commerce and therefore exempt from arbitration under the FAA.

"We have never understood [the FAA] to define the class of exempt workers in such limitless terms" Roberts wrote in response. "To the contrary, as we held in Saxon, a transportation worker is one who is actively … engaged in transportation of goods across borders via the channels for foreign or interstate commerce."

To be exempt under the FAA, Roberts said in echoing Saxon, the worker "must at least play a direct and necessary role in the free flow of goods across borders."

<div>
"Does a pizza delivery company derive its revenue mainly from pizza or delivery?" he asked hypothetically.
</div>

<h2 id="h-implications-for-even-bigger-players">The post <a href="https://www.freightwaves.com/news/supreme-court-drivers-hauling-baked-goods-are-in-transportation-not-baking">Supreme Court: Drivers hauling baked goods are in transportation, not baking</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.</h2>

Government

Regulations

Legal

Supreme Court: Drivers Hauling Baked Goods Are in Transportation, Not Baking

Although U.S. stocks closed mixed on Wednesday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Flowers Foods </h3>
<ul>
<li>The Trade: Flowers Foods, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/flo#NYSE">FLO</a>) Director Edward J.. Casey Jr <a href="https://www.benzinga.com/quote/FLO/analyst-ratings"> acquired a total of 5,000 shares </a> an average price of $23.55. To acquire these shares, it cost around $117,750.</li>
<li>What&rsquo;s Happening: On Feb. 8, Flowers Foods posted downbeat quarterly earnings.</li>
<li>What Flowers Foods Does: Flowers Foods Inc is an American company producing bakery food for retail and foodservice across the United States.</li>
</ul>
<h3>Compass Diversified </h3>
<ul>
<li>The Trade: Compass Diversified (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/codi#NYSE">CODI</a>) Ryan J Faulkingham acquired a total of 4,250 shares at an average price of $23.46. To acquire these shares, it cost around $99,725.</li>
<li>What&rsquo;s Happening: On March 19, Citi Trends reported worse-than-expected fourth-quarter financial results.</li>
<li>What Compass Diversified Does: Compass Diversified Holdings is a diversified business conglomerate based in the United States having two groups: branded consumer business and industrial business.</li>
</ul>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>CVD Equipment </h3>
<ul>
<li>The Trade: CVD Equipment Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cvv#NASDAQ">CVV</a>) 10% owner ADA Partners, L.P. <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 217,554 shares </a> at an average price of $5.02. To acquire these shares, it cost around $1.08 million.</li>
<li>What&rsquo;s Happening: On March 28, CVD Equipment posted a loss for the fourth quarter.</li>
<li>What CVD Equipment Does: CVD Equipment Corp is engaged in the manufacturing of chemical vapor deposition equipment, customized gas control systems, the manufacturing of process equipment suitable for the synthesis of a variety of one-dimensional nanostructures and nanomaterials and a line of furnaces, all of which are used to produce semiconductors and other electronic components.</li>
</ul>
<h3>Ross Stores </h3>
<ul>
<li>The Trade: Ross Stores, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rost#NASDAQ">ROST</a>) President, CMO DD&#39;S Discounts Karen Fleming <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 3,482 shares </a> at an average price of $147.51. The insider spent around $5,230 to buy those shares.</li>
<li>What&rsquo;s Happening: On March 5, Ross Stores reported better-than-expected fourth-quarter results.</li>
<li>What Ross Stores Does: Ross Stores operates as an off-price apparel and accessories retailer with the majority of its sales derived from its Ross Dress for Less banner.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38067893/these-3-real-estate-stocks-with-over-3-dividend-yields-are-recommended-by-wall-streets-m"> These 3 Real Estate Stocks With Over 3% Dividend Yields Are Recommended By Wall Street&#39;s Most Accurate Analysts </a>
&nbsp;

Long Ideas

Small Cap

Insider Trades

CODI

ROST

Over $1M Bet On This Industrial Stock? Check Out These 4 Stocks Insiders Are Buying

The Nasdaq 100 closed lower by around 150 points on Wednesday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company&rsquo;s prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Gap </h3>
<ul>
<li>The Trade: The Gap, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gps#NYSE">GPS</a>) Chief Legal &amp; Compliance Officer Julie Gruber <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 24,180 shares </a> at an average price of $23.00. The insider received around $556,140 from selling those shares.</li>
<li>What&rsquo;s Happening: On March 7, The Gap reported stronger-than-expected financial results for its fourth quarter.</li>
<li>What Gap Does: Gap retails apparel, accessories, and personal-care products under the Gap, Old Navy, Banana Republic, and Athleta brands.</li>
</ul>
Have a look at our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Flowers Foods</h3>
<ul>
<li>The Trade: Flowers Foods, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/flo#NYSE">FLO</a>) Chief Growth Officer Terry S Thomas <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 36,577 shares </a> at an average price of $23.11. The insider received around $845,162 from selling those shares.</li>
<li>What&rsquo;s Happening: On Feb. 8, Flowers Foods posted downbeat quarterly earnings.</li>
<li>What Flowers Foods Does: Flowers Foods Inc is an American company producing bakery food for retail and foodservice across the United States.</li>
</ul>
<h3>BJ&#39;s Wholesale Club </h3>
<ul>
<li>The Trade: BJ&#39;s Wholesale Club Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bj#NYSE">BJ</a>) Director Christopher J Baldwin <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 73,062 shares </a> at an average price of $73.95. The insider received around $5.4 million from selling those shares.</li>
<li>What&rsquo;s Happening: On March 7, BJ&rsquo;s Wholesale reported fourth-quarter FY23 sales growth of 8.7% year-on-year to $5.36 billion, missing the analyst consensus of $5.39 billion.</li>
<li>What BJ&#39;s Wholesale Club Does: BJ&#39;s Wholesale Club Holdings Inc is a warehouse club and gas station operator. The company provides various products such as television and electronics, furniture, computers and tablets, appliances, food products, and others.</li>
</ul>
<h3>MGM Resorts International </h3>
<ul>
<li>The Trade: MGM Resorts International (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mgm#NYSE">MGM</a>) Director Keith A. Meister <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 425,000 shares </a> at an average price of $42.92. The insider received around $18.24 million from selling those shares.</li>
<li>What&rsquo;s Happening: On Feb. 13, MGM Resorts reported fourth-quarter revenue of $4.38 billion, which was up 22% year-over-year.</li>
<li>What MGM Resorts International Does: MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/24/03/37618477/top-5-energy-stocks-you-may-want-to-dump-in-march"> Top 5 Energy Stocks You May Want To Dump In March </a>
&nbsp;

Short Ideas

MGM Resorts, BJ's Wholesale Club And 2 Other Stocks Insiders Are Selling

DA Davidson analyst Brian Holland initiates coverage on Flowers Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) with a Neutral rating and announces Price Target of $24.

Initiation

DA Davidson Initiates Coverage On Flowers Foods with Neutral Rating, Announces Price Target of $24

Flowers Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) reported its Q4 earnings results on Thursday, February 8, 2024 at 04:10 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Flowers Foods missed estimated earnings by 4.76%, reporting an EPS of $0.2 versus an estimate of $0.21.
Revenue was up $46.00 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.01 which was followed by a 6.9% drop in the share price the next day.
Here's a look at Flowers Foods's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.28</td>
<td>0.28</td>
<td>0.38</td>
<td>0.23</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.29</td>
<td>0.33</td>
<td>0.38</td>
<td>0.23</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>1.21B</td>
<td>1.20B</td>
<td>1.55B</td>
<td>1.10B</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>1.20B</td>
<td>1.23B</td>
<td>1.53B</td>
<td>1.08B</td>
</tr>
</tbody>
</table>

To track all earnings releases for Flowers Foods <a href="https://www.benzinga.com/quote/FLO/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Recap: Flowers Foods Q4 Earnings

Flowers Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) reported quarterly earnings of $0.20 per share which missed the analyst consensus estimate of $0.21 by 4.76 percent. This is a 13.04 percent decrease over earnings of $0.23 per share from the same period last year. The company reported quarterly sales of $1.13 billion which met the analyst consensus estimate. This is a 4.25 percent increase over sales of $1.08 billion the same period last year.

Flowers Foods Q4 2023 Adj EPS $0.20 Misses $0.21 Estimate, Sales $1.13B Inline

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Earnings Scheduled For February 8, 2024

Although U.S. stocks closed higher on Thursday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Occidental Petroleum </h3>
<ul>
<li>The Trade: Occidental Petroleum Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oxy#NYSE">OXY</a>) 10% owner Warren E Buffett <a href="https://www.benzinga.com/quote/OXY/analyst-ratings"> acquired a total of 5,182,615 shares </a> an average price of $60.22. To acquire these shares, it cost around $312.09 million.</li>
<li>What&rsquo;s Happening: Raymond James analyst John Freeman, last week, maintained Occidental Petroleum with a Strong Buy and lowered the price target from $84 to $70.</li>
<li>What Occidental Petroleum Does: Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East.</li>
</ul>
<h3>Flowers Foods </h3>
<ul>
<li>The Trade: Flowers Foods, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/flo#NYSE">FLO</a>) CFO Steve Kinsey acquired a total of 1,780 shares at an average price of $22.46. To acquire these shares, it cost around $39,982.</li>
<li>What&rsquo;s Happening: Flowers Foods, last month, reported worse-than-expected third-quarter revenue results and issued FY23 revenue guidance below estimates.</li>
<li>What Flowers Foods Does: Flowers Foods Inc is an American company producing bakery food for retail and foodservice across the United States.</li>
</ul>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>ASA Gold and Precious Metals </h3>
<ul>
<li>The Trade: ASA Gold and Precious Metals Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/asa#NYSE">ASA</a>) 10% owner Boaz Weinstein <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 223,381 shares </a> at an average price of $15.94. To acquire these shares, it cost around $3.56 million.</li>
<li>What&rsquo;s Happening: The company&rsquo;s stock gained around 12% over the past month.</li>
<li>What ASA Gold and Precious Metals Does: ASA Gold And Precious Metals Ltd is a closed-end, non-diversified investment company.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/23/12/36342622/top-5-industrials-stocks-that-are-ticking-portfolio-bombs"> Top 5 Industrials Stocks That Are Ticking Portfolio Bombs </a>

$312M Bet On Occidental Petroleum? Check Out These 4 Stocks Insiders Are Buying

Truist Securities analyst Bill Chappell maintains Flowers Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) with a Hold and lowers the price target from $25 to $23.

Truist Securities Maintains Hold on Flowers Foods, Lowers Price Target to $23

Flowers Foods, Inc. 2024 Q2 - Results - Earnings Call Presentation

Flower Foods Q2 profit rises but sets cautious guidance on uncertain consumer landscape

Flowers Foods, Inc. (FLO) Q2 2024 Earnings Call Transcript

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Flowers Foods (NYSE:<a href="https://investorplace.com/stock-quotes/flo-stock-quote/">FLO</a>) just reported results for the second quarter of 2024.<ul><li>Flowers Foods reported earnings per share of 36 cents. This was above the analyst estimate for EPS of 33 cents.</li><li>The company reported revenue of $1.23 billion.</li><li>This was 1.21% worse than the analyst estimate for revenue of $1.24 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget AI... THIS Technology Is the Future&rdquo;</a>
					</li>
									</ul>The post <a href="https://investorplace.com/earning-results/2024/08/flo-stock-earnings-flowers-foods-for-q2-of-2024/">FLO Stock Earnings: Flowers Foods Beats EPS, Misses Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

FLO Stock Earnings: Flowers Foods Beats EPS, Misses Revenue for Q2 2024

Companies in the Consumer Goods sector have received a lot of coverage today as analysts weigh in on Coca-Cola (KO – Research Report), Flowers Food...

Analysts Offer Insights on Consumer Goods Companies: Coca-Cola (KO), Flowers Foods (FLO) and Calavo Growers (CVGW)

Flowers Foods declares $0.24 dividend

I Have Soured On Lancaster Colony

Dividend Champion, Contender, And Challenger Highlights: Week Of September 1

CPI read: Food at home prices were up less than 1% in August

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Flowers Foods

Flowers Foods (FLO) Forecast

Flowers Foods (NYSE:FLO) Stock, Quote.Headers.trade-ideas