JM Smucker Stock (NYSE:SJM), Trade Ideas

JM Smucker

J.M. Smucker is a packaged food company that primarily sells through the US retail channel (77% of forecast fiscal 2024 revenue), with the remaining share consisting of Hostess, foodservice, and international (primarily Canada). Following the divestiture of several pet foods brands and private-label products that constituted about $1.5 billion of sales, retail coffee is now its largest category (33% of sales) with brands Folgers and Dunkin'. Pet foods (22% of sales) holds leading brands like Milk-Bone and Meow Mix. Of its remaining, approximately 22% comes from consumer foods, primarily peanut butter and jelly, through brands Jif and Smucker's. The company acquired Hostess Brands in fiscal 2024 to boost its snack and convenience store presence.

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TSX:ATD

These changes are a reaction to the persistent price increases over recent years.

Food Giants Pivot To Discounts And New Sizes Amid Decreased Spending by Low-Income Americans

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During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a  high dividend payout. 

These 3 Risk Off Stocks With Over 3% Dividend Yields Are Recommended By Wall Street&#39;s Most Accurate Analysts

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February labor report shows mixed signals: increase in non-farm payrolls but higher unemployment rate and downward revisions. Wage growth lower than expected, fueling bets on Fed rate cuts. Stocks react with slight increase, top gainers include Atlassian, JM Smucker, GFL Environmental.

Fed Rate Cut Expectations Rise After February Jobs Report: Friday&#39;s Stock Movers

JM Smucker Co

SJM HOLDINGS LTD ORD by SJM Holdings Ltd.

SJM Holdings Ltd

SJM HLDGS LTD UNSP/ADR by SJM Holdings Ltd.

TD Cowen analyst Robert Moskow maintains JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) with a Buy and lowers the price target from $150 to $140.

TD Cowen Maintains Buy on JM Smucker, Lowers Price Target to $140

In light of the economic pressures on low-income households, leading food corporations are revamping their product lines and marketing strategies. This pivot aims to accommodate the changing spending habits as consumers face financial constraints.
What Happened: Companies such as Kraft Heinz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) and Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) are altering their offerings in response to the decreased spending by Americans dependent on government assistance, Reuters reported on Monday. These changes are a reaction to the persistent price increases over recent years.
Low-income consumers, typically earning below $35,000 a year, are now more inclined to cook from scratch or reduce their purchases, affecting sales volumes for major food and beverage producers. Dollar Tree (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) CEO Richard Dreiling emphasized the difficulties posed by reduced SNAP benefits during a recent earnings call. At Circle K stores, part of Alimentation Couche-Tard (TSX:<a class="ticker" href="https://www.benzinga.com/stock/ATD#TSX">ATD</a>), there has been a notable 40% decline in food stamp sales year-over-year, as stated by CEO Brian Hannasch.
Conagra is set to introduce budget-friendly Banquet chicken patties in late May, marking a departure from the premium-centric approach prevalent during the pandemic. 
Now food companies must "make sure they are attracting the value buyer back into the fold," said Duleep Rodrigo, U.S. consumer and retail sector leader at KPMG. 
"They can't get volume without this key segment."
See Also: <a href="https://www.benzinga.com/news/24/04/38131413/trumps-niece-says-ny-attorney-general-letitia-james-doing-perfect-job-holding-ex-president-accountab?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Niece Says NY Attorney General Letitia James Doing Perfect Job Holding Ex-President Accountable Every Step Of Way: &#8216;No One Can Sidestep The Law&#8217;</a>
Adjustments are also being made by Hershey (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>), and Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) in their product sizes and promotions to provide better deals. Nissin Foods is leveraging promotions to encourage stockpiling, while food giants like Kraft Heinz, WK Kellogg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>), and Kellanova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>) are increasing discounts, according to a Jefferies research note.
Conagra&#8217;s CEO Sean Connolly spoke of a strategy involving more regular, modest discounts to attract consumers. Chicago resident Charsetta Reed, for example, is turning to Dollar Tree for more economical grocery options. Conagra&#8217;s canned meats and corn-based snacks are witnessing a rise in sales, as are Jif peanut butter products from J.M. Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>), a cost-effective protein choice.
Why It Matters: The strategic shift by food companies comes against a backdrop of growing financial strain on American households. Food has become the<a href="https://www.benzinga.com/personal-finance/24/03/37623381/americans-struggle-as-food-becomes-third-biggest-expense-for-household-budgets-see-how-your-budg"> third-largest household expense</a>, with the average American household spending about $6,080 monthly on a $94,003 income, based on 2022 data from the U.S. Bureau of Labor Statistics.
Moreover, 73% of Gen Z have<a href="https://www.benzinga.com/personal-finance/24/04/38020257/the-economy-is-taking-its-toll-on-gen-z-73-have-changed-their-spending-habits-because-of-increas"> altered their spending habits</a> due to rising prices, underscoring the widespread impact of inflation across demographics. These economic conditions are prompting food companies to reassess and adapt their strategies to maintain sales and meet the needs of cost-conscious consumers.
Read Next: <a href="https://www.benzinga.com/news/24/04/38133891/donald-trump-says-it-would-be-a-great-honor-if-he-were-jailed-for-breaching-gag-order-i-will-gladly?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Says It Would Be A &#8216;Great Honor&#8217; If He Were Jailed For Breaching Gag Order: &#8216;I Will Gladly Become A Modern Day Nelson Mandela&#8217;</a>
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During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a <a href="https://www.benzinga.com/yield-investments"> high dividend payout. </a>
Benzinga readers can review the latest analyst takes on&nbsp;their favorite stocks&nbsp;by visiting our&nbsp;<a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings&nbsp;</a>page. Traders can sort through Benzinga&#39;s extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie"> by analyst accuracy </a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the consumer staples sector.
<h3>The Coca-Cola Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ko#NYSE">KO</a>)</h3>
<ul>
<li>Dividend Yield: 3.21%</li>
<li>JP Morgan analyst Andrea Teixeira maintained an Overweight rating and raised the price target from $64 to $66 on Feb. 14, 2024. This analyst has an accuracy rate of 63%.</li>
<li>Barclays analyst Lauren Lieberman maintained an Overweight rating and boosted the price target from $60 to $66 on Jan. 16, 2024. This analyst has an accuracy rate of 62%.</li>
<li>Recent News: On Feb. 15, The Coca-Cola Company announced a quarterly dividend increase from 46 to 48.5 cents per share.</li>
</ul>
<h3>The J. M. Smucker Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sjm#NYSE">SJM</a>)</h3>
<ul>
<li>Dividend Yield: 3.42%</li>
<li>Stifel analyst Matthew Smith reiterated a Buy rating with a price target of $135 on March 12, 2024. This analyst has an accuracy rate of 66%.</li>
<li>Wells Fargo analyst Chris Carey initiated coverage on the stock with an Overweight rating and a price target of $140 on Dec. 12, 2023. This analyst has an accuracy rate of 63%.</li>
<li>Recent News: On Feb. 27, J.M. Smucker posted better-than-expected earnings for its fourth quarter.</li>
</ul>
<h3>General Mills, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gis#NYSE">GIS</a>)</h3>
<ul>
<li>Dividend Yield: 3.43%</li>
<li>Stifel analyst Matthew Smith maintained a Buy rating and boosted the price target from $68 to $77 on March 21, 2024. This analyst has an accuracy rate of 66%.</li>
<li>Piper Sandler analyst Michael Lavery maintained an Overweight rating and cut the price target from $77 to $76 on Dec. 15, 2023. This analyst has an accuracy rate of 71%.</li>
<li>Recent News: On March 20, General Mills reported better-than-expected fourth-quarter financial results.</li>
</ul>
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Read More: <a href="https://www.benzinga.com/news/earnings/24/03/37885620/fedex-nike-and-3-stocks-to-watch-heading-into-friday"> FedEx, Nike And 3 Stocks To Watch Heading Into Friday </a>

These 3 Risk Off Stocks With Over 3% Dividend Yields Are Recommended By Wall Street's Most Accurate Analysts

Stifel analyst Matthew Smith reiterates JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) with a Buy and maintains $135 price target.

Reiteration

Stifel Reiterates Buy on JM Smucker, Maintains $135 Price Target

The February labor market report presented mixed signals on the employment front, with a notable and larger-than-expected increase of 270,000 in nonfarm payrolls over the month, yet a higher-than-expected rise in the unemployment rate, moving <a href="https://www.benzinga.com/news/econ-s/24/03/37558250/february-jobs-growth-beats-estimates-but-unemployment-rate-rises-to-3-9-wage-growth-eases">from 3.7% to 3.9%.</a>
Additionally, the employment changes for December and January were revised downwards, subtracting a total of 167,000 nonfarm payrolls previously calculated for those two months.
Perhaps the clearest data came from the trend in wages, which grew less than expected, thereby alleviating fears about their potential impact on inflation.
In February, the pace of increase in average hourly earnings was 0.1%, a decrease from the 0.4% in January and lower than the expected 0.3%. On an annual basis, wage growth is 4.3%, down from the 4.4% expected and from January&#8217;s figure.
Overall, the data from the February labor market report has further fueled market bets on Federal Reserve rate cuts.
Traders assign an 83% probability on a rate cut occurring by June, as per CME Group&#8217;s FedWatch Tool. Additionally, they estimate a total of 105 basis points of cuts by the end of the year, implying a scenario where four cuts are fully priced in.
Stocks slightly increased after the release, with futures on the S&amp;P 500 index up by 0.3%, and those on the tech-heavy Nasdaq 100 inching 0.2% higher. The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) closed at an all-time high on Thursday. 
<h2 class="wp-block-heading">Stock Movers On Friday&#8217;s Morning Trading</h2>
Below is a list of stocks (with at least $10 billion of market capitalization) reacting to the job report release, as indicated by data from the <a href="https://pro.benzinga.com/dashboard">Benzinga Pro platform.</a>
Top Gainers After Jobs Report
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<table>
<tbody>
<tr>
<td>Name</td>
<td>%Change between 08:30-09:20 ET</td>
</tr>
<tr>
<td>Atlassian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>)</td>
<td>2.0%</td>
</tr>
<tr>
<td>JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>)</td>
<td>1.87%</td>
</tr>
<tr>
<td>GFL Environmental (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFL#NYSE">GFL</a>)</td>
<td>1.84%</td>
</tr>
<tr>
<td>Petrobras Brasileiro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBR#NYSE">PBR</a>)</td>
<td>1.65%</td>
</tr>
<tr>
<td>Southern Copper (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>)</td>
<td>1.58%</td>
</tr>
<tr>
<td>A.O. Smith (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AOS#NYSE">AOS</a>)</td>
<td>1.53%</td>
</tr>
<tr>
<td>Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>)</td>
<td>1.52%</td>
</tr>
</tbody>
</table>
</figure>
Worst Losers After Jobs Report
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>%Change between 08:30-09:20 ET</td>
</tr>
<tr>
<td>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)​</td>
<td>-2.59%</td>
</tr>
<tr>
<td>Samsara Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IOT#NYSE">IOT</a>)</td>
<td>-1.79%</td>
</tr>
<tr>
<td>Williams-Sonoma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>)</td>
<td>-1.67%</td>
</tr>
<tr>
<td>Suzano S.A.</td>
<td>-1.35%</td>
</tr>
<tr>
<td>Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>)</td>
<td>-1.29%</td>
</tr>
<tr>
<td>Barrick Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>)​</td>
<td>-1.24%</td>
</tr>
<tr>
<td>Ambev S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABEV#NYSE">ABEV</a>)</td>
<td>-1.19%</td>
</tr>
<tr>
<td>Skyworks Solutions</td>
<td>-1.18%</td>
</tr>
</tbody>
</table>
</figure>
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Photo: Shutterstock

Fed Rate Cut Expectations Rise After February Jobs Report: Friday's Stock Movers

DA Davidson analyst Brian Holland initiates coverage on JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) with a Neutral rating and announces Price Target of $132.

Initiation

DA Davidson Initiates Coverage On JM Smucker with Neutral Rating, Announces Price Target of $132

Barclays analyst Andrew Lazar maintains JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) with a Equal-Weight and raises the price target from $129 to $132.

Barclays Maintains Equal-Weight on JM Smucker, Raises Price Target to $132

Citigroup analyst Thomas Palmer maintains JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) with a Buy and lowers the price target from $153 to $152.

Citigroup Maintains Buy on JM Smucker, Lowers Price Target to $152

JP Morgan analyst Ken Goldman maintains JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) with a Neutral and raises the price target from $126 to $128.

JP Morgan Maintains Neutral on JM Smucker, Raises Price Target to $128

Stifel analyst Matthew Smith upgrades JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) from Hold to Buy and maintains the price target from $135 to $135.

Upgrades

Stifel Upgrades JM Smucker to Buy, Maintains Price Target to $135

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the &quot;Extreme Greed&quot; zone on Tuesday.
U.S. stocks closed mixed on Tuesday, with the S&amp;P 500 ending the session with modest gains. However, the Dow Jones index settled lower on Tuesday.
The J.M. Smucker Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sjm#NYSE">SJM</a>) posted better-than-expected earnings for its fourth quarter on Tuesday. Macy&rsquo;s Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/m#NYSE">M</a>) reported mixed quarterly results and announced plans to close 150 stores. Zoom Video Communications, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zm#NASDAQ">ZM</a>) reported better-than-expected fourth-quarter financial results, issued FY25 adjusted EPS guidance above estimates, and authorized a $1.5 billion stock repurchase program.
On the economic data front, U.S. durable goods orders fell by 6.1% month-over-month in January compared to a 0.3% decline in December. The S&amp;P CoreLogic Case-Shiller 20-city home price index climbed by 6.1% year-over-year in December.
Most sectors on the S&amp;P 500 closed on a positive note, with utilities and communication services recording the biggest gains on Tuesday. However, energy and healthcare stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed lower by around 97 points to 38,972.41 on Tuesday. The S&amp;P 500 rose 0.17% at 5,078.18, while the Nasdaq Composite gained 0.37% at 16,035.30 during Tuesday&rsquo;s session.
Investors are awaiting earnings results from Salesforce, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crm#NYSE">CRM</a>), HP Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hpq#NYSE">HPQ</a>), Advance Auto Parts, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aap#NYSE">AAP</a>), and The TJX Companies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tjx#NYSE">TJX</a>) today.
At a current reading of 77.6, the index remained in the &quot;Extreme Greed&quot; zone on Tuesday, versus a prior reading of 75.7.
What is CNN Business Fear &amp; Greed Index?
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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Read Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/02/37334872/over-1m-bet-on-this-industrial-stock-check-out-these-4-stocks-insiders-are-buying"> Over $1M Bet On This Industrial Stock? Check Out These 4 Stocks Insiders Are Buying</a>

Earnings

Investor Sentiment Improves Following Economic Reports; S&P 500 Settles Higher

WIIM

JM Smucker shares are trading lower after the company reported Q3 financial results.

U.S. stocks traded mixed toward the end of trading, with the Dow Jones index falling more than 100 points on Tuesday.
The Dow traded down 0.35% to 38,932.26 while the NASDAQ rose 0.28% to 16,021.41. The S&amp;P 500 also rose, gaining, 0.04% to 5,071.40.
Check This Out: <a href="https://www.benzinga.com/news/24/02/37331804/wall-streets-most-accurate-analysts-views-on-3-risk-off-stocks-with-over-5-dividend-yields"> Wall Street&#39;s Most Accurate Analysts&#39; Views On 3 Risk Off Stocks With Over 5% Dividend Yields </a>
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<h3>Leading and Lagging Sectors</h3>
&nbsp;
Utilities shares rose by 1.2% on Tuesday.
In trading on Tuesday, energy shares fell by 0.4%.
&nbsp;
<h3>Top Headline</h3>
&nbsp;
The J.M. Smucker Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sjm#NYSE">SJM</a>) posted better-than-expected earnings for its fourth quarter on Tuesday.
The company reported third-quarter adjusted earnings per share of $2.48, beating the analyst consensus of $2.27. J.M. Smucker registered quarterly revenues of $2.229 billion, marginally beating the consensus estimate of $2.220 billion.
&nbsp;
<h3>Equities Trading UP</h3>
&nbsp;
Janux Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/janx#NASDAQ">JANX</a>) shares shot up 191% to $44.00 after the company announced updated clinical data for both of its clinical programs.
Shares of Hims &amp; Hers Health, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hims#NYSE">HIMS</a>) got a boost, surging 32% to $13.50 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.
Viking Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vktx#NASDAQ">VKTX</a>) shares were also up, gaining 94% to $74.79 after the company announced the Phase 2 VENTURE trial successfully achieved its primary endpoint and all secondary endpoints.
&nbsp;
<h3>Equities Trading DOWN</h3>
&nbsp;
Minerva Neurosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nerv#NASDAQ">NERV</a>) shares dropped 57% to $2.95 after the company announced it received a Complete Response Letter from the FDA for the New Drug Application for roluperidone for the treatment of negative symptoms in patients with schizophrenia.
Shares of Thoughtworks Holding, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/twks#NASDAQ">TWKS</a>) were down 31% to $3.1785 after the company reported worse-than-expected fourth-quarter financial results and issued weak guidance.
NRx Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nrxp#NASDAQ">NRXP</a>) was down, falling 33% to $0.2851 after the company announced pricing of $1.5 million underwritten public offering of common stock at a price of $0.30/share together with investor commitment for additional $1 million.
Also Check This Out:<a href="https://www.benzinga.com/news/24/02/37334066/top-3-energy-stocks-that-could-sink-your-portfolio-in-q1"> Top 3 Energy Stocks That Could Sink Your Portfolio In Q1 </a>
&nbsp;
<h3>Commodities</h3>
&nbsp;
In commodity news, oil traded up 1.6% to $78.81 while gold traded up 0.1% at $2,041.60.
Silver traded fell 0.3% to $22.46 on Tuesday while copper rose 0.4% to $3.85.
&nbsp;
<h3>Euro zone</h3>
&nbsp;
European shares closed mixed today. The eurozone&rsquo;s STOXX 600 fell 0.18%, London&rsquo;s FTSE 100 fell 0.02% while Spain&rsquo;s IBEX 35 Index fell 0.24% The German DAX gained 0.76% French CAC 40 rose 0.23% while Italy&rsquo;s FTSE MIB Index rose 0.46%.
Bank lending to households in the Eurozone rose by 0.3% year-over-year to EUR 6.870 trillion for January. The consumer confidence indicator in France declined to 89 in February versus around two-year high level of 91 in the prior month. The GfK Consumer Climate Indicator for Germany climbed to a reading of -29.0 heading into March compared to February&#39;s level of 29.6.
&nbsp;
<h3>Asia Pacific Markets</h3>
&nbsp;
Asian markets closed higher on Tuesday, with Japan&rsquo;s Nikkei 225 gaining 0.01%, Hong Kong&rsquo;s Hang Seng Index climbing 0.94%, China&rsquo;s Shanghai Composite Index surging 1.29% and India&rsquo;s S&amp;P BSE Sensex gaining 0.4%.
Hong Kong recorded a trade surplus of $3.6 billion in January compared to a year-ago deficit of $25.4 billion. The annual inflation rate in Japan slowed to 2.2% in January compared to 2.6% in the earlier month.
&nbsp;
<h3>Economics</h3>
&nbsp;
U.S. durable goods orders fell by 6.1% month-over-month in January compared to a 0.3% decline in December.
The FHFA house price index rose 0.1% in December following a 0.4% increase in November.
The S&amp;P CoreLogic Case-Shiller 20-city home price index climbed by 6.1% year-over-year in December.
The Dallas Fed general business activity index for Texas&rsquo; service sector rose to -3.9 in February from -9.3 in the previous month
Now Read This: <a href="https://www.benzinga.com/news/24/02/37333478/roku-crocs-and-2-other-stocks-insiders-are-selling"> Roku, Crocs And 2 Other Stocks Insiders Are Selling </a>
&nbsp;

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Dow Dips Over 100 Points; J.M. Smucker Posts Upbeat Earnings

The J.M. Smucker Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) shares are&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/n37331374/the-j-m-smucker-co-announces-fiscal-2024-third-quarter-results" rel="noreferrer noopener">trading lower on Tuesday.</a>
The company reported third-quarter adjusted earnings per share of $2.48,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the analyst consensus of $2.27.</a>
J.M. Smucker registered quarterly revenues of $2.229 billion, marginally beating the consensus estimate of $2.220 billion. Revenues rose 1% year over year.
U.S. Retail Coffee net sales fell 1%, primarily driven by list price decreases. U.S. Retail Frozen Handheld and Spreads net sales rose 1%, primarily reflecting a favorable impact of lapping customer returns. U.S. Retail Pet Foods net sales slumped 39% year over year.
Gross profit increased by 9% owing to the favorable impact of the acquisition of Hostess Brands, higher net price realization, favorable volume/mix, and lower costs. Adjusted gross profit rose 12%.
Operating income decreased 6% year over year driven by a $98.3 million increase in special project costs, reflecting integration costs related to the acquisition of Hostess Brands.
Outlook:&nbsp;The company expects FY24 adjusted EPS in the range of $9.45 &#8211; $9.65 (prior view: $9.25 &#8211; $9.65)&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">versus analyst consensus of $9.52.</a>
Net sales are expected to decrease approximately 3.6% compared to the prior year, reflecting net sales of approximately $8.22 billion vs. $8.24 billion estimate (prior view: $8.25 billion at the mid-point).
Price Action: SJM shares are trading lower by 2.46% to $122.17 on the last check Tuesday. 
Photo by Willis Lam Via Flickr

Movers

Why J.M. Smucker Company Shares Are Falling Today

Guidance

J.M. Smucker Sees FY24 Adj. EPS $9.45-$9.65 vs $9.52 Est.

JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) reported quarterly earnings of $2.48 per share which beat the analyst consensus estimate of $2.27 by 9.25 percent. The company reported quarterly sales of $2.23 billion which beat the analyst consensus estimate of $2.22 billion by 0.42 percent. This is a 0.58 percent increase over sales of $2.22 billion the same period last year.

Earnings Beats

JM Smucker Q3 2024 Adj EPS $2.48 Beats $2.27 Estimate, Sales $2.23B Beat $2.22B Estimate

U.S. stocks are poised for a potential rebound on Tuesday after facing&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37319621/us-stocks-pause-alphabet-google-falls-on-gemini-woes-tesla-bitcoin-rallies-whats-dr" rel="noreferrer noopener">concerns about valuations</a>&nbsp;in the previous session. Early trading shows modest gains in major index futures, indicating continued market momentum. The day&#8217;s trading direction may be influenced by retail earnings reports, economic data releases, and a scheduled Fed speech. Traders may proceed cautiously ahead of key economic catalysts expected later in the week.
With February recording solid gains, markets could be aiming to close the month on a positive note. Investor sentiment leans towards risk-taking, as reflected in rallying cryptocurrencies, with&nbsp;Bitcoin&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) surpassing the $56,500 mark.
Monday&#8217;s Market Recap:
The market, which had been overbought, opened higher but later relinquished its gains, displaying volatility throughout the session. Monday&#8217;s subdued sentiment occurred as traders paused for a breather following the recent record highs in the broader market.
All three major indices ended the session slightly lower, although small-cap stocks, which had been underperforming, managed to buck the downtrend and finish moderately higher.
Eight of the 11 S&amp;P 500 sector classes closed lower for the day, primarily in the communication services, utility, and real estate sectors. Information technology (IT) stocks remained largely unchanged with a slight positive bias, while the consumer discretionary and energy sectors saw modest gains.
<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>-0.13%</td>
<td>15,976.25</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.38%</td>
<td>5,069.53</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.16%</td>
<td>39,069.23</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.61%</td>
<td>2,028.97</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> Analyst Color:</figcaption></figure>
As February is shaping up to be a strong month, an analyst pointed to historical data that augurs well for the market.
Calling it a &#8220;big takeaway,&#8221; Carson Group&#8217;s Ryan Detrick noted that the market records an average gain of 19.87% on the years when both January and February record gains.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Here&#39;s what the S&amp;P 500 looks like in years it gains in both Jan and Feb. Up 19.87% on average is the big takeaway. <a href="https://t.co/FgHbPfnBU2">pic.twitter.com/FgHbPfnBU2</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1762237651141140709?ref_src=twsrc%5Etfw">February 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
With just three sessions to go for February to end, the S&amp;P 500 is up 4.62%, adding onto the 1.59% gain in January.
Futures Today
 Futures Performance On Tuesday ( as of 5:30 a.m. ET)
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.17%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.09%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.04%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.25%</td>
</tr>
</tbody>
</table>
</figure>
<a href="https://www.benzinga.com/premarket/">In premarket trading</a> on Tuesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.11% to $506.55 and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.22% to $437.52, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Upcoming Economic Data:
The Commerce Department is due to release its durables goods orders report for January at 8:30 a.m. ET. Economists, on average, expect durable goods orders to dip 4.9% month-over-month, following December&#8217;s unchanged reading. Core durable goods orders excluding the volatile transportation orders, may have risen 0.2%, slower than the previous month&#8217;s 0.6% growth.
The S&amp;P/Case-Shiller as well as the Federal House Finance Agency will release the results of their separate house price surveys for December at 9 a.m. ET. The S&amp;P/Case-Shiller 20-city composite house price index is expected to increase a seasonally unadjusted 6% in December compared to 5.4% growth in November. FHFA&#8217;s house price index is expected to increase at a stable monthly rate of 0.3%.
Fed Vice Chair for Supervision Michael Barr is scheduled to speak at 9:05 a.m. ET.
The Conference Board is due to release its consumer confidence index for February at 10 a.m. ET, with economists, on average, estimating a reading of 115.1, up slightly from January&#8217;s 114.8.
See Also:<a href="https://www.benzinga.com/money/best-futures-brokers"> Best Futures Brokers</a>
Stocks In Focus:
<ul>
<li>Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) climbed nearly 12% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the company&#8217;s earnings announcement.</li>
<li>Other stocks moving on earnings are CarGurus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARG#NASDAQ">CARG</a>) (down about 13%), Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) (down over 7%), CAVA Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) (up about 9%) and Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>) (down about 15.50%).</li>
<li>American Tower Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMT#NYSE">AMT</a>), AutoZone, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>), Cracker Barrel Old Country Store, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBRL#NASDAQ">CBRL</a>), The J. M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>), Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>), Macy&#8217;s, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) and Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) are among the notable <a href="https://www.benzinga.com/calendars/earnings">companies due to release their quarterly results ahead of the market open.</a></li>
<li>Those reporting after the close include Agilent Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/A#NYSE">A</a>), Ambarella, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>), Beyond Meat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYND#NASDAQ">BYND</a>), eBay, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Devon Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Splunk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPLK#NASDAQ">SPLK</a>), Virgin Galactic Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPCE#NYSE">SPCE</a>) and Urban Outfitters, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>).</li>
</ul>
Commodities, Bonds, Other Global Equity Markets:
Crude oil futures slipped 0.04% to $77.55 in early European session on Tuesday after rallying 1.49% on Monday. The benchmark 10-year Treasury note edged down 0.031 percentage points at 4.268%. 
In Asia, Hong Kong and Chinese markets ended solidly higher, while the sentiment across the rest of the major markets was muted. European stocks held up in early trading, with Germany&#8217;s DAX leading the gains. 
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37328246/this-is-bidenomics-peter-schiff-says-cereal-for-dinner-trend-noted-by-kellogg-ceo-e">&#8216;This Is Bidenomics:&#8217; Peter Schiff Says Cereal-For-Dinner Trend Noted By Kellogg CEO Echoes &#8216;Jimmy Carter Days&#8217; Of Sweater-Wearing Amid High Heating Bills</a>
Photo by Tada Images on Shutterstock

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Nasdaq, S&P 500 Futures Grind Higher After Pause, Bitcoin Tops $56K: Analyst Spotlights 'Big Takeaway' That Augurs Well For Market

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LGVN

Earnings Scheduled For February 27, 2024

The CNN Money Fear and Greed index showed further decline in the overall market sentiment, but the index remained in the &quot;Extreme Greed&quot; zone on Monday.
U.S. stocks closed lower on Monday, ahead of some major economic reports due this week. Data on January&#39;s personal consumption expenditures price index will be released on Thursday. Data on GDP growth, durable goods, and manufacturing activity will also be released later this week.
All three major indices recorded gains last week, with the S&amp;P 500 gaining around 1.7% and the Dow adding 1.3% for the week.
Shares of Domino&rsquo;s Pizza Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dpz#NYSE">DPZ</a>) gained around 5.9% on Monday after the company reported better-than-expected fourth-quarter earnings. Intuitive Machines, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lunr#NASDAQ">LUNR</a>) shares dipped around 35% on Monday after the company said its lunar lander may have tipped over upon landing on the moon.
On the economic data front, building permits in the U.S. fell by 0.3% to an annual rate of 1.489 million in January. Sales of new single-family houses in the US. climbed by 1.5% from the prior month to an annualized rate of 661,000 in January.
Most sectors on the S&amp;P 500 closed on a negative note, with utilities, communication services, and real estate stocks recording the biggest losses on Monday. However, energy and consumer discretionary stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 62 points to 39,069.23 on Monday. The S&amp;P 500 fell 0.38% at 5,069.53, while the Nasdaq Composite fell 0.13% at 15,976.25 during Monday&rsquo;s session.
Investors are awaiting earnings results from The J. M. Smucker Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sjm#NYSE">SJM</a>), Macy&#39;s, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/m#NYSE">M</a>), Macy&#39;s, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/low#NYSE">LOW</a>), and AutoZone, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/azo#NYSE">AZO</a>) today.
At a current reading of 75.9, the index remained in the &quot;Extreme Greed&quot; zone on Monday, versus a prior reading of 77.5.
What is CNN Business Fear &amp; Greed Index?
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.
&nbsp;
Read Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/02/37310889/charles-colvard-and-2-other-stocks-under-1-insiders-are-buying"> Charles &amp; Colvard And 2 Other Stocks Under $1 Insiders Are Buying</a>

LUNR

Investor Optimism Falls Further Ahead Of Major Economic Reports

With U.S. stock futures trading lower this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
Wall Street expects Lowe&#39;s Companies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/low#NYSE">LOW</a>) to report quarterly earnings at $1.68 per share on revenue of $18.45 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Lowe&#39;s shares gained 0.5% to $232.40 in after-hours trading.
The Aaron&#39;s Company, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aan#NYSE">AAN</a>) reported a loss for the fourth quarter, while sales missed estimates. Aaron&#39;s shares tumbled 26.9% to $7.65 in the after-hours trading session.
Analysts are expecting Macy&#39;s, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/m#NYSE">M</a>) to earn $1.96 per share on revenue of $8.15 billion for the latest quarter. The company will release earnings before the markets open. Macy&#39;s shares gained 1.6% to $19.60 in after-hours trading.
Check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
Unity Software Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/u#NYSE">U</a>) reported mixed financial results for its fourth quarter. The company said it sees first-quarter strategic portfolio revenue in the range of $415 million to $420 million. Unity shares tumbled 19% to $26.75 in the after-hours trading session.
Analysts expect The J. M. Smucker Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sjm#NYSE">SJM</a>) to report quarterly earnings at $2.27 per share on revenue of $2.22 billion before the opening bell. Smucker shares gained 0.6% to $126.00 in after-hours trading.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/02/37305724/cramer-predicts-another-great-year-for-live-nation-for-eqt-hes-not-going-to-go-there"> Cramer Predicts &#39;Another Great Year&#39; For Live Nation; For EQT He&#39;s &#39;Not Going To Go There&#39; </a>

Macy's, Lowe's And 3 Stocks To Watch Heading Into Tuesday

Food prices run cooler than overall inflation in March

Wells Fargo analyst Christopher Carey maintained a Buy rating on JM Smucker (SJM – Research Report) yesterday and set a price target of $140.00. Th...

Wells Fargo Sticks to Their Buy Rating for JM Smucker (SJM)

In a report released today, Andrew Lazar from Barclays maintained a Hold rating on JM Smucker (SJM – Research Report), with a price target of $132....

Barclays Sticks to Their Hold Rating for JM Smucker (SJM)

Climate Change, El Nino And The New Parabolic Move In Commodities

J. M. Smucker declares $1.06 dividend

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
J. M. Smucker (NYSE:<a href="https://investorplace.com/stock-quotes/sjm-stock-quote/">SJM</a>) layoffs are a hot topic on Friday after the food company announced plans to cut a <a href="https://finance.yahoo.com/news/j-m-smucker-co-laying-192858648.html">small number of jobs</a>.



The J. M. Smucker layoffs will result in 24 employees at the food manufacturing company losing their jobs. The company says that these layoffs are part of a small restructuring.



To put that number in perspective, J. M. Smucker currently employs roughly 6,000 people. The small number of jobs cut has to do with an organizational evaluation to bring related functions to enhance efficiency.



Frank Cirillo, senior manager of corporate communications at J. M. Smucker, said the following about the job cuts.




&ldquo;Please know that any decision that impacts our employees is made only after careful consideration. Those employees who will be exiting the Company will be fully supported as they transition.&rdquo;




<h2>J. M. Smucker Layoffs Add to Growing Trend</h2>



J. M. Smucker joins an increasing number of companies that have been announcing layoffs recently. Many of them are doing so to reduce costs and streamline their operations.



This comes as the economy is still suffering from increasing inflation and high interest rates. These two factors are weighing on both companies and consumers.



SJM stock is up 1.9% on Friday. The stock is down 12.9% since the start of the year.



There are more stock market stories that traders can read about below!



We have all of the hottest stock market news ready to go on Friday! A few examples include what&rsquo;s going on with shares of Fisker&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/fsrn-stock-quote/">FSRN</a>), Tesla&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) and Li Auto&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/li-stock-quote/">LI</a>) stock today. All of that news is available at the following links!



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<li><a href="https://investorplace.com/2024/04/tsla-stock-teslas-moment-of-truth-is-next-week/">TSLA Stock: Tesla&rsquo;s &lsquo;Moment of Truth&rsquo; Is Next Week</a></li>



<li><a href="https://investorplace.com/2024/04/li-stock-falls-as-competition-concerns-mount-for-li-auto/">LI Stock Falls as Competition Concerns Mount for Li Auto</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/04/j-m-smucker-layoffs-2024-what-to-know-about-the-latest-smucker-job-cuts/">J. M. Smucker Layoffs 2024: What to Know About the Latest Smucker Job Cuts</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

J. M. Smucker Layoffs 2024: What to Know About the Latest Smucker Job Cuts

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Super Micro Computer (NASDAQ:<a href="https://investorplace.com/stock-quotes/smci-stock-quote/">SMCI</a>) stock is taking a beating on Friday after the company <a href="https://finance.yahoo.com/news/supermicro-announce-third-quarter-fiscal-130500447.html">announced the release date</a> for its upcoming earnings report.



A press release from Super Micro Computer released today reveals that it will publish its fiscal Q3 2024 earnings report after markets close on April 30. While there&rsquo;s nothing bad about this news it&rsquo;s what&rsquo;s missing that has investors worried.



Super Micro Computer typically released preliminary earnings ahead of its earnings report. The fact that it didn&rsquo;t do so with today&rsquo;s earnings date announcement has <a href="https://finance.yahoo.com/news/super-micro-drops-near-two-144739098.html">raised concerns among traders</a>.



This has some investors in SMCI stock anxious that it doesn&rsquo;t want to share results. They are taking this as a sign that Super Micro Computer may not have performed as well during the quarter as Wall Street was expecting.



<h2>What to Expect from SMCI Stock</h2>



No matter the case, the earnings report will be a big catalyst for SMCI stock. Whether its good or bad will depend on if the company can impress investors with its quarterly results.



Analysts are expecting Super Micro Computer to report earnings per share of $5.84 alongside revenue of $4.01 billion for the quarter. Traders will want to keep these numbers in mind when April 30 rolls around.



SMCI stock is down 17.8% as of Friday afternoon with some 9 million shares traded. That&rsquo;s closing in on its daily average trading volume of about 10.8 million shares.



There are more stock market stories ready to go below!



We have all of the hottest market happenings worth reporting on for Friday! That includes what&rsquo;s happening with shares of J. M. Smucker&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/sjm-stock-quote/">SJM</a>), Fisker&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/fsrn-stock-quote/">FSRN</a>) and Tesla&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) stock today. All of that news is ready to go at the following links!



<h2>More Stock Market News for Friday</h2>



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<li><a href="https://investorplace.com/2024/04/why-fisker-stock-is-up-100-over-the-past-5-trading-days/">Why Fisker Stock Is Up 100% Over the Past 5 Trading Days</a></li>



<li><a href="https://investorplace.com/2024/04/tsla-stock-teslas-moment-of-truth-is-next-week/">TSLA Stock: Tesla&rsquo;s &lsquo;Moment of Truth&rsquo; Is Next Week</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/04/why-is-super-micro-computer-smci-stock-down-18-today/">Why Is Super Micro Computer (SMCI) Stock Down 18% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is Super Micro Computer (SMCI) Stock Down 18% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Archer Aviation (NYSE:<a href="https://investorplace.com/stock-quotes/achr-stock-quote/">ACHR</a>) stock is in the news Friday after the electric vertical takeoff and landing (eVTOL) company announced plans to <a href="https://seekingalpha.com/news/4091497-archer-aviation-preps-for-electric-air-taxi-operations-in-india-in-2026">expand its business to India</a>.



According to recent comments from Archer Aviation CEO Adam Goldstein, the company is looking to hold a trial for its aircraft in the country next year. That would see it prepare for a commercial launch of an air taxi service starting in 2026.



If all goes well, this would make India the first international air taxi service Archer Aviation launches. However, it won&rsquo;t be the first market it operates in. The company is seeking to start its air taxi service in the U.S. next year.



Archer Aviation will also face competition in India from Joby Aviation (NYSE:<a href="https://investorplace.com/stock-quotes/joby-stock-quote/">JOBY</a>). Both companies want to offer air taxi services in India using their eVTOLs.



<h2>What This Means for ACHR Stock</h2>



Archer Aviation&rsquo;s decision to expand its business to India could be a positive catalyst for ACHR stock. Even so, traders want to see how the company handles commercial flights before putting too much faith in the stock.



As a result, shares of ACHR stock are down 1.7% on Friday afternoon despite the expansion news. This also comes with a low trading volume of 1.5 million shares as compared to a daily average of 5.6 million units.



We have even more of the most recent stock market stories that traders need to know about on Friday!



InvestorPlace is home to all of the hottest stock market stories available today. Among that is what has shares of Super Micro Computer&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/smci-stock-quote/">SMCI</a>), J. M. Smucker&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/sjm-stock-quote/">SJM</a>) and Fisker&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/fsrn-stock-quote/">FSRN</a>) stock in the news today. All of that info is ready at the links below!



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</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/04/achr-stock-alert-archer-aviation-preps-for-expansion-in-india/">ACHR Stock Alert: Archer Aviation Preps for Expansion in India</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.