Treehouse Foods (NYSE:THS) Stock, Quote.Headers.trade-ideas

Treehouse Foods

TreeHouse Foods is the largest pure-play private-label manufacturer in the US. Much larger in the past following the 2016 acquisition of Ralcorp, Conagra's former private-label business, the company has since divested several businesses to focus on high-growth categories. At present, the company produces and sells snacks (crackers, pretzels, cookies, and so on), beverages and drink mixes (such as nondairy creamer, coffee, tea), and a select number of grocery products (pickles, refrigerated dough, hot cereal, cheese, and pudding). Its most important sales channel is through retail grocery stores that sell its products under their own brands, with co-manufacturing and food away from home as much smaller channels of distribution for its fare.

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TreeHouse Foods Inc reported 2Q24 sales decline of 1.9%, beating consensus. Gross margin decreased, while adjusted EPS of $0.29 beat expectations. 

TreeHouse Foods Manages Sales Beat In Q2 Amid Challenges, Reaffirms 2024 Topline Outlook

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Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Should Value Investors Buy TreeHouse Foods Stock?

Small Cap

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UNFI

United Natural Foods, Inc. (NYSE: UNFI) demonstrates its resilience through strong dedication to digital innovation and improvements in its supply chain. The leading food provider is actively engaged in a comprehensive transformation journey centered around various strategic initiatives.

United Natural Gains on Strong E-Commerce Amid Setbacks

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Mizuho analyst John Baumgartner maintains Treehouse Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>) with a Neutral and raises the price target from $37 to $40.

Price Target

Mizuho Maintains Neutral on Treehouse Foods, Raises Price Target to $40

Barclays analyst Andrew Lazar maintains Treehouse Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>) with a Equal-Weight and raises the price target from $36 to $39.

Barclays Maintains Equal-Weight on Treehouse Foods, Raises Price Target to $39

Stifel analyst Matthew Smith maintains Treehouse Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>) with a Hold and raises the price target from $36 to $41.

Stifel Maintains Hold on Treehouse Foods, Raises Price Target to $41

TreeHouse Foods Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>) reported a second-quarter 2024 sales decline of 1.9% year-over-year to $788.5 million, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40156578/treehouse-foods-inc-reports-second-quarter-2024-results" rel="noreferrer noopener">beating the consensus of $783.649 million.</a>
The sales decrease was due to commodity pricing adjustments and planned distribution exits in coffee and in-store bakery categories, partially offset by new business wins and the Coffee Roasting Capability acquisition.
Gross margin for the quarter contracted 30 basis points year over year to 16.3%. Adjusted EBITDA from continuing operations was $70.6 million, compared to $76.3 million a year ago, and the margin was 9%, down 50 bps.
The company reported an operating loss of $4 million, compared to an operating income of $30.3 million last year. Operating expenses climbed 28.6% year over year to $132.3 million.
Adjusted EPS was $0.29, <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the analyst consensus of $0.13.</a>
&#8220;Our teams made significant progress converting net sales opportunities and executing on our supply chain initiatives this quarter. The combination of these efforts, along with our work to restore one of our Broth facilities, contributed to the improvement of our overall business performance and the building of momentum at TreeHouse,&#8221; commented Steve Oakland, Chairman, Chief Executive Officer, and President.
TreeHouse repurchased ~1.3 million shares of common stock for $44.8 million in the second quarter. The company held $105.8 million in cash and equivalents as of June-end.
Q3 Outlook: TreeHouse anticipates net sales of $865 million – $895 million versus the consensus of $887.08 million. Adjusted EBITDA from continuing operations is <a href="https://www.benzinga.com/calendars/guidance">expected to be $98 million – $108 million.</a>
2024 Outlook: TreeHouse continues to expect sales of $3.43 billion – $3.50 billion against an estimate of $3.455 billion. The company now expects FY24 adjusted EBITDA of $360 million – $380 million and capital expenditure of $145 million.
THS continues to expect a free cash flow of at least $130 million in 2024.
Price Action: THS shares traded higher by 2.05% at $40.11 at the last check Monday.

Organic volume and mix are expected to be up low-single digits. Pricing is expected to be approximately flat.
<div>Third quarter&nbsp;Adjusted EBITDA from continuing operations is expected in a range of&nbsp;$98&nbsp;to&nbsp;$108 million, which reflects a timing shift as a result of favorable freight costs moving into the&nbsp;second quarter&nbsp;from the&nbsp;third quarter.</div>
&nbsp;

Government

Regulations

TreeHouse Foods Expects Q3 Net Sales Of $865M - $895M, Which Represents Flat To 4% Growth Y/Y; Est $887.08M

<ul>
<li>Reaffirmed 2024&nbsp;outlook&nbsp;for net sales of&nbsp;$3.43&nbsp;to&nbsp;$3.50 billion&nbsp;and free cash flow&nbsp;of at least&nbsp;$130 million; narrowed adjusted EBITDA&nbsp;outlook&nbsp;of&nbsp;$360&nbsp;to&nbsp;$380 million.</li>
</ul>

TreeHouse Foods Continues To Expect FY24 Net Sales Of $3.43B - $3.50B, Which Represents Approximately 0% To 2% Y/Y Growth; Est $3.455B

Treehouse Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>) reported quarterly earnings of $0.29 per share which beat the analyst consensus estimate of $0.13 by 123.08 percent. The company reported quarterly sales of $788.500 million which beat the analyst consensus estimate of $783.649 million by 0.62 percent. This is a 6.53 percent decrease over sales of $843.600 million the same period last year.

Earnings Beats

Treehouse Foods Q2 2024 Adj. EPS From Continuing Operations $0.29 Beats $0.13 Estimate, Sales $788.500M Beat $783.649M Estimate

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.
Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the &quot;Value&quot; category. When paired with a high Zacks Rank, &quot;A&quot; grades in the Value category are among the strongest value stocks on the market today.
One company to watch right now is TreeHouse Foods (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ths#NYSE">THS</a>). THS is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock is trading with a P/E ratio of 14.45, which compares to its industry&#39;s average of 15.56. Over the past year, THS&#39;s Forward P/E has been as high as 18.35 and as low as 13.41, with a median of 15.81.
Investors should also recognize that THS has a P/B ratio of 1.25. The P/B is a method of comparing a stock&#39;s market value to its book value, which is defined as total assets minus total liabilities. This stock&#39;s P/B looks solid versus its industry&#39;s average P/B of 2.07. Over the past year, THS&#39;s P/B has been as high as 1.70 and as low as 1.16, with a median of 1.35.
Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. THS has a P/S ratio of 0.61. This compares to its industry&#39;s average P/S of 0.9.
Finally, our model also underscores that THS has a P/CF ratio of 12.18. This figure highlights a company&#39;s operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. THS&#39;s P/CF compares to its industry&#39;s average P/CF of 15.33. Within the past 12 months, THS&#39;s P/CF has been as high as 85.40 and as low as 10.04, with a median of 12.09.
These are only a few of the key metrics included in TreeHouse Foods&#39;s strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, THS looks like an impressive value stock at the moment.
<a href="https://www.zacks.com/stock/news/2304346/should-value-investors-buy-treehouse-foods-ths-stock?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_2-2304346">To read this article on Zacks.com click here.</a>

United Natural Foods, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unfi#NYSE">UNFI</a>) demonstrates its resilience through strong dedication to digital innovation and improvements in its supply chain. The leading food provider is actively engaged in a comprehensive transformation journey centered around various strategic initiatives. However, UNFI is bearing the brunt of macroeconomic factors, including inflationary pressures.
Let&#39;s delve deeper.
<h3>Strength in E-commerce Business</h3>
United Natural&#39;s sales are being positively impacted by its strong presence in e-commerce, supported by expanded solutions offered across its Independents and Chains channels. These offerings include digital platforms tailored to meet customer needs. The company&#39;s value-added supplier program, UNFI Insights, has been a success. The launch of Community Marketplace, a digital B2B e-commerce solution aimed at emerging brands, further enhances distribution opportunities with customers.
<h3>Enhancing Supply-Chain</h3>
UNFI is actively enhancing its supply chain processes and management disciplines to drive growth. The company&#39;s efforts have led to significant reductions in shrinkage, contributing positively to both financial performance and operational efficiency. Notably, the improved wholesale margin in third-quarter fiscal 2024 reflects ongoing shrinkage improvements, approaching pre-COVID levels of approximately 30 basis points as a percentage of sales. It anticipates further opportunities to reduce shrinkage, thereby enhancing profitability while maintaining strong relationships with customers and suppliers.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/14/71198.jpg?v=970883209" />
Image Source: Zacks Investment Research
<h3>Transformation on Track</h3>
United Natural is actively engaged in a comprehensive transformation journey that involves several strategic elements. The company is advancing toward improving margins and enhancing cash flow generation through targeted efforts in four key areas &mdash; expanding and intensifying network optimization, reducing annual capital expenditures, optimizing cost structures and cutting net working capital.
As part of this initiative, management is implementing short-term value-creation projects expected to enhance operational efficiencies. Building on the progress achieved in the past year, the company aims to refine its expense structure further, aiming for efficiencies comparable to the $150 million already realized. This optimization effort includes a cohesive and strategic approach to customer and supplier engagements, alongside better alignment of corporate resources in accordance with the updated strategy.
It intends to allocate around $300 million towards capital expenditures in the fiscal 2025, focusing on maintenance, targeted network enhancements and technology upgrades. This strategy aims to optimize resource allocation, bolster the overall business and balance sheet and enhance capacity for strategic investments in higher-margin segments such as services.
<h3>Hurdles on the Way</h3>
United Natural has been witnessing a challenging industry backdrop in the past few quarters. Consumers are buying less to manage their budgets and shifting away from traditional grocery stores, possibly seeking more affordable options like discount stores, bulk buys or online shopping. Third-quarter fiscal 2024 net sales declined slightly, thanks to lower unit volumes.
UNFI is bearing the brunt of weakness in the Retail business, a trend that persisted in the fiscal third quarter. The company&#39;s retail business faced challenges due to significant price sensitivity among consumers in the retail markets. We note that factors like economic pressures, reduced government assistance, changing consumer behavior and increased competition are affecting consumer spending, which is a concern.
That being said, United Natural&#39;s emphasis on the benefits mentioned above is expected to continue driving its growth narrative. The Zacks Rank #3 (Hold) company&#39;s shares have increased 29.3% in the past three months against the industry&#39;s decline of 4%.
<h3>Key Staple Picks</h3>
Vital Farms Inc.&nbsp;offers a range of produced pasture-raised foods. It currently sports a Zacks Rank #1 (Strong Buy). VITL has a trailing four-quarter average earnings surprise of 102.1%.
The Zacks Consensus Estimate for Vital Farms&#39; current financial-year sales and earnings indicates growth of 22.6% and 62.7%, respectively, from year-ago reported numbers.
Freshpet, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frpt#NASDAQ">FRPT</a>), a pet food company, has a trailing four-quarter earnings surprise of 118.2%, on average. FRPT currently sports a Zacks Rank #1.
The Zacks Consensus Estimate for Freshpet&#39;s current financial-year sales and earnings indicates growth of 24.8% and 177.1%, respectively, from the prior-year reported level.
Treehouse Foods (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ths#NYSE">THS</a>) is a manufacturer of packaged foods and beverages. The company currently has a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Treehouse Foods&#39; current financial-year sales and earnings indicates a decline of 1.6% and 8.5%, respectively, from the prior-year reported level. THS has a negative trailing four-quarter average earnings surprise of 4.5%.
<a href="https://www.zacks.com/stock/news/2300917/united-natural-unfi-gains-on-strong-e-commerce-amid-setbacks?cid=CS-BENZ-FT-analyst_blog|rank_focused-2300917">To read this article on Zacks.com click here.</a>

Providing a diverse range of perspectives from bullish to bearish, 4 analysts have published ratings on Treehouse Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>) in the last three months.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $36.5, a high estimate of $37.00, and a low estimate of $36.00. A decline of 4.77% from the prior average price target is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2024/1717682498_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The standing of Treehouse Foods among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>John Baumgartner</td>
<td>Mizuho</td>
<td>Announces</td>
<td>Neutral</td>
<td>$37.00</td>
<td>-</td>
</tr>
<tr>
<td>Andrew Lazar</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$36.00</td>
<td>$39.00</td>
</tr>
<tr>
<td>Robert Moskow</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Hold</td>
<td>$37.00</td>
<td>$38.00</td>
</tr>
<tr>
<td>Matthew Smith</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Hold</td>
<td>$36.00</td>
<td>$38.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Treehouse Foods. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Treehouse Foods compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Treehouse Foods's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Treehouse Foods's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/THS/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Treehouse Foods analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Discovering Treehouse Foods: A Closer Look</h2>
TreeHouse Foods is the largest pure-play private-label manufacturer in the US. Much larger in the past following the 2016 acquisition of Ralcorp, Conagra's former private-label business, the company has since divested several businesses to focus on high-growth categories. At present, the company produces and sells snacks (crackers, pretzels, cookies, and so on), beverages and drink mixes (such as nondairy creamer, coffee, tea), and a select number of grocery products (pickles, refrigerated dough, hot cereal, cheese, and pudding). Its most important sales channel is through retail grocery stores that sell its products under their own brands, with co-manufacturing and food away from home as much smaller channels of distribution for its fare.
<h3>Treehouse Foods: A Financial Overview</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Growth: Treehouse Foods's revenue growth over a period of 3 months has faced challenges. As of 31 March, 2024, the company experienced a revenue decline of approximately -3.9%. This indicates a decrease in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Consumer Staples sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of -1.43%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Treehouse Foods's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -0.71%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Treehouse Foods's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -0.29%, the company may face hurdles in achieving optimal financial returns.
Debt Management: With a high debt-to-equity ratio of 0.96, Treehouse Foods faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Expert Outlook: Treehouse Foods Through The Eyes Of 4 Analysts

Mizuho analyst John Baumgartner initiates coverage on Treehouse Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>) with a Neutral rating and announces Price Target of $37.

Initiation

Mizuho Initiates Coverage On Treehouse Foods with Neutral Rating, Announces Price Target of $37

Barclays analyst Andrew Lazar maintains Treehouse Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>) with a Equal-Weight and lowers the price target from $39 to $36.

Barclays Maintains Equal-Weight on Treehouse Foods, Lowers Price Target to $36

TD Cowen analyst Robert Moskow maintains Treehouse Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>) with a Hold and lowers the price target from $38 to $37.

TD Cowen Maintains Hold on Treehouse Foods, Lowers Price Target to $37

Stifel analyst Matthew Smith maintains Treehouse Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>) with a Hold and lowers the price target from $38 to $36.

Stifel Maintains Hold on Treehouse Foods, Lowers Price Target to $36

U.S. stocks were higher, with the Nasdaq Composite gaining over 100 points on Monday.
Shares of Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) fell sharply during Monday's session as the company reported a first-quarter fiscal 2024 revenue decline of 6.2% Y/Y to $1.265 billion, marginally missing the consensus of $1.269 billion. Adjusted EPS loss was $(1.46), down from $(0.82), <a href="https://www.benzinga.com/quote/SAVE/earnings">missing the consensus of $(1.45).</a>
Spirit Airlines shares dipped 9.8% to $3.3450 on Monday.
Here are some other big stocks recording losses in today's session.
<ul>
<li>EyePoint Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EYPT#NASDAQ">EYPT</a>) shares fell 37.7% to $12.29 after the company&#8217;s Phase 2 PAVIA trial of DURAVYU did not meet its pre-specified primary endpoint.</li>
<li>Integra LifeSciences Holdings Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IART#NASDAQ">IART</a>) shares tumbled 17.8% to $23.76 following weak second-quarter EPS guidance.</li>
<li>Bowlero Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOWL#NYSE">BOWL</a>) declined 16.7% to $10.40 in pre-market trading after posting weaker-than-expected quarterly results.</li>
<li>Braskem S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAK#NYSE">BAK</a>) shares dipped 15.5% to $7.63 in pre-market trading after shareholder Novonor said Adnoc has no interest in continuing the process on a potential transaction.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) declined 15.2% to $13.97 after the stock rose more than 40% last week.</li>
<li>Uniti Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UNIT#NASDAQ">UNIT</a>) declined 11.5% to $3.9489 after the company announced plans for a $300 million offering of 10.50% Senior Secured Notes due 2028 by its subsidiaries.</li>
<li>TreeHouse Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>) tumbled 10.3% to $33.41 after the company reported mixed first-quarter financial results including a net sales decline.</li>
<li>Jasper Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JSPR#NASDAQ">JSPR</a>) dipped 9.2% to $22.28. HC Wainwright &amp; Co. analyst Emily Bodnar initiated coverage on Jasper Therapeutics with a Buy rating and announced a price target of $65.</li>
<li>Critical Metals Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRML#NASDAQ">CRML</a>) declined 7.9% to $9.18.</li>
<li>Medical Properties Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPW#NYSE">MPW</a>) declined 8% to $4.48 after tenant Steward Health Care reportedly filed for bankruptcy protection.</li>
<li>Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) fell 7.8% to $57.18 following weak quarterly sales.</li>
<li>Allego N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLG#NASDAQ">ALLG</a>) declined 7.8% to $1.1799.</li>
<li>CureVac N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVAC#NASDAQ">CVAC</a>) fell 7.1% to $2.9080.</li>
<li>Titan International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWI#NYSE">TWI</a>) declined 6.7% to $9.36.</li>
<li>Geron Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GERN#NASDAQ">GERN</a>) fell 3.8% to $3.78.</li>
<li>Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) fell 3.8% to $299.53.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38646096/bitcoin-ethereum-move-lower-akash-network-becomes-top-loser">Bitcoin, Ethereum Move Lower; Akash Network Becomes Top Loser</a>

Intraday Update

Movers

ALLG

AMGN

BOWL

CRML

CVAC

EYPT

GERN

IART

Jasper Therapeutics, Inc. - Class A Common Stock

JSPR

SAVE

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Spirit Airlines Posts Weak Results, Joins Integra LifeSciences, Bowlero And Other Big Stocks Moving Lower On Monday

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 100 points on Monday.
The Dow traded up 0.18% to 38,744.60 while the NASDAQ rose 0.69% to 16,267.82. The S&amp;P 500 also rose, gaining, 0.61% to 5,158.84.
Check This Out: <a href="https://www.benzinga.com/news/24/05/38611902/wall-streets-most-accurate-analysts-views-on-3-tech-telecom-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Tech &amp; Telecom Stocks Delivering High-Dividend Yields</a>
Leading and Lagging Sectors Energy shares rose by 1.5% on Monday.
In trading on Friday, consumer staples shares fell by 0.4%.
Top Headline
Shares of TreeHouse Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>) fell around 9% on Monday after the company reported mixed first-quarter financial results.
The company reported a first-quarter FY24 sales of $820.70 million, beating the analyst consensus estimate of $797.18 million. Adjusted EPS of $(0.03) missed the analyst consensus of $(0.01).
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Perficient, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRFT#NASDAQ">PRFT</a>) shares shot up 53% to $73.53 after the company disclosed an acquisition deal and first-quarter FY24 results.</li>
<li>Shares of Strong Global Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGE#NYSE">SGE</a>) got a boost, surging 108% to $2.3783 fter FG Acquisition Corp. announced the proposed acquisition of Strong/MDI Screen Systems and the launch of Saltire Holdings.</li>
<li>XBP Europe Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XBP#NASDAQ">XBP</a>) shares were also up, gaining 53% to $3.2350. XBP Europe Holdings was recently awarded a $40 million multi-year contract for a nationwide transformation project for His Majesty&#8217;s Passport Office.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Lyra Therapeutics, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYRA#NASDAQ">LYRA</a>) shares dropped 87% to $0.5363 after the company announced the ENLIGHTEN 1 trial did not meet its primary endpoint.</li>
<li>Shares of GlycoMimetics, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLYC#NASDAQ">GLYC</a>) were down 79% to $0.3801 after the company announced topline results from its Phase 3 global pivotal study of uproleselan in relapsed/refractory acute myeloid leukemia (R/R AML).</li>
<li>EyePoint Pharmaceuticals, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EYPT#NASDAQ">EYPT</a>) was down, falling 39% to $11.99 after the company&#8217;s Phase 2 PAVIA trial of DURAVYU did not meet its pre-specified primary endpoint.</li>
</ul>
Also Check This Out: <a href="https://www.benzinga.com/news/24/05/38611794/top-2-consumer-stocks-that-may-plunge-this-quarter&quot;">Top 2 Consumer Stocks That May Plunge This Quarter</a>
Commodities In commodity news, oil traded up 1.1% to $78.95 while gold traded up 1.2% at $2,335.40.
Silver traded up 3.6% to $27.645 on Monday, while copper rose 1.4% to $4.6225.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.53%, Germany's DAX rose 0.96% and France's CAC 40 gained 0.49%. Spain's IBEX 35 Index rose 0.58%, while London's FTSE 100 rose 0.51%.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Japan's Nikkei falling 0.1%, Hong Kong's Hang Seng Index jumping 0.55% and India's S&amp;P BSE Sensex rising 0.02%.
Economics
No major economic reports will be released today.
Now Read This: <a href="https://www.benzinga.com/news/24/05/38641330/netflix-home-depot-and-more-on-cnbcs-final-trades">Netflix, Home Depot And More On CNBC&#8217;s &#8216;Final Trades</a>&#8216;

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Crude Oil Gains 1%; TreeHouse Foods Shares Fall After Q1 Results

Shares of Perficient, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRFT#NASDAQ">PRFT</a>) shares rose sharply during Monday's session after the company disclosed an acquisition deal and <a href="https://www.benzinga.com/quote/PRFT/earnings">first-quarter FY24 results</a>.
The company stated that it has entered into a definitive deal to be acquired by an affiliate of BPEA Private Equity Fund VIII (EQT Asia), part of EQT AB in an all-cash transaction at an enterprise value of around $3.0 billion.
Perficient shares jumped 53% to $73.60 on Monday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>BioCryst Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCRX#NASDAQ">BCRX</a>) gained 19% to $5.30 following strong first-quarter results.</li>
<li>Pacific Biosciences of California, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PACB#NASDAQ">PACB</a>) rose 15% to $2.1050.</li>
<li>Marathon Digital Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) gained 13.2% to $19.83.</li>
<li>Trupanion, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRUP#NASDAQ">TRUP</a>) rose 10.9% to $22.02. The company recently reported first-quarter financial results.</li>
<li>Ocugen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCGN#NASDAQ">OCGN</a>) surged 10.9% to $1.4750. Ocugen is expected to host conference call on Tuesday, May 14 to discuss business updates and first quarter 2024 financial results.</li>
<li>SNDL Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>) shares gained 10.5% to $2.5999.</li>
<li>SelectQuote, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLQT#NYSE">SLQT</a>) jumped 10.3% to $2.25. SelectQuote is expected to Release fiscal third quarter 2024 earnings on May 9.</li>
<li>Lotus Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOT#NASDAQ">LOT</a>) gained 9.4% to $7.80.</li>
<li>Atlas Energy Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AESI#NASDAQ">AESI</a>) rose 7.7% to $23.65, reversing from earlier weakness after reporting first-quarter results. The company also raised its dividend.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>EyePoint Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EYPT#NASDAQ">EYPT</a>) dipped 37.7% to $12.29 after the company&#8217;s Phase 2 PAVIA trial of DURAVYU did not meet its pre-specified primary endpoint.</li>
<li>Integra LifeSciences Holdings Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IART#NASDAQ">IART</a>) shares dropped 17.8% to $23.76 following weak second-quarter EPS guidance.</li>
<li>Bowlero Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOWL#NYSE">BOWL</a>) fell 16.7% to $10.40 in pre-market trading after posting weaker-than-expected quarterly results.</li>
<li>Braskem S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAK#NYSE">BAK</a>) shares declined 15.5% to $7.63 in pre-market trading after shareholder Novonor said Adnoc has no interest in continuing the process on a potential transaction.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) fell 15.2% to $13.97 after the stock rose more than 40% last week.</li>
<li>Uniti Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UNIT#NASDAQ">UNIT</a>) fell 11.5% to $3.9489 after the company announced plans for a $300 million offering of 10.50% Senior Secured Notes due 2028 by its subsidiaries.</li>
<li>TreeHouse Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>) dipped 10.3% to $33.41 after the company reported mixed first-quarter financial results including a net sales decline.</li>
<li>Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) declined 9.8% to $3.3450 as the company reported a first-quarter fiscal 2024 revenue decline of 6.2% Y/Y to $1.265 billion, marginally missing the consensus of $1.269 billion.</li>
<li>Critical Metals Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRML#NASDAQ">CRML</a>) fell 7.9% to $9.18.</li>
<li>Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) fell 7.8% to $57.18 following weak quarterly sales.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/05/38641042/how-to-earn-500-a-month-from-fmc-stock-ahead-of-q1-earnings">How To Earn $500 A Month From FMC Stock Ahead Of Q1 Earnings</a>

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Why Perficient Shares Are Trading Higher By Around 53%? Here Are 20 Stocks Moving In Monday's Mid-Day Session

TreeHouse Foods Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>) shares are trading lower after the company&#8217;s first-quarter revenue declined 3.9% <a href="https://www.benzinga.com//node/38637338">and the adjusted EPS missed the consensus.</a>
The company reported&nbsp;a first-quarter&nbsp;FY24 sales of $820.70 million, beating the analyst consensus estimate of $797.18 million.
The revenue decrease&nbsp;was primarily driven&nbsp;by unfavorable volume/mix due to planned distribution exits&nbsp;primarily&nbsp;in coffee and in-store bakery categories, as well as&nbsp;the restart of one of the broth facilities,&nbsp;which contributed&nbsp;to approximately half of the volume decline.&nbsp;
Gross margin for the quarter contracted 440 basis points Y/Y to 13.6%. Adjusted EBITDA from continuing operations totaled $46 million, and the margin was 5.6%.
The company reported an operating loss of $(5.2) million compared to an operating income of $40.9 million last year. The operating expenses climbed 4% Y/Y to $117.2 million.
Adjusted EPS of $(0.03)&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">missed the analyst consensus of $(0.01).</a>
TreeHouse repurchased approximately 1.2 million shares of common stock for a total of $43.9 million in the first quarter. The company held $191.8 million in cash and equivalents as of March-end.
&#8220;While the downtime at our broth facility impacted first quarter profitability, restart of that facility coupled with our meaningful supply chain savings initiatives position us well to expand margin through the rest of the year and deliver our full year profitability guidance,&#8221; said Chairman, CEO&nbsp;and&nbsp;President Steve Oakland.
Outlook: TreeHouse reaffirmed&nbsp;its FY24 sales outlook of $3.43 billion &#8211; $3.50 billion against an&nbsp;estimate of&nbsp;$3.447 billion. The company expects FY24 adjusted EBITDA of $360 million &#8211; $390 million and capital expenditure of $145 million.
TreeHouse anticipates second-quarter net sales of $770 million &#8211; $800 million, <a href="https://www.benzinga.com/calendars/guidance">down approximately 2% at the midpoint and versus the consensus of $796.24 million.</a>
Price Action: THS shares are trading lower by 8.27% at $34.18 at&nbsp;the last check Monday.

General

Why Food Processing Firm TreeHouse Foods Shares Are Diving Today

WIIM

Treehouse Foods shares are trading lower after the company reported mixed Q1 financial results including a net sales decline.

U.S. stocks are likely to extend their gains as major index futures are modestly higher on Monday. Strong earnings reports continue to support the market, with S&amp;P 500 earnings expected to grow by 5% year-over-year — the highest rate since Q2 2022. The&nbsp;<a href="https://www.benzinga.com/markets/equities/24/05/38563545/powell-keeps-hawks-at-bay-says-interest-rate-hike-unlikely-stocks-gold-rally-while-treasury-yiel" target="_blank" rel="noreferrer noopener">possibility of rate cuts</a>&nbsp;has re-emerged, making this week&#8217;s flurry of Fed speeches potentially market-moving events. Analysts are confident the upward momentum will continue after a slow April, with the typical strength seen in election years (over the next three months) likely aiding the rally.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.28%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.31%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.29%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.76%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Monday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.31% to $512.87,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) jumped 0.27% to $436.65, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Last Week
A dovish Federal Reserve message, benign economic data, and positive earnings reports fueled the market rally for a second consecutive week. All three major indices closed the week ending May 3 firmly in positive territory. While Fed Chair&nbsp;Jerome Powell&nbsp;didn&#8217;t provide a specific timeline for rate cuts, he reassured investors by clarifying that hikes are not on the immediate horizon. Big tech companies like&nbsp;Apple, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and&nbsp;Amazon, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) met analyst expectations with their earnings reports.
The Institute for Supply Management&#8217;s service sector reading fell sharply and dipped into contraction territory. However, the monthly non-farm payrolls report offered mixed signals: lower-than-expected job growth in April, a slight increase in the unemployment rate, and slower-than-expected wage growth.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Weekly Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+1.43%</td>
<td>16,156.33</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.55%</td>
<td>5,127.79</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+1.14%</td>
<td>38,675.68</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.68%</td>
<td>2,035.72</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts: 
An analyst highlighted data that increases the confidence in the current market rally. Carson Group&#8217;s Ryan Detrick said the current bull market was still quite young. As opposed to the average duration of 60 months for the past 12 bull markets, the current one is less than 19 months old, he said. On a more positive note, if the bull market starts in October, its average is even a litter bit longer, he added.
<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">This bull market is still quite young, at less than 19 mos old. Looking at the past 12 bull markets showed the avg is just over 60 mos. But 5 of the past 12 started in October (like this one). When they start in October? They last even a little bit longer. <a href="https://t.co/sjck6Ghr61">pic.twitter.com/sjck6Ghr61</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1787307821790368252?ref_src=twsrc%5Etfw">May 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Upcoming Economic Data: 
A slew of Fed speeches are scheduled for the unfolding week, while the jobless claims data, the University of Michigan&#8217;s preliminary consumer sentiment index for May, the Fed&#8217;s outstanding consumer credit report for March, and the monthly federal budget for April may also attract some attention.
On Monday, the Treasury will auction three- and six-month notes at 11:30 a.m. EDT.
Richmond Fed President Thomas Barkin&nbsp;is scheduled to speak at 12:50 p.m. EDT. New York Fed President John Williams will speak at 1 p.m. EDT.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) shares rose about 4% <a href="https://benzinga.grsm.io/lxquj26b2sag">in premarket trading </a>after the New York Times reported that the media company will end its exclusive negotiations with Skydance Media without reaching a deal.</li>
<li>BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>), Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>), TreeHouse Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>), and Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting ahead of the market open.</a></li>
<li>Those reporting after the close include ADTRAN Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTN#NASDAQ">ADTN</a>), Coty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COTY#NYSE">COTY</a>), Fidelity National Information Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>), FMC Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMC#NYSE">FMC</a>), J&amp;J Snack Foods Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JJSF#NASDAQ">JJSF</a>), Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>), Lumentum Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NASDAQ">LITE</a>), Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>), The Williams Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMB#NYSE">WMB</a>), Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>)</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures sharply early Monday, trading a little under $79 a barrel. The commodity fell nearly 7% in the week ended May 3. Gold futures also gained ground.
Bond yields weakened further at the start of the new week, with the 10-year note yielding 4.473%.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) saw an upward bounce and has tacked on about 2% over the past 24 hours. At last check, the apex crypto was approaching the $65,000 level.
Asian stocks rose across the board, as they latched onto the optimism regarding rising prospects of a U.S. Fed rate cut. The Chinese market witnessed standout gains after the policymakers said at last week&#8217;s Politburo meeting that they would step up support for the economy with prudent monetary and proactive fiscal policies.
The New Zealand market, however, bucked the trend and fell sharply on Monday. The Japanese and South Korean markets remained closed for public holidays.
Sentiment across the Atlantic was positive, with the major European averages firmer in early trading.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/05/38636014/will-earnings-cheer-continue-this-week-all-eyes-on-disney-palantir-robinhood-while-reddit-gears-up-">Will Earnings Cheer Continue This Week? All Eyes On Disney, Palantir, Robinhood While Reddit Gears Up For Debut Quarterly Report</a>
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Pre-Market Outlook

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Wall Street Looks To Extend Rally Amid Caution Over Fed Speeches, More Earnings: Why This Analyst Thinks Bull Market Is Still 'Quite Young'

Notable earnings before Monday's open

Barclays analyst Andrew Lazar assigned a Hold rating to TreeHouse Foods (THS – Research Report) today and set a price target of $36.00. The company...

TreeHouse Foods (THS) Receives a Hold from Barclays

TreeHouse Foods Non-GAAP EPS of $0.29 beats by $0.16, revenue of $788.5M beats by $3.1M

TreeHouse Foods Q2 results beat estimates, sets outlook within expectations

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

TreeHouse Foods, Inc. (THS) Q2 2024 Earnings Call Transcript

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Treehouse Foods (NYSE:<a href="https://investorplace.com/stock-quotes/ths-stock-quote/">THS</a>) just reported results for the second quarter of 2024.<ul><li>Treehouse Foods reported earnings per share of 29 cents. This was above the analyst estimate for EPS of 13 cents.</li><li>The company reported revenue of $788.50 million.</li><li>This was 0.64% better than the analyst estimate for revenue of $783.50 million.</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>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/08/ths-stock-earnings-treehouse-foods-for-q2-of-2024/">THS Stock Earnings: Treehouse Foods Beats EPS, Beats Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

THS Stock Earnings: Treehouse Foods Beats EPS, Beats Revenue for Q2 2024

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