United Natural Foods (NYSE:UNFI) Stock, Quote.Headers.trade-ideas

United Natural Foods

United Natural Foods Inc is a wholesale distributor of natural, organic and specialty foods and nonfood products across North America. The company's products consist of national, regional and private label brands grouped into grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements and sports nutrition, bulk and foodservice products, and personal care items. United Natural Foods serves various retail formats including conventional supermarket chains, natural product superstores, independent retail operators and foodservice channels such as e-commerce platforms. The company's operations are comprised of principal divisions: the wholesale division; the retail division; and other.

United Natural Foods, Inc.

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UNFI

Campbell Soup (NASDAQ: CPB) came out with quarterly earnings of $0.63 per share, beating the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.50 per share a year ago. These figures are adjusted for non-recurring items.

Campbell Soup Beats Q4 Earnings Estimates

Guidance

Retail Sales

PFGC

SPTN

Performance Food Group Co. (NYSE: PFGC) is one of the largest food service distributors in the United States. The company sources, markets, and delivers food and food-related products through a network of over 150 distribution facilities to over 125,000 businesses in the food service industry.

Performance Food Group Sees Disinflation Tailwinds in 2025

FRPT

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

United Natural Foods Inc

Universe Finance - United States Dollar

Campbell Soup (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cpb#NASDAQ">CPB</a>) came out with quarterly earnings of $0.63 per share, beating the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.50 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 1.61%. A quarter ago, it was expected that this maker of canned soup, Pepperidge Farm cookies and V8 juice would post earnings of $0.70 per share when it actually produced earnings of $0.75, delivering a surprise of 7.14%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Campbell, which belongs to the Zacks Food - Miscellaneous industry, posted revenues of $2.29 billion for the quarter ended July 2024, missing the Zacks Consensus Estimate by 0.44%. This compares to year-ago revenues of $2.07 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Campbell shares have added about 16.1% since the beginning of the year versus the S&amp;P 500&#39;s gain of 17.2%.
<h2>What&#39;s Next for Campbell?</h2>
While Campbell has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Campbell: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.93 on $2.8 billion in revenues for the coming quarter and $3.23 on $10.51 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Food - Miscellaneous is currently in the top 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, United Natural Foods (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/unfi#NASDAQ">UNFI</a>), has yet to report results for the quarter ended July 2024.
This organic and specialty foods distributor is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of +68%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
United Natural Foods&#39; revenues are expected to be $7.87 billion, up 6.2% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2328735/campbell-soup-cpb-beats-q4-earnings-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2328735">To read this article on Zacks.com click here.</a>

Performance Food Group Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfgc#NYSE">PFGC</a>) is one of the largest food service distributors in the United States. The company sources, markets, and delivers food and food-related products through a network of over 150 distribution facilities to over 125,000 businesses in the food service industry. The company is acquiring food service distributor Cheney Brothers for $2.1 billion, which will expand its footprint with restaurant and hospitality customers in the Southeastern region of the United States. The drop in inflation back under 3% and the impending interest rate cuts are positive tailwinds that the market anticipates for the company.
<h2>Disinflation Should Not Be Mistaken for Deflation </h2>
Performance Food Group is a benefactor of disinflation, which is not to be confused with deflation. Disinflation occurs when the rate of inflation slows down, which means prices are still rising but at a slower pace. For example, when inflation drops from 9% to 2.9%, as indicated by the recent July consumer price index (CPI) report. Disinflation eases procurement costs and improves gross margins. It also improves demand and business spending power. Interest rate cuts are meant to be disinflationary.
Deflation occurs when general prices actually fall. This can result in a negative inflation rate, which can be harmful to the economy. Deflation occurs during severe economic downturns.
Performance Food Group operates in the retail/wholesale sector, competing with food distributors such as Sysco Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/syy#NYSE">SYY</a>), United Natural Foods Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unfi#NYSE">UNFI</a>), and SpartanNash Co. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sptn#NASDAQ">SPTN</a>).
<h2>Performance Food&#39;s Exclusive Portfolio of Brands </h2>
The company has exclusive brands under its Performance Foodservice segment, with categories like Center of Plate (COP) and Seafood. These brands offer&nbsp;beef, poultry, and seafood to high-end luxury steakhouses, fast-food burger joints, and on-the-go food trucks. Its exclusive seafood brands include top-tier Bay Winds, Empire&#39;s Treasure, The Fresh Catch,&nbsp;and World Dock.
Its Bakery &amp; Desserts category carries exclusive products from Heritage Ovens, Sweet Encore, Piancone and Roma gelato, tiramisu, cannoli, and coffee and expresso from Italy. Performance sells thousands of products covering condiments to freshly caught fish from over 100 exclusive brands, including custom-cut meats. Its customers range from restaurants to convenience stores, hotels, schools, universities, retail, senior living, and healthcare facilities.
<img alt="Performance Food Group Company PFGC stock chart" class="aligncenter" src="https://www.marketbeat.com/logos/articles/med_20240818190053_chartb-pfgc.jpg" style="height:748px; width:915px" />
<h2>PFGC Stock Is Back in an Ascending Parallel Price Channel</h2>
The daily candlestick chart for PFGC shows an ascending price channel pattern. The ascending upper trendline connects the higher highs, and the lower trendline connects the higher lows. While PFGC fell out of the channel before its earnings report, the price gap from $67.34 to $70.73 placed shares firmly back into the channel. The daily relative strength index (RSI) rose to the 70-band. Pullback support levels are at $70.73, $67.34 gap fill, $65.19, and $63.35.
<h2>The Turnaround Is Accelerating </h2>
Performance Food Group reported fiscal Q4 2024 EPS of $1.45, beating consensus estimates of $1.37 by 8 cents. Adjusted EBITDA rose 18.4% to $456.2 million. Revenues rose 2.3% YoY to $15.2 billion versus $15.25 billion. Total case volume grew 1.1% YoY. Organic independent food service case volume rose by 3.7%. Net income rose 10.9% YoY to $166.5 million. Overall, product cost inflation for its food service business rose 2.9% in the quarter. Its Foodservice segment sales rose 4.6% to $7.7 billion. The Vistar segment had a 1.8% drop in net sales to $1.2 billion. The Convenience segment&#39;s net sales dropped by&nbsp; 0.5% YoY to $6.3 billion.
<h2>Performance Food Group Issues Mixed Guidance </h2>
For fiscal Q1 2025, Performance Food Group issued downside revenue guidance of $15.2 billion to $15.5 billion versus the $15.54 billion consensus. Adjusted EBITDA is expected to be around $400 million to $425 million. Business results for Jose Santiago are expected to be added to the quarter.
For the fiscal full year 2025, the company expects revenues of $60 billion to $61 billion versus $60.83 billion consensus estimates. Adjusted EBITDA for the fiscal full year 2025 is expected to be between $1.6 billion and $1.7 billion.
Performance Food Group CEO George Holm commented on the 2 recent acquisitions, &quot;While small relative to PFG&#39;s total business, we believe Jos&eacute; Santiago will be accretive to earnings, cash flow, and margins immediately. Taken together, we believe these two deals position PFG very well for the future growth of the Southeastern United States and the Caribbean territories.&quot;
The article &quot;<a href="https://www.nasdaq.com/articles/performance-food-group-sees-disinflation-tailwinds-2025">Performance Food Group Sees Disinflation Tailwinds in 2025</a>&quot; first appeared on MarketBeat.

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>

<a href="https://www.supermarketnews.com/news/unfi-looking-sell" title="https://www.supermarketnews.com/news/unfi-looking-sell">https://www.supermarketnews.com/news/unfi-looking-sell</a>

Rumors

United Natural Foods Shares Moving Higher; Traders Circulate Takeover Chatter From Article Titled "Troubles With SuperValu Purchase Have Left The Distributor In Hot Water" - Supermarket News

UBS analyst Mark Carden maintains United Natural Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNFI#NYSE">UNFI</a>) with a Neutral and raises the price target from $14 to $16.

Price Target

UBS Maintains Neutral on United Natural Foods, Raises Price Target to $16

Shares of G-III Apparel Group, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIII#NASDAQ">GIII</a>) fell sharply during Thursday's session after the company reported worse-than-expected <a href="https://www.benzinga.com/quote/GIII/earnings">quarterly sales results</a>.
G-III Apparel Group posted adjusted earnings of 13 cents per share, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. The company's quarterly sales came in at $609.747 million, missing market estimates of $616.286 million.
G-III Apparel Group shares dipped 13.4% to $27.12 on Thursday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Virax Biolabs Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRAX#NASDAQ">VRAX</a>) shares jumped 139.4% to $2.5390.</li>
<li>American Oncology Network, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AONC#NASDAQ">AONC</a>) gained 102% to $4.52. American Oncology Network expanded radiation oncology services with opening of Low Country Radiation in Waycross, Georgia.</li>
<li>Latam Logistic Properties, S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPA#NYSE">LPA</a>) shares gained 99.2% to $63.01 after dipping around 83% on Wednesday.</li>
<li>Freight Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRGT#NASDAQ">FRGT</a>) shares climbed 90.4% to $1.1950 after the company said it added 26 new customers and 149 new carriers in 2024.</li>
<li>Aethlon Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEMD#NASDAQ">AEMD</a>) gained 67.7% to $0.7361 after jumping 7% on Wednesday.</li>
<li>China Liberal Education Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLEU#NASDAQ">CLEU</a>) rose 42% to $2.04.</li>
<li>iSpecimen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPC#NASDAQ">ISPC</a>) rose 38.3% to $0.4442 after declining 4% on Wednesday.</li>
<li>Nauticus Robotics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KITT#NASDAQ">KITT</a>) shares rose 31.5% to $0.1815 after gaining around 20% on Wednesday. Nauticus Robotics, last month, announced a deal with H.C. Wainwright &amp; Co to sell shares under an at-the-market offering.</li>
<li>Pixie Dust Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PXDT#NASDAQ">PXDT</a>) gained 29% to $2.13.</li>
<li>Tungray Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRSG#NASDAQ">TRSG</a>) rose 28.8% to $4.25.</li>
<li>iSpecimen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPC#NASDAQ">ISPC</a>) gained 27.6% to $0.4097.</li>
<li>Replimune Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REPL#NASDAQ">REPL</a>) gained 27.3% to $7.08 as the company announced positive topline primary analysis data by Independent Central Review from IGNYTE clinical trial of RP1 plus nivolumab in anti-PD1 failed melanoma.</li>
<li>Vanda Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) gained 26.7% to $6.40 after Cycle Pharmaceuticals confirmed that it made a proposal to buy the company.</li>
<li>Co-Diagnostics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CODX#NASDAQ">CODX</a>) gained 22.3% to $1.26.</li>
<li>Zoomcar Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZCAR#NASDAQ">ZCAR</a>) shares rose 21.4% to $0.1829 after falling over 4% on Wednesday.</li>
<li>SecureWorks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCWX#NASDAQ">SCWX</a>) climbed 20.3% to $7.04 following upbeat quarterly results.</li>
<li>OneMedNet Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONMD#NASDAQ">ONMD</a>) rose 20% to $1.9118 after the company announced that it joined the AWS Partner Network and secured a new iRWD client.</li>
<li>Brenmiller Energy Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNRG#NASDAQ">BNRG</a>) climbed 18.8% to $1.30 after the company announced that it signed an exclusive distribution agreement with Rock Energy Storage to sell and distribute its bGen TES systems. </li>
<li>Smartsheet Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMAR#NYSE">SMAR</a>) gained 18.8% to $44.90 after the company reported better-than-expected first-quarter financial results and announced an inaugural $150 million share repurchase program.</li>
<li>Chanson International Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHSN#NASDAQ">CHSN</a>) rose 18.5% to $2.5940.</li>
<li>Virios Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRI#NASDAQ">VIRI</a>) climbed 18.1% to $0.2550.</li>
<li>Xponential Fitness, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPOF#NYSE">XPOF</a>) gained 18.1% to $11.65.</li>
<li>Motorsport Games Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSGM#NASDAQ">MSGM</a>) gained 17.1% to $2.7394. Motorsport Games said it regained compliance with continued listing requirements of Nasdaq Stock Market.</li>
<li>Pharming Group N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHAR#NASDAQ">PHAR</a>) rose 13.8% to $8.74.</li>
<li>Halozyme Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HALO#NASDAQ">HALO</a>) gained 10.8% to $50.60 after the company raised its FY24 guidance.</li>
<li>The Toro Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTC#NYSE">TTC</a>) rose 8% to $85.97 after the company reported better-than-expected second-quarter EPS and sales.</li>
<li>United Natural Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNFI#NYSE">UNFI</a>) gained 7.1% to $14.35. Roth MKM analyst Bill Kirk maintained United Natural Foods with a Neutral and raised the price target from $13 to $14.</li>
<li>Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) shares climbed 3.5% to $319.05 as the company reported upbeat financial results for its first quarter and authorized a $1 billion increase in its stock repurchase program.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Actelis Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASNS#NASDAQ">ASNS</a>) shares fell 42.2% to $2.15 after the company announced an agreement for the immediate exercise of certain outstanding warrants for gross proceeds of $3 million.</li>
<li>SeaStar Medical Holding Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICU#NYSE">ICU</a>) declined 33.6% to $0.2350. SeaStar Medical announced a 25-for-1 reverse stock split.</li>
<li>Ventyx Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VTYX#NASDAQ">VTYX</a>) fell 27% to $3.83 after the company announced preclinical data for its CNS-penetrant NLRP3 inhibitor VTX3232 in murine diet-induced obesity models.</li>
<li>Plutonian Acquisition Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTN#NASDAQ">PLTN</a>) dipped 23.7% to $4.40.</li>
<li>Ryde Group Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RYDE#NYSE">RYDE</a>) fell 22.4% to $6.33.</li>
<li>Moving iMage Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MITQ#NYSE">MITQ</a>) fell 22.3% to $0.7757. Moving iMage Technologies was recently awarded a multi-million dollar contract.</li>
<li>Fresh2 Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRES#NASDAQ">FRES</a>) shares declined 21.1% to $0.4776 after surging over 35% on Wednesday.</li>
<li>Big Lots, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIG#NYSE">BIG</a>) dipped 20.8% to $2.79 after the company reported worse-than-expected quarterly financial results.</li>
<li>Laird Superfood, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LSF#NYSE">LSF</a>) fell 20.2% to $3.92.</li>
<li>Couchbase, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BASE#NASDAQ">BASE</a>) dipped 20.1% to $17.20 as the company reported first-quarter financial results and issued guidance.</li>
<li>Jowell Global Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JWEL#NASDAQ">JWEL</a>) fell 18.8% to $1.8180 after jumping over 98% on Wednesday.</li>
<li>ENDRA Life Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDRA#NASDAQ">NDRA</a>) shares fell 18.1% to $0.1138 after gaining 63% on Wednesday. ENDRA Life Sciences recently announced the pricing of an $8 million public offering.</li>
<li>Asset Entities Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASST#NASDAQ">ASST</a>) fell 18% to $0.4489 after gaining around 25% on Wednesday.</li>
<li>InMed Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INM#NASDAQ">INM</a>) shares fell 17.6% to $0.25 after gaining 5% on Wednesday.</li>
<li>Sprinklr, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXM#NYSE">CXM</a>) shares fell 17.3% to $8.96 after the company reported its first-quarter financial results and appointed a new co-CEO Wednesday.</li>
<li>Montana Technologies Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIRJ#NASDAQ">AIRJ</a>) fell 16% to $9.95.</li>
<li>4D Molecular Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FDMT#NASDAQ">FDMT</a>) dipped 15.2% to $23.14. The company announced interim clinical data from the 4D-710 Phase 1/2 AEROW clinical trial for the treatment of cystic fibrosis lung disease.</li>
<li>ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) fell 14.7% to $20.30.</li>
<li>LivaNova PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIVN#NASDAQ">LIVN</a>) fell 11.8% to $52.92 after the company&#8217;s RECOVER clinical study did not meet its primary endpoint for the unipolar cohort, though statistical significance was achieved in select secondary endpoints.</li>
<li>Five Below, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) shares declined 10.7% to $118.57 after the company posted downbeat first-quarter results and lowered FY guidance.</li>
<li>Dorian LPG Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPG#NYSE">LPG</a>) shares fell 9.2% to $45.66 after the company announced a public offering of common shares.</li>
<li>NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) fell 7.7% to $4.8650 following worse-than-expected first-quarter earnings.</li>
<li>Vertiv Holdings Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) declined 6.5% to $90.75</li>
<li>Sleep Number Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNBR#NASDAQ">SNBR</a>) fell 6.4% to $14.88.</li>
<li>Ollie&#8217;s Bargain Outlet Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>) declined 3.8% to $86.42. Ollie&#8217;s Bargain posted better-than-expected first-quarter earnings on Wednesday.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/06/39205294/jim-cramer-recommends-buying-pnc-financial-services-calls-mastec-a-great-infrastructure-">Jim Cramer Recommends Buying PNC Financial Services, Calls MasTec A &#8216;Great Infrastructure Play&#8217;</a>

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Why G-III Apparel Shares Are Trading Lower By 13%? Here Are Other Stocks Moving In Thursday's Mid-Day Session

United Natural Foods, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unfi#NYSE">UNFI</a>) posted soft third-quarter fiscal 2024 results, as both the top and bottom lines declined year over year, and sales fell short of the Zacks Consensus Estimate. 
However, the company has been on track with operational and efficiency initiatives to drive cost reductions and supply chain efficiencies. Additionally, United Natural is nearing a new multi-year strategic plan set to commence in fiscal 2025. The updated strategy is expected to generate nearly $100 million in free cash flow in fiscal 2025, with expectations for stable and reliable profit and cash flow growth, improved returns on capital and a reduction in net leverage over multiple years.
<h3>Quarter in Detail</h3>
United Natural&#39;s adjusted earnings came in at 10 cents per share, which matched the Zacks Consensus Estimate. However, this Zacks Rank #4 (Sell) company&#39;s bottom line slumped 81.5% from 54 cents reported in the year-ago period.
<div class="chart_embed">
<h3>United Natural Foods, Inc. Price, Consensus and EPS Surprise 
<a href="https://www.zacks.com/stock/chart/UNFI/price-consensus-eps-surprise-chart?icid=chart-UNFI-price-consensus-eps-surprise-chart"><img alt="United Natural Foods, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/54/1717672405.png" style="height:265px; width:576px" title="" /> </a></h3>
United Natural Foods, Inc. price-consensus-eps-surprise-chart | United Natural Foods, Inc. Quote
</div>
Net sales inched down 0.1% to $7,498 million, which missed the Zacks Consensus Estimate of $7,564 million. The downside can be attributed to lower unit volumes, partly compensated by inflation and new business with existing customers. 
Chains, Independent retailers and Retail witnessed a sales decline of 1.2%, 3.1% and 4.5%, respectively. Supernatural and Other channels rose 5.3% and 0.6%, respectively. 
United Natural&#39;s gross profit rose 2% to $1,020 million. Excluding the non-cash LIFO charge in both periods, the gross margin contracted 10 basis points to 13.7% in the third quarter due to reduced levels of procurement gains stemming from decelerating inflation, as well as a reduced retail gross margin. 
Operating expenses were $992 million compared with $967 million reported in the year-ago quarter. As a percentage of sales, operating expenses were 13.2% compared with 12.9% in the year-ago period. The increase resulted from elevated incentive compensation. 
Adjusted EBITDA came in at $130 million, down from the $159 million reported in the year-ago quarter.
<h3>Other Updates</h3>
The company had total liquidity of nearly $1.26 billion as of Apr 27, 2024, including cash of nearly $39 million and nearly $1.23 billion under the company&#39;s asset-backed lending facility. Total outstanding debt (net of cash) was $2.13 billion, down $30 million on a sequential basis. 
During the third quarter, United Natural&#39;s free cash flow amounted to $49 million, with net cash provided by operating activities being $125 million and capital expenditures amounting to $76 million.
<h3>Fiscal 2024 Guidance</h3>
For fiscal 2024, the company continues to anticipate net sales in the range of $30.5-$31.0 billion. 
Adjusted EBITDA is now expected in the $490-$520 million range compared with the $475-$525 million range forecasted earlier. UNFI now expects to deliver a net loss of $109-$85 million in fiscal 2024 compared with a net loss of $101-$65 million expected earlier. 
United Natural now envisions the fiscal 2024 bottom line between a loss of 20 cents and earnings of 20 cents. Management had earlier guided the bottom line between a loss of 56 cents per share and earnings of 6 cents. 
The company projects capital and cloud implementation expenditures of nearly $370 million for fiscal 2024. 
Shares of UNFI have risen 10.5% in the past three months against the industry&#39;s decline of 3.2%.
<h3>Better-Ranked Food Bets</h3>
Vital Farms Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vitl#NASDAQ">VITL</a>) 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 suggests growth of 22.5% and 59.3%, respectively, from the year-ago reported numbers. 
Conagra Brands (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cag#NYSE">CAG</a>), a consumer packaged goods food company, currently carries a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for CAG&#39;s current fiscal-year earnings indicates a decline of 5.1% from the year-ago reported figure. 
Conagra Brands has a trailing four-quarter earnings surprise of 6.8%, on average. 
Utz Brands Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/utz#NYSE">UTZ</a>) manufactures a diverse portfolio of salty snacks and currently carries a Zacks Rank #2. UTZ has a trailing four-quarter earnings surprise of 2%, on average. 
The Zacks Consensus Estimate for Utz Brands&#39; current financial-year earnings suggests growth of 24.6% from the year-ago reported numbers.
<a href="https://www.zacks.com/stock/news/2284600/united-natural-unfi-q3-earnings-meet-estimates-sales-decline?cid=CS-BENZ-FT-analyst_blog|earnings_article-2284600">To read this article on Zacks.com click here.</a>

VITL

United Natural Q3 Earnings Meet Estimates, Sales Decline

WIIM

United Natural Foods shares are trading higher after ROTH MKM maintained a Neutral rating on the stock and raised its price target from $13 to $14.

U.S. stocks were slightly higher, with the Dow Jones index gaining around 0.1% on Thursday.
Shares of The J. M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) rose sharply during Thursday&#8217;s session following <a href="https://www.benzinga.com/news/earnings/24/06/39205375/j-m-smuckers-bottom-line-shines-in-q4-as-cost-management-pays-off-details">upbeat quarterly earnings</a>.
The company reported a fourth-quarter FY24 sales decline of 1.3% year-on-year to $2.21 billion, missing the analyst consensus estimate of $2.24 billion. Adjusted EPS of $2.66 beat the analyst consensus estimate of $2.33, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Smucker shares climbed 6.2% to $117.16 on Thursday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul>
<li>Latam Logistic Properties, S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPA#NYSE">LPA</a>) shares surged 99.2% to $63.01 after dipping around 83% on Wednesday.</li>
<li>Replimune Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REPL#NASDAQ">REPL</a>) rose 27.3% to $7.08 as the company announced positive topline primary analysis data by Independent Central Review from IGNYTE clinical trial of RP1 plus nivolumab in anti-PD1 failed melanoma.</li>
<li>SecureWorks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCWX#NASDAQ">SCWX</a>) gained 20.3% to $7.04 following upbeat quarterly results.</li>
<li>Smartsheet Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMAR#NYSE">SMAR</a>) rose 18.8% to $44.90 after the company reported better-than-expected first-quarter financial results and announced an inaugural $150 million share repurchase program.</li>
<li>Xponential Fitness, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPOF#NYSE">XPOF</a>) climbed 18.1% to $11.65.</li>
<li>Pharming Group N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHAR#NASDAQ">PHAR</a>) surged 13.8% to $8.74.</li>
<li>Halozyme Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HALO#NASDAQ">HALO</a>) jumped 10.8% to $50.60 after the company raised its FY24 guidance.</li>
<li>The Toro Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTC#NYSE">TTC</a>) gained 8% to $85.97 after the company reported better-than-expected second-quarter EPS and sales.</li>
<li>United Natural Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNFI#NYSE">UNFI</a>) climbed 7.1% to $14.35. Roth MKM analyst Bill Kirk maintained United Natural Foods with a Neutral and raised the price target from $13 to $14.</li>
<li>Maplebear Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>) rose 6.7% to $33.02 after the company approved a $500 million share repurchase program.</li>
<li>Semtech Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) rose 6.7% to $41.28 after the company reported better-than-expected first-quarter financial results.</li>
<li>iRhythm Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRTC#NASDAQ">IRTC</a>) gained 5.8% to $95.83.</li>
<li>Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) shares climbed 5% to $22.65 after the company announced it will acquire cryptocurrency exchange Bitstamp.</li>
<li>Lyft, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) rose 4.8% to $16.28 after the company provided 2027 financial targets ahead of its Investor Day.</li>
<li>Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>) gained 4.7% to $111.78.</li>
<li>Ciena Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIEN#NYSE">CIEN</a>) rose 4.3% to $50.32 following upbeat quarterly results.</li>
<li>Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) shares gained 3.5% to $319.05 as the company reported upbeat financial results for its first quarter and authorized a $1 billion increase in its stock repurchase program.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/06/39205294/jim-cramer-recommends-buying-pnc-financial-services-calls-mastec-a-great-infrastructure-">Jim Cramer Recommends Buying PNC Financial Services, Calls MasTec A &#8216;Great Infrastructure Play</a>&#8216;

CART

CIEN

HOOD

ILMN

IRTC

LYFT

SMTC

J.M. Smucker Posts Upbeat Earnings, Joins Toro Company, United Natural Foods, Semtech And Other Big Stocks Moving Higher On Thursday

Roth MKM analyst Bill Kirk maintains United Natural Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNFI#NYSE">UNFI</a>) with a Neutral and raises the price target from $13 to $14.

Roth MKM Maintains Neutral on United Natural Foods, Raises Price Target to $14

Shares of Lands&#8217; End, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LE#NASDAQ">LE</a>) fell sharply during Wednesday's session following<a href="https://www.benzinga.com/quote/LE/earnings"> first-quarter results</a>.
Lands&#8217; End reported quarterly adjusted loss of 20 cents per share which beat the analyst consensus estimate of 26 cents per share. The company reported quarterly sales of $285.47 million which beat the analyst consensus estimate of $269.82 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Lands&#8217; End shares dipped 9.3% to $12.60 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Actelis Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASNS#NASDAQ">ASNS</a>) shares jumped 512% to $2.88 after the company announced orders for cyber-hardened networking technology to be deployed at three US military bases.</li>
<li>Nuvve Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVVE#NASDAQ">NVVE</a>) shares jumped 150% to $1.42.</li>
<li>ENDRA Life Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDRA#NASDAQ">NDRA</a>) shares gained 82.2% to $0.1549. ENDRA Life Sciences shares dipped over 60% on Tuesday after the company announced the pricing of an $8 million public offering.</li>
<li>mF International Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MFI#NASDAQ">MFI</a>) gained 66.9% to $2.17 after jumping 38% on Tuesday.</li>
<li>Moving iMage Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MITQ#NASDAQ">MITQ</a>) gained 53.2% to $1.0750 after the company was awarded a multi-million dollar contract.</li>
<li>Siyata Mobile Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYTA#NASDAQ">SYTA</a>) gained 52.5% to $2.1200 after the company announced a new partnership with JD Telecom.</li>
<li>WalkMe Ltd.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKME#NASDAQ">WKME</a>) gained 42.1% to $13.70 after the company announced it entered into a definitive agreement to be acquired by SAP.</li>
<li>Stitch Fix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFIX#NASDAQ">SFIX</a>) rose 34.9% to $3.6010 following better-than-expected third-quarter financial results.</li>
<li>XTI Aerospace, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XTIA#NASDAQ">XTIA</a>) jumped 30% to $1.1877 after the company announced Mesa Air Group is the purchaser under a previously disclosed conditional purchase order with XTI Aircraft Company.</li>
<li>Unusual Machines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMAC#NYSE">UMAC</a>) rose 27.2% to $1.9002.</li>
<li>Hywin Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HYW#NYSE">HYW</a>) gained 24.9% to $0.7379.</li>
<li>China Liberal Education Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLEU#NASDAQ">CLEU</a>) rose 21.1% to $1.2710.</li>
<li>Multi Ways Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MWG#NYSE">MWG</a>) gained 19.4% to $0.5741.</li>
<li>Mynd.ai, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYND#NYSE">MYND</a>) rose 16.6% to $2.95.</li>
<li>Vir Biotechnology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIR#NASDAQ">VIR</a>) gained 16.4% to $12.31 after the company announced new preliminary data from its Phase 2 SOLSTICE hepatitis delta clinical trial evaluating tobevibart.</li>
<li>3D Systems Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DDD#NYSE">DDD</a>) gained 16% to $4.030 after the company received a multi-year purchase agreement with an estimated value of around a quarter-billion dollars.</li>
<li>Laird Superfood, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LSF#NYSE">LSF</a>) gained 15.6% to $4.3350.</li>
<li>Verint Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNT#NASDAQ">VRNT</a>) rose 15.3% to $32.54 after the company reported better-than-expected first-quarter financial results and issued strong FY25 guidance.</li>
<li>Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) shares rose 15.1% to $20.26 as the company reported better-than-expected second-quarter financial results.</li>
<li>Guidewire Software, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>) gained 15% to $124.20 after the company reported better-than-expected third-quarter financial results and issued FY24 revenue guidance above estimates.</li>
<li>United Natural Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNFI#NYSE">UNFI</a>) jumped 12.7% to $13.69 following upbeat quarterly earnings.</li>
<li>CureVac N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVAC#NASDAQ">CVAC</a>) gained 10.4% to $4.46.</li>
<li>Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) rose 10.2% to $19.57.</li>
<li>Bright Green Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGXX#NASDAQ">BGXX</a>) shares rose 8.2% to $0.3204 after gaining around 5% on Tuesday.</li>
<li>Ollie&#8217;s Bargain Outlet Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>) gained 7.8% to $88.43 following better-than-expected first-quarter earnings.</li>
<li>MakeMyTrip Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMYT#NASDAQ">MMYT</a>) gained 6.8% to $78.68.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Concord Medical Services Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCM#NYSE">CCM</a>) fell 37.7% to $1.3099 after jumping 166% on Tuesday.</li>
<li>Barnes &amp; Noble Education, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNED#NYSE">BNED</a>) shares declined 35% to $0.2699.</li>
<li>MicroAlgo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLGO#NASDAQ">MLGO</a>) shares dipped 33.2% to $8.02. MicoAlgo shares jumped around 670% on Tuesday after the company announced that it will jointly establish a micro-consciousness quantum research center with WiMi.</li>
<li>Silo Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SILO#NASDAQ">SILO</a>) declined 30.6% to $1.55 after the company announced a $2 million registered direct offering.</li>
<li>SOBR Safe, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOBR#NASDAQ">SOBR</a>) shares fell 29.2% to $0.3236 after surging 75% on Tuesday.</li>
<li>Latam Logistic Properties, S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPA#NYSE">LPA</a>) fell 24.7% to $138.91.</li>
<li>JIADE Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JDZG#NASDAQ">JDZG</a>) fell 23% to $ 1.3450</li>
<li>Cue Health Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLTH#NASDAQ">HLTH</a>) fell 21.3% to $0.0486.</li>
<li>Volcon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLCN#NASDAQ">VLCN</a>) shares declined 21% to $0.1318 after the company announced a 1-for-100 reverse stock split.</li>
<li>SPAR Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGRP#NASDAQ">SGRP</a>) fell 19.9% to $2.2668 after the company announced that it entered into a letter of intent to go private with Highwire Capital.</li>
<li>Power REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PW#NYSE">PW</a>) fell 19.8% to $0.9001.</li>
<li>FibroBiologics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBLG#NASDAQ">FBLG</a>) dipped 19.3% to $7.27.</li>
<li>Adamas One Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JEWL#NASDAQ">JEWL</a>) dipped 18.8% to $ 0.3062.</li>
<li>Adlai Nortye Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANL#NASDAQ">ANL</a>) fell 17% to $5.17</li>
<li>Vast Renewables Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSTE#NASDAQ">VSTE</a>) shares fell 16.4% to $3.75 after jumping around 67% on Tuesday.</li>
<li>Mind Medicine (MindMed) Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNMD#NASDAQ">MNMD</a>) shares fell 16.2% to $6.92 after declining 5% on Tuesday.</li>
<li>Ambac Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMBC#NYSE">AMBC</a>) shares declined 15.6% to $14.53. Ambac Financial Group announced plans to acquire a majority stake in Beat Capital Partners.</li>
<li>Golden Heaven Group Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDHG#NASDAQ">GDHG</a>) shares fell 13.7% to $0.1938 after declining around 4% on Tuesday.</li>
<li>Fortuna Silver Mines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSM#NYSE">FSM</a>) dipped 13.6% to $5.10 after the company announced a $150 million offering of convertible senior notes.</li>
<li>ThermoGenesis Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/THMO#NASDAQ">THMO</a>) shares declined 13.4% to $0.5534 after gaining over 10% on Tuesday.</li>
<li>Fresh2 Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRES#NASDAQ">FRES</a>) shares fell 11% to $0.3970 after gaining 13% on Tuesday.</li>
<li>COMPASS Pathways plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMPS#NASDAQ">CMPS</a>) shares fell 10.6% to $6.84.</li>
<li>MultiPlan Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPLN#NYSE">MPLN</a>) declined 7.8% to $0.4342</li>
<li>DouYu International Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOYU#NASDAQ">DOYU</a>) fell 4.7% to $9.64 following first-quarter results.</li>
<li>Dollar Tree, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) shares fell 4.3% to $115.11 after the company reported first-quarter earnings and announced a review of strategic alternatives for its Family Dollar business.</li>
<li>Brown-Forman Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BF#NYSE">BF</a>) fell 4% to $43.90 following mixed quarterly earnings.</li>
<li>Designer Brands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBI#NYSE">DBI</a>) fell 3.9% to $8.40. The company, on Tuesday, reported first-quarter FY24 sales growth of 0.6% year-on-year to $746.596 million, beating the analyst consensus estimate of $741.630 million.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/06/39184853/jim-cramer-energy-transfer-has-done-a-very-good-job-recommends-selling-this-tech-stock">Jim Cramer: Energy Transfer Has &#8216;Done A Very Good Job,&#8217; Recommends Selling This Tech Stock</a>

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Why Lands' End Shares Are Trading Lower? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

United Natural Foods shares are trading higher after the company reported better than expected Q3 adjusted EPS results.

U.S. stocks were mixed, with the Dow Jones index falling more than 100 points on Wednesday.
Shares of Ollie&#8217;s Bargain Outlet Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>) rose sharply during Wednesday's session following better-than-expected <a href="https://www.benzinga.com/news/24/06/39183754/ollies-surges-on-strong-q1-earnings-raises-financial-outlook-amid-consumer-bargain-hunting">first-quarter earnings</a>.
The company reported first-quarter FY24 sales growth of 10.8% year-on-year to $508.82 million, beating the analyst consensus estimate of $505.79 million. Adjusted EPS of 73 cents beat the analyst consensus estimate of 65 cents, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Ollie's raised FY24 adjusted EPS outlook from $3.10 – $3.20 to $3.18 – $3.28, against the consensus of $3.19. The company raised FY24 sales outlook from $2.248 billion – $2.273 billion to $2.257 billion – $2.277 billion,&nbsp; versus the Street view of $2.27 billion.
Ollie&#8217;s Bargain Outlet shares climbed 7.8% to $88.43 on Wednesday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul>
<li>WalkMe Ltd.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKME#NASDAQ">WKME</a>) shares jumped 42.1% to $13.70 after the company announced it entered into a definitive agreement to be acquired by SAP.</li>
<li>Stitch Fix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFIX#NASDAQ">SFIX</a>) gained 34.9% to $3.6010 following better-than-expected third-quarter financial results.</li>
<li>Vir Biotechnology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIR#NASDAQ">VIR</a>) shares climbed 16.4% to $12.31 after the company announced new preliminary data from its Phase 2 SOLSTICE hepatitis delta clinical trial evaluating tobevibart.</li>
<li>3D Systems Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DDD#NYSE">DDD</a>) shares jumped 16% to $4.030 after the company received a multi-year purchase agreement with an estimated value of around a quarter-billion dollars.</li>
<li>Verint Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNT#NASDAQ">VRNT</a>) surged 15.3% to $32.54 after the company reported better-than-expected first-quarter financial results and issued strong FY25 guidance.</li>
<li>Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) shares gained 15.1% to $20.26 as the company reported better-than-expected second-quarter financial results.</li>
<li>Guidewire Software, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>) climbed 15% to $124.20 after the company reported better-than-expected third-quarter financial results and issued FY24 revenue guidance above estimates.</li>
<li>United Natural Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNFI#NYSE">UNFI</a>) shares rose 12.7% to $13.69 following upbeat quarterly earnings.</li>
<li>agilon health, inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGL#NYSE">AGL</a>) gained 10.5% to $6.84. agilon health named Jeff Schwaneke as new Chief Financial Officer.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) rose 10.2% to $29.26. It was reported Tuesday that Massachusetts securities regulators are probing retail investor Keith Gill.</li>
<li>CureVac N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVAC#NASDAQ">CVAC</a>) climbed 10.4% to $4.46.</li>
<li>Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) gained 10.2% to $19.57.</li>
<li>Axcelis Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACLS#NASDAQ">ACLS</a>) shares rose 8.8% to $121.12</li>
<li>Twist Bioscience Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>) gained 7.7% to $50.63. Guggenheim analyst Subbu Nambi initiated coverage on Twist Bioscience with a Buy rating, while announcing a price target of $53.</li>
<li>MakeMyTrip Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMYT#NASDAQ">MMYT</a>) rose 6.8% to $78.68.</li>
<li>ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) gained 6.4% to $1,011.48 following a report suggesting the company will ship its chipmaking machine to Taiwan Semiconductor Manufacturing.</li>
<li>ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) rose 6.1% to $22.58.</li>
<li>Aspen Aerogels, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>) rose 5.7% to $30.68. Piper Sandler analyst Alexander Potter maintained Aspen Aerogels with an Overweight and raised the price target from $30 to $36.</li>
<li>Taiwan Semiconductor Manufacturing Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) gained 5.5% to $160.79.</li>
<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) gained 5.3% to $321.78 as the company reported better-than-expected financial results for the first quarter of fiscal 2025 and raised guidance for fiscal-year 2025 on Tuesday.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/06/39183037/keurig-dr-pepper-to-rally-around-18-here-are-10-top-analyst-forecasts-for-wednesday">Keurig Dr Pepper To Rally Around 18%? Here Are 10 Top Analyst Forecasts For Wednesday</a>

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Ollie's Bargain Outlet Posts Upbeat Earnings, Joins Verint Systems, Guidewire Software And Other Big Stocks Moving Higher On Wednesday

Grocery wholesaler United Natural Foods Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNFI#NYSE">UNFI</a>) shares are ticking higher after the third-quarter FY24 earnings and outlook update.
The company reported a third-quarter FY24 sales decline of 0.1% year-on-year to $7.498 billion, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/b39180030/united-natural-foods-inc-reports-third-quarter-fiscal-2024-results" rel="noreferrer noopener">missing the analyst consensus estimate of $7.515 billion.</a>
Gross margin for the quarter was 13.6% versus 13.3% last year. The gross profit climbed 2% to $1 billion.
Operating income for the quarter was $6 million compared to $33 million last year. Adjusted EBITDA of $130 million decreased 18.2% Y/Y. Adjusted EPS of $0.10 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beat the consensus estimate of $0.03.</a>
&#8220;We delivered another quarter in-line with our fiscal 2024 plan and our third consecutive quarter of improving profitability driven by continued progress on near-term operational and efficiency initiatives,&#8221; said Sandy Douglas, UNFI&#8217;s Chief Executive Officer.
The company held $39 million in cash and equivalents as of April 27. Free cash flow for the quarter totaled $49 million, and the operating cash flow nine months was $54 million.
Total outstanding debt, net of cash, was $2.13 billion at the end of the third quarter.
&#8220;We expect our updated strategy to generate free cash flow approaching&nbsp;$100 million&nbsp;in fiscal 2025 and stable and dependable profit and cash flow growth, with improving returns on capital and declining net leverage on a multi-year basis,&#8221; added Douglas.
Outlook: United Natural Foods continues to see FY24 sales of $30.5 billion-$31 billion, against the consensus of $30.78 billion.
UNFI updated FY24 adjusted EPS guidance from $(0.56)-$0.06 to $(0.20)-$0.20 <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">versus the consensus of $(0.06).</a>
Price Action: UNFI shares are trading higher by 12.4% at $13.64 at the last check Wednesday.

General

What's Going On With Grocery Wholesaler United Natural Foods Stock Wednesday?

U.S. stocks are gearing up for a cautiously optimistic start on Wednesday after<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39166415/stocks-dip-even-with-traders-hopeful-for-september-rate-cut-bonds-extend-rally-oil-plummet"> a late-session recovery led to a positive close </a>in the previous session. Labor market data and service sector activity reading could set the tempo for the day&#8217;s trading direction. A soft private payroll number could prove to be a double-edged sword, depending on what traders choose to focus on. Bond yields remain subdued and but could see some volatility post the data. Positive reactions to earnings, specifically from the tech sector, could provide a lift to the space.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.39%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.20%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.13%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.05%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In premarket trading on Wednesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) slumped 0.20% to $529.44, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) traded up 0.42% at $456.21, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session:
U.S. stocks moved about in a lackluster manner for the bulk of Tuesday&#8217;s session but managed to close the day higher. After the Labor Department&#8217;s JOLTS survey, showing job openings slumping to their lowest level since 2021 jolted the market early on, the indices stayed mostly below the unchanged. Stocks experienced volatility in the late session but came back up to end firmer.
Small-cap stocks ended with notable losses amid the meme stock volatility.
<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>+0.17%</td>
<td>16,857.05</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.15%</td>
<td>5,291.34</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.36%</td>
<td>38,711.29</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.25%</td>
<td>2,033.94</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Fund Strat&#8217;s Tom Lee expects the S&amp;P 500 Index to gain 4% to 5,500 in June, premised on softening inflation, and softening but not weakening labor market. In an interview with CNBC, he<a href="https://x.com/SquawkCNBC/status/1798013799737237905"> said</a> the sell-off in April hasn&#8217;t been really recovered. Also, there is $6 trillion in cash waiting on the sidelines that could be deployed by traders, he added.
Fund manager Louis Navellier said in a note to clients that June is typically a very positive month for small and mid-capitalization stocks that are added to Russell indices.&nbsp; This potentially could help broaden the market rally.
He noted that Russell typically publishes their proposed changes on the first Friday in June and then it refines their proposed index changes for two additional weeks.&nbsp;&#8220;As Russell adds some&nbsp;stocks to their Russell 1000 and 2000 indices, those stocks typically "pop" on institutional buying pressure,&#8221; he added.
Upcoming Economic Data:
<ul>
<li>ADP is scheduled to release its private payrolls report at 8:15 a.m. EDT. Economists, on average, expect private payroll gains of 175,000 in May, down from 192,000 in April.</li>
<li>The final S&amp;P Global U.S. services sector purchasing managers&#8217; index, due at 9:45 a.m. EDT, is expected to show a reading of 54.8 for May, up from 51.3 in April.</li>
<li>The Institute for Supply Management&#8217;s non-manufacturing index for May will be released at 10 a.m. EDT. The PMI may have increased from 49.4 in April to 50.7 in May.</li>
<li>The Energy Information Administration is scheduled to release its customary weekly petroleum status report at 10:30 a.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/best-futures-trading-platforms">9 Best Futures Trading Platforms in 2024</a>
Stocks In Focus:
<ul>
<li> Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) climbed over 14% in premarket trading following the company&#8217;s quarterly results announcement, and CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) rose over 8%.</li>
<li>Stitch Fix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFIX#NASDAQ">SFIX</a>) soared more than 17%, also on earnings.</li>
<li>Campbell Soup Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPB#NYSE">CPB</a>), Dollar Tree, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>), Ollie&#8217;s Bargain Outlet Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>), Hibbett, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIBB#NASDAQ">HIBB</a>) and United Natural Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNFI#NYSE">UNFI</a>) are among the notable companies reporting their quarterly results before the market open.</li>
<li>Those reporting after the close include ChargePoint Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>), Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>), Victoria&#8217;s Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>), Five Below, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>), Semtech Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) and Smartsheet Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMAR#NYSE">SMAR</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil and gold futures rose modestly and the 10-year U.S. Treasury note yield edged up to 4.342%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) climbed over 2% over the past 24 hours and was closing in on the $71K level.
While Asian stocks closed mixed, the major European markets firmed up in early trading. The Indian market rebounded after Tuesday&#8217;s sell-off amid the 2024 general election results, and the Japanese, Hong Kong, and Chinese markets settled lower.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/06/39176944/bye-bye-nyse-nasdaq-wall-street-bigwigs-blackrock-citadel-lead-charge-for-new-apolitical-ceo-fri">Bye-Bye NYSE, Nasdaq? Wall Street Bigwigs BlackRock, Citadel Lead Charge For New &#8216;Apolitical,&#8217; &#8216;CEO-Friendly&#8217; Stock Exchange In Texas</a>
Image Via Shutterstock

Equities

Futures

Previews

Economics

Federal Reserve

Pre-Market Outlook

$BTC

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Wall Street Looks To Extend Gains As Traders Eye More Jobs Data: Why This Analyst Sees 4% S&P 500 Rise In June

United Natural Foods Sees FY24 Net Sales $30.5B-$31B vs $30.78B Est.; Sees Adj. EPS $(0.20)-$0.20 vs $(0.06) Est.

United Natural Foods Lowers FY25 Net Income And EPS Expectations

United Natural Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNFI#NYSE">UNFI</a>) reported quarterly earnings of $0.10 per share which beat the analyst consensus estimate of $0.03 by 233.33 percent. The company reported quarterly sales of $7.498 billion which missed the analyst consensus estimate of $7.515 billion by 0.23 percent. This is a 0.12 percent decrease over sales of $7.507 billion the same period last year.

Earnings Misses

United Natural Foods Q3 2024 Adj EPS $0.10 Beats $0.03 Estimate, Sales $7.498B Miss $7.515B Estimate

Investors in United Natural Foods, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unfi#NYSE">UNFI</a>) need to pay close attention to the stock based on moves in the options market lately. That is because the Dec 20, 2024 $5 Call had some of the highest implied volatility of all equity options today.
<h3>What is Implied Volatility?</h3>
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
<h3>What do the Analysts Think?</h3>
Clearly, options traders are pricing in a big move for United Natural Foods shares, but what is the fundamental picture for the company? Currently, United Natural Foods is a Zacks Rank #3 (Hold) in the Food - Miscellaneous industry that ranks in the Top 32% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while two analysts have revised their estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from 14 cents per share to 10 cents in that period. 
Given the way analysts feel about United Natural Foods right now, this huge implied volatility could mean there&#39;s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
<h3><a href="https://www.zacks.com/stock/news/2282668/implied-volatility-surging-for-united-natural-foods-unfi-stock-options?cid=CS-BENZ-FT-tale_of_the_tape|options-2282668">To read this article on Zacks.com click here.</a></h3>

Options

Implied Volatility Surging for United Natural Foods Stock Options

The UNFI Media Network&nbsp;(UMN), powered by Swiftly, is intended to bring cutting-edge retail technology solutions to UNFI&#39;s extensive network of more than 30,000 retail customer locations and approximately 11,000 brand partners, to help them compete.

United Natural Foods Has Launched Retail Media Network For Independent And Regional Grocery Retailers Across The United States

Deutsche Numis analyst Krisztina Katai maintained a Hold rating on United Natural Foods (UNFI – Research Report) yesterday and set a price target o...

Deutsche Numis Sticks to Their Hold Rating for United Natural Foods (UNFI)

Miller Value Partners Deep Value Strategy Q2 2024 Letter

US Foods Holding: Still Appetizing At Current Levels

Performance Food Group: Big Moves And Big Upside Does Not Justify Further Moves Higher

FPA Queens Road Small Cap Value Fund Q2 2024 Commentary

The Chefs' Warehouse: Shares Are Undervalued, With Revenue Growth And Profitability

United Natural Foods: Undervalued Assets And Cash Flow Leave A Clear Runway To A Stock Price Increase

Undercovered Dozen: United Natural Foods, Procter & Gamble, Archer Aviation, Embraer +

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United Natural Foods

United Natural Foods (UNFI) Forecast

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