Diamonds and Dogs
Peanut butter jelly time! Our diamond, J.M. Smucker Co. (SJM), is jumping $10 or 8% to new all-time highs after posting better than expected earnings in their fourth quarter. The company reported earnings of $1.86 per share which crushed expectations of $1.19 a share as sales rose 25% year over year thanks in part to a recent acquisition of Big Heart Pet Brands. Looking forward, Smucker said it expects to earn between $6.42 and $6.57 a share on revenue of $7.73 billion. Analysts were looking for EPS of $6.36 billion and sales of $7.75 billion. Analyst at Citi indicated JM Smucker is set up well for 2017.
You won't be able to restore today's dog as easily as you might think. Restoration Hardware (RH) is dropping 20% to a new 52 week low and its lowest point since going public in 2012 after cutting its annual financial forecasts and posting earnings results that missed Wall Street's estimates. The company reported a loss of 33 cents per share verse an earnings of 17 cents per share last year. Analysts were expecting 5 cents per share. Management was confident the worst was behind the company. Hopefully, they're right for shareholder's sake.
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