Diamonds and Dogs
June 17, 2010Diamond
J M Smucker Company, SJM
Earnings came in for the fiscal fourth quarter and for J M Smucker there was good news to spread. Smucker surpassed Wall Streets expectations by posting a profit of $120.6 million, or $1.01 a share which is up from .80 cents a share a year ago. Lower raw material and lower manufacturing costs helped the company boost fiscal fourth quarter profits even as sales stayed relatively flat. Peanut Butter however did see an increase in sales which had an impact Smucker's gains. The company expects full year earnings of $4.50-$4.60 a share which is significantly higher than that $4.42 a share analyst are expecting.
Smithfield Foods, SFD
The Dog of the day is also in the Food industry. Smithfield Foods is a company that takes part in the production and marketing of fresh and packaged meat products in the United States and internationally. Today Smithfield Foods is down $1.00 a share, -5.71% to $16.51. Last year the company reported fourth quarter losses of $81 million, or 57 cents per share due to producers hit hard by high feed costs and fears from the H1N1 virus.