The J.M. Smucker Company (NYSE: SJM), a food manufacturer famous for its jelly and baking products, reported a great first quarter on Friday. Adjusted earnings per share increased 12% to 92 cents. According to Reuters, management was able to beat expectations by a whopping 12 cents.

This is quite impressive given the fact that an analyst quoted by Reuters believes that more people eating at home are helping to fuel Smucker's success. I say this because, if people are deciding to dine at home more often, they are most likely doing so because of the recession.

Continue reading J.M. Smucker kills estimates in Q1

J.M. Smucker kills estimates in Q1 originally appeared on BloggingStocks on Sat, 22 Aug 2009 09:10:00 EST. Please see our terms for use of feeds.

Both J.M. Smucker Co. (NYSE: SJM) and Carnival Corp. (NYSE: CCL) topped earnings expectations in their respective quarterly reports Thursday, and shares of both ended the day higher.

Smucker said results for the fourth quarter and fiscal year ended April 30, 2009, included the operations of Folgers Coffee Co. since the completion of the merger in November. Adjusted income per share for the quarter was $1.02, a year-over-year increase of 40%. For the full year, it was $3.77 per share, an increase of 20%.

Continue reading Smucker and Carnival shares rise on earnings beats

Smucker and Carnival shares rise on earnings beats originally appeared on BloggingStocks on Fri, 19 Jun 2009 08:00:00 EST. Please see our terms for use of feeds.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Altria Group Inc. (NYSE: MO) Q4 profit rose on higher prices, and its forecast matched expectations.
• Amgen Inc. (NASDAQ: AMGN) Q4 earnings grew on cost cutting but revenue remained flat.
• Black & Decker Corp. (NYSE: BDK) shares tanked after the dismal Q4 report, and it announced job cuts.
• Carpenter Technology Corp. (NYSE: CRS) Q2 numbers resulted in a downgrade from one analyst.
• ConocoPhillips (NYSE: COP) reported a Q4 loss due to writedowns from recent acquisitions.
• DuPont (NYSE: DD) swung to a bigger-than-expected Q4 loss and its revenue fell as well.
• Eli Lilly & Co. (NYSE: LLY) swung to a Q4 loss on acquisition costs but reaffirmed its guidance.

Continue reading Earnings highlights: Ford, P&G, Wells Fargo, Starbucks, DuPont, Halliburton and others

Earnings highlights: Ford, P&G, Wells Fargo, Starbucks, DuPont, Halliburton and others originally appeared on BloggingStocks on Sat, 31 Jan 2009 08:40:00 EST. Please see our terms for use of feeds.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Abercrombie & Fitch Co. (NYSE: ANF) reported lower quarterly profits and cut its full-year outlook.
• Applied Materials Inc. (NASDAQ: AMAT) beat Q4 earnings expectations but revenues tumbled.
• Blackstone Group (NYSE: BX) reported a big loss in Q3, like many other private equity firms.
• Crocs Inc. (NASDAQ: CROX) posted a deeper-than-estimated Q3 net loss due to restructuring costs.
• Cypress Semiconductor Corp. (NYSE: CY) warned that it expects to swing to a net loss in Q4.
• Google Inc. (NASDAQ: GOOG) fell to a three-year-low despite expected growth in profits and revenues.
• Intel Corp. (NASDAQ: INTC) lowered its revenue forecast for Q4, which was bad news for PC makers.
• Kohl's Corp. (NYSE: KSS) beat low earnings expectations by a penny as same-store sales declined.
• Lions Gate Entertainment Corp. (NYSE: LGF) narrowed its net loss in Q2 but fell short of estimates.
• Nordstrom Inc. (NYSE: JWN) said its Q3 profit tumbled as its same-store-sales declined.
• Orbitz Wordlwide Inc. (NYSE: OWW) reported a wider net loss, which led to a analyst's downgrade.
• Procter & Gamble Co. (NYSE: PG) raised its forecasts after finalizing the sale of Folgers brand.
• Sirius XM Radio Inc. (NASDAQ: SIRI) halved its Q3 net loss and revenues and subscriber numbers rose.
• TJX Companies Inc. (NYSE: TJX) reported a Q3 earnings decline and offered a cautious outlook.
• Tyco International Ltd. (NYSE: TYC) posted better-than-expected profits but warned of softness ahead.
• Walmart Stores Inc. (NYSE: WMT) beat analyst estimates for Q3 and warned of a profit squeeze.

Continue reading Earnings highlights: Walmart, Google, Intel, P&G, Sirius, Blackstone and others

Earnings highlights: Walmart, Google, Intel, P&G, Sirius, Blackstone and others originally appeared on BloggingStocks on Sat, 15 Nov 2008 11:40:00 EST. Please see our terms for use of feeds.

P&G to make more cash from Folgers sale originally appeared on BloggingStocks on Tue, 11 Nov 2008 16:32:00 EST. Please see our terms for use of feeds.

This post is part of our Big Company, Small Town series, featuring large companies and the small towns in which they are headquartered.

The town of Orrville sits on the northern edge of the Ohio Amish area, and has that same bucolic feel. A friendly town that once was no more than a railroad stop for the agriculture, and a bedroom community for the heavy industries, of Wooster and Massillon, it is now best known as the jam capital of America, the home of the big (and growing) J.M. Smucker Company (NYSE: SJM).

Smucker has more than just its office in Orrville. For over 100 years, it has made jam in its factory right in the center of town. Of the 8,500 Orrville residents, 1,100 currently work for Smucker. It also operates the Simply Smucker's store in town, where visitors can view 350 varieties of Smucker's products, some available for taste-testing.

Since its fortunes and Orrville's are intertwined, it's fortunate for the community that Smucker appears on Fortune magazine's annual list of the top 100 companies to work for year after year, even finishing number one in 2004. The company is also known for its local charitable contributions. This year, for example, Smucker and its employees provided almost half of all funds raised by the United Way of Orrville.

Continue reading Big company, small town: J.M. Smucker & Co., Orrville, Ohio

Big company, small town: J.M. Smucker & Co., Orrville, Ohio originally appeared on BloggingStocks on Tue, 24 Jun 2008 10:10:00 EST. Please see our terms for use of feeds.

Well-known maker of peanut-butter and jelly products J.M. Smucker (NYSE: SJM) reported earnings for Q4 and the full fiscal year on Thursday. The market didn't like the report in the least. The stock closed down well over 8% at the end of yesterday's session.

Here's what happened. For the fourth quarter, net sales increased 20%, but that was little consolation to the bottom line, which dropped 11%, as earnings per diluted share came in at $0.67 versus $0.75 in the year-ago period. The top line also was the beneficiary of some inorganic growth based on acquisitions. If you adjust for certain items, bringing the earnings up to $0.73 per diluted share, the decrease in the bottom line improves to 3%, but a decline in this case is still a decline. Plus, earnings expectations were not met. The company came in five pennies shy of Wall Street's wishes, according to estimates posted at earnings.com.

For the fiscal year, J.M Smucker's top line increased 18%, also due in part to acquisitions. On both a reported and an adjusted basis, earnings per diluted share jumped 9% to $3.00. Margins really suffered during the quarter and the year. Input costs are inflating, and they're becoming difficult to manage.

Continue reading J.M. Smucker's stock sells off on earnings -- I'm not buying either

J.M. Smucker's stock sells off on earnings -- I'm not buying either originally appeared on BloggingStocks on Fri, 20 Jun 2008 12:10:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• In a move to help cut expenses and save on fuel prices, UAL Corporation (NASDAQ: UAUA), parent of United Airlines, will reduce its 460 airplane fleet by 70 jets. Not yet known is how may jobs will be affected, the Wall Street Journal reported.
• In an all stock deal, J.M. Smucker Co. (NYSE: SJM) is expected to buy Folgers coffee from The Proctor & Gamble Company (NYSE: PG) for an estimated $2B, according to the Wall Street Journal. Folgers, the best selling ground coffee in the U.S., has annual sales of about $1.6B.
• The Financial Times reported that Lehman Brothers Holdings Inc (NYSE: LEH) lost $500M-$700M on some of its hedging positions in Q2, which have contributed to a larger than expected loss that could result in the bank raising more capital by selling a stake to an outside investor. Lehman has begun negotiations with potential investors, including asset managers and Asian banks, sources said.

• According to sources, the Rocky Mountain News reported that troubled home builder Beazer Homes USA Inc (NYSE: BZH) is pulling out of Colorado. Beazer, which is being investigated for mortgage fraud by several government agencies, has built homes in the suburbs of Denver and in Colorado Springs.

Newspaper wrap-up: UAL Corp. to drop 70 more jets originally appeared on BloggingStocks on Wed, 04 Jun 2008 08:10:00 EST. Please see our terms for use of feeds.

This post is part of our Battle of the Brands feature. Let us know which brand you prefer, and check out other Battle of the Brands posts.

Drinkers of fine coffee may turn their noses up at Folgers or Maxwell House, but these two brands have been household names for decades. And they're not the just offering plain, old coffee for the commoners anymore. They've both added a variety of coffees to their product mixes in an effort to lure more upscale (picky? elitist?) coffee drinkers to their brands.

Folgers, one of the Procter & Gamble (NYSE: PG) family of products, has added roasts such as Black Silk, French Roast, Gourmet Supreme, and House Blend. They've also got a line of flavored coffees that include Crème Brulee, Vanilla Biscotti, and Caramel Drizzle. You will also find instant cappuccino in French Vanilla and Mocha Chocolate flavors, and the trusty old plain instant coffee is still available. I've had it, and it's not all that bad when you're in a pinch!

Continue reading Battle of the Brands: Folgers vs. Maxwell House

Battle of the Brands: Folgers vs. Maxwell House originally appeared on BloggingStocks on Sun, 04 May 2008 11:10:00 EST. Please see our terms for use of feeds.

Procter & Gamble (NYSE: PG) closed at $70.91.

• On 10/1/07 The Financial Times Merger Market reported PG is looking to sell its Duracell unit, as well as its Pringles and Folgers units according to sources close to the matter.
  
• PG overall option implied volatility of 19 is near its 26-week average of 18 according to Track Data, suggesting non-directional risk.

Hershey (NYSE: HSY) closed at $47.41.

• HSY Chairman and CEO Rick Lenny resigned.
  
• Alex Brown says: "We retain our Hold opinion, but lower our target from $48 to $45. With CEO Lenny leaving at 2007-end, we believe fundamental pressures and less likelihood of sale point to a lower valuation."
  
• HSY overall option implied volatility of 23 is near its 26-week average of 22 according to Track Data, suggesting non-directional risk.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Option update: P&G (PG) asset sale and Hershey (HSY) CEO resigns originally appeared on BloggingStocks on Tue, 02 Oct 2007 09:10:00 EST. Please see our terms for use of feeds.

Should Procter & Gamble sell some brands? originally appeared on BloggingStocks on Wed, 25 Jul 2007 11:25:00 EST. Please see our terms for use of feeds.

In addition to Wendy's (NYSE: WEN) management's recent hiring of JP Morgan (NYSE: JPM) and Lehman Brothers (NYSE: LEH) to help review strategic options for the company, the fast-food restaurant has decided to throw its hat into the breakfast ring by signing an exclusive deal with Proctor & Gamble (NYSE: PG). The deal allows Wendy's to be the only major fast-food restaurant chain to offer a proprietary blend of Folgers Gourmet Selections coffee and will become part of Wendy's new breakfast menu.

The best part of waking up is Folgers in your Wendy's coffee cup originally appeared on BloggingStocks on Fri, 18 May 2007 14:02:00 EST. Please see our terms for use of feeds.