Diamonds and Dogs
8/25/20
The coffee is brewing. J.M. Smuckers (SJM) is jumping 8% to a four-month high following better than expected earnings as sales rose 10.8% to $1.97 billion. The company also raised guidance and raised their dividend last month thanks to strong sales for their Folgers coffee and their numerous pet brand products.
End of an era. Exxon Mobil (XOM) is down 2% after the Dow Jones Industrial Averages said they would remove the stock after 92 years due in part to their low stock price. In the biggest shake up in seven years, the Dow Jones will remove Exxon, Pfizer and Raytheon and replace them with stocks with higher stock prices. Crazy, but blame Apple's stock split for the decision.
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