Diamonds and Dogs

11/26/24

JM Smucker (SJM) jumps in earnings report. The jelly, jam and Jif peanut butter maker reported strong earnings that easily beat estimates. Management said they saw strong demand for their Uncrustables, Meow Mix, Café Bustelo, and Jif brands. Smucker also benefitted from the acquisition of Hostess Brands, the manufacturer of Twinkies. The company also raised guidance for 2025.

Amgen (AMGN) down 11% as their weight loss drug fails to live up to expectations. The research sounded good as their studies showed nearly 600 adults living with obesity or overweight and Type 2 diabetes achieved up to 17% average weight loss over the same span. The results were at the low end of the range. Bad news for Amgen is good news for Eli Lilly which is up 3%.

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