Últimas noticias sobre McCormick & Co (NYSE:MKC) Bolsa

McCormick & Co

In its 135-year history, McCormick has grown to become the leading global manufacturer, marketer, and distributor of spices, herbs, extracts, seasonings, and other flavorings. Beyond consumers, McCormick's customer base also includes top quick-service restaurants, retail grocery chains, and other packaged food and beverage manufacturers. And its reach is extensive, with nearly 40% of sales generated beyond its home turf to include 150 other countries and territories. In addition to its namesake brand, the firm's portfolio includes Old Bay, Zatarain's, Thai Kitchen, Frank's RedHot, French's, and Cholula, among others.

McCormick & Company, Incorporated Common Stock

McCormick & Co Inc

Medikit Co Ltd

The World Economic Forum's (WEF) "Global Risks Report" for 2025 paints a sobering picture of the challenges ahead. The survey, released during the <a href="https://www.benzinga.com/topic/world-economic-forum#more-news">WEF&#8217;s annual meeting in Davos</a>, Switzerland, highlights the risks of geopolitical tensions, climate change and disinformation. 
These risks call for strategies to safeguard investments while capitalizing on emerging opportunities. Here&#8217;s how some ETFs could help investors sail smoothly through each global challenge mentioned in the survey.
Armed Conflict
According to the WEF report, 23% of respondents named state-based armed conflict as the most pressing risk for 2025. Persistent geopolitical tensions, such as the Russia-Ukraine conflict and the unrest in the Middle East, have shaken global trust.
In such a dire situation, defense ETFs and global security ETFs can save the day for investors. iShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) provides exposure to U.S.-based companies in the defense sector, which could benefit from increased government spending on military capabilities. Moreover, an expense ratio of 0.4% makes it a cost-effective option. Also, a beta of 0.97% means it is at slightly lower risk than the broader market during volatility.
In addition, the SPDR S&amp;P Kensho Future Security ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FITE#NYSE">FITE</a>) focuses on innovative companies addressing global security challenges, including cybersecurity and physical defense. A glimpse of its top holdings include Viasat (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>), Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) and F5 Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>). The fund boasts an expense ratio of 0.45%.
Extreme Weather
The climate crisis is intensifying the frequency and severity of weather events such as floods, heatwaves, and tornadoes. With environmental risks dominating the 10-year horizon, resilient investment strategies are the need of the hour.
Clean Energy ETFs are well-positioned to capitalize on this global challenge. Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) has holdings in solar energy companies like Enphase Energy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NYSE">ENPH</a>) and First Solar Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NYSE">FSLR</a>), which are poised to benefit from global decarbonization efforts.
See Also: <a href="https://www.benzinga.com/news/24/10/41594398/bill-gates-climate-innovation-model-wins-praise-from-ray-dalio-klaus-schwab-but-say-1-trillion-annua">Bill Gates&#8217; Climate Innovation Model Wins Praise From Ray Dalio, Klaus Schwab, But Say $1 Trillion Annual Funding Globally Is Not Enough</a>
Disinformation and Misinformation
For the second consecutive year, the scourge of misinformation and disinformation has been flagged by WEF as a top risk, leading to societal distrust, markets disruption, and heightened polarization. 
Many tech companies are united in their efforts to curb the spread of misinformation as well as disinformation (there is a very thin line of intentions separating the two terms). However, among those most equipped to fight this menace are cybersecurity companies. Naturally, <a href="https://www.benzinga.com/25/01/42829188/hack-attack-cybercrime-surge-fuels-demand-for-cybersecurity-etfs">ETFs focusing on the cybersecurity sector</a> stand to gain.
First Trust Nasdaq Cybersecurity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIBR#NASDAQ">CIBR</a>) focuses on companies addressing cyber threats, which often fan the fire of misinformation. Stocks of companies like Broadcom, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Crowdstrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) and Cisco Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>), prominent players in the cybersecurity space, are part of this fund&#8217;s holdings. 
Media ETFs like the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) can also benefit from media firms, which are increasingly becoming content-conscious. Media firms may benefit from investing in trusted content creation and digital information technologies.
Why ETFs Are Ideal In Turbulent Times
Insights from over 900 global risk experts, policymakers and industry leaders in September and October last year were obtained to compile WEF&#8217;s survey report. Some of the other short-term risks that the WEF's report highlights include societal polarization, cyber espionage, pollution, and inequality.
In these turbulent times, investors seek to hedge their investments instead of holding back from the market. ETFs come into the picture as flexible, cost-efficient and concern-specific instruments that allow investors to diversify their portfolios across sectors and geographies during global uncertainties.
As Carolina Klint of Marsh McLennan Europe told CNBC, "I think we're navigating an era now marked by increasing economic tensions&#8230;And I think we have to recognize the fragmentation is not a theoretical concern. It is something that we need to confront today. So, it has resulted in a more complex and uncertain trading environment." 
Building a resilient portfolio with ETFs aligned to global challenges can help investors power through 2025.
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JP Morgan analyst Ken Goldman maintains McCormick &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) with a Underweight and lowers the price target from $68 to $66.

Price Target

Analyst Ratings

JP Morgan Maintains Underweight on McCormick & Co, Lowers Price Target to $66

TD Cowen analyst Robert Moskow upgrades McCormick &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) from Hold to Buy and raises the price target from $86 to $90.

Upgrades

TD Cowen Upgrades McCormick & Co to Buy, Raises Price Target to $90

McCormick &amp; Company, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) is considering buying Sauer Brands&nbsp;from&nbsp;Falfurrias Capital Partners at a valuation of over $1 billion, Bloomberg cites familiar sources.
In 2019, Falfurrias bought Sauer Brands, famous for its Duke&#8217;s mayonnaise brand. The company also produces spices, herbs and other condiments.
Also Read: <a target="_blank" href="https://www.benzinga.com/tech/24/12/42486903/affirm-secures-4-billion-loan-deal-with-sixth-street-to-boost-bnpl-growth" rel="noreferrer noopener">Affirm Secures $4 Billion Loan Deal With Sixth Street to Boost BNPL Growth</a>
In 2020, McCormick purchased flavor manufacturer Fona International for $710 million and hot sauce maker&nbsp;Cholula&nbsp;for $800 million.
McCormick held $200.8 million in cash and equivalents as of <a href="https://www.benzinga.com/pressreleases/24/10/n41112901/mccormick-reports-third-quarter-performance-and-reaffirms-2024-outlook" target="_blank" rel="noreferrer noopener">Aug. 31, 2024</a>.
McCormick <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41116026/mccormick-stock-gains-after-q3-earnings-beat-raised-eps-outlook" rel="noreferrer noopener">reported third-quarter sales</a> of $1.68 billion, above the analyst consensus estimate of $1.67 billion. The adjusted EPS of 83 cents&nbsp;topped the street view of 67 cents.
McCormick expects fiscal 2024 sales growth of (-1)%-1%. The company expects fiscal year 2024 EPS of $2.85-$2.90, compared to the analyst consensus estimate of $2.86.
In October, on CNBC&#8217;s &#8220;Mad Money Lightning Round,&#8221;&nbsp;Jim Cramer&nbsp;recommended buying McCormick, citing it as <a target="_blank" href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41270853/jim-cramer-likes-reddit-very-much-calls-accenture-a-great-buy" rel="noreferrer noopener">an excellent idea</a>.
McCormick&nbsp;stock surged over 15% year-to-date. Investors can gain exposure to the stock through Timothy Plan US Large/Mid Cap Core ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPLC#NYSE">TPLC</a>) and VictoryShares US 500 Volatility Wtd ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CFA#NASDAQ">CFA</a>).
MKC Price Action: McCormick &amp; Company stock is up 0.64% at $80.68 Tuesday at publication.
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Photo: Billy F. Blume Jr. via Shutterstock

Media

Trading Ideas

TPLC

McCormick Eyes $1 Billion Deal To Acquire Duke's Mayonnaise Maker

Reported Earlier, McCormick In Talks To Buy Duke's Mayo Owner Sauer Brands

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Morgan Stanley analyst Ryan Kenny upgraded Jefferies Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>) from Equal-Weight to Overweight and raised the price target from $67 to $97. Jefferies Financial shares closed at $78.12 on Friday. See how other analysts view this stock.</li>
<li>Barclays analyst Benjamin Budish upgraded the rating for Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) from Equal-Weight to Overweight and increased the price target from $26 to $49. Robinhood shares closed at $41.67 on Friday. <a href="https://www.benzinga.com/quote/KR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities analyst Jason Kupferberg upgraded the rating for PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) from Neutral to Buy and raised the price target from $86 to $103. PayPal shares closed at $89.88 on Friday. See how other analysts view this stock.</li>
<li>Bernstein analyst Robin Zhu upgraded JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) from Market Perform to Outperform and boosted the price target from $43 to $46. JD.com shares closed at $37.18 on Friday. <a href="https://www.benzinga.com/quote/KR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Jefferies analyst Rob Dickerson upgraded McCormick &amp; Company, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) from Hold to Buy and increased the price target from $85 to $91. McCormick shares closed at $77.50 on Friday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying HOOD stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="597" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/09080336/image-62-1024x597.png" alt="" class="wp-image-683156" style="width:629px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/09080336/image-62-1024x597.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/09080336/image-62-300x175.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/09080336/image-62-768x448.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/09080336/image-62.png 1123w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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This Robinhood Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday

Jefferies analyst Rob Dickerson upgrades McCormick &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) from Hold to Buy and raises the price target from $85 to $91.

Jefferies Upgrades McCormick & Co to Buy, Raises Price Target to $91

Lawrence E. Kurzius, Executive Chairman of the Board of McCormick &amp; Company, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>), a global leader in flavor, announced that he will end his eight years of service as Chairman on December 31, 2024.&nbsp; Mr. Kurzius will continue as a Board member for McCormick, where he was employed for 22 years.&nbsp; He will not stand for re-election at the Company's annual shareholder meeting in March 2025.&nbsp; Mr. Kurzius transitioned the Chief Executive Officer responsibilities to Brendan Foley in September 2023 and continued to serve as Executive Chairman since that time.
McCormick's Board of Directors has appointed Brendan Foley, the Company's President and Chief Executive Officer, to succeed Mr. Kurzius as Chairman, in addition to his current duties, effective January 1, 2025.

Management

McCormick & Company Announces Brendan Foley To Succeed Lawrence Kurzius As Chairman Of The Board, Effective January 1, 2025

It is payable January 13, 2025 to shareholders of record December 30, 2024.

Dividends

McCormick Increases Quarterly Dividend From $0.42 To $0.45 Per Share On Its Common Stock

Nu Skin Enterprises, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nus#NYSE">NUS</a>) is driving its growth strategy through key initiatives that aim to revitalize its market presence and tap into high-growth areas. The company continues to prioritize thoughtful product introductions that align with shifting consumer preferences. A recent example is the launch of MYND360, a new line of clinically validated nutritional formulas tailored to support cognitive well-being.
Featuring six products, MYND360 is designed to enable users to manage stress, remain focused, enhance memory and sleep better. This innovation reflects Nu Skin&#39;s focus on the fast-growing brain health market. While these upsides, along with strength in the Rhyz business, have been working well. Nu Skin remains troubled by persistent macroeconomic obstacles.
<h2>Product Launches a Key Driver for Nu Skin</h2>
With the help of advanced technology and well-strategized product programs, Nu Skin tries to capture greater market share and maintain growth momentum. The company&#39;s long-term strategies stand on three key pillars &mdash; Products, Programs and Platforms. NUS has been successfully launching innovative beauty devices, which have become an important part of its growth.
Nu Skin&#39;s second-quarter 2024 results included positive contributions from new products such as Ageloc, Wellspa IO and RenewspA IO, along with the company&#39;s TRME weight management system. The ageLOC WellSpa iO has been a solid addition to the company&#39;s beauty device system brands, generating impressive response.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/78/81418.jpg?v=533402966" />
Image Source: Zacks Investment Research
<h2>Nu Skin Gains From Rhyz Business</h2>
Nu Skin&#39;s Rhyz business emerges as a cornerstone of its strategic vision, highlighted by its remarkable growth trajectory and significant contribution to the company&#39;s revenue stream. Rhyz represents a cohesive ecosystem comprising consumer, technology, and manufacturing entities, all dedicated to pioneering innovation within the realms of beauty, wellness, and lifestyle. Experiencing 32.3% revenue growth in the second quarter of 2024, Rhyz accounted for 15% of total enterprise revenues and is anticipated to reach 20% to 25% by 2025.
The success of this business reflects Nu Skin&#39;s commitment to capitalizing on evolving consumer trends, particularly in influencer and affiliate marketing, which are projected to surge in the coming years. By investing in Rhyz&#39;s manufacturing capabilities, technology advancements, and creator-led indie beauty brands, Nu Skin is strategically positioning itself to drive sustained growth and value creation within the beauty, wellness, and lifestyle market.
<h2>Challenges Faced by NUS</h2>
Nu Skin&#39;s second-quarter 2024 performance was hurt by continuous macroeconomic headwinds across most regions, which weighed on consumer spending and customer acquisition, especially for premium products. The company also grappled with pressures in the direct selling industry. These headwinds, along with foreign adverse currency fluctuations, hurt Nu Skin&#39;s quarterly revenues, which tumbled 12.2% year over year to $439.1 million in the second quarter.
The operating environment for Nu Skin&#39;s core business remains challenging, primarily due to macroeconomic factors and pressures within the direct selling industry. Taking into account the company&#39;s first-half 2024 performance and rising foreign exchange headwinds, management tightened the annual guidance range for 2024 in its second-quarter earnings release.
Nu Skin now anticipates revenues in the band of $1.73-$1.81 billion for 2024, which suggests a 12-8% decline from the year-ago period&#39;s reported figure. Earlier, the metric was expected to be in the range of $1.73-$1.87 billion. Management envisions adjusted earnings per share of 75-95 cents. The projection suggests a decline from adjusted earnings of $1.85 recorded in 2023. Management had earlier envisioned an adjusted EPS of 95 cents to $1.35 for 2024.
For the third quarter of 2024, the company expects revenues between $430 million and $465 million, which suggests a decline of 14% to 7% from the year-ago quarter&#39;s reported level. The company expects adjusted EPS of 15-25 cents in the third quarter of 2024 compared with 56 cents recorded in the same period last year. Shares of NUS have plunged 42.6% in the past three months compared with the industry&#39;s decline of 10%.
<h2>Final Words on NUS</h2>
Nu Skin continues to drive growth through strategic initiatives, innovative product launches, and the expanding Rhyz business. While the company has made significant strides in capturing market opportunities, especially in the beauty and brain health sectors, it faces ongoing challenges from macroeconomic pressures and headwinds in the direct selling industry. Moving forward, the Zacks Rank #3 (Hold) company&#39;s ability to balance innovation with market realities will be key to sustaining its growth trajectory.
<h2>Top 3 Staple Bets</h2>
Inter Parfums (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ipar#NASDAQ">IPAR</a>) is engaged in the manufacturing, distribution and marketing of a wide range of fragrances and related products. It currently carries a Zacks Rank of 2 (Buy).
The Zacks Consensus Estimate for IPAR&#39;s current financial-year sales and earnings indicates advancements of 10.2% and 8.4%, respectively, from the prior-year figures. It has a trailing four-quarter earnings surprise of 2.5%, on average.
Flowers Foods (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/flo#NYSE">FLO</a>), one of the largest producers of packaged bakery foods in the United States, currently carries a Zacks Rank #2. FLO has a trailing four-quarter earnings surprise of 1.9%, on average.
The Zacks Consensus Estimate for Flowers Foods&#39; current financial-year sales and earnings implies growth of around 1% and 5%, respectively, from the year-ago reported numbers.
McCormick &amp; Company, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mkc#NYSE">MKC</a>) is a leading manufacturer, marketer and distributor of spices, seasonings, specialty foods and flavors. It currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for McCormick &amp; Company&#39;s current fiscal-year sales and earnings indicates advancements of 0.6% and 8.2%, respectively, from the year-ago reported figures. MKC has a trailing four-quarter earnings surprise of 13.8%, on average.
<a href="https://www.zacks.com/stock/news/2351561/nu-skin-navigates-growth-with-innovation-amid-industry-challenges?cid=CS-BENZ-FT-analyst_blog|rank_focused-2351561">To read this article on Zacks.com click here.</a>

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Nu Skin Navigates Growth With Innovation Amid Industry Challenges

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer recommended buying Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>), saying he likes <a href="https://www.benzinga.com/news/24/03/37876921/reddit-stock-opens-for-trading-at-47-everything-you-need-to-know">the stock very much</a>.
Reddit made its long-awaited entry into the public markets earlier this year as the first major initial public offering of 2024. After pricing its IPO at $34 per share, the stock opened on March 21 for trading at $47. It closed Wednesday at $71 per share.
Carmaer also likes Cava (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>). &#8220;I don't want you to buy it up here,&#8221; he said. &#8220;I do want you <a href="https://www.benzinga.com/quote/CAVA/analyst-ratings">to own it</a>.&#8221;
The &#8220;Mad Money&#8221; host said Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) is &#8220;too hard&#8221; and recommended buying Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
When asked about GE HealthCare Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NYSE">GEHC</a>), he said. &#8220;I'd wait for another downgrade and buy more. I would not buy more right here.&#8221;
Cramer said buying McCormick &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) right here is a &#8220;very good idea.&#8221;
The Mad Money host said GlaxoSmithKline (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) goes higher.
Cadence Design Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) is a &#8220;winner,&#8221; he said.
&#8220;This is a loser. Maybe it can make a comeback,&#8221; Cramer said when asked about Nextracker Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXT#NASDAQ">NXT</a>). &#8220;I got too enthusiastic about it.&#8221;
Cramer said he is not encouraging buying in that sector, when asked about Equinor ASA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>).
Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) is a &#8220;great buy&#8221; here, Cramer said.
Cramer said he just doesn't understand Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>).
Price Action:
<ul>
<li>Cava shares fell 0.1% to settle at $131.86 on Wednesday.</li>
<li>Trump Media &amp; Technology shares fell 5.6% to close at $20.57.</li>
<li>Reddit shares gained 0.3% to close at $71.00.</li>
<li>Accenture shares rose 1.3% to close at $365.08.</li>
<li>Equinor shares fell 2% to settle at $24.88 on Wednesday.</li>
<li>Nextracker shares gained 0.3% to settle at $35.24.</li>
<li>Cadence Design shares gained 3.5% to close at $279.56 on Wednesday.</li>
<li>GlaxoSmithKline shares gained 5.8% to close at $40.24 on Wednesday.</li>
<li>Super Micro Computer shares gained 4.3% to close at $47.29 during the session.</li>
<li>GE Healthcare shares gained 0.1% to close at $90.77 during Wednesday's session.</li>
<li>McCormick shares gained 0.1% to close at $79.71 on Wednesday.</li>
</ul>
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Jim Cramer Likes Reddit Very Much, Calls Accenture A 'Great Buy'

Helen of Troy Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hele#NASDAQ">HELE</a>) posted second-quarter fiscal 2025 results, wherein both the top and bottom lines declined year over year. However, both metrics beat the Zacks Consensus Estimate.
During the quarter, management advanced its long-term strategies by strengthening the core business and reshaping the growth portfolio. Despite ongoing macroeconomic challenges, the company achieved early success with its &#39;Reset and Revitalize&#39; initiative, driven by stronger brand fundamentals, refined marketing and innovation efforts and expanded distribution.
<h2>HELE&#39;s Q2 in Detail</h2>
Adjusted earnings of $1.21 per share surpassed the Zacks Consensus Estimate of $1.08, delivering a positive surprise of around 12%. However, the bottom line declined 30.5% year over year due to reduced adjusted operating income and higher tax rates. These were somewhat countered by lower interest expenses and shares outstanding.
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<h3>Helen of Troy Limited Price, Consensus and EPS Surprise</h3>
<img alt="Helen of Troy Limited Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/05/1728481189.png" style="height:265px; width:576px" title="" />
Helen of Troy Limited price-consensus-eps-surprise-chart | Helen of Troy Limited Quote
Consolidated net sales of $474.2 million came ahead of the Zacks Consensus Estimate of $457 million. However, the metric fell 3.5% from the year-ago quarter&#39;s tally. This downtick was caused by reduced sales of hair appliances, humidifiers and air purifiers in the Beauty &amp; Wellness unit. This was partly compensated by growth in the home and insulated beverageware categories in the Home &amp; Outdoor segment. The decline in net sales was also partly mitigated by international expansion and increased sales of fans and thermometers within the Beauty &amp; Wellness category.
The consolidated gross profit margin contracted 110 basis points (bps) to 45.6% due to less favorable product and customer mixes within the Home &amp; Outdoor unit, partly made up by reduced commodity and product costs resulting from Project Pegasus initiatives.
The consolidated SG&amp;A ratio increased 140 basis points (bps) to 37.9%. The rise in such costs was due to increased spending on marketing, partly offset by reduced personnel costs.
The adjusted operating income declined 25.5% to $46.4 million, with the adjusted operating margin contracting 290 bps to 9.8%. Our model suggested an adjusted operating margin contraction of 360 bps.
</div>
<h2>HELE&#39;s Segmental Performance</h2>
Net sales in the Home &amp; Outdoor segment rose 0.8% to $241.9 million, fueled by greater insulated beverageware category sales and international sales. These were countered by weaker consumer demand, reduced replenishment orders from retail customers, and continued sluggishness in technical packs and related accessories.
Net sales in the Beauty &amp; Wellness segment declined 7.7% to $232.3 million. The decline was mainly caused by reduced sales of hair appliances stemming from softer consumer demand, changes in consumer spending habits and increased competition. Lower sales of humidifiers and air purifiers were due to lower orders from retail customers. There was also a decrease in water filtration product revenues due to the expiration of a licensing agreement. Nevertheless, these challenges were partly balanced by an increase in fan and thermometer sales. We expected Beauty &amp; Wellness net sales to decline 6.8% in the second quarter.
<h2>Other Details</h2>
Helen of Troy ended the quarter with cash and cash equivalents of $20.1 million and total short and long-term debt of $713.2 million. Net cash provided by operating activities for the first six months of fiscal 2025 was $69.9 million.&nbsp; The free cash flow for the same period was $55.9 million.
<h2>What to Expect From HELE in FY25?</h2>
For fiscal 2025, HELE anticipates consolidated net sales revenues to range between $1.885 billion and $1.935 billion, indicating a decline of 6% to 3.5% year over year. This sales outlook reflects ongoing concerns about persistent inflation and continued softness in consumer spending, particularly in certain discretionary product categories. The forecast also considers anticipated challenges in operational performance at the Tennessee distribution facility, along with heightened macroeconomic uncertainty. Management also anticipates a more competitive promotional environment and increased vigilance from retailers in managing their inventory levels.
In the Home &amp; Outdoor segment, net sales growth is now expected to range between a 2.3% decline and 1.4% growth compared to the earlier view of a 3-1% decline. The revised guidance includes shipping disruption impacts in the company&#39;s Tennessee distribution facility.
For the Beauty &amp; Wellness segment, net sales are projected to decline 9-7.5% now compared with an 8-5% decline expected before.
The company still envisions fiscal 2025 adjusted EPS to range from $7.00 to $7.50, indicating a decline of 15.8% to 21.4%. It expects adjusted EBITDA in the range of $287-$297 million, suggesting a fall of 11.8-14.6%. GAAP EPS is still expected between $4.69 and $5.45 in fiscal 2025.
The free cash flow is expected in the band of $180-$200 million now, down from the earlier view of $220-$240 million.
For the third quarter of fiscal 2025, the company expects sales to decline 1-4.5%. Management anticipates adjusted EPS to decline by 3-10% in the fiscal third quarter.
Shares of this Zacks Rank #3 (Hold) company have risen 1% in the past three months compared to the industry&#39;s 12.1% decline.
<h2>Three Staple Stocks Worth Betting On</h2>
The Chef&#39;s Warehouse (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chef#NASDAQ">CHEF</a>), which engages in the distribution of specialty food products, currently carries a Zacks Rank #2 (Buy).
CHEF has a trailing four-quarter earnings surprise of 33.7%, on average. The Zacks Consensus Estimate for The Chef&#39;s Warehouse&#39;s current fiscal year sales and earnings indicates growth of 9.7% and 12.6%, respectively, from the year-ago reported numbers.
Flowers Foods (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/flo#NYSE">FLO</a>), a packaged bakery food company, currently carries a Zacks Rank #2. FLO has a trailing four-quarter earnings surprise of 1.9%, on average.
The Zacks Consensus Estimate for Flowers Foods&#39; current financial-year sales and earnings implies growth of around 1% and 5%, respectively, from the year-ago reported numbers.
McCormick (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mkc#NYSE">MKC</a>) is a leading manufacturer, marketer and distributor of spices, seasonings, specialty foods and flavors. It currently carries a Zacks Rank of 2.
The Zacks Consensus Estimate for McCormick &amp; Company&#39;s current fiscal-year earnings indicates an advancement of 5.9% from the year-ago reported figures. MKC has a trailing four-quarter earnings surprise of 13.8%, on average.
<a href="https://www.zacks.com/stock/news/2348407/helen-of-troy-q2-earnings-top-beauty-wellness-sales-decline-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2348407">To read this article on Zacks.com click here.</a>

Earnings Beats

Retail Sales

CHEF

HELE

Helen of Troy Q2 Earnings Top, Beauty & Wellness Sales Decline Y/Y

WIIM

McCormick & Co shares are trading lower. Stifel and TD Cowen maintained Hold ratings on the stock.

TD Cowen analyst Robert Moskow maintains McCormick &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) with a Hold and raises the price target from $84 to $86.

TD Cowen Maintains Hold on McCormick & Co, Raises Price Target to $86

Stifel analyst Matthew Smith maintains McCormick &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) with a Hold and raises the price target from $75 to $85.

Stifel Maintains Hold on McCormick & Co, Raises Price Target to $85

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said NANO Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) is losing a <a href="https://www.benzinga.com/quote/NNE/news">&#8220;lot of money.&#8221;</a>
On Oct. 1, NANO Nuclear Energy said Carlos O. Maidana has been named as the company&#8217;s head of thermal hydraulics and space program.
Cramer recommended buying McKesson Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>). &#8220;I'm ready to start buying, don't buy all at once.&#8221;
On Sept. 25, Deutsche Bank analyst George Hill maintained McKesson with a Buy and lowered the price target from $623 to $579.
Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) is a &#8220;little too much oil for me," Cramer said.
On Oct 1, Wells Fargo analyst Roger Read maintained Diamondback Energy with an Overweight and lowered the price target from $230 to $219.
&#8220;It's got a huge multiple for its growth rate, and that is worrisome to me. I'm going to have to say we got to come back with something that is less expensive,&#8221; Cramer said when asked about Littelfuse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LFUS#NASDAQ">LFUS</a>).
On Aug. 29, Baird analyst Luke Junk maintained Littelfuse with an Outperform and raised the price target from $300 to $315.
Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>) is a &#8220;value trap,&#8221; Cramer said.
On Sept. 9, UBS analyst Manav Gupta maintained Archer-Daniels Midland with a Neutral and raised the price target from $60 to $64.
Price Action:
<ul>
<li>NANO Nuclear Energy shares gained 14.8% to settle at $16.54 on Tuesday.</li>
<li>McKesson shares gained 0.8% to close at $498.48 during the session.</li>
<li>Diamondback shares gained 3% to close at $177.52 during Tuesday's session.</li>
<li>Littelfuse shares fell 1.7% to settle at $260.64 on Tuesday.</li>
<li>Archer-Daniels-Midland shares fell 0.4% to close at $59.52 on Tuesday.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/09/41102060/jim-cramer-hand-picks-these-3-stocks-to-ride-the-crest-of-the-chinese-stimulus-frenzy">Jim Cramer Hand Picks These 3 Stocks To Ride The Crest Of The Chinese Stimulus Frenzy</a></li>
</ul>
Image: Shutterstock

FANG

LFUS

Jim Cramer: This Consumer Defensive Stock Is A Buy, Archer-Daniels-Midland Is A 'Value Trap'

B of A Securities analyst Peter Galbo maintains McCormick &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) with a Buy and raises the price target from $95 to $96.

B of A Securities Maintains Buy on McCormick & Co, Raises Price Target to $96

McCormick &amp; Company, Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mkc#NYSE">MKC</a>) reported solid third-quarter fiscal 2024 results, wherein the top and bottom lines beat the Zacks Consensus Estimate, and earnings increased year over year.
The company achieved a significant milestone by delivering overall global positive volume growth in the quarter, indicating improving trends across both business segments. The momentum is expected to carry into the fourth quarter. In the Consumer segment, MKC recorded solid volume growth despite facing a challenging macroeconomic environment in China. Meanwhile, in the Flavor Solutions segment, sequential volume improvements were realized, driven by strong growth in Branded Foodservice.
Management continues to bolster its position across major markets and core categories by focusing on growth levers such as brand marketing, product and packaging innovation, category management and proprietary technology. The company expects its cost-saving initiatives to help fund future investments and drive operating margin expansion. The year-to-date results, combined with strategic growth plans, reinforce confidence in achieving the mid-to-high range of projected sales growth for 2024.
<div class="chart_embed">
<h3>McCormick &amp; Company, Incorporated Price, Consensus and EPS Surprise 
<img alt="McCormick &amp; Company, Incorporated Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/ae/1727790166.png" style="height:265px; width:576px" title="" /></h3>
McCormick &amp; Company, Incorporated price-consensus-eps-surprise-chart | McCormick &amp; Company, Incorporated Quote
</div>
<h2>MKC&#39;s Quarterly Performance: Key Metrics and Insights</h2>
Adjusted earnings of 83 cents per share increased from 65 cents reported in the year-ago quarter. The metric came above the Zacks Consensus Estimate of 68 cents per share, representing a surprise of 22.1%. The year-over-year upside can be attributed to greater operating profit, the timing of a specific tax benefit and increased income from unconsolidated operations, fueled by robust performance from McCormick de Mexico, the company&#39;s largest joint venture.
This global leader in flavor generated sales of $1,679.8 million, flat year over year, including minimum impacts from currency movements. Impacts from the company&#39;s strategic decision to divest its canning business were offset by a 1% increase in volume backed by the Consumer segment, somewhat negated by pricing. The top line exceeded the Zacks Consensus Estimate of $1,664 million.
McCormick&#39;s gross profit margin expanded 170 basis points. The upside can be attributed to improved mix and cost savings from the Comprehensive Continuous Improvement&nbsp;program.
The adjusted operating income came in at $288 million, up 15% year over year, reflecting gross margin expansion and reduced SG&amp;A expenses.
<h2>Decoding MKC&#39;s Segmental Performance</h2>
Consumer: Sales remained flat year over year at $937.4 million, with a negligible impact on currency movements. Sales were hurt by a 1% decline from pricing actions, offset by 1% volume growth. Volume growth in the Americas and the Europe, Middle East, and Africa (&quot;EMEA&quot;) regions was partly negated by declines in the Asia-Pacific region (APAC). Sales remained flat year over year in the Americas while moving up 3% in the EMEA region. Segment sales dipped 1% in the APAC.
Flavor Solutions: Sales in the segment inched down 1% to $742.4 million. On a constant-currency basis, sales were flat year over year as a 1% rise in pricing was countered by the company&#39;s strategic move to sell off its canning business. Flavor Solutions&#39; sales in the Americas grew 2%. Flavor Solutions&#39; sales in the EMEA fell by 8%. Sales in the APAC market fell 1% year over year.
<h2>MKC&#39;s Financial Health Snapshot</h2>
McCormick exited the quarter with cash and cash equivalents of $200.8 million, long-term debt of $3,343.1 million and total shareholders&#39; equity of $5,451 million. In the nine months ended Aug. 31, 2024, net cash provided by operating activities was $463.2 million.
<h2>What to Expect From MKC in 2024?</h2>
For fiscal 2024, McCormick is focused on strengthening its volume trends and prioritizing investments to fuel profits. The company&#39;s CCI and Global Operating Effectiveness programs are driving growth investments and operating margin expansion. Management anticipates currency movements to have a minimal impact on 2024 results.
For 2024, management expects sales to range between a 1% decline and 1% growth, including minimal currency impacts. The company anticipates witnessing a favorable impact of pricing actions undertaken in the prior year. Volume trends are likely to improve due to solid brands and targeted investments. However, its decision to discontinue the low-margin business and sell the canning business is likely to put some pressure on volume during 2024.
Management expects adjusted operating income to grow 4-6%, including minimal currency impacts. This is likely to be driven by gross margin expansion, somewhat offset by a major rise in brand marketing investments.
Management envisions 2024 adjusted EPS in the band of $2.85-$2.90, which suggests a 5-7% increase from the year-ago period, including minimal currency impacts. On a GAAP basis, McCormick projects 2024 earnings in the range of $2.81- $2.86 per share compared with the year-ago period figure of $2.52.
This Zacks Rank #2 (Buy) stock has rallied 17.2% in the past three months compared with the industry&#39;s growth of 8.8%.
<h2>Other Top Staple Stocks</h2>
Here, we have highlighted three other top-ranked consumer staple stocks &mdash; The Chef&#39;s Warehouse (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chef#NASDAQ">CHEF</a>), Flowers Foods (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/flo#NYSE">FLO</a>) and Kimberly-Clark Corporation&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kmb#NYSE">KMB</a>).
The Chef&#39;s Warehouse, which engages in the distribution of specialty food products, currently sports a Zacks Rank #1 (Strong Buy).
CHEF has a trailing four-quarter earnings surprise of 33.7%, on average. The Zacks Consensus Estimate for The Chef&#39;s Warehouse&#39;s current fiscal year sales and earnings indicates growth of 9.7% and 12.6%, respectively, from the year-ago reported numbers.
Flowers Foods, one of the largest producers of packaged bakery foods in the United States, currently carries a Zacks Rank #2. FLO has a trailing four-quarter earnings surprise of 1.9%, on average.
The Zacks Consensus Estimate for Flowers Foods&#39; current financial-year sales and earnings implies growth of around 1% and 5%, respectively, from the year-ago reported numbers.
Kimberly-Clark is a personal care and consumer tissue product company that currently carries a Zacks Rank of 2.
The Zacks Consensus Estimate for Kimberly-Clark&#39;s current fiscal-year earnings indicates an advancement of 10.4% from the year-ago reported figure. KMB has a trailing four-quarter earnings surprise of 12.6%, on average.
<a href="https://www.zacks.com/stock/news/2344136/mccormick-q3-earnings-top-estimates-mkc-volumes-improve-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2344136">To read this article on Zacks.com click here.</a>

McCormick Q3 Earnings Top Estimates, MKC Volumes Improve Y/Y

McCormick &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) shares are trading higher after the company reported its third-quarter results and<a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41112901/mccormick-reports-third-quarter-performance-and-reaffirms-2024-outlook" rel="noreferrer noopener"> raised its full-year EPS outlook.</a>
The company registered quarterly adjusted earnings per share of 83 cents,<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener"> beating the street view of 67 cents</a>. Quarterly sales total $1.679 billion, outpacing the analyst consensus of $1.668 billion. Sales in the third quarter were comparable to the year-ago period, reflecting volume growth of 1%, partially offset by price.
Gross profit margin expanded by 170 basis points compared to the third quarter of last year. This expansion was driven by favorable mix as well as cost savings led by the company&#8217;s Comprehensive Continuous Improvement (CCI) program.
Also Read:<a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41113340/us-stocks-set-for-shaky-start-ahead-of-jolts-data-nike-earnings-strategist-says-these-3-structural-" rel="noreferrer noopener"> US Stocks Set For Shaky Start Ahead Of JOLTS Data, Nike Earnings: Strategist Says These 3 Structural Drivers Support &#8216;Buying The Dip&#8217;</a>
&#8220;This quarter we reached a meaningful milestone by delivering total global positive volume growth, reflecting improved trends across both segments, and we expect this momentum to continue into the fourth quarter,&#8221; said Brendan M. Foley, President and CEO.
McCormick&#8217;s quarterly dividend of&nbsp;$0.42&nbsp;per share on its common stocks is payable&nbsp;October 21 <a target="_blank" href="https://www.benzinga.com//node/41014659" rel="noreferrer noopener">to shareholders of record&nbsp;October 7.</a>
Outlook: McCormick has raised its fiscal year 2024 earnings per share (EPS) outlook to a range of $2.85 to $2.90,<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> compared to the previous estimate of $2.80 to $2.85</a>, which was in line with the consensus estimate of $2.86. The company expects its sales to range between a decline of 1% to an increase of 1%, with minimal impact from currency.
For fiscal 2024, the company expects strong cash flow driven by profit and working capital initiatives and anticipates returning a significant portion of cash flow to shareholders through dividends.
Price Action: MKC shares are trading higher by 2.07% to $84.00 premarket at last check Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41111098/if-you-invested-1-000-in-peter-thiel-co-founded-palantir-when-it-ipoed-4-years-ago-heres-how-muc" target="_blank" rel="noreferrer noopener">If You Invested $1,000 In Peter Thiel Co-founded Palantir When It IPOed 4 Years Ago, Here's How Much You Would Have Now</a></li>
</ul>

Equities

Movers

General

McCormick Stock Gains After Q3 Earnings Beat, Raised EPS Outlook

Stocks are gearing up for another nervy start on Tuesday after they scrapped through in the previous session to<a href="https://www.benzinga.com/news/earnings/24/10/41110228/s-p-records-first-positive-september-since-2019-amid-improving-investor-sentiment-fear-index-moves-"> finish a seasonally weak September on a high.</a> Some strategists point to the unusual September gains as a testament to the market&#8217;s resilience. The unequivocal belief is the gains could continue into the fourth quarter and beyond only if the economy can skirt a recession.
Each incoming economic data, including the job opening and manufacturing activity data due Tuesday, would offer evidence regarding the economy&#8217;s strength or lack thereof. This being the presidential election year, traders brace for more volatility at least until Nov. 5. The market may also have to contend with earnings as they begin to roll out in the second half of the month.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.07%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.09%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.27%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.23%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Tuesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) eased 0.02% to $573.63 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.09% to $488.50, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Week:
U.S. stocks survived a bout of selling pressure and closed Monday&#8217;s session higher. The overbought levels and a slump in some major global markets introduced caution right at the start of the session, and the major indices moved mostly below the unchanged line for much of the session. The selling intensified after Fed Chair Jerome Powell poured cold water on hopes of rapid downward adjustment of rates during his speech.
The major indices staged a late-hour recovery to end September firmly in the green, with the S&amp;P 500 and Dow Industrials closing at fresh highs. Nine of the 11 S&amp;P 500 sector classes closed in the green, with communication services, energy and real estate stocks seeing strong buying interest. On the other hand, material and consumer discretionary stocks pulled back.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Day&#8217;s Performance (+/)</td>
<td>Value</td>
<td>September Performance</td>
<td>Q3 Performance</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.38%</td>
<td>18,189.17</td>
<td>+2.69%</td>
<td>+2.58%</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.42%</td>
<td>5,762.48</td>
<td>+2.02%</td>
<td>+5.53%</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.04%</td>
<td>42,330.15</td>
<td>+1.85%</td>
<td>+8.21%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.24%</td>
<td>2,229.97</td>
<td>+0.56%</td>
<td>+8.90%</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Fed&#8217;s larger-than-expected rate cut can buy more time for high-quality stocks to remain expensive and even help lower-quality cyclical stocks, especially after recent China actions, said Morgan Stanley&#8217;s US Equity Strategist Mike Wilson. &#8220;However, I believe labor data and other growth indicators need to improve to justify these conditions continuing into year-end and beyond – i.e., a soft landing with growth reaccelerating, inflation stabilizing above 2%, and the Fed continuing to cut rates, &#8221; the strategist said.
The market is entering a seasonally strong period after being up for eight of the nine months. Fund Strat&#8217;s Head of Research Tom Lee said in the firm&#8217;s weekly commentary that the following three favorable structural drivers for equities support &#8220;buy the dip:&#8221;
<ul>
<li>Fed launches easing cycle + &#8220;no landing&#8221;</li>
<li>China PBOC bazooka</li>
<li>Post-election and cash on sidelines dynamics</li>
</ul>
He noted that when the Fed cuts rate and the US economy is not in recession, the S&amp;P 500 Index has risen seven out of seven times both three and six months later.
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Upcoming Economic Data:
<ul>
<li>S&amp;P Global is due to release the final manufacturing purchasing managers&#8217; index for September at 9:45 a.m. EDT. Economists, on average, expect the final manufacturing PMI to come in at 47, down from 47.9 in August.</li>
<li>The Institute for Supply Management will release its national manufacturing PMI at 10 a.m. EDT, with the consensus calling for a reading of 47.5 for September, slightly up from 47.2 in August.</li>
<li>The Labor Department is scheduled to release the results of its August Job Openings and Labor Turnover Survey at 10 a.m. EDT. Economists, on average, estimate job openings to remain unchanged with the July level, at 7.7 million.</li>
<li>The Commerce Department&#8217;s construction spending report for August, due at 10 a.m. EDT, will likely show flattish spending relative to July, which saw a 0.3% month-over-month drop.</li>
<li>Federal Reserve Governor Lisa Cook will make a public appearance at 11:10 a.m. EDT.</li>
<li>Richmond Fed President Tom Barkin, Atlanta Fed President Raphael Bostic and Boston Fed President Susan Collins are scheduled to participate in a joint panel discussion about technology-enabled&nbsp;disruption at 6:15 p.m. EDT.</li>
</ul>
Stocks In Focus:
<ul>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) rallied nearly 7.50% <a href="https://www.benzinga.com/premarket">in premarket trading </a>after the company said it has expanded its TV streaming delivery network to multi-site operation.</li>
<li>Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) climbed over 2% on a positive analyst action.</li>
<li>Acuity Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>), McCormick &amp; Company, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>), Paychex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) and United Natural Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNFI#NYSE">UNFI</a>) are among the notable <a href="https://www.benzinga.com/calendars/earnings">companies due to report their quarterly results before the market open.</a></li>
<li>Those reporting after the close are NIKE, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>), Resources Connection, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGP#NASDAQ">RGP</a>) and Cal-Maine Foods, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CALM#NASDAQ">CALM</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures pulled back sharply, while gold futures advanced moderately. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) traded slightly higher under the $64K level. The yield on the 10-year benchmark Treasury note fell 5.7 basis points to 3.745%.
In Asia, the Japanese market rebounded, although sentiment elsewhere remained muted. The Chinese, Hong Kong and South Korean markets remained closed for public holidays. European stocks showed tentativeness in early trading ad traders digested the preliminary September consumer price inflation data for the eurozone.
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Barclays analyst Andrew Lazar maintained a Hold rating on McCormick & Company (MKC – Research Report) today and set a price target of $85.00. The c...

Barclays Remains a Hold on McCormick & Company (MKC)

TD Cowen upgraded McCormick (MKC) to Buy from Hold with a price target of $90, up from $86. Published first on TheFly – the ultimate source for rea...

McCormick upgraded to Buy from Hold at TD Cowen

As previously reported, TD Cowen upgraded McCormick (MKC) to Buy from Hold with a price target of $90, up from $86. The firm views McCormick's port...

McCormick upgraded to Buy at TD Cowen on well-positioned portfolio

Consumer staples facing a tougher 2025 on MAHA initiatives, pivot to tech - analyst

Fundsmith Equity Fund 2024 Annual Letter To Shareholders

Wells Fargo's Harvey: Investors could be driving pricing strategy in stocks

Jefferies analyst Robert Dickerson reiterated a Buy rating on McCormick & Company (MKC – Research Report) today and set a price target of $90.00. T...

Jefferies Reaffirms Their Buy Rating on McCormick & Company (MKC)

Citi analyst Thomas Palmer maintained a Hold rating on McCormick & Company (MKC – Research Report) today. The company's shares closed yesterday at ...

Citi Remains a Hold on McCormick & Company (MKC)

CPI read: Food prices drop for bread, poultry, and fish; eggs and orange juice are still in inflation mode

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Press Releases

McCORMICK REPORTS SECOND QUARTER PERFORMANCE, REAFFIRMS 2024 OUTLOOK, AND ANNOUNCES 2024 INVESTOR DAY

McCormick & Company to Participate in Barclays Global Consumer Staples Conference

McCormick & Company to Report 2024 Third Quarter Financial Results on October 1, 2024

McCormick Declares $0.42 Quarterly Dividend

McCORMICK REPORTS THIRD QUARTER PERFORMANCE AND REAFFIRMS 2024 OUTLOOK

McCormick & Company Announces Investor Day Details

McCormick & Company is Advancing its Leadership and Differentiation in Flavor

McCormick Announces Increase in Quarterly Dividend

Brendan Foley to succeed Lawrence Kurzius as Chairman of the Board for McCormick & Company

McCormick & Company to Report 2024 Fourth Quarter Financial Results on January 23, 2025

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