Today's Research Reports on Stocks to Watch: Walmart and J.M. Smucker
NEW YORK, NY / ACCESSWIRE / July 11, 2018 / Walmart shares closed in green as the Company made headlines after the Wall Street Journal reported that Jet.com will be opening a fulfillment center in the Bronx and will be offering same-day deliveries. Walmart acquired Jet.com back in 2016. Shares of J.M. Smucker entered red territory despite announcing earlier this week that it is selling its baking business for $375 million.
RDI Initiates Coverage on:
Walmart Inc.
https://www.rdinvesting.com/report/?ticker=WMT
The J. M. Smucker Company
https://www.rdinvesting.com/report/?ticker=SJM
Walmart Inc. shares closed up 1.49% on about 6 million shares traded on Tuesday. It was revealed yesterday by the Wall Street Journal that Jet.com is opening a fulfillment center in The Bronx, New York's northernmost borough, this fall. Walmart bought Jet.com back in 2016. The Bronx will be one of the first markets for same-day delivery for Jet.com. Walmart orders will not be included to begin with. According to a Walmart spokeswoman, the warehouse opening will bring hundreds of jobs to the neighborhood, and the building will be used to fulfill orders of everything from fresh groceries to even tech gadgets. Third-party service Parcel will assist with the deliveries. So far this year, Walmart shares are down 11% but are up 19% in the last 12 months.
Access RDI’s Walmart Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=WMT
The J. M. Smucker Company shares closed down 1.60% yesterday despite some big news from the company earlier in the week. The company announced that it has entered into a definitive agreement to sell its baking business to Brynwood Partner in a transaction worth $375 million. According to J.M. Smucker Management, the move aligns well with its strategy to concentrate on other prospective business areas. Chief Executive Officer Mark Smucker stated, "The divestiture reflects our strategy to further focus our portfolio and develop a stronger presence in pet food, coffee, and snacking." According to J.M. Smucker, the baking brand business saw net sales of around $370 million for the fiscal year ended April 30th. In other news, JPMorgan lowered its estimates in earnings per share for the company citing trade war tensions. The firm expects the company's EPS to be $8.29 and $8.83 in fiscal 2019 and fiscal 2020, respectively. Previously the estimate was $8.56 and $9.15.
Access RDI’s The J. M. Smucker Company Research Report at:
https://www.rdinvesting.com/report/?ticker=SJM
Our Actionable Research on Walmart Inc. (NYSE: WMT) and The J. M. Smucker Company (NYSE: SJM) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
