On this episode of Stock Movers with Alexis Christoforous:
- Nuvalent (NUVL) shares are higher on news GSK agreed to buy Nuvalent for $10.6 billion, securing a US biotech firm developing treatments for lung cancer.
- JM Smucker (SJM) shares are on the move after it posted fourth-quarter profits that beat Wall Street expectations as higher prices helped boost the packaged food company.
- Vail Resorts (MTN) is dropping after the ski resort operator cut its net income guidance for the full year, attributing the reduction to "historically challenging" weather conditions in the western US. The guidance missed the average analyst estimate.
The JM Smucker Company specializes in producing and selling food and animal nutrition products. Net sales break down by activity as follows:
- sale of coffee and food products (76.6%): coffee (Folgers® brands, Dunkin' Donuts® and Café Bustelo® brands) peanut butter, jams and jellies, oils, condensed milk, ready-to-use frostings and glazes, flour and baking ingredients, cookies, frozen potatoes, juices and beverages, dessert toppings, syrups, pickles, condiments, etc. (Uncrustables, Jif, Smucker's, Hostess brands, etc.);
- sale of animal food products (19.9%): Meow Mix, Milk-Bone, Pup-Peroni, Canine Carry Outs brands, etc.;
- other (3.5%).
Net sales are distributed geographically as follows: the United States (94.5%), Canada (4%) and other (1.5%).
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