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☆ Smucker's fifth-generation CEO said he's no nepo baby and won't let his kids be, either
▼ + stars: | 2024-04-09 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Mark Smucker, the CEO of J. M. Smucker Company, said the company is a meritocracy. Smucker, a fifth-generation leader, worked outside the company and got a graduate degree before joining. Family members must work outside the company and preferably hold a graduate degree. AdvertisementThe CEO said he was not always keen to join the family business as a child. "One is that you've got to work outside the company no matter what.

Persons: Mark Smucker, —, Smucker's, Orville, Smucker, Fortune, William & Mary, you've, Richard, Richard Smucker, Thomas Kirk Organizations: Smucker, Service, William &, Arizona State, Brightstar Capital Partners, New York Magazine Locations: Orville , Ohio, Alabama, Argentina, South America, Danish

☆ Cramer's week ahead: Pay attention to Friday's labor report, the 'great rate arbiter'
▼ + stars: | 2023-12-01 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

"This was some week for the huddled masses of stocks longing to be free of the bears," he said. He'll also be paying attention when Ollie's Bargain Outlet reports earnings, wondering if consumers have moved on from off-price retailers. With an earnings report from Dollar General , Thursday will tell investors whether the company has been able to "break the anti-dollar store spell," Cramer said. Friday will bring the "great rate arbiter," November's labor report. Cramer said he thinks rates will keep falling if the unemployment rate rises to 4% and there isn't significant wage growth.

Persons: CNBC's Jim Cramer, pinpointing, Cramer, he'll, Campbell, He'll Organizations: homebuilder, Dollar, Broadcom, Lululemon, VMware

☆ Homesick Americans living in the UK should head to Costco for snacks
▼ + stars: | 2023-11-11 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Costco sells some American brands and products that aren't commonly available in the UK. Candy brands I saw at Costco included Red Vines licorice, Mike and Ike candy, and Welch's Fruit Snacks. A five-pack of Kraft Macaroni & Cheese Dinner costs £11.19 (around $2.75 per box) on the UK website, whereas on its US website, Costco charges $18.99 for 18 boxes of around the same weight – or just over $1 per box. AdvertisementAdvertisementBrits can still get their tea fixThere were, however, plenty of British products on sale, showing how it had adapted its assortment to UK shoppers. Grace Dean/Insider; Will Martin/InsiderLike many supermarkets in the UK, Costco was keen to point out the local origins of some of its own-brand Kirkland Signature produce as consumers pay more attention to food miles and supporting domestic agriculture.

Persons: —, Jerry's, Kraft, Will Martin, Candy, Red Vines, Mike, Ike, I'd, Grace Dean, Tetley, Heinz, Heinz Beanz, Jacks Organizations: Costco, Kraft, &, Service, Kraft Mac, Tesco, Asda, YouTube, Red, pretzels, San Francisco Pretzel Company, Daily, San Francisco Bay Coffee, Kraft Macaroni, Yorkshire Tea, Kirkland, Aberdeen Angus Locations: London, Puerto Rico, Canada, American, San Francisco Bay, South Croydon, Japan

☆ Walmart says customers on Ozempic are actually spending more money overall
▼ + stars: | 2023-10-11 | by ( Gloria Dawson | ) www.businessinsider.com time to read: +3 min

Walmart told the analysts the small group of known customers who take the drugs spend more overall. AdvertisementAdvertisementWalmart is trying to clarify the impact weight-loss drugs like Ozempic and Wegovy are actually having on its bottom line. AdvertisementAdvertisementBut speaking to Morgan Stanley analysts, Walmart has clarified "two potential misconceptions," the analysts wrote. But, within this group, Walmart observed these customers were spending slightly less on food year over year. In aggregate, GLP-1 spending changes are not moving the needle for Walmart's total business, the authors write.

Persons: Morgan Stanley, —, John Furner, Furner, hasn't, Rice Krispies Organizations: Walmart, Service, Bloomberg

☆ Ozempic isn't the existential threat food companies think it is — yet
▼ + stars: | 2023-10-06 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +6 min

Food companies fear soaring Ozempic sales could hurt their bottom lines. AdvertisementAdvertisementExecutives at America's biggest food companies can't stop talking about Ozempic . And early data suggests that Ozempic sales will have some impact on the food industry. AdvertisementAdvertisementFor example, if consumers begin to prefer smaller portions, food companies have time to adjust their package sizes, and restaurants have time to modify their menus. "This is not an existential threat to the food industry," he said.

Persons: —, Doug McMillon, Arun Sundaram, Morgan Stanley, Walmart's John Furner, Steve Cahillane, Rice Krispies, Jefferies, Sundaram, David M, Gordon, Ozempic Organizations: Service, America's, Nordisk, North, Walmart, Bloomberg, Wall, Cheesecake

Smucker's $5.6 bln buyout dealIndexes: S&P 500 +0.67%, Nasdaq +1.14%, Dow +0.25%Sept 11 (Reuters) - The Nasdaq closed sharply higher on Monday as Tesla surged on optimism around artificial intelligence and investors awaited inflation data due later this week. The S&P 500 climbed 0.67% to end at 4,487.46 points. Hostess Brands (TWNK.O) surged 19.1% after J. M. Smucker (SJM.N) said it would buy the Twinkies-maker in a $5.6 billion deal. Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 1.5-to-one ratio. The S&P 500 posted 14 new highs and 11 new lows; the Nasdaq recorded 36 new highs and 199 new lows.

Persons: Brendan McDermid, Morgan Stanley, Tesla, megacaps, Walt Disney, Greg Bassuk, chipmaker, Ankika Biswas, Shreyashi Sanyal, Shubham Batra, Noel Randewich, Arun Koyyur, Vinay Dwivedi, Richard Chang Organizations: New York Stock Exchange, REUTERS, Qualcomm, Apple Hostess Brands, Nasdaq, Dow, Amazon, Microsoft, Sunday, Charter Communications, ESPN, NFL, Federal, New York Fed, PPI, AXS Investments, Traders, Dow Jones, Apple, Hostess Brands, Thomson Locations: New York City, U.S, New York, Bengaluru, Oakland, Calif

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsSummaryCompanies Tesla gains on Morgan Stanley upgradeQualcomm up after deal to supply 5G chips to AppleHostess Brands up after J.M. The S&P 500 consumer discretionary stocks (.SPLRCD) rose 2.2% to their highest level in a month, leading gains in key S&P 500 sectors. Investors now await the crucial consumer and producer prices data as well as retail sales numbers due later this week. Wall Street had logged weekly losses on Friday after a recent uptick in oil prices and stronger-than-expected economic data fueled concerns of sticky inflation and interest rates staying higher for longer.

Persons: Brendan McDermid, Morgan Stanley, Tesla, Anthony, chipmaker, Ankika Biswas, Shreyashi Sanyal, Shubham Batra, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Qualcomm, Apple Hostess Brands, Dow, Nasdaq, U.S, Apple, Microsoft, Energy, Investors, New York Fed, Traders, FedWatch, Fed, Dow Jones, Nvidia, Hostess Brands, Sunday, NYSE, Thomson Locations: New York City, U.S, megacaps, U.S . Federal, Bengaluru

[1/2] Hostess Brands "Twinkies" are displayed in a store in the Manhattan borough of New York City, U.S. July 5, 2016. Smucker (SJM.N) said on Monday it will buy Twinkies-maker Hostess Brands (TWNK.O) in a $5.6 billion deal, as major U.S. packaged food companies look to expand their brand portfolios with pandemic-era fortunes dwindling. J. M. Smucker will pay Hostess shareholders $34.25 per share in a cash and stock deal, representing a premium of 54% since the day before the report surfaced. Hostess Brands became an acquisition target after it managed to boost its revenue through price hikes that fueled investor concerns over its prospects with its volume growth consistently declining. Smucker and Hostess deal follows a spree of other deals including that of Campbell Soup's (CPB.N) $2.7 billion deal for Rao's sauce maker Sovos Brands (SOVO.O) and Unilever (ULVR.L) buying premium frozen yogurt brand Yasso in North America.

Persons: Brendan McDermid, Smucker, Campbell Soup's, Hostess, Ding Dongs, Dimpal Gulwani, Ananya Mariam Rajesh, Anirban Sen, Savio D'Souza, Shinjini Organizations: REUTERS, Hostess Brands, Reuters, Hostess, Mills Inc, Mondelez, PepsiCo Inc, Hershey Co, Sovos, Unilever, Hos, Thomson Locations: Manhattan, New York City, U.S, North America, Lenexa , Kansas, Ho, Bengaluru, New York

[1/2] Hostess Brands "Twinkies" are displayed in a store in the Manhattan borough of New York City, U.S. July 5, 2016. Smucker (SJM.N) on Monday agreed to buy Twinkies maker Hostess Brands (TWNK.O) for $5.6 billion including debt in a deal that unites two major American snack makers. The deal was worth about $4.6 billion excluding debt, with Jif peanut butter maker Smucker paying Hostess shareholders $34.25 per share. Campbell Soup's (CPB.N) recent acquisition of Rao's sauce maker Sovos Brands (SOVO.O) represented an adjusted EBITDA multiple of 14.6 times, including run rate savings, and 19.8 times excluding those. Based in Lenexa, Kansas, Hostess was founded in 1930 and is behind several iconic household brands, including Ho-Hos, Ding Dongs, Zingers, and Voortman cookies and wafers.

Persons: Brendan McDermid, Smucker, Campbell Soup's, Smucker's, Campbell, Hostess, Ding Dongs, Dean Metropoulos, Alec Gores, Ananya Mariam Rajesh, Anirban Sen, Abigail Summerville, Dimpal, Savio D'Souza, Shinjini Ganguli, Jason Neely Organizations: REUTERS, Hostess Brands, Reuters, Sovos, JPMorgan, Sovos Brands, Hos, Smucker, Apollo Global Management Inc, Hostess, Thomson Locations: Manhattan, New York City, U.S, North America, Lenexa , Kansas, Ho, Bengaluru, New York

Hostess, the maker of snack classics like Twinkies and HoHos, is being sold to J.M. Hostess Brands Inc. shareholders will receive $30 in cash and 0.03002 shares of The J.M. Smucker Co. stock for each share of stock that they own. The rest, including Twinkies and other Hostess cakes, was acquired by Metropoulos & Co. and Apollo, for $410 million. Smucker Co. and Hostess have both approved the deal, which is expected to close in Smucker's fiscal third quarter.

Persons: Andy Callahan, Twinkies, Hostess, XX, Wonder, Leon Black, Carl’s, Chef Boyardee, Bee, Morgan Stanley's Pam Kaufman Organizations: Hostess Brands Inc, Associated Press, Flowers Foods, McKee Foods, Metropoulos, Apollo Global Management, Pabst Brewing Co, Hostess Locations: Smucker, America, , Kansas

☆ Jelly giant J.M. Smucker agrees to buy Twinkie maker Hostess Brands for $5.6 billion
▼ + stars: | 2023-09-11 | by ( Amelia Lucas | ) www.cnbc.com time to read: 1 min

Hostess Twinkies and CupCakes are displayed on a store shelf on May 17, 2021 in San Anselmo, California. Jelly maker J.M. Smucker is buying Twinkie owner Hostess Brands for $5.6 billion, or $34.25 a share. Hostess shareholders will receive $30 in cash and .03002 shares of Smucker's stock for each share of Hostess that they owned. As of Friday's close, shares of Hostess stock have risen 25% this year, giving the company a market value of $3.73 billion.

Persons: Twinkies, J.M, Smucker Organizations: Hostess Brands, Reuters, PepsiCo, Mondelez Locations: San Anselmo , California

☆ Hostess surges 19% after the Twinkie maker agrees to $5.6 billion takeover by JM Smucker
▼ + stars: | 2023-09-11 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Hostess stock climbed roughly 19% Monday, while JM Smucker declined as much as 8%. Jelly company Smucker agreed to acquire the Twinkie maker for $5.6 billion. Hostess investors will receive $30 in cash, and 0.3002 share of Smucker's stock for each share of Hostess they owned. Hostess shareholders will get $30 in cash and 0.03002 share of Smucker stock for every Hostess share they owned. In 2016, the company had gone public via a merger with a special purpose acquisition company.

Persons: JM Smucker, Smucker, Ding Dongs, Hostess, Campbell's Soup Organizations: Service, Hostess, Sovos Brands, Unilever Locations: Wall, Silicon

☆ Bet against America's love for junk food? Morgan Stanley sees tough times ahead for snack stocks like Hostess
▼ + stars: | 2023-09-11 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +3 min

Smucker 's plan to buy Twinkies -maker Hostess Brands is a risky move, if Morgan Stanley's latest research is correct. The firm revisited its August call that a new class of weight loss medications would hamper growth at some food and beverage companies . "Across our coverage, Numerator Insights data highlight that most center-store packaged food companies slightly over-index to consumers with obesity," Kaufman said. Hostess stock soared 19% on the news. Other food stocks with higher exposure to customers with obesity include Conagra , Kraft Heinz and Smucker, the report said, citing the Numerator data.

Persons: Smucker, Morgan Stanley's, Ding Dongs, Morgan Stanley, Pamela Kaufman, Atkins, Nordisk's Wegovy, Kaufman, Kraft Heinz, — CNBC's Michael Bloom Organizations: Hostess Brands, Centers for Disease Control, Nordisk's Locations: U.S, GLP

☆ J.M. Smucker CEO Mark Smucker goes one-on-one with Jim Cramer
▼ + stars: | 2023-09-11 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Smucker CEO Mark Smucker goes one-on-one with Jim CramerJ.M. Smucker Chairman, President and CEO Mark Smucker joins 'Mad Money' host Jim Cramer to talk news that Smucker's is acquiring Hostess Brands for $5.6 billion.

Persons: Mark Smucker, Jim Cramer J.M, Jim Cramer Organizations: Smucker, Hostess Brands

☆ J.M. Smucker CEO: The Hostess deal dovetails nicely as snacking occasions continue to grow
▼ + stars: | 2023-09-11 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJ.M. Smucker CEO: The Hostess deal dovetails nicely as snacking occasions continue to growJ.M. Smucker Chairman, President and CEO Mark Smucker joins 'Mad Money' host Jim Cramer to talk news that Smucker's is acquiring Hostess Brands for $5.6 billion.

Persons: Mark Smucker, Jim Cramer Organizations: Smucker, Hostess Brands

☆ Here's why Jim Cramer likes J.M. Smucker's plan to buy the maker of Twinkies
▼ + stars: | 2023-09-11 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +1 min

Smucker 's (SJM) decision to buy Twinkie maker Hostess Brands (TWNK) in a deal valued at $5.6 billion. "I like the deal, if only just because I like this channel for Smuckers," Cramer said on "Squawk on the Street." Hostess Brands stock, meanwhile, surged nearly 19%, to more than $33 per share. Reuters reported in August that multiple major food brands such as General Mills (GIS) and Oreo owner Mondelez International (MDLZ) had shown interest in acquiring Hostess. Perhaps the "biggest worry" about acquiring Hostess Brands is the increasing popularity of weight-loss drugs known as GLP-1 agonists, and their potential impact on consumer food preferences, Cramer acknowledged.

Persons: CNBC's Jim Cramer, J.M, Smucker, Cramer, Jim Cramer's, Mills, Morgan Stanley, Eli Lilly, — Organizations: Hostess Brands, Reuters, Mondelez, Hostess, Cramer's Charitable Trust, CNBC, Novo Nordisk, Cramer's Charitable Locations: U.S

☆ Smucker CEO on merger with Hostess: 'We complement each other so well'
▼ + stars: | 2023-09-11 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Smucker , discussed his company's acquisition of Twinkie maker Hostess Brands on Monday with CNBC's Jim Cramer. Smucker said this move will help the company expand its snack offerings, noting how the two brands complement each other. Smucker highlighted his company's Uncrustable snack, a crust-less peanut butter and jelly sandwich, as a product that dovetails well with Hostess's shelf-stable sweet treats. Smucker said he's not worried consumers will lose their taste for sweet snacks, even as obesity drugs and emphasis on healthy eating permeate the U.S. zeitgeist. "Hostess has done such a nice job creating single-serve small portions that allow people to have snacking, sweet snacks, in moderation."

Persons: Mark Smucker, Smucker, CNBC's Jim Cramer, We're, he's Organizations: Hostess Brands, CNBC

☆ Cramer's Lightning Round: Stick with Morgan Stanley
▼ + stars: | 2023-09-05 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Westrock Coffee's year-to-date stock performance. Stock Chart Icon Stock chart icon Twilio's year-to-date stock performance. Stock Chart Icon Stock chart icon JM Smucker's year-to-date stock performance. Stock Chart Icon Stock chart icon Alcoa's year-to-date stock performance. Stock Chart Icon Stock chart icon Morgan Stanley's year-to-date stock performance.

Persons: Westrock, JM Smucker's, JM Smucker, Morgan Stanley's, Morgan Stanley, I've, James Gorman's, Morgan, Chernow Organizations: Alcoa

☆ Smucker's has found a return-to-office solution that workers seem to like — in-person work for only 22 weeks a year
▼ + stars: | 2023-08-30 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +5 min

Smucker has an RTO policy that requires workers to be on-site only during 22 "core" weeks. The Smucker model appears to be a hit with workers, who can live anywhere as long as they return for "core" weeks. Amazon's CEO Andy Jassy just told employees it was "past" time to commit to its return-to-office mandate of three days a week. Last week, Goldman Sachs told more of its workers to start coming into the office five days a week. Facebook/JifThe company has about 6,000 employees worldwide, but the "core" weeks program is targeted at the 1,300 corporate workers based at its Orrville headquarters.

Persons: Smucker, Andy Jassy, Goldman Sachs, Zoom, Uncrustables —, didn't, Smucker's, they're, Nicole Massey, Massey, Mark Smucker, Lakshmi Organizations: Service, Wall Street, Employees Locations: Orrville , Ohio, Wall, Silicon, San Francisco, Bay, Akron , Ohio, Lakshmi Varanasi, lvaranasi

☆ J.M. Smucker CEO on earnings, price increases and return to office policy
▼ + stars: | 2023-08-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJ.M. Smucker CEO on earnings, price increases and return to office policyMark Smucker, J.M. Smucker CEO, joins 'Squawk on the Street' to discuss how much appetite there is for price increases in Smucker's business, how Smucker's looking at margins, and much more.

Persons: Mark Smucker

☆ Stocks making the biggest moves premarket: Oracle, AT&T, Best Buy and more
▼ + stars: | 2023-08-29 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Best Buy — Best Buy rose about 1.3% after topping Wall Street's fiscal second-quarter expectations on the top and bottom lines. Heico reported revenue of $723 million for the previous quarter, ahead of the $702 million expected by analysts polled by Refinitiv. Nio — Nio's stock lost more than 6% before the bell after the Chinese electric vehicle company reported a wider-than-expected quarterly loss. The company reported $2.21 in adjusted earnings per share, while analysts were looking for $2.02 per share, according to FactSet's StreetAccount. BYD — The Chinese automaker's U.S.-traded shares rose more than 2% Tuesday premarket, a day after it announced a 204.68% jump in net profit for the first half of 2023.

Persons: Safra Catz, PDD, Heico, FactSet's, BYD, CNBC's Hakyung Kim, Tanaya Macheel, Jesse Pound Organizations: Oracle Corporation, New York Stock Exchange, UBS, Oracle, Verizon —, Verizon, Citi, Refinitiv . Revenue, FactSet . Revenue, PDD Holdings —, Refinitiv, Toyota Motor —, Toyota Motor Locations: U.S, Japan

☆ Why Americans are obsessed with peanut butter
▼ + stars: | 2023-07-14 | by ( Natalie Rice | ) www.cnbc.com time to read: +9 min

Skippy was the leading peanut butter brand in the U.S. until 1980, a title that now belongs to Jif. Pond, that became the first brand to commercially develop peanut butter in 1920, sparking the way we eat peanut butter today. "We've launched certain innovations specifically in Asian markets to help enable that type of cooking use for peanut butter. Domestically, Americans eat an average of 4.25 pounds of peanut butter per capita, a figure that increased temporarily during the Covid-19 pandemic, according to the National Peanut Board. As the family came together in the middle of the day, we saw that it introduced this love and affection for peanut butter to children who will hopefully carry that love and affection for peanut butter into [their] lifetime," he added.

Persons: Skippy, Joseph Rosefield, Peter Pan, Matt Smith, Circana, Costco's Kirkland, Smucker's, Jif, Smith, Rebecca Scheidler, they've, Ryan Christofferson, Christofferson, aren't, they're, Bob Parker, It's, it's, We've, Parker, Domestically, —, Scheidler Organizations: Equity Research, Stifel Financial Corp, Hormel Foods Corp, Post, Holdings, Foods, Hormel Foods, Spam, Unilever, Peanut Board, FDA, Hormel, National Peanut Board Locations: Jif, U.S, Chicago, Smucker, Uncrustables, Longmont , Colorado, McCalla , Alabama, Mexico, Canada, China

☆ S&P 500 first-quarter EPS creeps out of the red, Refinitiv data shows
▼ + stars: | 2023-06-09 | by ( Noel Randewich | ) www.reuters.com time to read: +3 min

Fresh data shows earnings per share for S&P 500 (.SPX) companies were about flat in the first quarter, a major improvement over dour forecasts at the start of the reporting season. Reuters GraphicsWith first-quarter earnings season all but wrapped up, S&P 500 companies are on track for an average increase in earnings per share of 0.03% year over year, according to I/B/E/S data from Refinitiv. Notably, net income for S&P 500 companies fell 2.9% in the first quarter, according to Refinitiv, showing their overall profits actually declined. Smucker (SJM.N) and Campbell Soup Co (CPB.N) were among the companies helping to lift S&P 500 earnings out of negative territory in recent days, with both packaged food sellers reporting EPS above analysts' estimates. While first-quarter earnings have turned out better than expected, analysts on average remain pessimistic about the outlook for earnings, on average predicting a 5.4% drop in EPS in the second quarter, according to Refinitiv.

Persons: Andrew Kelly, Campbell, Noel Randewich, Paul Simao Organizations: Smucker, REUTERS, Reuters Graphics, Federal Reserve, Campbell, Thomson Locations: Manhattan , New York City, U.S, Refinitiv

☆ Stocks making the biggest premarket moves: Mobileye, EPAM Systems, Thor Industries, Apple and more
▼ + stars: | 2023-06-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves in premarket trading. EPAM Systems — The software firm fell 2.9% a day after the company posted second-quarter earnings and revenue guidance that was below analysts' expectations. Thor Industries — Shares surged nearly 10% after the recreational vehicle manufacturer reported an earnings and revenue beat. Smucker — The food products stock gained 1% in premarket trading after J.M. Apple — The iPhone maker dipped less than 1% in premarket trading a day after releasing its Vision Pro mixed-reality headset.

Persons: Amnon Shashua, Patrick Gelsinger, Mobileye, Coinbase, Thor, McCormick, Gitlab, GitLab, Refinitiv, Ferguson —, Ferguson, Smucker, Davidson, Jesse Pound Organizations: Intel, Nasdaq, U.S . Securities, Exchange, SEC, Binance, Systems, Thor Industries, Bank of America, Revenue, Apple, Street, D.A Locations: New York, underperform

☆ Stocks making the biggest moves midday: Coinbase, GitLab, HealthEquity and more
▼ + stars: | 2023-06-06 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

Here are the stocks making the biggest moves in midday trading Tuesday, June 6. Coinbase — Shares of the crypto exchange fell 12% after the U.S. Securities and Exchange Commission sued Coinbase on Tuesday. GitLab reported a 6-cent loss per share, better than the 14-cent loss per share the consensus anticipated, according to Refinitiv. Thor reported earnings of $2.24 per diluted share, while analysts surveyed by FactSet were expecting $1.07 per share. HealthEquity — The stock added about 11.6% the day after the company beat expectations on earnings and gave positive full-year guidance.

Persons: Coinbase, GitLab, Refinitiv, Thor, FactSet, Zions Bancorporation, KeyCorp, McCormick, Smucker, —, Alex Harring, Yun Li, Samantha Subin Organizations: U.S . Securities, Exchange Commission, SEC, Industries, Thor Industries, Comerica, KeyCorp, Regional Bank ETF, Bank of America, VF Corp, — Locations: KeyCorp —, California

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