Trillion

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<p class="has-drop-cap">In a volatile day of trading, three notable stocks are making headlines for vastly different reasons. The J.M. Smucker Company (NYSE: SJM) has <a href="https://www.morningstar.com/news/marketwatch/20240828261/smucker-beats-profit-estimate-but-lowers-full-year-earnings-view" target="_blank" aria-label="slashed its annual outlook (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">slashed its annual outlook</a> amid inflationary pressures, while Super Micro Computer (NASDAQ: SMCI) is reeling from a short-seller report and <a href="https://www.bloomberg.com/news/articles/2024-08-28/super-micro-to-delay-10-k-on-assesment-of-reporting-controls" target="_blank" aria-label="delayed financial filing (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">delayed financial filing</a>. Meanwhile, Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A) has achieved a historic milestone, becoming the first non-tech company to <a href="https://www.business-standard.com/world-news/warren-buffett-s-berkshire-hathaway-tops-1-trillion-in-market-value-124082801230_1.html" class="deco-link" target="_blank" rel="noopener noreferrer nofollow">reach a trillion-dollar market capitalization</a>.</p>
<h3 id="j-m-smucker-company-sjm-cuts-outlook-for-fiscal-year-2025">J.M. Smucker Company (SJM) Cuts Outlook for Fiscal Year 2025</h3>
<p>J.M. Smucker, the maker of Jif peanut butter and Folgers coffee, has cut its annual sales and profit forecasts for fiscal year 2025, citing cost-conscious consumers switching to lower-priced alternatives amid persistent inflation. <br><br>As of 11:09 AM EDT, SJM shares were trading at $113.80, down 5.72% for the day. Despite beating quarterly profit estimates with earnings of $2.44 per share against an expected $2.17, the company’s outlook revision has spooked investors. SJM now projects annual net sales growth of 8.5% to 9.5%, down from its previous forecast of 9.5% to 10.5%. <br><br>The company also plans a second price increase across its coffee portfolio in early October due to rising green coffee costs.</p>
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<h3 id="super-micro-computer-smci-continues-to-drop">Super Micro Computer (SMCI) Continues to Drop</h3>
<p>SMCI shares plummeted 25.38% to $408.64 following a one-two punch of negative news. The company, which had been riding high on AI-related demand earlier this year, announced a delay in filing its annual 10-K report with the SEC. <br><br>This news came on the heels of a critical report from short-seller Hindenburg Research, which accused SMCI of accounting manipulation and other irregularities based on a three-month investigation. Despite the day’s losses, SMCI still boasts a year-to-date return of 44.04%, significantly outpacing <a href="https://tokenist.com/investing/spx-vs-spy/" rel="noopener noreferrer nofollow" class="deco-link">the S&amp;P 500</a>‘s 17.52% gain over the same period.</p>
<h3 id="berkshire-hathaway-brk-a-crosses-1-trillion-in-market-cap">Berkshire Hathaway (BRK-A) Crosses $1 Trillion in Market Cap.</h3>
<p>In a historic moment for the conglomerate led by legendary investor Warren Buffett, Berkshire Hathaway became the first U.S. company outside the tech sector to surpass $1 trillion in market value. BRK-A shares were trading at $698,857.19, up 1.09% for the day, as of 11:09 AM EDT. <br><br>The milestone comes as Berkshire’s stock has rallied 30% in 2024, outpacing the S&amp;P 500’s 18% gain. With a diverse portfolio spanning insurance, energy, railroads, and consumer goods, Berkshire’s ascent to <a href="https://tokenist.com/the-3-trillion-club-only-has-3-stocks-which-one-is-likely-to-break-4-trillion-first/" rel="noopener noreferrer nofollow" class="deco-link">the trillion-dollar club</a> underscores the enduring appeal of Buffett’s value-focused investment strategy in an era often dominated by high-flying tech stocks.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em><br></p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/stocks-to-watch-today-sjm-berkshire-hathaway-and-smci/">Stocks to Watch Today: SJM, Berkshire Hathaway, and SMCI</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Stocks to Watch Today: SJM, Berkshire Hathaway, and SMCI

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