Conagra Brands (NYSE:CAG) Stock, Quote.Headers.trade-ideas

Conagra Brands

Conagra Brands is a packaged food company that operates predominantly in the United States (over 90% of fiscal 2024 revenue). Most of its revenue comes from frozen food, including brands like Marie Callender's, Healthy Choice, Banquet, and Birds Eye. Conagra also sells snacks, shelf-stable staples, and refrigerated food through brands like Duncan Hines, Hunt's, Slim Jim, Vlasic, Orville Redenbacher's, Reddi-wip, Wish-Bone, and Chef Boyardee. The company primarily sells through the US retail channel, with just 9% of fiscal 2024 revenue coming from international markets and 10% from foodservice.

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Conagra Brands, Inc. (NYSE: CAG) delivered fourth-quarter fiscal 2024 results, wherein the bottom and top lines declined year over year and the latter missed the Zacks Consensus Estimate. The company continued to witness challenging industry trends, including a slowdown in consumption.

Conagra Q4 Earnings Top Despite Soft Consumption Trends

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ConAgra Analysts Slash Their Forecasts Following Weak Sales

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Why ConAgra Brands Shares Are Trading Lower? Here Are Other Stocks Moving In Thursday&#39;s Mid-Day Session

Conagra Brands Inc

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California Grapes International Inc

CASTLE GROUP INC UTAH by Castle Group, Inc. (THE)

Castle Group Inc

Barclays analyst Andrew Lazar maintains Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) with a Overweight and lowers the price target from $34 to $33.

Barclays Maintains Overweight on Conagra Brands, Lowers Price Target to $33

Conagra Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cag#NYSE">CAG</a>) delivered fourth-quarter fiscal 2024 results, wherein the bottom and top lines declined year over year and the latter missed the Zacks Consensus Estimate. The company continued to witness challenging industry trends, including a slowdown in consumption. Shares of the company lost more than 2% in the pre-market trading session on Jul 11.
However, Conagra&#39;s strategic investments in brands have proven effective, leading to volume improvements in its Domestic Retail business, especially in the key Frozen and Snacks categories. Furthermore, the company&#39;s supply chain productivity efforts supported the expansion of adjusted gross margins. Management anticipates a gradual easing of the difficult industry trends as consumers adapt and set new reference prices.
<h3>Quarter in Detail</h3>
Conagra&#39;s quarterly adjusted earnings per share came in at 61 cents, which beat the Zacks Consensus Estimate of 56 cents. The bottom line declined 1.6% year over year.
<div class="chart_embed">
<h3>Conagra Brands Price, Consensus and EPS Surprise</h3>
<h3><img alt="Conagra Brands Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/ab/1720707637.png" style="height:265px; width:576px" title="" /></h3>
Conagra Brands price-consensus-eps-surprise-chart | Conagra Brands Quote
The company generated net sales of $2,905.9 million, which declined 2.3% year over year and missed the Zacks Consensus Estimate of $2,939 million. The top line included a 0.1% positive impact of currency movements.
Organic net sales decreased 2.4% year over year due to a 1.8% drop in volumes, which stemmed from the continuation of the slowdown in consumption. Also, the price/mix had a 0.6% adverse impact on organic sales as a result of elevated strategic investments. Our model suggested an organic sales decline of 1.4% and a volume decline of 1.2% for the fourth quarter.
The adjusted gross profit remained flat year over year at $803 million. The adjusted gross margin improved 62 basis points (bps) to 27.6%. This was due to higher productivity, which more than offset the adverse impacts of lower organic net sales, cost of goods sold inflation and adverse operating leverage. We had expected the adjusted gross margin to expand 40 bps to 27.4%.
Adjusted SG&amp;A expenses, excluding advertising and promotional costs, remained flat year over year at $300 million.
Adjusted EBITDA (including equity method investment earnings and the pension and post-retirement non-service income) came in at $577 million, down from the $594.2 million recorded in the year-ago period.
</div>
<h3>Segmental Details</h3>
Grocery &amp; Snacks: Quarterly net sales in the segment came in at $1,174.7 million, down 2.1% year over year. Organic sales also fell 2.1% due to a 3.6% drop in volumes, while the price/mix rose 1.5%. During the quarter, CAG saw unit share gains in snacking categories like microwave popcorn and seeds, and some staple categories like chili and cooking sprays.
Refrigerated &amp; Frozen: Net sales and organic sales declined 3.8% year over year to $1,173 million. Our model suggested a 4% decline in net sales and organic sales for the quarter under review. The price/mix fell 4.7%, with volumes up 0.9%. The company saw unit share gains in frozen sides, frozen single-serve meals and frozen vegetables.
International: Net sales advanced 6.4% year over year to $266.8 million, reflecting improved organic net sales (up 4.3%) and positive currency effects (2.1%). Organic sales growth was driven by the price/mix (which climbed 0.2%) and volumes (which rose 4.1% due to strength in Mexico and global exports business).
Foodservice: Reported and organic sales declined 3.9% year over year to $291.4 million. The price/mix improved 6.4%, whereas volumes declined 10.3% on account of the ongoing effects of previously unveiled lost business, along with the current sluggishness in restaurant traffic.
<h3>Other Updates</h3>
The company exited the quarter with cash and cash equivalents of $77.7 million, senior long-term debt (excluding current installments) of $7,492.6 million, and total stockholders&#39; equity of $8,511.3 million.
In fiscal 2024, Conagra generated $2 billion as net cash flows from operating activities, with capital expenditures amounting to $388 million. The company generated a free cash flow of $1.6 billion in the fiscal year.
In fiscal 2024, Conagra paid dividends worth $659 million. Following the fourth-quarter end, management announced the continuation of its dividend rate of $1.40 per share. The company will pay a quarterly dividend of 35 cents per share on Aug 29, 2024, to shareholders of record as of Aug 1.
<h3>Guidance</h3>
For fiscal 2025, organic net sales growth is anticipated to be in the range of 1.5% decline to flat. The adjusted operating margin is expected to be between 15.6% and 15.8%.
Management envisions an adjusted EPS in the range of $2.60-$2.65 in fiscal 2025 compared with $2.67 recorded in fiscal 2024.
For fiscal 2025, the net leverage ratio is anticipated to be nearly 3.2X. Capital expenditure is likely to be $500 million, interest expenses are expected to be $415 million, and the adjusted effective tax rate is forecasted to be 23.5%.
Shares of the Zacks Rank #3 (Hold) company have lost 0.5% in the past six months compared with the industry&#39;s decline of 6.2%.
<h3>Better-Ranked Food Bets</h3>
Vital Farms Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vitl#NASDAQ">VITL</a>) offers a range of produced pasture-raised foods. It currently sports a Zacks Rank #1 (Strong Buy). VITL has a trailing four-quarter average earnings surprise of 102.1%.
The Zacks Consensus Estimate for Vital Farms&#39; current financial-year sales and earnings indicates growth of 22.6% and 62.7%, respectively, from year-ago reported numbers.
Freshpet, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frpt#NASDAQ">FRPT</a>), a pet food company, has a trailing four-quarter earnings surprise of 118.2%, on average. FRPT currently sports a Zacks Rank #1.
The Zacks Consensus Estimate for Freshpet&#39;s current financial-year sales and earnings indicates growth of 24.8% and 177.1%, respectively, from the prior-year reported level.
Utz Brands Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/utz#NYSE">UTZ</a>), which manufactures a diverse range of salty snacks, currently carries a Zacks Rank #2 (Buy). UTZ has a trailing four-quarter earnings surprise of 2%, on average.&nbsp;
The consensus estimate for Utz Brands&#39; current financial-year earnings indicates growth of 26.3% from year-ago reported numbers.
<a href="https://www.zacks.com/stock/news/2300258/conagra-cag-q4-earnings-top-despite-soft-consumption-trends?cid=CS-BENZ-FT-analyst_blog|earnings_article-2300258">To read this article on Zacks.com click here.</a>

RBC Capital analyst Nik Modi maintains Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) with a Sector Perform and lowers the price target from $30 to $29.

RBC Capital Maintains Sector Perform on Conagra Brands, Lowers Price Target to $29

Conagra Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) reported worse-than-expected fourth-quarter sales results and issued FY25 adjusted EPS guidance below estimates.
The company reported adjusted earnings per share of 61 cents, beating the analyst consensus estimate of 57 cents. Quarterly revenues of $2.905 billion missed the street view of $2.930 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
"Looking ahead, we expect a gradual waning of the challenging industry trends seen throughout fiscal year 2024, as consumers adapt and establish new reference prices," said Sean Connolly, president and chief executive officer.
ConAgra approved the continuation of the company's annualized dividend rate of $1.40 per share. The company's quarterly dividend payment of $0.35 per share will be paid on August 29 to stockholders of record as of the close of business on August 1.
ConAgra said sees FY25 organic net sales to be down 1.5% to flat compared to fiscal 2024 and adjusted EPS between $2.60 and $2.65 versus the $2.63 estimate. The company's FY25 adjusted operating margin is expected between 15.6% and 15.8%. The company also expects the cost of goods sold inflation to continue into fiscal 2025.
ConAgra shares fell 1.5% to close at $28.38 on Thursday.
These analysts made changes to their price targets on ConAgra after the company reported quarterly results.
<ul>
<li>Stifel analyst Matthew Smith maintained Conagra Brands with a Hold and lowered the price target from $32 to $30.</li>
<li>Evercore ISI Group analyst David Palmer maintained Conagra Brands with a Neutral and slashed the price target from $32 to $31.</li>
</ul>
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Evercore ISI Group analyst David Palmer maintains Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) with a Neutral and lowers the price target from $32 to $31.

Evercore ISI Group Maintains Neutral on Conagra Brands, Lowers Price Target to $31

Stifel analyst Matthew Smith maintains Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) with a Hold and lowers the price target from $32 to $30.

Stifel Maintains Hold on Conagra Brands, Lowers Price Target to $30

Shares of Conagra Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) fell during Thursday's session after the company reported worse-than-expected fourth-quarter sales results and issued FY25 adjusted <a href="https://www.benzinga.com/news/earnings/24/07/39728345/conagra-falls-short-on-q4-revenue-amid-unfavorable-price-mix">EPS guidance below estimates</a>.
The company reported adjusted earnings per share of 61 cents, beating the analyst consensus estimate of 57 cents. Quarterly revenues of $2.905 billion missed the street view of $2.930 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Conagra Brands shares declined 3.9% to $27.70 on Thursday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Kazia Therapeutics Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KZIA#NASDAQ">KZIA</a>) shares surged 88.6% to $1.26. Kazia Therapeutics, on Wednesday, announced results from GBM-AGILE, a phase II/III study that included an evaluation of paxalisib versus standard of care for patients with glioblastoma.</li>
<li>Biodexa Pharmaceuticals Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BDRX#NASDAQ">BDRX</a>) shares jumped 78.6% to $1.2698 after the company reported 12-month Phase 2 trial results for eRapa in treating Familial Adenomatous Polyposis.</li>
<li>Volcon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLCN#NASDAQ">VLCN</a>) climbed 68.2% to $6.13 in response to a series of buy-sell transactions by UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>).</li>
<li>iSpecimen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPC#NASDAQ">ISPC</a>) jumped 48% to $0.4241.</li>
<li>Renalytix Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNLX#NASDAQ">RNLX</a>) gained 35% to $0.4125 after the company announced a collaboration with the Steno Diabetes Center, Copenhagen, to advance translation of precision medicine solutions for patients with Diabetes and Chronic Kidney Disease.</li>
<li>Blue Star Foods Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSFC#NASDAQ">BSFC</a>) shares rose 33.6% to $2.2450 after declining around 5% on Wednesday.</li>
<li>Cyngn Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYN#NASDAQ">CYN</a>) gained 32.5% to $5.25. Cyngn announced the expansion of its dealer network to include Alta Equipment Group.</li>
<li>Methode Electronics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEI#NYSE">MEI</a>) shares rose 29.4% to $12.22 after the company reported better-than-expected fourth-quarter sales results.</li>
<li>QuantumScape Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>) gained 25% to $6.76 after the company announced it entered into an agreement with PowerCo to industrialize solid-state batteries.</li>
<li>Terns Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TERN#NASDAQ">TERN</a>) jumped 18.2% to $8.63.</li>
<li>SoundHound AI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOUN#NASDAQ">SOUN</a>) rose 16.7% to $5.92. SoundHound AI recently announced that its ChatGPT-integrated voice assistant is now live and in production in Peugeot, Opel and Vauxhall vehicle brands in Europe.</li>
<li>LL Flooring Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LL#NYSE">LL</a>) jumped 15.4% to $0.7850.</li>
<li>Astrana Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTH#NASDAQ">ASTH</a>) gained 11.2% to $42.47. Truist Securities analyst Jailendra Singh upgraded Astrana Health from Hold to Buy and raised the price target from $44 to $50.</li>
<li>IGM Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IGMS#NASDAQ">IGMS</a>) shares rose 10.8% to $7.76.</li>
<li>Ribbon Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RBBN#NASDAQ">RBBN</a>) climbed 10.8% to $3.60 after Rosenblatt initiated coverage on the stock with a Buy rating and announced a $5 price target.</li>
<li>OKYO Pharma Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKYO#NASDAQ">OKYO</a>) gained 10.2% to $1.3003 as the company announced plans to initiate neuropathic corneal pain trial for OK-101.</li>
<li>Actelis Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASNS#NASDAQ">ASNS</a>) shares rose 9.7% to $1.72 after the company announced it received a significant order valued at $260,000 to modernize the traffic systems in a major Mid-Atlantic county in the United States.</li>
<li>NaaS Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAAS#NASDAQ">NAAS</a>) shares gained 8.4% to $5.07 after surging 44% on Wednesday.</li>
<li>Lantheus Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNTH#NASDAQ">LNTH</a>) rose 8.2% to $114.89. Leerink Partners maintained Lantheus with an Outperform and raised the price target from $106 to $127.</li>
<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) rose 8% to $1,410.01 after the company announced a 10-for-1 stock split.</li>
<li>Virpax Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRPX#NASDAQ">VRPX</a>) rose 7.6% to $1.8307.</li>
<li>Pool Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POOL#NASDAQ">POOL</a>) gained 6.6% to $318.49.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Inspire Veterinary Partners, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IVP#NASDAQ">IVP</a>) dipped 28.1% to $5.32 after jumping 110% on Wednesday. Inspire Veterinary Partners announced the closing of $6 million public offering.</li>
<li>Cingulate Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CING#NASDAQ">CING</a>) fell 25% to $0.4862 after gaining 74% on Wednesday.</li>
<li>Crown LNG Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGBS#NASDAQ">CGBS</a>) dipped 18.6% to $2.5102.</li>
<li>Telesis Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBIO#NASDAQ">TBIO</a>) declined 18.2% to $3.5736.</li>
<li>Boqii Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BQ#NYSE">BQ</a>) dipped 17.6% to $0.4271.</li>
<li>TuanChe Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TC#NASDAQ">TC</a>) shares fell 17.5% to $1.5996.</li>
<li>Clene Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLNN#NASDAQ">CLNN</a>) fell 15.7% to $4.7350. Clene announced plans to submit briefing book to the U.S. FDA in connection with granted Type C interaction to obtain FDA feedback on potential pathway to accelerated approval for CNM-Au8 in ALS.</li>
<li>E2open Parent Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETWO#NASDAQ">ETWO</a>) declined 15.7% to $3.72 after the company reported worse-than-expected first-quarter sales results.</li>
<li>uniQure N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QURE#NASDAQ">QURE</a>) dipped 14.2% to $8.68. The company recently announced updated interim data including up to 24 months of follow-up data from 29 treated patients enrolled in the ongoing U.S. and European Phase I/II clinical trials of AMT-130 for the treatment of</li>
<li>Longeveron Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGVN#NASDAQ">LGVN</a>) shares fell 9.4% to $4.1191. Longeveron shares jumped over 58% on Wednesday after the company announced that the FDA granted Regenerative Medicine Advanced Therapy designation to Lomecel-B for the treatment of mild Alzheimer&#8217;s Disease.</li>
<li>ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) dipped 9% to $18.06.</li>
<li>Innovative Eyewear, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUCY#NASDAQ">LUCY</a>) fell 8% to $0.4210 after gaining over 20% on Wednesday.</li>
<li>BRC Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRCC#NYSE">BRCC</a>) fell 7.7% to $4.9850.</li>
<li>Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) fell 7.1% to $43.56 after the company posted downbeat second-quarter earnings and issued lower-than-expected third-quarter earnings outlook.</li>
<li>American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) declined 6.2% to $10.45 in sympathy with Delta, which fell after reporting mixed quarterly earnings.</li>
<li>United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) fell 5.5% to $44.58 in sympathy with Delta, which fell after reporting mixed quarterly earnings.</li>
<li>Celestica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLS#NYSE">CLS</a>) fell 5.4% to $58.18. Celestica is expected to release second quarter financial results on Wednesday, July 24.</li>
</ul>
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Why ConAgra Brands Shares Are Trading Lower? Here Are Other Stocks Moving In Thursday's Mid-Day Session

A lower-than-expected inflation report for June caused wild market reactions, leading to a surge in traders&#8217; expectations of Federal Reserve rate cuts and boosting assets that are particularly <a href="https://www.benzinga.com/markets/asia/24/07/39733667/inflation-data-sparks-rush-for-gold-real-estate-treasuries-yen-traders-see-september-rate-cut-as-don">sensitive to high interest rates.</a>
As the annual inflation rate slowed from 3.3% to 3%, below the predicted 3.1%, and the monthly reading indicated the first contraction (-0.1%) in four years, traders swiftly increased their odds of a September rate cut, now placing a 92% chance.
Surprisingly, large-cap indices such as the S&amp;P 500 and the tech-heavy Nasdaq 100 index fell, dropping 0.9% and 2.1% respectively, with the latter eyeing its worst daily performance of 2024, previously seen on April 30. These reactions suggest that market participants had likely already priced in rate cut expectations into tech stock valuations and are now rotating from top-performing sectors to laggards.
The outperformance of the S&amp;P 500 real estate sector over tech by more than 5 percentage points marked the largest one-day relative change in over four years, indicating a potential sectoral shift.
Other assets making significant moves included small caps, with the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) up 3.3%, its strongest one-day return since mid-December 2023; gold, up 1.7%; and long-dated Treasury bonds, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rallying 1.5%.
Equity industries showing notable growth were those positively impacted by the prospects of lower interest rates. Homebuilders, tracked by the SPDR Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>), were up 6.7% for the day, their strongest one-day performance since mid-December 2023. Regional banks, represented by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), rose 3.4%. Gold miners, tracked by the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), climbed 2.4%, on track for their highest close since April 2022.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was flat at $57,800. 
<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,120.27</td>
<td>3.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,754.72</td>
<td>0.1 %</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,583.95</td>
<td>-0.9%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,246.76</td>
<td>-2.1%</td>
</tr>
</tbody>
</table>
</figure>
Updated at 1:05 PM ET
According to&nbsp;<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent100924&amp;t=be2bearmibe3na1">Benzinga Pro&nbsp;data</a>:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.9% lower to $556.201.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.1% higher to $397.59.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) tumbled 2.1% to $492.83.</li>
<li>Sector-wise, the&nbsp;Real Estate&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)&nbsp;outperformed, up by 2.5%, while the&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, falling 2.4%.</li>
</ul>
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
<ul>
<li>Tesla Inc. (TSLA) fell over 6%, after Bloomberg flagged delays in the Robitaxi project. </li>
<li>Top-performers within real estate stocks were Communications Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBA#NYSE">SBA</a>) Alexandria Real Estate Equities, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARE#NYSE">ARE</a>), both up 6.5%. </li>
<li>PepsiCo Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NYSE">PEP</a>) was 0.4% higher, following quarterly earnings. </li>
<li>Other stocks reacting to earnings were Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), ConAgra Brands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>), up 0.4% and down 2% respectively. </li>
<li>Caesars Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) rose 6.7%. </li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/07/39733667/inflation-data-sparks-rush-for-gold-real-estate-treasuries-yen-traders-see-september-rate-cut-as-don">Inflation Data Sparks Rush For Gold, Real Estate, Treasuries, Yen: Traders See September Rate Cut As Done Deal</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Large Cap

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Broad U.S. Equity ETFs

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Economics

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$BTC

SPDR Dow Jones Industrial Average ETF Trust

Market Vectors ETF Trust Market Vectors Gold Miners

iShares Trust Barclays 20+ Year Treasury Bond Fund

XLRE

Tech Stocks Tumble As Small Caps, REITs, Gold Miners Rally; Soft June Inflation Ignites Rate Cut Expectations: What's Driving Markets Thursday?

To gain an edge, this is what you need to know today.
<img alt="" src="https://thearorareport.com/wp-content/uploads/2024/07/2024-07-11_08h38_48.png" style="height:382px; width:700px" />
<h3>Cooler CPI</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-inflation-turns-negative-spy-mc-07112024">click here</a> for an enlarged chart of SPDR S&amp;P 500 ETF Trust (ARCA:SPY) which represents the benchmark stock market index S&amp;P 500 (SPX).
Note the following:
<ul>
<li>The chart shows that the stock market is making a new high.</li>
<li>The chart shows that the new high is on low volume, indicating a lack of conviction.</li>
<li>The chart shows the stock market running up after the release of Consumer Price Index (CPI).&nbsp;Futures were negative before the release of CPI but moved higher after the release of CPI.</li>
<li>CPI data is cooler than expected. Here are the details:
<ul>
<li>Headline CPI came at -0.1% vs. 0.1% consensus.&nbsp;This is the lowest since 2020.</li>
<li>Core CPI came at 0.1% vs. 0.2% consensus.</li>
</ul>
</li>
<li>Initial jobless claims came at 222K vs. 234K consensus. This indicates that the economy is staying strong.&nbsp; Initial jobless claims is a leading indicator and carries heavy weight in our adaptive <a href="https://thearorareport.com/ALLOCATION%2BMODELS.htm">ZYX Asset Allocation Model</a> with inputs in <a href="https://thearorareport.com/unique-zyx-asset-allocation-4/">ten categories</a>.&nbsp;In plain English, adaptiveness means that the model changes itself with market conditions.&nbsp;Please <a href="https://thearorareport.com/unique-zyx-asset-allocation-3/">click here</a> to see how this is achieved.</li>
<li>In The Arora Report analysis, the probability of a rate cut in July is 40%.&nbsp;The probability of a rate cut in September is now 75%.&nbsp;&nbsp;</li>
<li>In The Arora Report analysis, prudent investors need to be aware of two risks in the face of extreme bullish sentiment:
<ul>
<li>A rate cut can lead to euphoria.&nbsp; If euphoria occurs, prudent investors will need to be more tactical and enter more short term trades as euphorias tend to end in crashes.&nbsp;&nbsp;</li>
<li>Prudent investors also need to be cognizant of a possible &lsquo;sell the news&rsquo; reaction.&nbsp;Investors have been running up the stock market on hopes of a rate cut.&nbsp;There is a fair probability that smart money may start selling on a rate cut to lock in the gains.&nbsp;</li>
</ul>
</li>
<li>Earnings season starts today.
<ul>
<li>Conagra Brands Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cag#NYSE">CAG</a>), PepsiCo Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pep#NASDAQ">PEP</a>), and Delta Air Lines, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dal#NYSE">DAL</a>) kicked off earnings season.&nbsp; Taken together, earnings, revenues, and projections, are below whisper numbers for all three.</li>
<li>Tomorrow will bring important bank earnings from JPMorgan Chase &amp; Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>), Citigroup Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/c#NYSE">C</a>), and Wells Fargo &amp; Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wfc#NYSE">WFC</a>).&nbsp;Expectations are very high.</li>
<li>An important earning tomorrow is from Fastenal Co (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fast#NASDAQ">FAST</a>).&nbsp;Fastenal earnings are a good indication of spending on construction and infrastructure.</li>
</ul>
</li>
<li>Producer Price Index (PPI) will be released tomorrow at 8:30am ET.&nbsp;Investors will use PPI as confirmation of falling inflation.</li>
<li>University of Michigan consumer sentiment will be released tomorrow at 10am ET.&nbsp;Consumer sentiment is important because for about 80% of consumers, liquidity has dried up.</li>
<li>As an actionable item, the sum total of the foregoing is in the protection band, which strikes the optimum balance between various crosscurrents.&nbsp;Please scroll down to see the protection band. The protection band is one of the large number of unique edges that are available to members of The Arora Report.</li>
</ul>
<h3>China</h3>
Yesterday, we shared with you that the momo crowd was aggressively buying Taiwan Semiconductor Mfg. Co. Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tsm#NYSE">TSM</a>) on AI euphoria, oblivious to the China risk.&nbsp; Prudent investors need to be aware that China just sent 56 aircraft, the most ever, across a key boundary line with Taiwan.&nbsp; The purpose seems to be to intimidate Taiwan into submission and warn the U.S. of China&rsquo;s military might.&nbsp;&nbsp;
China has put in place more short selling restrictions to help the Chinese stock market run up.
<h3>Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>),&nbsp;Microsoft Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>), NVIDIA Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>), and Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>).
In the early trade, money flows are negative in Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>), Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>), and Alphabet Inc Class C (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>).
In the early trade, money flows are positive in SPDR S&amp;P 500 ETF Trust (ARCA:SPY) and Invesco QQQ Trust Series 1 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>).
<h3>Momo Crowd And Smart Money In Stocks</h3>
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
<h3>Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is seeing buying after the release of CPI.
<h3>Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp;The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp;A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp;When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h3>Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of seven year duration or less.&nbsp;Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Asia

General

AAPL

AMZN

FAST

GOOG

MSFT

NVDA

TSLA

Don't Ignore China Risk If You Are Caught Up In AI Frenzy, Euphoria Builds On Cooler CPI $2400 Gold

Conagra Brands Exec Says Expect Q1 Volumes To Improve Sequentially But They Are Still Going To Be Down Year On Year

WIIM

ConAgra Brands shares are trading lower after the company reported worse-than-expected Q4 sales results.

CORRECTION: Conagra Brands Expects FY25 Organic Net Sales Of (1.5)% To Flat; Adjusted EPS Of $2.60 - $2.65 Vs $2.63 Estimate

ConAgra Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) shares are trading lower on Thursday after the<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener"> fourth-quarter results were reported.</a>
The company reported adjusted earnings per share of 61 cents, beating <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39726306/conagra-brands-reports-fourth-quarter-results-and-quarterly-dividend" rel="noreferrer noopener">the analyst consensus estimate of 57 cents</a>. Quarterly revenues of $2.905 billion missed the street view of $2.930 billion.
The company&#8217;s reported net sales decreased by 2.3% and <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">organic net sales decreased by 2.4%.</a>
ConAgra said that the&nbsp;decrease was driven by a 0.6% negative impact from price/mix, largely due to the company&#8217;s strategic investments in the quarter, and a 1.8% decrease in volume, primarily due to continued lower consumption trends.
Also See: <a target="_blank" href="https://www.benzinga.com/news/24/04/38142749/food-giants-pivot-to-discounts-and-new-sizes-amid-decreased-spending-by-low-income-americans" rel="noreferrer noopener">Food Giants Pivot To Discounts And New Sizes Amid Decreased Spending by Low-Income Americans</a>
Gross margin increased 135 basis points to 27.7% in the quarter, and adjusted gross margin increased 62 basis points to 27.6%.
Adjusted EBITDA, which includes equity method investment earnings and pension and postretirement non-service income, was&nbsp;$577 million&nbsp;in the quarter, ConAgra added.
The company ended the year with net debt of&nbsp;$8.4 billion, representing an 8.5% reduction in net debt versus the prior year, resulting in a 3.37x net leverage ratio at fiscal year-end.
&#8220;Looking ahead, we expect a gradual waning of the challenging industry trends seen throughout fiscal year 2024, as consumers adapt and establish new reference prices,&#8221; said Sean Connolly, president and chief executive officer.
Dividend: ConAgra approved the continuation of the company&#8217;s annualized dividend rate of&nbsp;$1.40&nbsp;per share.
The company&#8217;s quarterly dividend payment of&nbsp;$0.35&nbsp;per share will be paid on&nbsp;August 29 to stockholders of record as of the close of business on&nbsp;August 1.
Outlook: ConAgra sees FY25 organic net sales to be down 1.5% to flat compared to fiscal 2024 and adjusted EPS between&nbsp;$2.60&nbsp;and<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> $2.65 versus the $2.63 estimate.</a>
The company&#8217;s FY25 adjusted operating margin is expected between 15.6% and 15.8%. The company also expects the cost of goods sold inflation to continue into fiscal 2025.
Price Action: CAG shares are trading lower by 2.43% to $28.11 premarket at last check Thursday.
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39727305/biden-administration-injects-1-7b-into-ev-manufacturing-facilities-of-general-motors-stellantis-" target="_blank" rel="noreferrer noopener">Biden Administration Injects $1.7B into EV Manufacturing Facilities Of General Motors, Stellantis &amp; More</a></li>
</ul>

Equities

ConAgra Falls Short On Q4 Revenue Amid Unfavorable Price Mix

U.S. stock futures were lower this morning, with the Dow futures falling over 50 points on Thursday.
Shares of Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) fell sharply in today's pre-market trading after the company posted downbeat second-quarter earnings and issued lower-than-expected <a href="https://www.benzinga.com/quote/DAL/earnings">third-quarter earnings outlook</a>.
Delta Air Lines reported quarterly earnings of $2.36 per share which missed the analyst consensus estimate of $2.37 per share. The company reported quarterly sales of $16.658 billion which beat the analyst consensus estimate of $15.452 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Delta Air Lines shares fell 9% to $42.65 in the pre-market trading session.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Newegg Commerce Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEGG#NASDAQ">NEGG</a>) shares dipped 9.1% to $1.00 in pre-market trading after declining 5% on Wednesday. Newegg Commerce, on Monday, announced that the presale for its tenth annual FantasTech Sales event is now live.</li>
<li>Sage Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) declined 7.1% to $10.25 in pre-market trading after declining around 4% on Wednesday.</li>
<li>LiveWire Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LVWR#NASDAQ">LVWR</a>) shares fell 6.8% to $7.00 in pre-market trading. LiveWire Group is expected to release its second quarter financial results before the opening bell Thursday, July 25.</li>
<li>Uxin Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UXIN#NASDAQ">UXIN</a>) fell 5.5% to $1.72 in pre-market trading. Uxin recently announced a partnership with Zhengzhou Airport Industry for the launch of a new used car superstore.</li>
<li>ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) shares declined 5.1% to $18.81 in pre-market trading.</li>
<li>United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) fell 4.8% to $44.85 in pre-market trading in sympathy with Delta, which fell after reporting mixed quarterly earnings.</li>
<li>American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) declined 4.1% to $10.69 in pre-market trading in sympathy with Delta, which fell after reporting mixed quarterly earnings.</li>
<li>BW LPG Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BWLP#NYSE">BWLP</a>) shares slipped 4% to $17.43 in pre-market trading.</li>
<li>Evotec SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVO#NASDAQ">EVO</a>) fell 3.7% to $5.02 in pre-market trading. On Wednesday, Evotec and Pfizer disclosed a multi-year collaboration for early drug discovery.</li>
<li>Conagra Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) declined 3% to $27.97 in pre-market trading after the company reported worse-than-expected fourth-quarter sales results and issued FY25 adjusted EPS guidance below estimates.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39708384/top-3-tech-stocks-that-could-blast-off-in-july">Top 3 Tech Stocks That Could Blast Off In July</a></li>
</ul>

Pre-Market Outlook

BWLP

LVWR

NEGG

SAGE

UXIN

Delta Air Lines Posts Downbeat Earnings, Joins United Airlines, American Airlines And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

Conagra Brands Expects Cost Of Goods Sold Inflation To Continue Into FY25

Conagra Brands Expects Gradual Waning Of Challenging Industry Trends Seen Throughout FY24

Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) reported quarterly earnings of $0.61 per share which beat the analyst consensus estimate of $0.57 by 7.02 percent. This is a 1.61 percent decrease over earnings of $0.62 per share from the same period last year. The company reported quarterly sales of $2.905 billion which missed the analyst consensus estimate of $2.930 billion by 0.85 percent. This is a 2.29 percent decrease over sales of $2.973 billion the same period last year.

Earnings Misses

Conagra Brands Q4 2024 Adj EPS $0.61 Beats $0.57 Estimate, Sales $2.905B Miss $2.930B Estimate

The CNN Money Fear and Greed index showed an improvement in overall market sentiment, with the index moving to the &#8220;Greed&#8221; zone on Wednesday.
U.S. stocks closed higher on Wednesday, with the S&amp;P 500 surging past the 5,600 mark for the first time. The Nasdaq Composite also jumped to an all-time high during the session.
On the economic data front, U.S. wholesale inventories increased by 0.6% month-over-month in May compared to a 0.2% gain in the previous month. Data on consumer price index for June will be released today, while producer price index data will be released on Friday.
Taiwan Semiconductor Manufacturing Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) shares gained 3.5% on Wednesday after the company <a href="https://www.benzinga.com/markets/24/07/39713670/tsmc-sales-jump-40-on-ai-demand-microsoft-and-apple-give-up-openai-board-seats-musk-ditches-oracle">reported June net revenue</a>, which rose 32.9% year over year. LegalZoom.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LZ#NASDAQ">LZ</a>) shares tumbled over 25% after the company announced a CEO transition and lowered its full-year guidance.
All sectors on the S&amp;P 500 closed on a positive note, with information technology, health care, and materials stocks recording the biggest gains on Wednesday.
The Dow Jones closed higher by around 430 points to 39,721.36 on Wednesday. The S&amp;P 500 rose 1.02% at 5,633.91, while the Nasdaq Composite climbed 1.18% at 18,647.45 during Wednesday's session.
Investors are awaiting earnings results from PepsiCo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>), Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), and Conagra Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) today.
Big banks, including, Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) and JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) are scheduled to report second-quarter earnings on Friday.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 57.8, the index moved to the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 54.3.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39708384/top-3-tech-stocks-that-could-blast-off-in-july">Top 3 Tech Stocks That Could Blast Off In July</a></li>
</ul>

S&P 500 Settles Above 5,600 For First Time Ahead Of Inflation Data, Fear Index Moves To 'Greed' Zone

With U.S. stock futures trading lower this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects PepsiCo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) to report quarterly earnings at $2.16 per share on revenue of $22.60 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. PepsiCo shares gained 0.2% to $163.99 in the after-hours trading session.</li>
<li>WD-40 Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDFC#NASDAQ">WDFC</a>) posted stronger-than-expected results for its third quarter on Wednesday. WD-40 shares surged 12.3% to $246.69 in the after-hours trading session.</li>
<li>Analysts are expecting Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) to post quarterly earnings at $2.37 per share on revenue of $15.45 billion. The company will release earnings before the markets open. Delta Air shares gained 0.3% to $47.00 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>PriceSmart, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSMT#NASDAQ">PSMT</a>) reported better-than-expected results for its third quarter on Wednesday. The company posted quarterly earnings of $1.08 per share which beat the analyst consensus estimate of $1.01 per share. PriceSmart shares climbed 5.9% to $82.90 in the after-hours trading session.</li>
<li>Analysts expect Conagra Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) to post quarterly earnings at 57 cents per share on revenue of $2.93 billion. Conagra shares fell 1% to $28.53 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39708384/top-3-tech-stocks-that-could-blast-off-in-july">Top 3 Tech Stocks That Could Blast Off In July</a></li>
</ul>
Photo courtesy: Shutterstock

PSMT

WDFC

PepsiCo, Delta Air Lines And 3 Stocks To Watch Heading Into Thursday

Wells Fargo analyst Chris Carey maintains Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) with a Equal-Weight and lowers the price target from $32 to $31.

Wells Fargo Maintains Equal-Weight on Conagra Brands, Lowers Price Target to $31

Nasdaq, S&P, Dow futures up as more inflation data loom

In a report released today, David Palmer from Evercore ISI maintained a Hold rating on Conagra Brands (CAG – Research Report), with a price target ...

Conagra Brands (CAG) Gets a Hold from Evercore ISI

Nasdaq, S&P, Dow futures almost flat as wholesale inflation comes in hot

Nasdaq, S&P, Dow futures up as wholesale inflation comes in hot

Nasdaq, S&P, Dow push higher as wholesale inflation comes in hot

In a report released today, Robert Moskow from TD Cowen maintained a Hold rating on Conagra Brands (CAG – Research Report), with a price target of ...

Conagra Brands: A Cautious Hold Amidst Uncertain Growth and Pricing Challenges

Financial stocks deliver profits in Q2 amid rebound in investments - Earnings Scorecard

Companies in the Consumer Goods sector have received a lot of coverage today as analysts weigh in on Coca-Cola (KO – Research Report), Keurig Dr Pe...

Analysts Offer Insights on Consumer Goods Companies: Coca-Cola (KO), Keurig Dr Pepper (KDP) and Conagra Brands (CAG)

Jefferies analyst Robert Dickerson maintained a Hold rating on Conagra Brands (CAG – Research Report) today and set a price target of $27.00. The c...

Conagra Brands (CAG) Gets a Hold from Jefferies

Companies in the Consumer Goods sector have received a lot of coverage today as analysts weigh in on Diageo (DGEAF – Research Report) and Conagra B...

Analysts Have Conflicting Sentiments on These Consumer Goods Companies: Diageo (OtherDGEAF) and Conagra Brands (CAG)

DGEAF

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Press Releases

Conagra Brands Brings Snacks for Every Taste to 2024 Sweets & Snacks Expo

Vlasic Pickles Teams Up with Think Royln for Fashion-Forward Pickleball Collaboration

Conagra Brands to Release Fiscal 2024 Fourth Quarter and Full Year Earnings on July 11, 2024

Conagra Brands Enhances its Artificial Intelligence Capabilities with Human-Centered Approach

Conagra Brands Debuts Dynamic Collection of New Products

Opinion

Rising Concerns in Food Security: How Agritech and Food Companies Are Responding

Entertainment

Orville Redenbacher's and Hallmark Channel Make Summer Nights Pop With The "Ultimate Outdoor Movie Night" Sweepstakes

Dividends

Conagra Brands Reports Fourth Quarter Results and Quarterly Dividend

Conagra Brands Recognized as "Best Place to Work for Disability Inclusion" for 2024

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Conagra Brands (CAG) Forecast

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