Today in the Market (12/29/2022)

Good Evening. As investors scrambled to salvage the last two trading days of a dismal year for markets, U.S. equities surged higher on Thursday, spurred by a recovery in technology firms.

The S&P 500 rose 1.75%, reversing two consecutive days of losses, while the Dow Jones increased 1.05%. The Nasdaq Composite increased the most by 2.59%.

FRESH EGG EARNINGS

Cal-Maine Foods (CALM) shares declined this week as the nation’s biggest egg producer announced excellent growth in its fiscal second quarter, but profitability fell short of expectations.

  • Revenue: $801.7 Million vs. 797.8 Million Expected
  • Earnings Per Share: $4.07 vs. $4.24 Expected

“Our results demonstrate the strength of our operating model and ability to execute our growth strategy in a dynamic environment,” said CEO Sherman Miller. He went on, “Above all, we remain focused on our mission — to be the most sustainable producer and reliable supplier of fresh shell eggs and egg products in the United States.”

Did you know… Contrary to the overall market trend, Cal-Maine stock has soared this year as a result of increased egg prices. This is great for investors because a third of the company’s earnings are distributed as dividends. The stock’s previous quarterly dividend payment of $1.35 represents a yield of almost 10%, but future payouts will rely on egg prices.

BEING SUED IS NOT SO SWEET

Hershey Co. (HSY) is being sued for allegedly selling dark chocolate with unsafe levels of heavy metals such as lead and cadmium.

Dove, Ghirardelli, Alter Eco, and Mast were among the 23 bars evaluated by Consumer Reports, which concluded that only one ounce per day of Dove, Ghirardelli, Alter Eco, or Mast would put an adult above the number of heavy metals recommended by public health authorities.

In the study, they found that Hershey’s dark chocolate has harmful amounts of cadmium and lead, despite the common belief that dark chocolate is the healthier option. Hershey’s Special Dark bar and Lily’s 70% bar had high levels of lead, while Lily’s 85% bar included significant levels of lead and cadmium.

In light of this revelation, the lawsuit seeks at least $5 million in damages, including at least $500 per transaction under New York law.

Scroll to Top

Where Are You On Your Investment Journey?

Rise

Run

Relax

All investors are unique.  The above characteristics are examples, but may not reflect your particular investor demographics or situation.  An advisor with Edgar Investment Management, LLC will assist you with finding the best type of account for you. 

Investment advisory services are offered through Edgar Investment Management, LLC, an investment advisor registered with the State of Texas. Edgar Investment Management, LLC only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure document.

The content found on this website is developed from sources we believe provide accurate information and is for educational purposes only. The information on this website is not intended as tax or legal advice. Everyone’s tax and legal situation is different, so please consult trusted and knowledgeable legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided on this website are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Material and information found on this website is not intended as an offer or solicitation for the sale or purchase of any specific security, mutual fund, ETF, bond, or investment strategy.  

Investing is risky!  No guarantee as to performance of any investment is implied by this website.  Make sure you have evaluated your options and spoken with trained professionals before you implement any investment strategy.  Past performance is not indicative of future results.  

Please be advised that Edgar Investment Management, LLC is a financial advisory firm specializing in investment management and financial planning services. We do not offer or provide any CPA-related services, including tax preparation, tax planning, or other accounting services. If you require assistance with tax-related matters, we recommend consulting a qualified CPA or tax professional who can provide specialized advice tailored to your individual needs.

Edgar Investment Management, LLC is not a Public Accounting firm.

 

Contact Us

Name
Best time(s) to contact you?
Best method(s) to contact you?

Contact Us

Name
Best time(s) to contact you?
Best method(s) to contact you?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.

  • About You

    Tell us a little about yourself. Don't be shy. Let's be friends.
  • How Can We Reach You?

    We would love to chat with you. How can we get in touch with you?
  • What's on your mind?

How much do you want to invest?