The stock market is poised to mark a third consecutive session of gains, with major indices all trading in the green during midday trading in New York on Monday, as traders continue to react positively to quarterly earnings and the Federal Reserve’s unexpectedly dovish stance
Freshpet Inc surges on solid Q1 FY24 earnings, beating sales estimates with a 33.6% YoY growth to $223.85 million. Gross profit skyrockets by 73.6%, reaching $88.2 million, as margins expand to 39.4%. Improved efficiency and lower input costs drive profitability, while adjusted EBITDA soars to $30.6 million.
As of Dec. 15, 2023, four stocks in the consumer staples sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
Gainers
Carbon Revolution Public Limited (NASDAQ: CREV) shares jumped 396.2% to $145.49 after gaining 100% on Friday. The company’s stock began trading on Friday following merger with Twin Ridge Capital Acquisition Corp.