Lancaster Colony Corp
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Consumer Staples : Food Products | Mid Cap BlendCompany profile

Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company's food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar. Its brands include Marzetti, Marzetti Simply Dressed, Cardini's, Girard's, New York BRAND Bakery, Sister Schubert's and Flatout. It manufactures and sells other products pursuant to brand license agreements, which includes Olive Garden dressing. A portion of its sales are frozen specialty pasta and flatbreads sold to industrial customers for use as ingredients or components in their products.

Closing Price
Day's Change
1.57 (1.01%)
B/A Size
Day's High
Day's Low
(Heavy Day)

10-day average volume:
115,637 'Market Recap' Week Ending August 2nd, 2019

9:00 am ET August 2, 2019 (PR Newswire) Print

U.S. markets remained flat during the beginning of the week due to a mixture of corporate earnings and the Federal Reserve's rate cut decision. On Monday, markets ended slightly lower mainly due to the ongoing U.S.-China trade war and corporate quarterly financial results. U.S. President Donald Trump pressured China to reach an agreement as quickly as possible and threatened that if a deal isn't reached soon and if he is re-elected again, the terms of the agreement will be tougher. Despite Monday's slip, markets quickly recovered on Tuesday as investors honed in on the Fed's decisions. On Wednesday, markets got a boost early on from Apple's better-than-expected quarterly financial results. However, markets then began to retreat shortly after as the Fed was expected to deliver its announcement in the afternoon. U.S. markets spiraled downward after the Fed announced a rate cut, which many investors and analysts expected. However, the Fed hinted that it is in no rush to deliver further easing, according to MarketWatch. Many investors described Powell's decision as a "hawkish cut," but Powell described the cut "as a mid-cycle adjustment, and markets are worried that means there isn't much more easing coming," according to Kit Juckes, Global Head of FX Strategy at Societe Generale. The Dow Jones Industrial Average fell by as much as 500 points while Federal Reserve Chairman Jerome Powell was delivering his announcement during a press conference. Despite the pullback on Wednesday, markets quickly recovered again on Thursday as the Dow Jones rose by as much as 300 points. However, the market quickly turned once again in the late afternoon after Trump announced he would impose an additional 10% tariff on USD 300 Billion worth of Chinese goods starting on September 1st. The Dow Jones plunged as much as 600 points from its high on Thursday. Beyond Meat, Inc. (NASDAQ: BYND), Advanced Micro Devices, Inc. (NASDAQ: AMD), Apple, Inc. (NASDAQ: AAPL), Shopify Inc. (NYSE: SHOP), Square, Inc. (NYSE: SQ)

Investors focused their attention on the Fed this week, but Trump's decision to impose additional tariffs on China put the trade wars back into the spotlight. While investors divert their attention to the trade wars, corporate earnings are expected to continue next week as Uber Technologies, Lyft, CVS Health, Walt Disney, and Booking Holdings are anticipated to report. From Monday's open leading into Thursday's closing bell, the Dow Jones Industrial decreased by -- points or --%. The S&P 500 fell by -- points or --%, while the Nasdaq Composite declined by -- points or --%. "Wednesday's Fed events may have given risk markets a little indigestion, but they also bought the Fed a little more flexibility going into the next FOMC meeting," JPMorgan economist Michael Feroli wrote in a note, according to Yahoo Finance. "We still look for one more easing in September, and continue to believe that ... the call in September depends on all of the data. While [Wednesday's] move was motivated by global growth, trade policy and inflation developments, we expect September's decision will also depend on domestic growth developments."

Beyond Meat, Inc. (NASDAQ: BYND) reported its second-quarter financial results after the closing bell on Monday. The plant-based meat producer reported weaker-than-expected earnings, causing shares to tank by over 15% during extended trading hours. For the second quarter, Beyond Meat reported an earnings loss of USD 0.24 per share on revenues of USD 67.3 Million. Analysts projected earnings loss of USD 0.08 per share on revenues of USD 52.7 Million. Beyond Meat reported that its revenues surged by 287% year-over-year. However, the Company reported that its net losses increased from USD 7.4 Million the same quarter a year ago. The stronger revenue was primarily driven by Beyond Meat's Fresh platform, which drew in USD 67 Million in revenue, increasing by 347% year-over-year. As for the remainder of the full year, Beyond Meat raised its expectations and now forecasts net revenues to exceed USD 240 Million. Initially, Beyond Meat's stock price rose after reporting its results, however, shares pulled back after the Company announced its stock offering. Shareholders plan to sell 3 million shares, while 250,000 will be offered by Beyond Meat itself.

Advanced Micro Devices, Inc. (NASDAQ: AMD) reported its second quarter financial results on Tuesday after the market close. The chipmaker shares shaved off 10% after reporting declining revenue. For the second quarter, AMD reported earnings of USD 0.08 per share on revenue of USD 1.53 Billion. AMD reported in-line earnings, but beat revenue estimates of USD 1.52 Billion. AMD reported that its revenue fell by 13% year-over-year, however, it is up 20% sequentially. AMD's revenue decline was largely due to its Computing and Graphics segment. The unit reported revenues of USD 940 Million, decreasing by 13% year-over-year. Additionally, AMD's Enterprise, Embedded, and Semi-Custom unit reported revenues of USD 591 Million, down 12% year-over-year. However, for the third quarter, AMD expects to report revenue of USD 18.8 Billion, representing approximately a 9% increase year-over-year.

Apple, Inc. (NASDAQ: AAPL) reported its third-quarter financial results after the closing bell on Tuesday. The tech giant surpassed analysts' estimates and provided stronger-than-expected guidance, sending shares 5.6% higher at the open on Wednesday. For the third quarter, Apple reported earnings of USD 2.18 per share on revenues of USD 53.8 Billion. Analysts expected earnings of USD 2.10 per share on revenues of USD 53.39 Billion. Apple's revenue increased by 1% year-over-year, primarily due to the strong growth in its Wearables, Home, Accessories and Services segments. iPhone sales reached USD 25.98 Billion, decreasing from USD 29.47 Billion a year ago. Analysts projected iPhone sales of USD 26.31 Billion. As for the rest of the fiscal year, Apple is forecasting revenues between USD 61 Billion and USD 64 Billion. Analysts are estimating revenues of USD 60.98 Billion. Apple also declared a cash dividend of USD 0.77 per share.

Shopify Inc. (NYSE: SHOP) reported its second-quarter financial results before the opening bell on Thursday. The online e-commerce platform reported surpassed analysts' earnings and revenue estimates, sending shares 10% during midday Thursday. For the second quarter, Shopify reported earnings of USD 0.14 per share on revenues of USD 362 Million. Analysts were projecting earnings of USD 0.03 per share on revenues of USD 350.5 Million. Shopify was able to top estimates largely due to its boosted revenue. During the quarter, Shopify reported that revenues rose by 48% year-over-year as the Company saw strength across its segments. Subscription solutions revenue grew by 38% to USD 153 Million, primarily driven by growth in Monthly Recurring Revenue (MRR). MRR was USD 47.1 Million at the end of the quarter, up 34% year-over-year, largely due to an increase in the number of merchants joining the platform. And as for the rest of the fiscal year, Shopify is expecting total revenues in the range of USD 1.51 Billion to USD 1.53 Billion and adjusted operating income between USD 20 Million to USD 30 Million.

Square, Inc. (NYSE: SQ) reported its second-quarter financial results after the closing bell on Thursday. The digital payment company topped analysts' estimates, however, reported an increasing net loss, sending shares lower by as much as 8%. For the second quarter, Square reported earnings of USD 0.21 per share on revenues of USD 563 Million. Square's earnings fell in-line with analysts' estimates and beat revenue estimates of USD 557.1 Million. Net loss for the quarter widened to USD 7 Million compared to USD 6 Million a year prior. As a result, Square decided to sell it food-delivery service Caviar to DoorDash for USD 410 Million.

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