PINNACLE FOODS INC Common Stock (NYSE: PF)
PINNACLE FOODS is off to an incredibly strong day in the market today. After starting the day off in the green, the stock has seen its ups and downs, but has stayed above the break even point. Nonetheless, minutes ago, we started to see a spike in value on the stock. Below, we’ll talk about what we’re seeing, why, and what we’ll be watching for with regard to PF ahead.
What We’re Seeing From PF
As mentioned above, PINNACLE FOODS was already off to a relatively strong day in the market today. After starting the day in the green, the stock climbed before seeing some downward movement. However, throughout the day, the stock has stayed well in the green. Now, just minutes ago, it started to spike upward again. Currently (1:10), PF is trading at $51.18 per share after a gain of $0.67 per share (1.33%) thus far today.
Why The Stock Is Gaining
As usual, as soon as our partners at Trade Ideas informed us that PF was surging upward, the CNA Finance team started digging to see exactly what was causing the movement. In this particular case, it didn’t take long to dig up the story. It seems as though the gains are the result of an update provided by the company.
Recently, PINNACLE FOODS announced a revision to its guidance. Of course, this revision was in the upward direction. This happened as part of the presentation at the Investor Holiday Luncheon. Of course, any time guidance is revised upward, it means that the company is expecting to make more money, making it more exciting for investors.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on PF. In particular, we’re interested in hearing more details from today’s presentation. Nonetheless, we’ll keep a close eye on the news and bring you the updates as they become available.
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