{"id":10291,"date":"2023-09-11T21:08:31","date_gmt":"2023-09-11T21:08:31","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/jelly-filled-twinkies-smuckers-looks-to-buy-hostess\/"},"modified":"2023-09-11T21:08:32","modified_gmt":"2023-09-11T21:08:32","slug":"jelly-filled-twinkies-smuckers-looks-to-buy-hostess","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=10291","title":{"rendered":"Jelly Filled Twinkies? Smucker\u2019s Looks To Buy Hostess"},"content":{"rendered":"<div>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>Tesla<fbs-ticker data-name=\"TSLA\" data-href=\"https:\/\/www.forbes.com\/companies\/tesla\" data-type=\"stock\"><br \/>\n   TSLA<br \/>\n  <\/fbs-ticker> Upgrade With Price Target Of $400<\/li>\n<li>Instacart IPO Coming<\/li>\n<li>Possible UAW Strike?<\/li>\n<\/ul>\n<p>Stocks finished in the red last week as the S&amp;P 500 fell 1.3% and Nasdaq Composite dropped 1.9%. If there was a bright spot though it was that stocks did notch gains, albeit small, on Friday. Those gains ended a three and four day losing streak for the S&amp;P and Nasdaq Composite, respectively. The gains came despite significant losses from Apple<fbs-ticker data-name=\"AAPL\" data-href=\"https:\/\/www.forbes.com\/companies\/apple\" data-type=\"stock\"><br \/>\n  AAPL<br \/>\n <\/fbs-ticker> and Nvidia, who both fell 6%.<\/p>\n<p>Heading into this week, there are a few things worth noting. An article in today\u2019s Wall Street Journal says analysts are increasing their expectations for earnings in the third quarter. Forecasts are now calling for earnings to increase 0.5%. That\u2019s good news for market fundamentalists who are eyeing the market\u2019s price-to-earnings multiple of 18.7, which is slightly above its 10 year average 17.7. The increasing expectations come as Morgan Stanley<fbs-ticker data-name=\"MS\" data-href=\"https:\/\/www.forbes.com\/companies\/morgan-stanley\" data-type=\"stock\"><br \/>\n  MS<br \/>\n <\/fbs-ticker> upgraded Tesla to an overweight with a price target of $400. In premarket trading, shares of Tesla are up 6%.<\/p>\n<p>Instacart is looking to go public, possibly as early as next week. The grocery delivery company, which was previously valued at $39 billion, is now targeting a valuation of just $8.6 to $9.3 billion. Despite the drop in valuation, seeing a bit of activity in the IPO market is an encouraging sign. In potential merger news, according to published reports J.M. Smucker\u2019s is in talks to acquire Twinkie maker, Hostess Brands<fbs-ticker data-name=\"TWNK\" data-href=\"https:\/\/www.forbes.com\/companies\/hostess-brands\" data-type=\"stock\"><br \/>\n  TWNK<br \/>\n <\/fbs-ticker>, in a deal valued around $4 billion, who is not anxious for the potential of grape jelly filled Twinkies?<\/p>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad><\/p>\n<p>There are a few other potential big stories developing. On Wednesday, we\u2019ll get a look at the latest Consumer Price Index (CPI). Forecasts are calling for prices to be up 0.5% month-over-month and higher by 0.2% year-over-year. Then on Thursday, both the Producer Price Index (PPI) and Retail Sales reports will be released. PPI is expected to show an increase of 0.4% month-over-month and Retail Sales are forecast to have increased 0.2%.<\/p>\n<p>The slowdown in inflation but strong economy could face a challenge later this week. United Auto Workers (UAW) are threatening to go on strike as early as Friday, when their current contract is set to expire. 146 thousand workers from Ford, GM and Stellantis could all strike, bringing the auto industry to a screeching halt. According to an article from Bloomberg, the auto industry accounts for about 3% of U.S. GDP and a strike there could have significant implications for Michigan\u2019s economy.<\/p>\n<p>For today, there isn\u2019t much on the docket. Oracle will report earnings after the close and I\u2019ll be curious what their forward looking guidance looks like. In premarket activity, the S&amp;P 500 is higher by 0.5% and volatility is lower by a little less than 1.5%. I find it interesting that despite markets being down on the week, volatility really hasn\u2019t moved and continues to hover around 14. That is below its historical average and a sign markets are not too concerned about much of anything.<\/p>\n<p>Finally, it\u2019s hard to believe it\u2019s been 22 years since America was attacked. Nearly 3,000 people perished that Tuesday morning. I just want to take a moment to remember those we lost. We will never forget.<\/p>\n<p><em>tastytrade, Inc. commentary for educational purposes only. This content is not, nor is intended to be, trading or investment advice or a recommendation that any investment product or strategy is suitable for any person.<\/em><\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/jjkinahan\/2023\/09\/11\/jelly-filled-twinkies-smuckers-looks-to-buy-hostess\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Tesla TSLA Upgrade With Price Target Of $400 Instacart IPO Coming Possible UAW Strike? Stocks finished in the red last week as the S&amp;P 500 fell 1.3% and Nasdaq Composite dropped 1.9%. If there was a bright spot though it was that stocks did notch gains, albeit small, on Friday. Those gains ended [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[33],"tags":[],"class_list":{"0":"post-10291","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Jelly Filled Twinkies? Smucker\u2019s Looks To Buy Hostess | Prosfunds<\/title>\n<meta name=\"description\" content=\"Key Takeaways Tesla TSLA Upgrade With Price Target Of $400 Instacart IPO Coming Possible UAW Strike? 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