Market Updates
U.S. Movers: Charles Schwab, McCormick & Co, Stellantis
Scott Peters
01 Oct, 2024
New York City
Charles Schwab Corporation declined 1.6% to $63.75, and the company announced the retirement of chief executive Walt Bettinger at the end of the year.
Charles Schwab President Rick Wurster is slated to assume the leadership role at the start of the new year.
Stellantis NV declined 1.9% to $13.78 and extended its loss for the second day in a row after the automaker plans to halt production of the electric Fiat 500 until the end of November.
McCormick & Company increased 0.7% to $82.84 after the spice maker reported better-than-expected revenue and earnings.
The spice and flavoring company reported net sales in the edge to $1.67 billion from $1.68 billion, net income increased to $223.1 million from $170.1 million, and diluted earnings per share to 83 cents from 63 cents.
The company reaffirmed its sales and operating profit outlook, and estimated adjusted earnings per share between $2.85 and $2.90.
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