Here's a first look at the main movers in early deals in New York on Thursday:
RISERS
J.M. Smucker (NYSE:SJM) jumped 5.7% to $115.42 after the maker of Smucker's jams and Jif peanut butter reported a better-than-expected 17.6% increase in fiscal first-quarter earnings, helped by strong sales in its U.S. coffee business.
Freeport McMoRan (NYSE:FCX) jumped 16.5% to $9.23 after the mining giant cut its capital spending plans for 2016 by 29% and said it will reduce headcount at U.S. mining operations as copper prices near six-year lows.
Michaels (NASDAQ:MIK) climbed 7.1% to $25.62 after the arts and crafts retailer lifted its earnings guidance for the full year.
Guess (NYSE:GES) advanced 2.3% to $21.79, reversing an earlier slump. The apparel maker reported quarterly profit of $0.21 per share, $0.06 above estimates. Revenue also topped forecasts. But the company, hit hard by the effects of a strong dollar, provided weaker-than-expected forecast for the rest of the year.
FALLERS
Dollar General (NYSE:DG) fell 2.6% to $74.74 after the discount retailer’s fiscal second-quarter revenue slightly missed market expectations amid heightened competition.
Tiffany (NYSE:TIF) sank 2.1% to $83.32 after the luxury brand said profit slipped 15% in its latest quarter, as it continues to struggle with a stronger dollar’s effect on sales.