Kellogg (K.US) stock surges more than 8% after the leading worldwide manufacturer and marketer of ready-to-eat cereals posted upbeat quarterly figures. Kellogg earned $1.11 per share well above analysts’ expectations of 96 cents per share. Revenue of $3.58 billion also beat market estimates of $3.38 billion, helped by growth internationally. The company also raised its full-year guidance. Kellogg forecasts sales growth to finish 2021 nearly flat year-on-year, while previously the company expected 1% decline. Earnings per share is expected to rise in the region between 1% to 2%, compared to the previous forecast of a 1% rise.
Kellogg (K.US) stock launched today’s session with a bearish price gap and rose sharply following the release of Q1 2021 earnings report. Currently stock is testing major resistance at $67.85. Should break higher occur, upward move may accelerate towards next resistance at $71.65. On the other hand, if the bullish momentum wears off, then nearest support to watch lies at $65.00. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
