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Why Are Kellanova (K) Shares Soaring Today

Shares of packaged foods company Kellanova (NYSE:K) jumped 8.2% in the morning session after the company reported first-quarter results, which blew past analysts' organic revenue growth expectations. Its EPS also outperformed Wall Street's estimates. The topline endured headwinds driven by FX volatility as well as the divestiture of its business in Russia. On the other hand, its gross margin missed analysts' expectations, and its operating margin missed Wall Street's estimates. Zooming out, we t

As sales end due to Ukraine war, Ikea to sell Russian factories

Swedish furniture company IKEA has decided to scale down its business in Russia due to supply chain issues around the world

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