J.M. Smucker (SJM -9.6%) shares sink after FQ3 earnings fell 11% on a greater-than-expected drop...

|About: J. M. Smucker Company (SJM)|By:, SA News Editor

J.M. Smucker (SJM -9.6%) shares sink after FQ3 earnings fell 11% on a greater-than-expected drop in sales volume, and weak 2012 guidance. "SJM is yet another company to point out lower consumer demand across the food industry," J.P. Morgan warns, a negative for grocers and food manufacturers "as consumers are no longer accepting higher retail prices."