Scotts Miracle-Gro Co.’s stock soared 21% Wednesday, chalking up its biggest one-day gain since Aug. 1, 2008, after the latest earnings from the maker of consumer lawn-care and outdoor hydroponic products were less bad than feared.
The company SMG has been cutting costs in an effort to turn its business around after two straight quarters of losses amid high inventories and low demand for its products. It has also been hit by a rise in interest costs on its debt and a weak performance by its cannabis unit, Hawthorne.
On…
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