Diamonds and Dogs
Kimberly-Clark (KMB) loves Huggies. The consumer conglomerate known for Huggies and Kleenex is up 5% to new highs following better than expected earnings. Sales actually fell year or year and the company provided in line guidance for the year, but investors seem enthused about the cost savings. Management said Kimberly –Clark generated $115 million of cost savings and returned $510 million to shareholders through dividends and share repurchases. I guess management deserves a hug.
No boring days at Tesla (TSLA). The battery car maker is down 3% not far from a 52 week low on a sleuth of news. Today is Autonomy Investor Day for Tesla where they will demonstrate and showcases their autonomous driving technology. Over the weekend, Tesla decided to reduce their board from 11 down to 7, they were granted a temporary restraining order against a short seller and vocal Twitter critic and finally a video popped up on the Internet showing a parked Tesla car exploding in a Shanghai parking lot. Later in the week, Tesla will report quarterly earnings.