Diamonds and Dogs
No trade problems for WD-40 (WDFC). The household products company rose 8% today to a four month high following better than expected earnings and raised guidance led by sales in the Asia-Pacific region up 14%. Sales in the US declined, but profits remained strong due to sales of higher margin products like WD-40 Specialist and WD-40 Multi-use products. WD-40 also raised guidance for the full year.
Don't need jeans in the summertime. The recent IPO, Levi Strauss (LEVI) dropped 12% to a two month low following earnings. Levi actually beat earnings estimates and raised guidance, but gross margins and profits declined in the quarter. Levi gets a third of their business from retail stores which continue to close by the thousands. Time is ticking to more business online.
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