Diamonds and Dogs
Clorox (CLX) sales surge due to the global pandemic. The bleach maker is up 3% not far from all-time highs as consumers and companies have scrambling to stockpile cleaning products. In their earnings report, Clorox said sales jumped 15%, thanks to soaring demand for the company's bleach, soaps, and other hygiene products and disinfectants. Clorox significantly raised its full year forecasts for earnings and sales.
Amazon (AMZN) taking it on the chin. Most stocks are lower including Amazon down 6% following earnings. The good news is operating profits came in at $4 billion while revenue jumped 26% to $75.45 billion. The bad news is Amazon will spend the $4 billion profit or more on Covid-related expenses getting products to customers faster and keeping employees safe. Basically, getting even further ahead of their competition.
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