Diamonds and Dogs
No squeaky wheels at WD-40 (WDFC). The oil and grease company is up 2% to a three month high following earnings. WD-40 easily beat expectations as sales rose 38.8% to $136.41 million. The company also raised guidance due to unprecedented demand for their maintenance products.
Railroad stocks taking a hit. Norfolk Southern (NSC), CSX (CSX) and Union Pacific (UNP) are all lower by 3% or more on rumors of an Executive Order that would presumably curtail pricing power. The Wall Street Journal reported that an executive order could be coming later this week from President Biden that aims to prevent anticompetitive pricing in shipping. The order would be directed at maritime shipping and railroad companies.
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