The S&P 500 Is Dropping Like a Rock but Clorox Stock Is Rising -- Here's Why
Shares of consumer conglomerate The Clorox Company (NYSE: CLX) rose on Friday even though the S 500 dropped like a rock. The company reported results for its fiscal fourth quarter of 2024 that encouraged investors. As of 10:40 a.m. ET today, Clorox stock was up 5%, whereas the S 500 was down a sharp 2.5%.
In the case of Clorox, I wouldn't call its latest quarter an overwhelming success even though its stock price is up nicely. But investors are overlooking lackluster sales because profits are strong.
In the fourth quarter, net sales fell 6% year over year. Granted, it divested its business in Argentina, which brought the number down. But its organic-sales metric takes this into account, and the quarter's organic sales were down 3%.
Source Fool.com