Why Brown-Forman, H&R Block, and Madrigal Pharmaceuticals Jumped Today
The stock market was relatively quiet on Wednesday, as competing factors kept major benchmarks within a fairly tight range close to where they began the day. Ongoing progress on trying to reconcile the two different versions of the tax reform bill kept some investors happy, but a rise in geopolitical risk and ethics-related turmoil in Congress put a damper on sentiment. Nevertheless, some individual companies had positive news, and Brown-Forman (NYSE: BF-A) (NYSE: BF-B), H&R Block (NYSE: HRB), and Madrigal Pharmaceuticals (NASDAQ: MDGL) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.
Shares of Brown-Forman were up 5%-6% after the maker of Jack Daniel's and other spirits reported its fiscal second-quarter financial results. The company said that revenue for the quarter jumped 10%, helping to send earnings higher by nearly a quarter compared to the previous year's fiscal Q2. Emerging markets were especially strong, benefiting from good organic performance and favorable currency moves, and the company's super-premium and ultra-premium categories showed faster growth than the overall business. With spirits becoming more popular among consumers at the expense of beer and wine, Brown-Forman is in an ideal position to take advantage of favorable industry conditions.
Image source: Brown-Forman.
Source: Fool.com
H&R Block Inc. Stock
We see a rather positive sentiment for H&R Block Inc. with 8 Buy predictions and 2 Sell predictions.
On the other hand, the target price of 51 € is below the current price of 52.5 € for H&R Block Inc., so the potential is actually -2.86%.
