Why Energizer Holdings, Luckin Coffee, and Datadog Jumped Today
Wednesday was a topsy-turvy day for the major benchmarks, with early losses giving way to a more optimistic outlook by the end of the session. Investors still aren't sure what to expect from the Federal Reserve or from trade negotiations between the U.S. and China, but they're hopeful that positive economic trends can continue to carry stocks further into record territory. Some companies saw particularly good news that helped lift market sentiment. Energizer Holdings (NYSE: ENR), Luckin Coffee (NASDAQ: LK), and Datadog (NASDAQ: DDOG) were among the top performers. Here's why they did so well.
Shares of Energizer Holdings climbed 15% after the battery maker reported favorable fiscal fourth-quarter financial results. Acquisitions helped to lift revenue dramatically for the company, but even Energizer's core organic growth was strong. Earnings climbed by double-digit percentages from year-ago levels. Investors also seemed pleased with Energizer's expectations for the coming 2020 fiscal year, including low-single-digit organic revenue growth and flat to moderately higher adjusted earnings per share. Energizer has made huge strides in diversifying its business to embrace car-related products, and that should help make it a stronger company in 2020 and beyond.
Image source: Energizer Holdings.
Source Fool.com