Stock Market Update
01-May-26 14:05 ET
Clorox lower after earnings, defensive sectors lag
Dow +14.20
at 49666.34,
Nasdaq +266.49
at 25158.80,
S&P +39.24
at 7248.25
[BRIEFING.COM] The S&P 500 (+0.6%), Nasdaq Composite (+1.2%), and DJIA (+0.1%) are back in positive territory across the board.
Clorox (CLX 87.65, -8.79, -9.12%) is the worst-performing name in the consumer staples sector (-0.2%) and the S&P 500 after reporting its Q3 (Mar) results last night, falling to a new decade low. The company missed EPS expectations for the second consecutive quarter, while revenue was essentially flat year-over-year at $1.67 billion, in line with expectations. Additionally, Clorox cut its FY26 EPS guidance to $5.45-5.65 from $5.95-6.30. Reported sales are now expected to decline about 6%, better than its prior view for a 6-10% decline, with the improvement helped by the recently closed GOJO Industries acquisition. However, organic sales are now expected to decline about 9%, the low end of its prior outlook.
Defensive sectors are modestly lower today amid the outperformance in tech, with the health care (-0.2%) and utilities (-0.3%) sectors also in negative territory.
