Diamonds and Dogs

6/27/24

Barbeque season is on! McCormick and Co (MKC) is up 6% as one of the top performers in the S&P 500 following better than expected earnings. The seasonings and flavorings maker beat by 10 cents as sales actually fell 1% to $1.64 billion. The company is optimistic about improving volume trends as the year progresses and return to volume growth next year.

Walgreens has seen better days. Th drugstore retailers is down 25% to a 15 year low after missing earnings and lowering full year guidance, reflecting a challenging pharmacy industry with consumers pull back where they can. The company will look in to closing underperforming stores and more job cuts. CVS is down 4% in sympathy.