Stock Market Today: Why Walgreen and McCormick are on the Move

Why Walgreen, McCormick, and G-III Apparel stocks are on the move today.

Mar 25, 2014 at 9:00AM
Longview

Look for a positive beginning to the stock market today: The Dow Jones Industrial Average (DJINDICES:^DJI) has gained 74 points in pre-market trading. U.S. stocks could take some positive cues from overseas markets, as Europe's STOXX index rose by as much as 1% overnight.

Closer to home, investors will get two fresh data points on the health of U.S. consumers this morning: consumer confidence is expected to show slight improvement in the month of March, while the pace of new home sales in February should have come down a bit from the five-year high the industry set in January. Both reports are due out at 10 a.m. EDT.

New Home Sales

New home sales. Source: Federal Reserve Economic Data.

Meanwhile, news is breaking this morning on several stocks that could see heavy trading in today's session, including Walgreen (NASDAQ:WBA)McCormick (NYSE:MKC) , and G-III Apparel (NASDAQ:GIII).

Walgreen today announced that sales for its fiscal second quarter rose by 5% to a record $19.6 billion, on par with Wall Street's expectations. Adjusted profit for the pharmacy retailer, at $0.91 a share, came in just below analysts' estimates. Walgreen cited a few factors in that profit dip, including a less severe flu season, fewer generic drug introductions, and rough winter weather. Still, the company managed to book solid comparable store-sales growth of 4.3% through all of those headwinds. Walgreen's stock was up 3% in pre-market trading.

Spice maker McCormick this morning posted strong earnings results for its fiscal first quarter. Sales grew by 6% to $993 million, and profit improved by 9% to reach $0.62 a share. The company's international business is reaping big rewards from its 2013 expansion into the Chinese market: sales in the Asia/Pacific region were up 74% in the quarter. Meanwhile, McCormick's U.S. sales also managed to tick higher, boosted by extra marketing spending that helped offset continuing weakness in demand from quick-service restaurants. The company confirmed its outlook for its full fiscal year, which calls for sales growth of between 3% and 5%. McCormick stock was unchanged in pre-market trading.

Finally, clothing manufacturer G-III reported weaker than expected earnings results. Sales for its fiscal fourth quarter spiked higher by 26% to $473 million, but that was below the $490 million that Wall Street had estimated. Earnings improved by 55% to $0.62 a share. G-III also gave a conservative outlook for its next fiscal year, calling for earnings of about $4.10 a share, below analysts' target of $4.30. The stock is up almost 100% over the last year, but gave 7% of that back in pre-market trading.

3 stocks poised to help you retire rich
It's no secret that investors tend to be impatient with the market, but the best investment strategy is to buy shares in solid businesses and keep them for the long term. In the special free report "3 Stocks That Will Help You Retire Rich," The Motley Fool shares investment ideas and strategies that could help you build wealth for years to come. Click here to grab your free copy today.

Demitrios Kalogeropoulos has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Money to your ears - A great FREE investing resource for you

The best way to get your regular dose of market and money insights is our suite of free podcasts ... what we like to think of as “binge-worthy finance.”

Feb 1, 2016 at 5:03PM

Whether we're in the midst of earnings season or riding out the market's lulls, you want to know the best strategies for your money.

And you'll want to go beyond the hype of screaming TV personalities, fear-mongering ads, and "analysis" from people who might have your email address ... but no track record of success.

In short, you want a voice of reason you can count on.

A 2015 Business Insider article titled, "11 websites to bookmark if you want to get rich," rated The Motley Fool as the #1 place online to get smarter about investing.

And one of the easiest, most enjoyable, most valuable ways to get your regular dose of market and money insights is our suite of free podcasts ... what we like to think of as "binge-worthy finance."

Whether you make it part of your daily commute or you save up and listen to a handful of episodes for your 50-mile bike rides or long soaks in a bubble bath (or both!), the podcasts make sense of your money.

And unlike so many who want to make the subjects of personal finance and investing complicated and scary, our podcasts are clear, insightful, and (yes, it's true) fun.

Our free suite of podcasts

Motley Fool Money features a team of our analysts discussing the week's top business and investing stories, interviews, and an inside look at the stocks on our radar. The show is also heard weekly on dozens of radio stations across the country.

The hosts of Motley Fool Answers challenge the conventional wisdom on life's biggest financial issues to reveal what you really need to know to make smart money moves.

David Gardner, co-founder of The Motley Fool, is among the most respected and trusted sources on investing. And he's the host of Rule Breaker Investing, in which he shares his insights into today's most innovative and disruptive companies ... and how to profit from them.

Market Foolery is our daily look at stocks in the news, as well as the top business and investing stories.

And Industry Focus offers a deeper dive into a specific industry and the stories making headlines. Healthcare, technology, energy, consumer goods, and other industries take turns in the spotlight.

They're all informative, entertaining, and eminently listenable. Rule Breaker Investing and Answers are timeless, so it's worth going back to and listening from the very start; the other three are focused more on today's events, so listen to the most recent first.

All are available for free at www.fool.com/podcasts.

If you're looking for a friendly voice ... with great advice on how to make the most of your money ... from a business with a lengthy track record of success ... in clear, compelling language ... I encourage you to give a listen to our free podcasts.

Head to www.fool.com/podcasts, give them a spin, and you can subscribe there (at iTunes, Stitcher, or our other partners) if you want to receive them regularly.

It's money to your ears.

 


Compare Brokers