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Show Notes
- Data Dog (DDOG) rose along with shares of other software companies, following positive results from both MongoDB and Okta. The stock joined the S&P 500 in early July.
- Hormel Foods (HRL) falls 13%, the most intraday since 2008, after the maker of Spam and deli meats posted a third quarter profit that missed estimates and cut year guidance.
“The steep rise in commodity input costs affecting our industry was the largest contributor to our shortfall,” interim CEO Jeffrey Ettinger said in the release. During the earnings call, Ettinger said the company is taking “targeted” pricing actions. He expects profit recovery to lag into next year, with the near-term pressures persisting through the fourth quarter
- Bath & Body Works (BBWI) slumped as much as 10% on Thursday, its worst intraday drop since April 10, after the specialty retailer of body-care products lowered the top end of its sales growth forecast range for the full year. The company also said it expects tariffs to hurt gross profits by roughly $85 million
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