Continental Building Products Jumps 8.2%

I wanted to quickly mention yesterday’s market action. Our Buy List gained 0.72% which beat the S&P 500’s gain of 0.64%, but there were two extremes in yesterday’s action.

The first is that Continental Building Products (CBPX) rose 8.2% yesterday. I liked the earnings report, but I had no idea it would rally so much. I suppose expectations were so low that yesterday’s report soothed a lot of nerves. Still, it’s nice to see.

At the other end, JM Smucker (SJM) dropped 5% yesterday. It wasn’t anything they did. Instead, it was a reaction to the horrible report from Kraft Heinz (KHC), which caused it to plunge 27%. This is all the more puzzling because it comes right after SJM said that its 2020 earnings will be above Wall Street’s expectations. The company will report Q3 earnings on Tuesday morning.

Posted by on February 23rd, 2019 at 11:01 am


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