Clorox Needs Radical Action
Clorox (CLX) - Get Clorox Company Report had a rough second quarter as people stopped buying sanitary products to fight the COVID-19 pandemic. TheStreet's Jim Cramer says some radical changes must be made.
"People are going to take a hard look and make a decision whether a 3% yield is enough to tide you through," Cramer said Tuesday following the company's report.
Shares of Clorox touched a 52-week low on Tuesday after the company forecast full-year sales below analysts' estimates. Easing pandemic fears dented the company's bleaches, wipes and surface cleaners.
Clorox said it expected fiscal 2022 sales to fall 2% to 6%, compared with estimates of a 1% decline.
Mastercard Can't Find the Bottom
Mastercard (MA) - Get Mastercard Inc. (MA) Report shares dropped Tuesday, continuing its decline from last week despite its strong earnings results. The fact that it hasn't found a bottom has Jim Cramer concerned.
"When I look at the inability of certain stocks to bottom, I find it disconcerting, because it almost feels like first-round COVID," Cramer said of Mastercard.
Mastercard revenue soared 36% in the quarter to $4.5 billion from $3.3 billion a year earlier. Analysts were expecting revenue of $4.37 billion.
Net income was $2.1 billion, or $2.08 a share, rising from $1.4 billion, or $1.41 a share, a year earlier. Analysts anticipated $1.74 a share.