Valspar rises on better than expected Q2 results
Michael Fowlkes 05/19/2014
The Valspar Corporation ( VAL ) is up 3.1% Monday morning following the company's fiscal second quarter report. Valspar reported quarterly earnings of $1.07 per share, outpacing the consensus estimate of $1.04. Revenues were also better than expected. Actual revenues during the quarter were $1.13 billion, better than the $1.1 billion analyst forecast.
The Valspar Corporation ( VAL ) manufactures paints, coatings, and similar products.
Zendesk, Inc. ( ZEN ) and Stillwater Mining Co. ( SWC ) top the list of other companies with positive news today, while Kamada Ltd. ( KMDA ) and Campbell Soup Company ( CPB ) top the list of companies with negative news.
IK-> The technicals for VAL are bullish with a strong upward trend. It has support at $72.30. The stock is up 3.1% today at $75.60. The company next reports earnings in mid-August. Look at the October 60/65 bull-put spread for at least a $0.20 credit. Use limit orders. This trade has a target return of 4.2% and the stock has to fall 14.0% to cause a problem. [InvestorsKeyhole, Various news and data services]