Yeti (YETI) shares are up after positive Q2 results, which beat on profit while sales fell 4 percent. Sonos (SONO) stock is up after beating estimates on the top and bottom line. The electronics maker also revised its outlook for this fiscal year. Hanesbrands (HBI) shares are down after reporting a loss in Q2 earnings. Yahoo Finance Live's Brad Smith and Julie Hyman break down the top stocks to watch.
Video Transcript
- We are higher across the board with the S&P 500. That pointing higher by about 1.3% after July's CPI print showed inflation continuing to moderate. Monthly prices, they were up 2/10 of a percent from the previous month, in line with June's increase. Headline inflation rose 3.2% over last year.
- And in terms of individual stocks we're watching, shares of Yeti up 19% after it reported second-quarter results. The company saw a beat on profit, but it saw sales decline by 4%. The outdoor and recreation products manufacturer did raise its full-year outlook, and it also provided a crucial update on its product recall. The CEO saying they expected return to double-digit growth in the fourth quarter.
Also looking at Sonos, which beat estimates on both the top and bottom lines this morning. Music to investors' ears, perhaps. It saw revenue rise 0.4%. The electronics maker also revised its outlook for its fiscal year.
The CEO, Patrick Spence, saying while they have not yet seen conditions in our categories return to normal, the company can still emerge in a position of strength from the quarter.
- And our eyes also on Hainsbrands and so, too, are those of activist investors. They are pushing the underwear company to make changes to its board and potentially find a new CEO. Hainsbrands, meantime, just released second-quarter earnings, reporting a loss of 22.5 million US dollars. The shares down some 2%
