WD-40 Company

Shares of WD-40 spiked on Friday after the company reported fiscal third-quarter profits that handily beat Wall Street estimates. Net sales jumped 24% to $195 million, with broad-based gains across the Americas, Asia-Pacific, and EIMEA segments. Adjusted net income soared 50% to $31.5 million, or $2.33 per share, well above the $1.56 analysts had expected. Management also raised its full-year guidance, now projecting net sales growth of 10% to 12% and adjusted earnings per share of $6.05 to $6.35.

SK Hynix American depositary receipts surged about 17% in their Nasdaq debut after pricing at $149 and raising $26.5 billion for expansion plans. Meta Platforms jumped almost 6%, extending its weekly gain to more than 14%, after a Reuters report said Facebook plans to put an AI chip into production in September and suggested compute costs will be lower than expected. WD-40 rallied 10% on better-than-expected earnings and raised full-year guidance. Vodafone U.S.-listed shares jumped 13% after French billionaire Xavier Niel took a 16% stake worth about $6 billion, becoming the largest holder. Delta Air Lines dipped more than 2% despite beating estimates, while Netflix fell 3% on a report it discussed adding live TV channels and bundling with other services.

WD-40 shares surged more than 15% after the company reported adjusted third-quarter earnings of $2.33 per share, beating the $1.56 consensus estimate from analysts polled by FactSet, and raised its full-year guidance. Circle Internet Group jumped more than 13% after receiving U.S. Office of the Comptroller of the Currency approval to launch a crypto-focused bank, a move CEO Jeremy Allaire called a key moment for bringing blockchain into the financial system. Vodafone's U.S.-listed shares rose 13% after French billionaire Xavier Niel took a 16% stake worth about $6 billion, becoming the largest shareholder. Delta Air Lines fell more than 3% despite beating second-quarter earnings estimates, while CEO Ed Bastin told CNBC he expects pricing power from the jet fuel surge to persist. Memory and chip stocks were broadly lower ahead of SK Hynix's Nasdaq debut, with Intel off almost 2%, Sandisk down more than 1.5%, and Marvell Technology slipping 1%.

WD-40 shares surged 14% after reporting fiscal third-quarter results that beat expectations, with adjusted earnings per share of $2.33 and revenue of $195.1 million, up 24% year-over-year, and issuing an upbeat fiscal 2026 outlook. Vodafone shares jumped 10% after UAE telecom operator e& Group agreed to sell its 16.21% stake to a company controlled by French telecom billionaire Xavier Niel's family group for $5.95 billion, at 112.5 pence per share. Solaris Energy Infrastructure gained 3% after S&P Dow Jones Indices announced it will replace Catalyst Pharmaceuticals in the S&P SmallCap 600 effective before the open on July 15. Fermi shares tumbled 22% after the company priced an upsized $375 million offering of 5.00% convertible senior notes due 2031.

WD-40 Company updated its fiscal 2026 guidance, now expecting reported net sales between $675 million and $690 million after reclassifying its Americas homecare and cleaning brands as held for use. CEO Steven Brass said third-quarter consolidated net sales rose 24% year-over-year to $195.1 million, with maintenance products representing 97% of total net sales and setting a new company record. Gross margin increased 40 basis points to 56.6%, but CFO Sara Hyzer warned of temporary pressure from external cost factors and lowered the full-year gross margin outlook to between 54.5% and 55.5%. The company also announced leadership changes, including the creation of Chief Strategy and Innovation Officer and Chief Brand and Marketing Officer roles, and authorized a new $100 million share repurchase program.