Why Bleach And Cleaning Products Maker Clorox's Shares Declining Today?
Portfolio Pulse from Lekha Gupta
Clorox Co's shares are trading lower after it reported preliminary Q1 FY24 financial results, with a projected decline in net sales and adjusted EPS. The company's weak expectations are due to a recent cybersecurity attack. Clorox is now transitioning back to automated order processing and expects to experience ongoing but lessening operational impacts in Q2. The same group of hackers is also linked to recent cyber breaches at Caesars Entertainment Inc and MGM Resorts International.
October 05, 2023 | 11:19 am
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NEGATIVE IMPACT
Clorox Co's shares are trading lower due to weak Q1 FY24 financial results and a recent cybersecurity attack.
The company's weak financial results and the recent cybersecurity attack are negatively impacting the stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Caesars Entertainment Inc was recently breached by the same group of hackers that attacked Clorox Co.
The recent cybersecurity breach could negatively impact the company's operations and reputation, leading to a potential drop in the stock price.
CONFIDENCE 100
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
MGM Resorts International was recently breached by the same group of hackers that attacked Clorox Co.
The recent cybersecurity breach could negatively impact the company's operations and reputation, leading to a potential drop in the stock price.
CONFIDENCE 100
IMPORTANCE 50
RELEVANCE 50