Clorox drops, eBay rises and more: Thursday’s 5 things to know

Here are the key events taking place on Thursday that could impact trading.

CHLOROX: Shares fell 6% in after-hours trading as quarterly revenue and profit missed Wall Street expectations.

Fiscal fourth-quarter sales were flat at $ 1.8 billion., Missing the estimate for $ 1.86 billion. Organic sales did grow 1%. Lower shipments were offset by pricing.

A woman at a grocery store looks at Clorox products. (istock / iStock)

Profit rose 4% to $ 101 million, or 81 cents per share. Adjusted earnings were 93 cents, below the analyst estimate of 95 cents.

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EBAY: Shares moved higher in after-hours trading. The online marketplace topped Wall Street revenue estimates. Second quarter revenue fell 9% to $ 2.4 billion, but was still higher than the analysts’ estimate of $ 2.37 billion. Gross merchandise volume (GMV) declined 18% to $ 18.5 billion. Net income dropped 18% to $ 554 million.

eBay logo outside of company headquarters

An eBay sign sits in front of the company’s headquarters in San Jose, Calif. ((AP Photo / Marcio Jose Sanchez, File) / AP Newsroom)

eBay is forecasting negative third quarter and full year organic growth.

EARNINGS: Another busy day ahead for 2Q earnings season. The morning will kick things off with results from health insurer Cigna, media and entertainment conglomerate Paramount Global, oil and gas giant ConocoPhillips, pharmaceutical giant Eli Lilly, and Chinese e-commerce powerhouse Alibaba.

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In the afternoon the focus will turn to another mass media / entertainment play, Warner Brothers Discovery. Also watch for numbers from digital payments pioneer Block, entertainment company Live Nation, and online travel agency Expedia to name just a few.

jobless claim form

Labor Department reports jobless claims on Thursdays. (FBN)

JOBLESS CLAIMS: The Labor Department will release its count of new claims for unemployment benefits for last week, expected to show a tight jobs market that is cooling off. Expectations are for 259,000, up slightly from the previous week and close to the eight-month high of 261,000 in mid-July. Continuing claims, which track the total number of workers collecting unemployment benefits, are expected to rise slightly to 1.370 million.

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TRADE BALANCE: The Commerce Department is out with the US trade balance for June. The monthly deficit in goods and services is expected to narrow for a third straight month to $ 80.1 billion. That compares with a record $ 107.6 billion deficit in March.

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