Clorox Stock Crumbles Following Earnings Miss

Core Viewpoint - Clorox Co's fiscal third-quarter earnings and revenue missed estimates, leading to a 2.5% decline in share price to $134.96, with profits of $1.45 per share falling below the $1.71 per share from the same quarter last year [1] Group 1: Earnings and Revenue Performance - Clorox reported fiscal third-quarter earnings of $1.45 per share, which is a decrease from $1.71 per share in the same quarter a year ago [1] - The company's revenue also missed market expectations, contributing to the decline in share price [1] Group 2: Analyst Reactions - Following the earnings report, several analysts reduced their price targets for Clorox, with Morgan Stanley lowering its target from $165 to $150 [1] - Despite the price target reductions, there have been no downgrades, as 16 out of 17 brokerages maintain a "hold" or worse rating on the stock [1] Group 3: Stock Performance and Options Activity - Clorox shares traded as low as $129.74 earlier in the day, with the $130 level providing some support against further losses, similar to trends observed in June and July [2] - Since the beginning of the year, Clorox's stock has decreased by 17% [2] - The options market has seen a significant increase in activity, with Clorox stock experiencing quadruple the typical options volume, particularly with the May 125 put being the most popular [2]