Why Topgolf Callaway Rallied Today

The company delivered better-than-expected earnings before its big spinoff. Shares of golf giant Topgolf Callaway (MODG 8.76%) rallied 8.8% on Thursday. The company delivered earnings last night that beat expectations across the board. Investors may also be looking forward to the spinoff of Topgolf, even though it may be pushed into next year in light of the unit CEO's resignation. Better-than-expected strength across the business These results reflect continued consumer strength in our golf equipment busin ...