Why Are Whirlpool (WHR) Shares Soaring Today
What Happened?
Shares of home appliances manufacturer Whirlpool (NYSE:WHR) jumped 13.8% in the afternoon session after the company reported third-quarter earnings results. Whirlpool's full-year revenue forecast beat analysts' expectations. The results were impressive amid a challenging operating environment in North America, as the business continues to wait for a recovery in the US housing market. On the other hand, its full-year EPS outlook missed due to a non-cash charge related to an acquisition it made earlier in the year. Overall, this was a mixed quarter.
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What The Market Is Telling Us
Whirlpool’s shares are quite volatile and have had 15 moves greater than 5% over the last year. But moves this big are rare even for Whirlpool and indicate this news significantly impacted the market’s perception of the business.
Whirlpool is down 8% since the beginning of the year, and at $113.07 per share, it is trading 11% below its 52-week high of $127.05 from October 2023. Investors who bought $1,000 worth of Whirlpool’s shares 5 years ago would now be looking at an investment worth $704.32.
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