With COVID-19, there’s big demand for hand sanitizer.
So much so, retailers are struggling to keep product shelves, as governments and health professionals advise folks to keep their hands clean. In fact, according to the World Health Organization, “Use an alcohol-based hand sanitizer with at least 60% alcohol. Always wash hands with soap and water if hands are visibly dirty.”
With such demand, the makers of Purell, GOJO Industries recently said, “We are seeing a substantial increase in demand. We have experienced several demand surges in the past during other outbreaks, and this is on the higher end of the spectrum.”
Even analysts at Nielsen found that dollar sales of hand sanitizer in the four weeks ending on March 7 exploded 228% year over year, as noted by CNN. All as the world fights back against the coronavirus. As the global story unfolds, some of the top stocks to keep an eye on include The Yield Growth Corp. (CSE:BOSS)(OTC:BOSQF), Clorox Co. (NYSE:CLX), Kimberly Clark Corp. (NYSE:KMB), Huntsman Corp. (NYSE:HUN), and Kroger Co. (NYSE:KR).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. has submitted an application to Health Canada for expedited approval of its Urban Juve hand sanitizer. This is part of Yield Growth’s effort to meet extensive product demand and help battle the coronavirus in Canada. Urban Juve’s natural hand sanitizer spray consists of 65% alcohol as per Health Canada guidelines, with a refreshing, clean blend of peppermint, lavender and orange peel oils. Urban Juve has secured the supply for all the packaging and raw ingredients for an initial production run and plans to have the product available for sale within the next 60 days. “Our company develops and offers products to improve lives. We are all hands on deck to be able to produce and provide consumers a hand sanitizer at a reasonable price and in a timely manner to meet the burgeoning demand,” says Yield Growth CEO Penny White.
Yield Growth is also looking into regulations which would allow it to sell its Urban Juve hand sanitizer in other countries where Urban Juve products are sold, including the United States.
In the spirit of gratitude, Urban Juve has also initiated a campaign to support frontline healthcare workers. The selfless dedication of the care aides, cleaners, kitchen staff, management and everyone involved with caring for the most vulnerable among us at this critical time, deserve recognition and gratitude. Urban Juve is presently delivering 500 products as a donation to several senior care facilities in the immediate area.
“The secret to crisis is empathy, ” says Bhavna Solecki, Yield Growth Director of Product Research. “Crisis management becomes a social responsibility of every company by taking meaningful steps and collective actions in decision making. When the extent of the pandemic crisis became apparent our team rallied to speed up the commercialization of our hand sanitizer. I am proud to be part of a team that is able to quickly leverage its knowledge and experience to research, develop and bring to market products that are of immediate necessity.”
Other related developments from around the markets include:
Clorox Co. (NYSE:CLX) announced that its board of directors has declared a quarterly dividend of $1.06 per share on the company’s common stock. The dividend is payable May 8, 2020, to stockholders of record as of the close of business on April 22, 2020. Clorox has a long history of providing value to its shareholders through regular dividend increases.
Kimberly Clark Corp. (NYSE:KMB) announced it has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2020 World’s Most Ethical Companies. “At Kimberly-Clark, we are inspired to make lives better for people all around the world,” said Jeff Melucci, Kimberly-Clark’s General Counsel. “Being named to this list reflects the commitment of our global employees to our values of accountability and authenticity.” “We take pride in conducting business with the highest ethics and an unwavering commitment to doing the right thing in all that we do,” said Kurt Drake, Kimberly-Clark’s Chief Ethics & Compliance Officer. “Our high expectations for compliance allow us to earn the continued trust of our customers, consumers and shareholders.”
Huntsman Corp. (NYSE:HUN) announced it will begin making hydro alcoholic solution to produce hand sanitizer in the Swiss Canton of Vaud and the General Hospital in Lausanne, Switzerland. At its manufacturing site in Monthey, Switzerland, Huntsman will produce approximately 50 tons of hand sanitizer to donate free of charge to hospitals and pharmacies, which are now facing increasing shortages due to the COVID-19 pandemic and constrained supply of the product. The first shipment of five tons is expected to be delivered immediately. More production is planned to ensure a stable supply of between three tons and five tons per week as required to help safeguard medical staff, patients and the public. In recent weeks, Huntsman contributed its chemical products to the fight against the coronavirus COVID-19 in China. The company donated methylene diphenyl diisocyanate (MDI) to enable the manufacture of prefabricated polyurethane insulation panels for hospital construction, and TEROL® polyester polyols, ZEROSTAT® NWand PHOBOL® NW-MD, to manufacture personal protective equipment (PPE) for medical personnel fighting the coronavirus. “We are very humbled to be in a position to contribute what we do every day to help in the fight against the COVID-19 pandemic,” said Peter Huntsman, Chairman, President and CEO of Huntsman Corporation. “As this virus makes its way to every continent, we will continue to leverage our experience and knowledge in other regions, including the U.S.”
Kroger Co.’s (NYSE:KR) Board of Directors today declared a quarterly dividend of 16¢ per share to be paid on June 1, 2020, to shareholders of record as of the close of business on May 15, 2020. The company’s quarterly dividend has grown at a double-digit compound annual growth rate since it was reinstated in 2006. The company continues to expect, subject to board approval, an increasing dividend over time. Kroger’s capital allocation strategy is to use its free cash flow to invest in the business and drive profitable growth while also maintaining its current investment grade debt rating and returning capital to shareholders. The company actively balances the use of its adjusted free cash flow to achieve these goals.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media which has a partnership with www.MarijuanaStox.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media, which has a partnership with www.MarijuanaStox.com, is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement between Winning Media (partners of www.MarijuanaStox.com) and The Yield Growth Corp., Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for The Yield Growth Corp. We own ZERO shares of The Yield Growth Corp. Please click here for full disclaimer.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
