Molson Coors Brewing Co. is surging as international sales and cost cuts power profit growth to the best among its peers while job gains stoke prospects for a pickup in U.S. sales.
Just before 1 p.m. on June 9, 5,700 options tied to Clorox Co. were bought on U.S. markets for about $170,000. Traders snapped up the underlying stock and within half an hour, more than $450 million had been added to the bleachmaker’s shares.
The Standard & Poor’s 500 Index slipped, halting a four-day streak of record closes, as investors weighed equity valuations. The Dow Jones Industrial Average closed at an all-time high.