Notes From All Over -- The Weber Edition -- July 23, 2021

Another day, another record: Dow could close above 35,000 for first time ever....intra-day, it's been above 35,000 before. At least that's what I'm seeing on CNBC but I might have that wrong. Fact check, please. From Yahoo!Finance:

Cautious optimism in the face of rising coronavirus cases nudged the Dow within view of its record high above 35,000 on Friday, with the S&P 500 notching a marginal new record.

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Time To Grill

From The WSJ:

The searing market for newly public companies has a new obsession: grills. Two leading sellers of outdoor grills and grilling accessories, Weber and Traeger, both filed paperwork for initial public offerings earlier this month, while online grilling-and-outdoor-products retailer BBQGuys on Tuesday agreed to go public by combining with a special-purpose acquisition company. The merger values BBQGuys at about $960 million.

Traeger is known for its pricier wood-pellet grills and said on Wednesday that it plans to raise about $400 million in its IPO, which would value the company at around $2 billion. The Salt Lake City-based firm is aiming to price its shares between $16 and $18 under the ticker symbol COOK.

All three of the companies have been around for a long time but are seeking to cash in on sudden excitement fueled by the coronavirus pandemic. Weber, Traeger and BBQGuys each reported a recent sales surge as more consumers refurbished their backyards and became barbecue enthusiasts, tapping into one of the stay-at-home themes that have dictated much of the stock market’s performance in the past 15 months.

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The Rest

How to ruin a great conference call: each time that raw materials surge, some consumer companies struggle with price risk management. This time, Whirlpoool says it's better prepared because .... and I can't make this up .... "Whirlpool uses Excel spreadsheets." 

Texas upstream: job growth surges 94% for June, 2021. Link here. 

For those who understand math: ExxonMobil flashing green. Link here.

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Domino's: stock hits record; $1 billion buyback in place.