Fast turns: Winona-based Fastenal, maker of factory and construction supplies, is routinely the first Minnesota-based company to report calendar-quarter results. On Wednesday, it announced a double-digit sales increase for the third quarter, but investors were alarmed by the pressure that rising freight costs had on its profits. Its shares fell 7 percent that day and were down 2 percent for the week.
Delta soars: Travel demand surged through the summer and Delta Air Lines, the biggest carrier in Minnesota, was able to lift ticket prices and its profit in the July-September quarter. The airline’s shares jumped 4 percent on Thursday, the day it reported results, but ended the week down 0.6 percent.
Paint thinner: When PPG Industries warned Tuesday of higher material costs, its stock tumbled and took other paint and home-goods companies along with it. That included Sherwin-Williams Co., now owner of Minneapolis-based Valspar paints. Its shares fell 5 percent on Tuesday. They closed down 13 percent for the week.
Less luxurious: LVMH Moet Hennessy Louis Vuitton SE, the world’s largest luxury products firm, reported slower sales growth in China, a key market, during the third quarter. Its shares tumbled 7 percent in Paris on Wednesday and weighed down other luxury stocks. LVMH closed the week down 7.3 percent.
McScramble: McDonald’s franchisees met this week to discuss how to lift sales that haven’t kept up with costs to update restaurants. McDonald’s shares fell 4 percent Thursday and 2 percent for the week.