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SDVKY - Fastenal Will Be Fine But Watch The Short-Cycle Recovery Story
Sandvik AB ADR
It’s still very early in the reporting cycle, but these first few reports maybe ought to have investors reconsidering the popular second-half short-cycle rebound assumption. Fastenal (FAST) did okay relative to expectations, but the business has definitely slowed and management gave no indications that they see conditions improving soon. Add in similar reports from MSC Industrial (MSM), Sandvik (OTCPK:SDVKY), and Yaskawa (OTCPK:YASKY) and it’s too early too panic, but maybe the right time to start refreshing that “buy when a pullback happens” list.