We’re pleased to see P&G shares pop on solid quarterly earnings. But don’t chase the rally

Boxes of Crest toothpaste owned by the Procter & Gamble company are seen on a store shelf on October 20, 2020 in Miami, Florida. 

Joe Raedle | Getty Images

Procter & Gamble shares jumped more than 4% on Tuesday following better-than-expected quarterly earnings that were released before the opening bell. While sales missed the mark, profitability was solid, excluding charges related to writing down the value of Gillette and non-core restructuring measures. P&G raised the low end of their full-year EPS guide.