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A software firm promoting AI. GitLab (GTLB) is jumping 23% following better than expected earnings as management said they are using AI in their software to drive efficiencies, increase productivity, and accelerate their pace of innovation. More regulation for cryptocurrency. The industry's biggest exchange, Coinbase (COIN) is down 20%... Read More
Merger Monday. Industrial machinery maker, Circor International (CIR) jumped 51% after private equity firm, KKR announced they are willing to pay $1.6 billion to take the pump and valve flow control company private. Circor, makes pump and valve systems for sectors including oil and gas, industrial, aerospace and... Read More
Materials had a good day. Materials and other economically sensitive stocks had a good day with Caterpillar (CAT) jumping 8% while Deere (DE) rose 5%. No news other than weaker than expected hourly earnings and a higher unemployment number giving the Fed ammunition to pause their rate hikes and... Read More
People are still spending on their pets. Pet retailer, Chewy (CHWY) is jumping 25% after easily beating estimates, returning to profitability while sales rose 14%. Chewy also raised estimates as consumers continue to spend for their quality and value brands. Dollar General (DG) takes a hit on economic woes. The... Read More
Intel (INTC) one of the few chip stocks trading higher. The former number one chipmaker is up 4% after raising quarterly guidance to the high end of the range. Like most chip stocks, Intel is benefiting from soaring demand for artificial intelligence (AI) chips. Their foundry services could produce... Read More
Nvidia (NVDA) market cap hits a trillion. Demand for Nvidia's AI chips keeps going up which means better profits and better sales. Only four other US stocks have hit the trillion-dollar mark and fewer than 10 companies globally. 42 million travelers haven't helped the price of oil. The price of... Read More
Nvidia (NVDA) led rally. The AI chipmaker is up over 25% following earnings and strong guidance. Nvidia forecasted a huge jump in revenue, signaling how vastly the broadening use of artificial intelligence could reshape the tech sector. The California company is close to joining the exclusive club of $1... Read More
Kohls (KSS) and Abercrombie and Fitch (ANF) are up 7% and 30% respectively following better than expected earnings. Kohls reported a surprise profit thanks to reduced inventory, improved productivity and better than expected demand at Sephora division. Abercrombie also reported a profit as the retailer steered away from... Read More
Apple gives a thumbs up to Broadcom (AVGO). The chipmaker is up 2% as Apple announces a new multiyear, multibillion-dollar agreement to work with Broadcom to develop 5G radio frequency components and other wireless connectivity components. In the current climate of geopolitical tensions between the U.S. and China, and... Read More
Pfizer (PFE) jumps on drug data. Pfizer is up 4 %as their diabetes drug resulted in weight loss similar to that of Novo Nordisk's Ozempic in a mid-stage study testing it in patients with type 2 diabetes, according to data published in a medical journal. The weight-loss treatment market... Read More
Cisco Systems (CSCO)is 2% following earnings the other day. The switch and router company is rebounding following earnings Wednesday night. Cisco easily beat while revenues rose 13.5% year over year to $14.57 billion. The company also provided upside guidance for the current quarter. Foot Locker (FL) having a bad day.... Read More
Walmart's (WMT) looks good up 2% following earnings and encouraging guidance. The world's largest retailer reported first-quarter same-store sales growth that beat expectations as consumers traded down from traditional supermarkets and slowed purchases of discretionary merchandise from rivals like Target. Walmart also raised its full-year earnings per share forecast... Read More
Banks are having a good day. Western Alliance (WAL) is up 12% after saying their deposits have increased by more than $2 billion since the end of the first quarter. The SPDR S&P Regional Bank ETF (KRE) is up 7.2%, bolstered by short-covering activity. Other bank... Read More
Warren Buffett likes Capital One (COF). The credit card giant is up 2% as it was disclosed in a 13f filing that Warren Buffett had bought 9.9 million shares or nearly a billion dollar investment. At the same time Mr. Buffett was selling other bank positions. Capital One stock... Read More
Shake Shack (SHAK) jumps 9% as activist investor looks to shake up the company with three new board members. Engaged Capital is a hedge fund with a 6.6% stake in Shake Shack looking to add board members to bolster the share price which has been nearly cut in half... Read More
Insider buying at Icahn Enterprises (IEP). Carl Icahn's holding company is up 11% after authorizing a buyback equaling 3% of its shares trading on the open market, potentially boosting the stock price as the financier feuds with a short seller. Over the last month, the stock is down 30%... Read More
Google (GOOGL) jumps 4% on you guessed it AI news. Google at their I/O 2023 Conference announced the launch of a new AI-driven search in response to Microsoft's new AI developments. The moves are meant to prove that Google, which helped pioneer the technology behind Microsoft partner OpenAI's ChatGPT,... Read More
Upstart Holdings (UPST) having a good day. The AI lending platform is jumping 35% after issuing upbeat revenue outlook for its fiscal second quarter, saying it would break even on adjusted earnings before interest, taxes, depreciation, and amortization in the period. The company also said it secured multiple long-term... Read More
Trex (TREX) jumps on earnings. The manufacturer of wood-alternative decking is u p9%, having its best day in six months, after beating earnings and revenue numbers while also providing strong guidance. The housing market hasn't had an easy year as mortgage rates remain elevated and home supply stays low.... Read More
Six Flags (SIX) is ready for the summer. The theme park stock is jumping 20% after reporting first-quarter financial results that showed travelers are returning to in-person entertainment venues with a vengeance. Six Flags believes the summer could bring even better results ahead. Tyson Foods (TSN) drops on a... Read More
Apple (AAPL) continues to shine. The iphone giant jumped 3% closing in on all-time highs following earnings. Earnings were not great, beating by 9 cents as sales fell 2.5% to $94.84 billion. Sales did beat estimates as iPhone revenue of $51.3 billion beat estimates and beat sales from last... Read More
A dog yesterday and a diamond today. Chipmaker, AMD (AMD) is jumping 8% today after dropping 8% yesterday on lackluster earnings. Today news broke that Microsoft will work and help finance AMD's expansion of AI chips processors. The two companies will team up to provide an alternative to... Read More
Eli Lilly (LLY) performing well on Alzheimer's drug data. Eli Lilly stock is up 6% today and up 30% in the last two months thanks to their experimental Alzheimer's treatment showing significantly slowed cognitive decline in people with an early stage of the disease. Eli Lilly plans to file... Read More
Uber (UBER) one of the few stocks trading higher. The ride-sharing giant is up 11% following strong earnings and guidance. Gross bookings for the company jumped 19% year-over-year, while the company's Mobility business continued to improve with revenue climbing 40% year-over-year. International sales are picking up while Uber's advertising... Read More
JP Morgan (JPM) rose 2% as the blue chip bank is taking over regional firm, First Republic after going into receivership this weekend. JP Morgan will over $174 billion in loans, $30 billion in securities and 492 billion in deposits from the defunct regional bank. CEO, Jamie Dimon... Read More
Intel (INTC) bouncing pretty good. The chip giant is up 4% to new recent highs after beating earnings estimates, but actually lost money. Sales fell 36% to $11.71 billion. Management said margins should improve throughout the year while they also commented they are halfway through the chip industry correction.... Read More
Facebook/Meta (META) soars following earnings. Meta jumps 15% after the company reported a surprising rebound in digital advertising sales, allowing the company to keep pouring money into speculative businesses like artificial intelligence and virtual reality. CEO, Zuckerberg explained how artificial intelligence technology has already helped the company choose... Read More
Microsoft (MSFT) had a good day. The software giant rose 7% following strong earnings and strong showing by its cloud computing businesses. The company also guided higher for the current period showing demand is resilient for enterprise and cloud software. First Republic Bank (FRC) drops nearly 30% following earnings... Read More
Merger Monday. Getty Images (GETY), the photo and imaging company is jumping 38% after receiving a buyout offer from Trillium Capital for $10 a share. This following an open letter from Trillium telling Getty's board to find a buyer. Apparently, over the last two weeks, Trillium has decided to... Read More
Boring is beautiful. P&G (PG) is up 3% not far from a 52-week high following earnings. The consumer staple beat by 5 cents as revenues rose 3.5% to $20.07 billion. P&G mentioned consumers are being more careful with their usage of product they bought. But P&G did say the consumer... Read More
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.