Diamonds and Dogs
8/27/13Western Digital Corporation (WDC)
Western Digital Corporation is trading in the red today, down 5.19% at $61.44. The digital content company saw its shares fall after Forbes released an article regarding Western Digital's short positions. The article which was published today stated that WDC is the 42nd most shorted stock in the Nasdaq 100, replacing Amgen. The news drove down shares $3.36 today, however Western Digital shares are still well above their 52-week low of $32.25.
DSW Inc. (DSW)
DSW tied its shoes tight and racing higher today, up 7.91% at $87.75. The footwear and accessories retailer saw its shares jump after better than expected earnings. For the second quarter, DSW reported net income of $33.7 million, or $0.73 per share, that compares with a profit of $29.3 million or $0.65 per share a year earlier. Revenue increase 9.7% to $562 million due to an increase of 4.4% in same-store sales. Wall Street analysts were expecting revenue to come in at $559.7 million. The solid quarter helped DSW's stock climb more than $6.40 per share and reach a new 52-week high of $88.73 intraday.
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.