Diamonds and Dogs
Go to Macy's and support our diamond today, Ralph Lauren (RL). The stock is up over 16% or $18 to new recent highs thanks to better than expected earnings. Ralph Lauren has been riding a wave of positive news the last several weeks. First, the company hired away one of the top guys at Gap's Old Navy division to become their next CEO and COO. Then besides the better than expected earnings, Ralph Lauren issued upbeat guidance for the holiday quarter and a plan to reorganize operations to save roughly $100 million in annual costs. Things are looking up for Ralph Lauren.
FireEye (FEYE) has a black eye following disappointing earnings. The stock is down over $6 or 22% after missing earnings estimates and lowering full year guidance. The company specializes in cyber security for businesses that transport confidential information through the internet. The company blamed the disappointing results and guidance in part to President Barack Obama and Chinese President Xi Jinping's announcement between the two countries to not conduct or knowingly support cyber-enabled theft of intellectual property. A reduction in cyber attacks is a bad thing? Interesting.
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