Diamonds and Dogs

9/6/16

FANG stocks are back. Facebook, Amazon, Netflix, and Google are all trading higher. Facebook (FB) and Amazon (AMZN) are at new 52 week and all-time highs. No news on either today. After doubling in 2015, Amazon is up 14% year to date while the Retail index is unchanged for the year. Amazon is definitely changing the retail environment, making tougher on the brick and mortar companies.

Good news for Navistar is bad news for Cummins (CMI). Cummins is coming under pressure down 6% after rival engine maker, Navistar struck a deal with Volkswagen to buy a substantial stake in the firm. One analyst suggested a strengthened Navistar is not good news for Cummins as it could potentially lead to lower market share/margins down the road. We'll see.

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