Diamonds and Dogs


 The Airlines are flying higher. American Airlines (AAL), Southwest (LUV), Delta (DAL) and United Continental (UAL) all opened higher trading at new recent highs following the SEC disclosure last night that Warren Buffett and Berkshire Hathaway made an investment in the airline sector last quarter. The airlines have been acting a lot better, but getting a recommendation from a legendary investor doesn't hurt.

Not so sporty holiday. Dicks Sporting Goods (DKS) is down 6% after the sports retailer said fourth quarter results likely won't meet analyst expectations. Dick's reported adjusted third-quarter earnings per share of $0.48 on revenue of $1.81 billion, better than the $0.42 per share on revenue of $1.77 billion. But the fourth quarter earnings look to be in a range between $1.19 and $1.31 per share, below estimates of $1.32 expectations for the period. The company does expect same store sales in the holiday quarter to increase between 3% and 6% compared Wall Street expectations of a 4.2% increase.

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