Diamonds and Dogs
Gold (GLD) shining brightly. Gold rose nearly a percent today back to levels not seen since November as the U.S. military dropped "the mother of all bombs" in Afghanistan to fight ISIS. The U.S. used the 21,000 lb GBU-43 bomb on a cave complex believed to have ISIS fighters, according to the Associated Press. The bomb had ever been used in combat, according to Adam Stump, the Pentagon spokesman.
Pier One (PIR) left the harbor. The furnishings and decor retailer dropped 9% to a new low for the year following lackluster earnings and lower guidance. Going forward, the company plans more store closures. It's hard to blame investors for bidding shares down, given the combination of Pier 1's modest growth, wider-than-expected loss in the near term, and shrinking store base.
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