Diamonds and Dogs

7/12/17

Airlines look good. American Airlines (AAL)is up nearly 4% to a new 52 week high after raising second quarter guidance thanks to higher passenger yields. Airliner, UAL (UAL) is up 4% not far from a 52 week high thanks to an upgrade at Cowen with a $82 price target.

Not so fast. The industrial wholesale distributor, Fastenal (FAST) initially rose this morning following better than expected earnings, but then reversed course falling 2% on further news the company was cutting the number of branches in the second quarter by a net 26 to 2,451. That's down nearly 6% vs. a year earlier. Wells Fargo downgraded the stock with a $47 price target.

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.