Diamonds and Dogs


Warren Buffett likes Synchrony Financial (SYF). The financial stock is up 3% on news that Warren Buffett and Berkshire Hathaway bought roughly 17.5 million shares as of June 30, worth a little more than half a billion dollars. All the hedge fund, private equity firms disclosed their holdings in the last few days. Synchrony currently trades for 10 times earnings and yields 2%. Buffett's purchase may be adding a kicking to the stock performance going forward.

Another bad day for retailers. Advance Auto Parts (AAP) is down 16%, Coach is down 12%, but the dog goes to Dicks (DKS) down 17% following disappointing earnings and guidance. The sporting goods retailer missed estimates on in-line sales, but then guided lower for the third quarter and the full year. Besides Amazon, one culprit for weaker sales and guidance for Dicks came from slowing gun sales.

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.