Diamonds and Dogs
Energy looks good. The worst performing sector in 2017 and year to date is getting a bounce today. Conoco (COP) is up 2%, EOG and Apache (APA) are up 3% and South American oil company, Geopark (GPRK) is up 4% as the price of oil moves to new recent highs of $63.50 a barrel. With the tech sector coming under pressure, the energy sector should start to outperform.
Oracle (ORCL) doesn't look so smart. The cloud software firm is down 10% back to the July highs following underwhelming earnings. The company actually beat earnings estimates on inline sales, but slow cloud revenue growth has analysts concerned that the transition to the cloud is taking longer than initially expected. KeyBanc analyst said that Oracle's cloud competitors Microsoft, Salesforce and Amazon Web Services are growing faster than Oracle and it may be difficult for Oracle to catch up.
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