Diamonds and Dogs

7/3/18

Herman Miller (MLHR) performing well. The furniture maker is up 10% not far from a 52 week high after beating earnings by 8 cents as revenues rose 7.1% year/year to $618 million. The company issued inline guidance going forward and increased the dividend 10% to reflect management's confidence in business fundamentals.

Tech taking a break. Facebook (FB) is down 2% after a report that a federal probe on the data breach linked to Cambridge Analytica had been broadened and would include more government agencies. Facebook has faced intense scrutiny around the Cambridge scandal, which saw millions of users' data improperly accessed by the political consultancy. The Federal Bureau of Investigation, the Securities and Exchange Commission and the Federal Trade Commission have joined the Department of Justice in its inquiries about the two companies and the sharing of personal information of 71 million Americans, the Washington Post reported citing five people.