Diamonds and Dogs

1/23/19

Blue chips having a good day. IBM (IBM) is up 8% while P&G (PG) and United Tech (UTX) are up 6% following better than expected earnings. IBM beat expectations and actually raised earnings guidance ahead of the merger with Red Hat. P&G (PG) beat earnings expectations as organic sales increased 4%. United Tech beat expectations by 27% as revenues rose 15.1% to $18.04 billion, 7% above expectations.

Capital One (COF) not in your wallet. The credit card company is down 6% after missing expectations by a wide margin as sales were flat at $7.01 billion. Provisions for credit losses increased 29% to $1.6 billion. Not a good sign. One analyst said the quarter was "confidence shaking" with "disappointing" revenue growth, elevated expenses, and an upfront investment associated with signing up Walmart.

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.