Diamonds and Dogs

8/1/19

Kellogg (K) having a good day. The consumer branded food maker is up 8%, its biggest one-day gain in 19 years, to an eight month high following earnings. Kellogg's sales grew 3.0% to $3.46 billion thanks to better innovation, momentum on revitalized snacks brands, better price realization, and continued expansion in emerging markets.

Plenty of dogs to day. Beyond Meat (BYND) is down 11% following the pricing of a secondary offering. Royal Dutch Shell (RDSA) is down 5% to a five month low following earnings, Prudential (PRU) is down 8% to a four month low, Yeti (YETI) is down 7%, but the dog goes to Fitbit (FIT) down 18% to an all-time low on earnings. Since coming public in 2015, Fitbit's stock has an annual return of -30%. Not good.

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