Diamonds and Dogs

2/27/20

Hip to be Square (SQ). The transaction processing company was up 3% following better than expected earnings. Square beat by 2 cents as revenue grew 41% year over year to $1.31 billion. Square's peer-to-peer payments and money-transfer app had approximately 24 million monthly active users in December, the company said, and revenue increased 147% year over year to $361 million. Canaccord Genuity upgraded the stock saying their Cash app was on a tear.

More preannouncements. Microsoft (MSFT) fell 7% after lowering guidance due to the coronavirus. Basically, every publicly traded company may preannounce due to the virus. The first quarter earnings will be ugly, but hopefully it's a short-term problem.