Diamonds and Dogs
5/6/20
General Motors (GM) trading up 4% following earnings. Full-size pickup deliveries soared 27% in the first three months of the year, with the government shutdown only disrupting the last couple weeks of the quarter. GM has suspended their dividend and share-buyback program while boosting their borrowing to amass $33.4 billion of cash that should sustain the company through months of uncertainty. GM also said it hopes to have U.S. and Canadian operations back up-and-running by May 18th.
No sports hurts guidance for Electronic Arts (EA). The video game maker is down 4% after beating earnings estimates even as sales fell 11%. EA went on to lower guidance warning that the disruptions, postponements and or cancellations of sports seasons and sporting events could impact sales of popular sport simulation titles like FIFA and Madden NFL.
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.