Diamonds and Dogs

5/19/20

Amazon (AMZN) is up 2% to an all-time high as they expand into Central New York and look to acquire assets in the JC Penney's bankruptcy. Amazon is looking to possibly buy JC Penney's apparel business and some of their real estate while Amazon will build a $350 million distribution center outside Liverpool NY along the highway.

Profit-taking in Home Depot (HD). Home Depot is down 2% as they saw solid demand in the first quarter, but earnings took a hit from the pandemic. Sales were up 7.1% to $28.3 billion ahead of estimates, but earnings missed estimates as the company spent $640 million to help out their employees with expanded paid time off, weekly bonuses, and extended dependent-care benefits. A good sign from a publically traded company.