Diamonds and Dogs

11/24/20

The banks are back. Wells Fargo (WFC) is up 9% to a five-month high on an upgrade at Raymond James. The banking sector is up over 20% in the last three weeks. The rotation continues.

Profit-taking in Best Buy (BBY). Consumer electronics retailer is down 5% following earnings. The earnings were better than expected as sales rose 21.4% to $11.85 billion. But Best Buy declined to offer guidance for the holiday quarter, citing uncertainties related to the coronavirus pandemic. The lack of outlook drove Best Buy stock lower.

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