Diamonds and Dogs
C3.ai (AI) jumps 29% on better-than-expected results for its fiscal third quarter. The provider of artificial intelligence software beat by 16 cents as revenues fell 4.4% to $66.67 million. The company provided upside guidance seeing tailwinds from improved business optimism and increased interest in applying C3 AI solutions to address an increasing range of applications across a broad range of industries.
Costco Wholesale (COST) is down 3% after the warehouse club reported disappointing fourth-quarter earnings yesterday that just missed Wall Street's top-line estimates, but exceeded them on the bottom line. Costco said it generated $3.30 per share in profits on $55.3 billion in sales for the period, a bit of a mixed bag for the retailer as analysts were looking for $3.21 per share in profits, but $55.5 billion in revenue. There is a growing consensus that the U.S. consumer is going to come under increasingly difficult-to-ignore pressure this year, and Costco will not be immune from the impact.
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