Diamonds and Dogs

5/16/23

Warren Buffett likes Capital One (COF). The credit card giant is up 2% as it was disclosed in a 13f filing that Warren Buffett had bought 9.9 million shares or nearly a billion dollar investment. At the same time Mr. Buffett was selling other bank positions. Capital One stock is still down 50% in the last year, dragged down with the other financials and banks.

Home Depot (HD) sees a slowing economy. The home improvement stock is down 2% following lackluster earnings. Earnings beat by a penny, but sales fell 4.2% and the company lowered guidance going forward. Analysts have already been bringing down their earnings per share and revenue estimates. Home Depot saw a tapped out consumer pulling back their home improvement budgets.Home Depot shoppers also seem to be shying away from big-ticket discretionary items as overall same-store sales fell harder than expectations.