Diamonds and Dogs

4/4/24

Jeans are back. Levi Strauss (LEVI) is the diamond today up 17% after better than expected earnings. The blue jeans maker boosted profits by cutting costs, finding areas for increased efficiencies and focusing less on promotions. Levi's also saw record sales online instead of through its own shops or through department stores like Macy's and Kohl's where margins are lower.

Block, Inc (SQ) hit with a downgrade. The fintech stock is down 2% as Morgan Stanely downgraded to an Underweight and a $60 price target. Block has been under pressure the last several years down over 60% due to increased competition, but the stock has moved sideways the last sic months.