Diamonds and Dogs

8/7/24

Drill baby, drill. Devon Energy (DVN) is up 3% following better than expected earnings and raised production guidance. Oil production was up 7% year over year while natural gas production was up 10%. Devon continues to buy back stock and expanded their buyback to $5 billion or 18% of their market cap.

Summer travel season seems to be winding down. Airbnb( ABNB) is down 15% to a 52 week low after missing earnings as sales were inline. Airbnb expects a record summer season, b the third quarter is seeing shorter booking lead times which is a sign of slowing demand particularly from US guests.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.