Diamonds and Dogs

9/4/24

Seagate (STX) leading the tech rebound on raised guidance at their quarterly conference. Ironically, the raised guidance is still below Wall Street consensus estimates, but any news is good news right now in the tech space. TD Cowen raised their price target on Seagate recently with a $130 price target.

Retailers are taking it on the chin. Dollar Tree (DLTR) is down 20% following missed earnings and sales guidance. The company also lowered third quarter estimates along with guiding 2025 earnings below consensus. Dollar Tree is following Dollar General's disappointing earnings last week. Both are blaming a strapped consumer, but analysts are also blaming Walmart and the big box makers. Dicks and Hormel are also lower on earnings.

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