Diamonds and Dogs

1/15/25

Good day for the markets and the banks. JP Morgan Chase, Wells Fargo, Citigroup, Goldman Sachs, Blackrock and BNY Mellon are all higher by 2% or more following earnings this morning. Goldman and Wells Fargo are up 5% while the big winner is Citigroup (C) up 7%.

Profit-taking in Lululemon (LULU). The athletic apparel maker is down 2% after dropping 3% yesterday. Lululemon did provide better than expected guidance the other day after speaking at a retail conference. Management said business was strong during the holiday season thanks in part to global expansion plans. The sell off could be due to the run up ahead of this conference. Needham did upgrade the stock with a $475 price target.

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