Diamonds and Dogs

2/5/25

Amgen (AMGN) jumps 6% lifting the Dow as sales rose 11% while 10 products posted double digit growth in the quarter. Amgen's stock surged even as the FDA placed its obesity treatment on clinical hold. Management still expects to eventually develop the treatment. Amgen raised its dividend to $2.38 per share for the first quarter, up from $2.25.

Google/Alphabet (GOOG) is down 7% following earnings last night. Google gets most of its revenue from advertising, but it is working hard to become an AI stock with AI capabilities in their search similar to ChatGPT and DeepSeek. Alphabet said it plans to invest as much as $75 billion in capital expenditures this year, much of which is expected to go toward expanding its artificial intelligence infrastructure to meet demand. China also singled out the company for possible tariff restrictions, but Google gets little to nothing in business out of China.