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Great deal for NY Community Bancorp (NYCB). The Long Island regional bank is up 39% after FDIC announced they would acquire $38 billion in assets from defunct Signature Bank. In the deal, $25 billion is cash and $13 billion is in loans, some of this at a discount... Read More
At least one diamond as FedEx (FDX) is up 7%, the biggest gainer in the S&P 500, thanks to strong earnings and raised guidance. The shipping giant also raised its profit forecast due in part to cost cutting for the fiscal year, saying it sees earnings of $13.80 to... Read More
First Republic Bank (FRC) on a wild ride. After opening down 20%, First Republic is higher as reports are coming in that several banks have committed to provide deposits to Republic in the amount of roughly $27.5 billion or more to provide liquidity, but no equity rights. Ooh Snap (span... Read More
Adobe (ADBE) jumps on earnings. Adobe is up 4% thanks to record revenue and raised guidance. Tech in general had a great day as investors moved out and away from the financial industry. More banking Issues. This time, Switzerland's second-biggest lender, Credit Suisse (CS) is down 20% on concerns of... Read More
Relief rally in the banks. Regional banks like PacWest Bancorp (PACW) is up 30% today as the FDIC moves to bolster support and confidence in the banking industry. Pac West has seen notable insider buying over the last couple of days worth over $566,000. Airlines paying up for their... Read More
Merger Monday. Drug company, Seagen (SGEN) jumped 14% after the drug company agreed to be bought out by Pfizer for $229 per share or $43 billion in cash. The combination enhances Pfizer's position as a leading company in Oncology while Seagen expects to contribute more than $10 billion in... Read More
Another bad day for the banks. Silicon Valley Bank (SIVB) traded down 65% premarket and never traded during normal hours as the regulators stepped in wind down and liquidate the firm as the biggest bank failure since the global financial crisis. Other regional banks are now coming under pressure... Read More
General Electric (GE) jumps 8% after reaffirming 2023 financial guidance Thursday while offering the first long-term growth outlook for its aviation business. GE stock rocketed to a nearly five-year high. The company also backed 2023 revenue growth and FCF outlooks for its aviation, power and renewable energy segments. It... Read More
General Electric (GE) jumps 8% after reaffirming 2023 financial guidance Thursday while offering the first long-term growth outlook for its aviation business. GE stock is near a five-year high. The company also backed 2023 revenue growth and FCF outlooks for its aviation, power and renewable energy segments. It continues... Read More
Crowdstrike (CRWD) is up 3% on earnings. The cloud computing software firm easily beat estimates as revenues rose 47.9% to $637.4 million. Crowdstrike also raised guidance for the current quarter and full year. Crowdstrike also received a couple upgrades from Citigroup and DA Davidson as one analyst called it... Read More
Dicks Sporting Goods (DKS) one of the few stocks trading higher today. Dicks is jumping 13% to new highs following better than expected earnings as revenues rose 7.3% to $3.6 billion. The retailer cited a sales boost from the gift-giving during the holidays even with inflation-weary consumers. Dicks is... Read More
Enphase Energy (ENPH) jumps 4% on an upgrade. Most solar stocks have been on tear even as natural gas prices which are down 14% thanks to the milder weather and reduced demand for natural gas over the winter months. Dexcom (DXCM) drops 8% as rival Abbott Laboratories (ABT)... Read More
C3.ai (AI) jumps 29% on better-than-expected results for its fiscal third quarter. The provider of artificial intelligence software beat by 16 cents as revenues fell 4.4% to $66.67 million. The company provided upside guidance seeing tailwinds from improved business optimism and increased interest in applying C3 AI solutions to address... Read More
Salesforce (CRM) had a monster quarter. The cloud computing software company stock jumped 12% thanks to better than expected earnings as revenue rose 14.4% to $8.38 billion. Salesforce also provided upside guidance as the company focuses on getting to higher levels of profitability. Management wants to be the most... Read More
Caterpillar (CAT) rises 3% helping lift the Dow after the construction and mining equipment maker said it reached a six-year "tentative labor agreement" with the United Autoworkers (UAW) union. Rivian (RIVN) lower by 19% on more supply chain issues. The electric truck and SUV maker beat earnings... Read More
Target (TGT) higher following earnings. The big box retailer rose 2% after easily beat estimates as sales rose a percent to $31.39 billion. This was the first quarterly beat of Wall Street's expectations for Target in a year, as it shifted its focus to selling more food and lower-priced... Read More
Electric-vehicle startup Fisker (FSR) is up 25% following earnings. The company flagged increased orders for its sports utility vehicle Ocean and maintained its production forecast for the year, sending its shares higher. Fisker said reservations for the first model of Ocean rose to more than 65,000 as of Feb.... Read More
Beyond Meat (BYND) jumps 9% after the maker of plant-based meat alternatives posted fourth-quarter results and a financial forecast that beat analysts estimates. The company also predicted that net revenue for 2023 will be about $375 million to $415 million, while analysts had penciled in $395.2 million. Beyond Meat... Read More
Nvidia (NVDA) jumps following earnings and raised guidance. The graphics chipmaker is up 14% even though sales were down 20.8% year over year. Nvidia did raise guidance, however, as the company expects gaming to rebound and sees an inflection point with AI chips setting up for a broad adoption... Read More
Palo Alto Networks (PANW) higher on earnings. The security software stock is up 11% to a six month as earnings easily beat and revenues rose 25.7% to $1.66 billion. The company also raised guidance as they continue to see strong demand for network security. Companies want to cut costs,... Read More
Molson Coors (TAP) rose 3% today following better than expected earnings and full year results that grew for the first time in 10 years. For the first time in 15 years, Molson's two top brands, Miller Lite and Coors Light outperformed competitor Bud Light. Another interesting industry stat was,... Read More
Deere (DE) jumps on earnings. The world's largest seller of tractors and crop harvesters rose 7% thanks to profits that more than doubled in the most recently completed quarter as higher prices and strong demand for farm and construction equipment lifted sales by nearly a third. Deere is now expecting... Read More
Croc's (CROX) jumps 7% to a new 52 week high on earnings. Croc's easily beat estimates as revenue rose 61.1% to $945.16 million thanks to strong growth in sandals and from international sales. Sandals are expected to be the fastest-growing product category in 2023 with sales reaching $400 million.... Read More
Martin Marietta Materials (MLM) jumping 7% following earnings. The construction conglomerate is up 7% to a 11 month high even though earnings were just in line. Sales actually fell 1.3% year over year to $1.48 billion. Martine Marietta is seeing some acceleration in public infrastructure investment and large-scale energy... Read More
Boeing (BA) gets a Valentine gift from India. Boeing is up 2% to an eleven-month high after receiving a big order from Air India. Air India will order up to 290 jets from Boeing including the 777, 737, and 787 models. Rival, Airbus received an order for 250 planes. Boeing... Read More
Zillow (ZG) jumps on an upgrade. The online real estate company is up 4% after the Evercore analyst expects the current quarter to be the bottom for home sales, raising his price target to $61 from $34 a share. Zillow accounts for 50% or more of all the online real-estate-related... Read More
DexCom (DXCM) jumps on earnings. The glucose monitoring (CGM) device maker is jumping 10% after beating earnings as revenue rose 16.8% to $815.2 million. Dexcom proved inline guidance, but may see upside guidance later in the year as the company introduces their new G7 glucose monitoring (CGM)... Read More
Casinos look good today. Wynn Resorts (WYNN) is up 5% while MGM Resorts (MGM) is up 7%, both following earnings. Earnings were not spectacular, but business and sales are improving and look to keep improving in 2023 as China reopens their economy. We will see. Buy now, pay... Read More
Mastercraft (MCFT) jumps to a new high on strong earnings. The recreational boat company stock is up 8% to a new 52 week high thanks to record quarterly profits and sales. The company also raised guidance thanks to strong demand. Demand for recreational boating took off during the pandemic... Read More
Oak Street (OSH) is jumping 30% after CVS agrees to buy the primary care center for $10.5 billion. CVS continues their expansion into the healthcare space after buying Aetna a few years ago and transforming their stores to more primary-care business to help individuals avoid costly hospital... Read More
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.