Diamonds and Dogs
Dunkin Donuts (DNKN) surged 7.94% today, it biggest daily percentage gain since the company's 2011 IPO, after the company reported a better-than-expected 2.7% comparable-sales gain at its U.S. Dunkin' Donuts stores, which account for 75% of its sales. Same-store sales jumped 8% at U.S. Baskin-Robbins, which accounts for 6% of sales. Currently Dunkin is testing a new product, the bacon donut in current parts of the country. For health reasons, let's hope it doesn't catch on.
Shares in 3M (MMM) came under pressure today falling 3% after the US manufacturer behind Post-it notes and Scotch tape lowered its full-year outlook and said first-quarter results were squeezed by the strength of the dollar. The strong dollar is public enemy number 1 this quarter for US multinational companies. A good reason why many small cap or US centric companies are outperforming the broader market.