Diamonds and Dogs
Seattle companies are having a good day pushing the Nasdaq to a new 15 year and all-time high. Seattle based Amazon (AMZN), Microsoft (MSFT), and Starbuck (SBUX) are all trading higher thanks to strong earnings. Amazon is jumping 14% to a new all-time high thanks to strong retail earnings and their cloud computing business that management expects to rival their retail business in the future. Microsoft is up 10% thanks to their strong cloud computing business which overcame slower PC window's sales. The final Seattle based company, Starbucks rose 4.8% to a new all-time high following strong coffee earnings particularly out of China.
3D Systems (DDD) and 3D printing is having trouble printing green today. 3D Systems fell 10% closing not far from its 52 week low following disappointing earnings and lower guidance. The company blamed their disappointing earnings on weak foreign currencies and the decline in oil prices curbing sales from their aerospace, automotive and health care customers. Maybe they should've said the dog ate their earnings?