Diamonds and Dogs
Buying defensive stocks and defense companies has worked the last few weeks. Today, defense company Northrop Grumman (NOC) is the diamond of the day up $10 or 6% following better than expected earnings and raised guidance. The stock broke through resistance of around $172 today so there may be more upside for Northrop in the coming weeks and months. Most stocks can't say that.
Twitter (TWTR) continues it swoon falling 14% to within points of its all-time low since coming public in 2013. The cause of the stock decline was earnings last night. Growth has slowed for Twitter and management acknowledged that sustained meaningful growth will start when Twitter reaches the mass market and management doesn't expect that to take place for a considerable period of time. No growth, no strategy, and no CEO is no way to run a successful public company.
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