Diamonds and Dogs
World Wrestling Entertainment (WWE)
WWE saw a 19% increase in its share price today after reporting a positive earnings report. EPS came in at 7-cents a share, above estimates of a 1-cent loss, compared to one year ago when the company posted a loss. Profit growth came primarily from the growth of WWE network, as the number of subscriptions was up 75% from the previous year. The entertainment company has a strong and loyal following, so there could be more quarters like this in its future.
Linn Energy (LINE)
Linn Energy continues to get crushed today as its stock price is down 26% to under $5. After reporting its earnings early this morning, Linn Energy saw downgrades and a large sell-off. The company has seen a large decrease in revenue of 46%. Investors were also extremely pessimistic about the fact that the company wants to suspend its dividend, which is not a good sign for the financial standing of this company. Energy companies have been beaten up recently, and the woes may not end for Linn Energy.
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