Diamonds and Dogs
Once highflyer no more. Chipmaker, Ambarella is down 12% following strong earnings, but cautious guidance for the third quarter. Ambarella's stock this year more than doubled by June, but has since dropped 40% due to an overvaluation and slowing sales of GoPro cameras. I doubt Ambarella will be the only company providing cautious comments about the third quarter. Could be a rough ride.
American Airlines flying higher today with the broader market. American (AAL) and the airlines in general are still on track to report record earnings this year thanks to a strong US economy and lower oil. However the stocks have underperformed until recently due in part to consolidating big gains from the previous years. In the last couple months, the airlines have held up well as the broader market sold off. The airline may regain their momentum as market leaders into year-end.
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