Diamonds and Dogs
Plenty of dogs today. Goldman Sachs (GS) is down 2% on news their CEO has cancer. The CEO and the doctors believe he has a really good chance to make a full recovery and long term this sell off is a buy. Potash (POT) the fertilizer company is down 7% to a new 52 week low and close to its 2008 low of around $20 a share. Potash like most commodity related stocks is in a tough spot, looking to survive this commodity deflation environment.
Not many stocks higher today. Carnival, Lennar, Red Hat, CarMax, ConAgra, Darden Restaurants all reported strong earnings, but due to market weakness are trading lower. Autozone (AZO) is one of the few diamonds trading up a percent following better than expected earnings. For the year, the company has reported a profit of $1.16 billion, or $36.03 per share. Revenue was reported as $10.19 billion. This is a tough market to report earnings in.