Diamonds and Dogs
Good news! With today's diamond your cellphone will still get service thanks to their chip. Chipmaker, Avago Technologies (AVGO) is the diamond today up 9% thanks to better than expected earnings. The company specializes in manufacturing and distributing semiconductors for wide range of uses including wireless communications, wired infrastructure, enterprise storage and industrial products. Avago counts two of the hottest tech stocks, Apple and Palo Alto Networks, as major customers. The fact that Avago reported strong demand bodes well for Apple and Palo Alto fourth quarter earnings. Looks like these stocks may see a Santa Claus rally.
Retailer, Express (EXPR) is in the slow lane today down 6% even as earnings came in better than expected. The industry retail numbers have not been encouraging so far this holiday. Over the four-day Thanksgiving weekend, brick-and-mortar retailer saw sales fall 10% to $20.4 billion. As mentioned, Express actually beat analysts' estimates with its third-quarter results while predicting earnings in the fourth quarter of 60 cents to 64 cents would be in-line, but the investment pessimism over the sector has claimed a another victim.
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