Diamonds and Dogs
Time to travel and grow your worth with today's diamond. Expedia (EXPE) is jumping 9% after making a 52 week low on Tuesday following better than expected earnings guidance for 2016. The travel website firm reported lackluster fourth quarter earnings, but does expect 35% to 45% year-over-year earnings growth due in part to recent acquisitions of HomeAway (AWAY), Orbitz Worldwide (OWW) and Travelocity. Rival TripAdvisor also reported better than expected earnings so at least people are still traveling and going on vacation.
As you fly to the tropics for spring break this year, the plane you fly on might be under investigation. A double whammy for Boeing (BA) today. The stock initially dropped 3% on news the company was looking to cut costs and possibly cut jobs. Then midday the stock dropped as much as 12% on rumors of an SEC inquiry into accounting matters pertaining to Boeing's 787 Dreamliner and 747 jumbo aircrafts. The company is accused of possibly using the wrong account practices that spread the cost of the two types of planes over years. Hopefully the issue is overblown and Boeing's stock did rebound, but it also caused the Dow to drop as much as 400 points before rebounding. Another ugly day in the markets.