Diamonds and Dogs
Time to go shopping with today's diamond, J.C. Penny (JCP). The stock is climbing higher today up 15% thanks to better than expected fourth quarter earnings. The company came in with earnings of 39 cents a share easily beating estimates of just 23 cents a share. The company saw impressive holiday sales even with more people avoiding traditional retail stores. The same quarter a year ago, the company reported earnings of just 4 cents a share.
Time to trim weight. Weight Watchers International (WTW) is losing 27% after reporting less than spectacular earnings. The company reported a loss of 3 cents per share which is much lower than analyst expectations of a gain of 2 cents per share. The company's stock has been on a roller coaster ride since October when it was disclosed that Oprah bought a big stake in the firm. The stock skyrocketed from $6 to $26 in a month and a half, but has since pulled back to $11. Long term, I'm sure Oprah will have a beneficial effect.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.