Diamonds and Dogs
Enjoying the workday today? You should since the markets are up and today's diamond Workday (WDAY) is soaring 18% thanks to better than expected earnings. The cloud application company has been on a roller coaster ride in the last month. The stock dropped over 20% at the start of February when rival, Tableau Software reported disappointing earnings and lower guidance. Today, Workday demonstrated no such slow down with revenue up 48% year over year crossing a billion dollars in sales for the first time.
How's the New Year's resolution of staying healthy going? Your portfolio may not be as healthy with today's dog, Medtronic (MDT). The world's largest standalone medical device maker, saw its' stock drop 4% following disappointing earnings attributed to the strong dollar. Profit margins were also lower due to a recent merger with Covidien. Executives at Medtronics stressed the company is making significant progress toward achieving its cost savings target of $850 million over three years. The company also affirmed their full year guidance of $4.36 to $4.40 earnings per share. Maybe today was a one day blip.