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.
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.