Diamonds and Dogs


Oracle (ORCL) is the oracle in the market today. The cloud computing company rose 4% in a volatile trading day following earnings last night. Oracle beat earnings estimates, but then missed on revenues due to negative currency translations and persistent weakness in traditional software sales. The good news is the company boosted its share buyback program by $10 billion or 6% of their market cap. Good news long term.

Money laundering is never a good thing. Credit Suisse (CS) fell 4% after the lawyers for Georgia's billionaire former prime minister, Bidzina Ivanishvili accused Credit Suisse Group AG of money laundering as they step up their fight with the Swiss bank over its handling of a former wealth manager who allegedly made unauthorized transactions to cover up trading losses. Credit Suisse stock is down over 50% in the last year due in part to slower business and possible bad loans on their books. Throw in a nasty litigation case with a billionaire over improper trades and money laundering and Credit Suisse's management team better find the right solution or they'll be looking for new jobs.

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.