Diamonds and Dogs


IBM not feeling so blue anymore. IBM (IBM) has been a dog with flees the last several years, but 2016 is looking brighter for the blue chip stock. After dropping 15% to start the year, IBM has come roaring back up 28% in the 6 weeks and up 8% for the year as one of the leaders in the Dow Jones Industrial Average. Today the stock is up 2% to new recent high thanks to an upgrade from Morgan Stanley with a $168 price target. IBM is also acquiring a cloud software application company for $200 million continuing their plan to expand in the fast growing cloud and software space.

Don't watch this stock. Movado (MOV), the watchmaker, dropped 9% following disappointing earnings guidance today. Movado actually reported better than expected earnings this morning, but provided a downbeat outlook for the year while also mentioning the COO will retire. For fiscal 2017, the company expects earnings per share between $1.85 and $2, on revenue of $585 million to $600 million, well short of analyst forecasts of earnings of $2.27 per share on revenue of $615 million. I hope all the new Apple watches and Fitbit watches aren't eating into business.

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.