Diamonds and Dogs
Apply today's diamond to see gains in the semiconductor space. Applied Materials stock (AMAT), the semi equipment maker, is jumping over 13% to a new 52 week high, but below its 2 year high, following strong earnings. Second-quarter results beat analyst estimates across the board while guidance was well above expectations. Orders in the quarter increased 37% while the backlog grew by 34%. The company also indicated China was a strong segment of their business. We haven't had much positive news out of China recently. Let's hope Applied's earnings can lead to a further turnaround in the chip space.
Uh oh Spaghettios! Campbell Soup (CPB) is taking a dive down over 6% leaving a bad taste in the mouth of shareholders following disappointing earnings. The food company made famous by brand names like Gold Fish, Pepperidge Farm, Prego and Spaghettios reported weaker-than-expected 2016 third quarter revenue and a 2% drop in organic sales due to a weak soup season. The company did reiterate its sales outlook, but no growth in the short term. Campbell Soup remains a turnaround story with CNBC, Jim Cramer as a supporter and defender of the stock.