Diamonds and Dogs
The chips are back! The semiconductor stocks have been acting a lot better as pricing improves for those tiny little chips. One of the most volatile chip stocks, Micron Tech (MU) is our diamond of the day up 10% to a new recent high. The flash memory DRAM maker has seen the price for their chips firm up over the previous weeks. Two analysts, one at Nomura and the other at Susquehanna upgraded the stock to a buy. Better late than never.
Not feeling the love. Southwest Airlines, symbol LUV is down 2% to a four month low after lowering growth prospects for the next two years verse current rates. The company also raised fuel cost estimates. Another airline that decided to take off their hedges at multiyear lows for crude oil. The company is also delaying the delivery of 67 Boeing 737 MAX 8 aircraft by up to six years. Not good news, but its doesn't seem to be hurting Boeing.