Diamonds and Dogs
Dicks Sporting Goods (DKS) receives the gold today. Dick's Sporting Goods jumped 7% to a new 52 week high after beating earnings estimates by 13 cents, beating on sales and raising third quarter guidance and full year guidance above consensus. Looks like the Olympics have been good to Dicks Sporting Goods sales.
Hain Celestial (HAIN) dropped 26% today not far from its 52 week low after lowering guidance and delaying their quarterly and full year results due to accounting issues. The company identified concessions that were granted to U.S distributors that may or may not have been accurately accounted for in the correct period. There is nothing more that investors and Wall Steeet hates than uncertainty around accounting issues.
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