Diamonds and Dogs
Deere is back. The John Deere tractor company is up 9% after easily beating earnings estimates while also raising full year net income guidance. Operating profits improved for the quarter due to price realization, lower production costs and a decrease in selling, administrative and general expenses. John Deere has been hurt by the continuing impact of the global farm recession, but hopefully the fundamentals are moving in the right direct once again around the globe.
Fallout from Obamacare. The dialysis service firm, DaVita Healthcare (DVA) is down 5% not far from the 52 week low after federal health care officials launched an investigation into complaints some providers may be steering patients into Obamacare plans, in order to obtain higher reimbursement fees. Regulators from the Centers for Medicare and Medicaid Services issued a request for information seeking public comment into the prevalence of the practice late Thursday, after health insurers raised concerns about the issue.