Diamonds and Dogs
At least one retailer can compete with Amazon. After a rollercoaster ride this year, big-box retailer, Costco Wholesale (COST) is jumping 4% following better than expected earnings. Costco beats earnings estimates by 4 cents even as sales missed estimates. Revenue did grow 2% year over year to $36.56 billion. Not great, but better than most.
Wynn some and lose some. Wynn Resorts (WYNN) is one of the few stocks trading lower today after the company announced the Wynn Macau President Gamal Abdelaziz would resign. No other news was disclosed, but with concerns of slow traffic at their new $4.2 billion Wynn Palace in Macau, investors are selling first and asking questions later. Today is also the end of the quarter which can prompt more selling on bad news.