Diamonds and Dogs
The Airlines are flying higher. American Airlines (AAL), Southwest (LUV), Delta (DAL) and United Continental (UAL) all opened higher trading at new recent highs following the SEC disclosure last night that Warren Buffett and Berkshire Hathaway made an investment in the airline sector last quarter. The airlines have been acting a lot better, but getting a recommendation from a legendary investor doesn't hurt.
Not so sporty holiday. Dicks Sporting Goods (DKS) is down 6% after the sports retailer said fourth quarter results likely won't meet analyst expectations. Dick's reported adjusted third-quarter earnings per share of $0.48 on revenue of $1.81 billion, better than the $0.42 per share on revenue of $1.77 billion. But the fourth quarter earnings look to be in a range between $1.19 and $1.31 per share, below estimates of $1.32 expectations for the period. The company does expect same store sales in the holiday quarter to increase between 3% and 6% compared Wall Street expectations of a 4.2% increase.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.