Diamonds and Dogs
Retail looks good ahead of Black Friday. Plenty of better than expected earnings in the retail sector from the likes of Cracker Barrel, DSW, Barnes & Noble, Signet Jewelry, Chico's, Movado, Burlington Stores, and Hormel Foods, but the diamond goes to Dollar Tree (DLTR) up 9% following better than expected earnings. Dollar Tree's earnings actually doubled thanks to the acquisition of Family Dollar in the last year. The company is expecting to reap $300 million in synergies over the next 3 years thanks to the acquisition.
Medtronic (MDT) is taking a hit. The world's No. 1 standalone medical device maker beat earnings estimates, but the stock is down 8% after missing revenue numbers and lowering 2017 guidance due to slowing growth in its diabetes and heart product units. Management said they face issues that affect their growth, including slower-than-expected revenue as they await new product introductions, particularly in cardiac and vascular group and diabetes.
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