Diamonds and Dogs
The major averages made new all time highs while chipmaker, Broadcom (AVGO) also made a new all time high. The conglomerate, Broadcom and Avago jumped 5% today after beating estimates on inline sales. Thanks to the merger of the two companies, sales rose 123.7% to $4.15 billion. The company raised sales estimates once again after raising estimates last month. A good day to report better than expected earnings.
The honeymoon is over for Duluth Holdings (DLTH). The tradesman retailer dropped 22% today following disappointing third-quarter earnings and weak fiscal 2016 guidance. The company revised its fiscal 2016 outlook lowering net sales to between $360 million and $370 million verse estimates of $380 million. Duluth also revised GAAP earnings per share to 52 to 60 cents verse estimates of 70 cents a share. The company came public a year ago with the stock more than doubling until today's 22% decline.