Diamonds and Dogs
This is not your grandfather's Sears (SHLD). The news has not been good for Sears in a couple years, but the stock is up 29% today on a restructuring. Sears is looking to save a billion dollars by selling more locations, cutting more jobs and putting more of its famous brands on the block while also restructuring its debt. Last month Sears said it would close 150 of its 1,500 stores while also selling their most profitable brands like Kenmore appliances, DieHard car batteries and their popular tool brand Craftsman. Not sure what's left at Sears?
While Facebook remains strong, Yelp (YELP) and Twitter (TWTR) are moving in the wrong direction. The two Internet companies are down over 4% following disappointing guidance. Yelp has actually performed well of late so the decline for Yelp isn't as bad, but Twitter just can't seem to catch a break. The company received four downgrades with a couple going to sell ratings after another disappointing quarter.