Diamonds and Dogs


The Children's Place (PLCE) is the place to be. The children's retailer is up 20% to a new 52 week high after easily beating estimates guiding 2018 estimates above estimates. Revenues rose 4.5% year over year to $520.8 million. The better than expected earnings was due in part to fleet optimization initiatives and closing 142 stores. The company plans to close 300 stores by 2020. The company also authorized a new $250 million share repurchase program and increased the quarterly dividend by 100% from $0.20 per share to $0.40 per share.

Caterpillar (CAT) lower by 2%, the weakest Dow component, on tax and accounting fraud. According to the New York Times, the report focused on the company's offshore tax arrangement and its failure to pay federal taxes on billions of dollars brought back to the US. The allegation comes after three of its Central Illinois facilities were raided by federal law enforcement last week. The company has said that it has not viewed the government report and it has not been made public.

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.