Diamonds and Dogs
Twitter (TWTR) finally moving in the right direction. The Internet Company is up 5% following better than expected earnings last week and insider buying from CEO, Jack Dorsey. Jack Dorsey disclosed the purchase of 574K shares or roughly $10 million. The company is also partnering with Bloomberg for a streaming news service.
Diamond Offshore (DO) keeps going in the wrong direction. Diamond reported better than expected earnings, but the stock is lower by a percent, down 50% in the last year making a new 52 week low today. While earnings were better than expected, profits fell 73% while sales declined 20.5% to $374.2 million. Diamond's deep sea drilling oil rigs are no longer in demand with cheap fracking opportunities in the Midwest and West.
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