Diamonds and Dogs
The Hilton's are back on top. Hilton Worldwide Holdings (HLT) is up 3.6% to a new all-time high following earnings. The company easily beat expectations and guided higher for the rest of the year helped by a boost in business travel following the U.S. presidential election. Hilton, the owner of the Waldorf Astoria hotel chain, said in February that it had seen a pick-up in corporate demand on improved business sentiment.
Advanced Micro Devices (AMD) is down 18%, its biggest one-day loss since 2005 on disappointing profit margin outlook. The earnings and sales were in line with expectations as sales did grow 18% year over year, but its seems AMD's new products do not have the gross profit margins investors were hoping for. UBS and Goldman Sachs reiterated sells.