Diamonds and Dogs
No Deere (DE) in the headlights today. The farm equipment company is up 8% to a new 52 week high following earnings. Deere reported earnings of $2.14 per share, $0.45 better than the Capital IQ Consensus of $1.69. Revenues rose 2.2% year/year to $7.26 billion, the first time sales rose in 13 quarters due to demand for construction equipment. The company also issued upside guidance for the next quarter and the full year.
Foot Locker (FL) getting the boot. The shoe retailer is down 15% to a 9 month low after missing earnings and sales estimates. The company is blaming the miss on a slow start in February due in part to a delay in income tax refunds. Sales did pick up in March and April and the company says their position in the industry is stronger than ever.