Diamonds and Dogs
Target (TGT) helping the retailers get back on target. The big box retailer is up 5% after the company said they would see a "modest increase" in second-quarter comparable-store sales, a metric closely watched by Wall Street for retail stocks. Target added it expects second-quarter earnings to come in above the high end of the forecast. Target is breathing some fresh air into the other retailers like Walmart, Costco, and others.
Typically a downgrade isn't a big deal, but Seagate Tech (STX) is down 3% back to the January lows following Barclays downgrade. The analyst said there is limited cost improvement going forward, increase competition from Western Digital and possible valuation multiple compression going forward. Other than that, business is great.