Diamonds and Dogs
Visa (V) hits par. The payment processing giant is up 2% to $100 a share at new all-time highs thanks to better than expected earnings. Quarterly profits rose sharply to $2.06 billion thanks to the purchase of Visa Europe. Besides adding Visa Europe to their portfolio, the company is also replacing American Express as the payment processor for Costco, the nation's largest warehouse store chain.
GE (GE) keeps moving lower. While the rest of the industrials are making new highs, GE keeps moving in the wrong direction down 3% to a new multi low following earnings. Earnings were better than expected, but sales did decline and cash flow from the industrial division and the oil/gas division remain below expectations.