Diamonds and Dogs
Home Depot (HD) is higher again as Hurricane Irma heads toward Florida, but today's diamond goes to Macy's (M). The department retailer is up 3% on news rival Hudson Bay is considering going private. The retail sector in general has been hit as Amazon encroaches on everyone's business. Value investors may be circling a number of retail names like Macy's and with the stock so cheap it may make sense to go private.
Hurricanes are not good for vacation plans. Shares of online travel services company, Trivago (TRVG) dropped 23% after lowering guidance. The German based company now expects full fiscal year 2017 annual revenue growth to be around 40% (down from +50% vs. +51.5% consensus) and adjusted EBITDA to be lower than in 2016 but to remain positive. Other travel websites like Priceline and Expedia are getting hit as well.