Diamonds and Dogs
Xilinx (XLNX) charges ahead. Share prices of this programmable chip company have risen almost 5% on the back of an announcement yesterday that CEO Moshe Gavrielov will be stepping down, to be replaced by Victor Peng, the former COO. Peng has emphasized a pivot to software and machine learning, news that has been well received by investors and institutions like Goldman Sachs, who upgraded the stock from "neutral" to "buy" this morning.
Constellation Brands (STZ) not in high spirits. Despite pockets of good news, a mixed earnings report ultimately disappointed investors to start the New Year. In particular, a sharper than expected drop in wine and spirits sales (down 10.3%) and a lower than expected total revenue (missed expectations by .6%) led to a 1.78% fall in the company's share price.