Diamonds and Dogs
Exxon Mobil (XOM) and oil stocks look good. Exxon is trading up 2% thanks to a positive cover piece on Barron's Magazine as the price of oil moved above $70 a barrel for the first time since November 2014. In the article, unloved and undervalued Exxon Mobil Corporation is betting that demand for fossil fuels will continue to grow despite the rise of renewable energy. Barron's seems to agree saying the stock is not stuck in the past.
Tower Semi (TSEM) taking a hit. Most of the techs and the chip stocks are higher, but Tower Semi is lower by 14% following disappointing earnings. The company missed estimates by 15 cents as revenue fell 5.3% to $312.7 million, missing estimates as well. The company also issued downside guidance for second quarter. Typically this is a seasonally weak quarter for chips. Let's hope it's just a short term problem for Tower Semi.