Diamonds and Dogs
Monster Beverage (MNST) having a monster day. The caffeine drink company is up 5% following a shareholder meeting yesterday when they said sales growth has remained solid and continues to expect global sales growth of ~10% through 2019. They also anticipate a gradual improvement in gross margins through 2019, due in part to the highly likely decision to raise pricing for their products. Last week Monster Beverage announced a new $500-million share buyback plan. One analyst recently upgraded the stock with a price target of $63 a share.
Broadcom (AVGO) lower following better than expected earnings. The company beat expectations as sales rose 19.4% year/year to $5.02 billion. Free cash flow, defined as cash from operations less capital expenditures, was $2,124 million in the quarter. However, the stock is lower on concerns of slowing sales in iphones. Canaccord Genuity's, Michael Walkley increased his price target to $335 from $325 a share. The analyst said despite ongoing weak global smartphone trends impacting wireless division results and guidance, he believes the remainder of Broadcom's business remains strong.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.