Diamonds and Dogs
Restoration Hardware (RH) restored to health. Back in 2016, the company was struggling in this new retail Internet age, but rather than give up, Restoration Hardware took on a remodeling project for its entire business model. Today the stock is up 30% as Restoration reported better than expected earnings beating estimates by 31 cents. They also significantly raised estimates for the current quarter and the full year.
The defense stocks are lower following peace talks with North Korea. Raytheon (RTN), the world's largest producer of guided missiles, is down 3% now in a five month range. Raytheon did receive a $129.9 million U.S. Army contract for continued production of the tube-launched, optically-tracked, wireless-guided TOW weapon system, but news that S Korea and the US will stop their war games training is trumping any positive news.