Diamonds and Dogs
Mylan (MYL) rebounding following earnings. The maker of the EpiPen is up 15% to a two month high following better than expected earnings. Mylan easily beat earnings by 6 cents as revenue fell 4.2% to $2.86 billion. Most of the growth is internationally with sales of $773.7 million, up 4% and up 11% on a constant currency basis. Mylan is still lower from the August/September highs after slashing full-year 2018 outlook due to significant problems in the U.S. market.
Ralph Lauren (RL) taking it on the chin. The maker of Polo apparel is down 5% stuck in a trading range following earnings. The company beat earnings estimates with strong sales in Asia, but investors are concerned they are not seeing enough progress in North America, considering it spent about 30% more on marketing in the quarter, versus the prior year. Last year, there was a total of 7,000 retail stores that closed. 2018 hasn't been much better with Sears filing for bankruptcy and JC Penney's probably not far behind.