Diamonds and Dogs
Crocs (CROX) is back. The rubber clogs, sandals and shoe maker is jumping 25% following earnings this morning. Similar to yesterday's diamond Twilio, Crocs is not making much money, but the good news is they are not losing money. Revenues rose 7.3% to $261.1 million ahead of estimates. The company gave inline guidance, but raised gross margins so it looks like Crocs will keep making money going forward. Croc's also recently partnered with Susan G. Komen®, the world's leading breast cancer organization, to provide shoes with the Susan G. Komen's iconic pink Running Ribbon. Three dollar from every pair purchased will go to the organization.
No Steve Wynn, no spectacular results. Wynn Resorts (WYNN) is down 11% today following earnings. The company actually beat earnings and sales estimates, but sluggish demand for the fourth quarter in Macau, China has investors cashing in their chips. Most of the issues at Wynn are out of their control. The US/China trade dispute has certainly hurt China with their stock exchange down over 20% year to date. However, the dismissal of founder Steve Wynn due to inappropriate behavior early this year doesn't bode well for the long term success of Wynn Resorts. The stock is down 50% from the May highs, but good news, Steve Wynn sold his entire stake 77% higher from current levels.
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