Diamonds and Dogs
Things looking up at Etsy (ETSY). The online E-commerce company is up 15% to all time highs following better than expected earnings. Etsy beat expectations by 4 cents as revenues rose 46.7% to $200 million, ahead of estimates. The company gave upside guidance for 2019. Management said the strong holiday season was due to a number of factors including an improved selling platform and "more competitive shipping prices." A number of upgrades with price targets of $75 and $80 a share.
Blame it on the Rain. Home Depot (HD) is down 2% today following earnings. Earnings beat expectations, but sales and guidance was light due in part to, rain. The bigger story is slowing housing demand. The stock market fourth quarter swoon and the worst December in 80 years probably didn't help consumer confidence in buying or updating their home. Home Depot did authorized a new $15 billion share repurchase program, and a dividend increase, for the 10th year in a row, of 32%, to $1.36 a share for a 2.9% yield.