Diamonds and Dogs
Union Pacific (UNP) says the US economy looks good. The US rail operator rose 4% to new highs overcoming severe cold weather and flooding along the Missouri River and its tributaries to report better than expected first quarter earnings. Management said the ongoing U.S. trade disputes have had a clear impact on grain shipments, which dropped 7% in the quarter, but overall, the US economy looks good.
StoneCo (STNE) has a crack in it. The Brazilian fintech company is down 27% after tripling from the December lows when it was disclosed Berkshire Hathaway had added it its portfolio. However, today the stock is lower as rival Brazilian card-processing unit, Rede, will pay merchants much quicker than StoneCo. Easy come, easy go.
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