Diamonds and Dogs


Apple (AAPL) hits a trillion dollar market cap again. Apple is up nearly 7% to a six month high following better than expected earnings. iPhone revenue actually declined 17%, but record service growth and improved gross margins lifted earnings. The CEO also made positive comments on business in China. Apple also raised their dividend 5% and added another $75 billion to their buyback. Plenty of upgrades with price targets of $230 and a couple as high as $245 a share. A great quarter for Apple.

Amgen (AMGN) facing slower growth and higher expenses. The biotech firm is down 4% not far from a 52 week low following lackluster earnings and no sales growth. One of their top drugs, Neulasta declined 12% in the quarter to $1.021 billion. Expenses grew 9% to $3.1 billion from $2.8 billion as Amgen increased spending on research and their pipeline to support their oncology programs. Amgne is also waiting for a patent ruling for one of their top drugs, Enbrel. Hopefully, it goes their way.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.