Diamonds and Dogs
Sysco Corp (SYY) looking good today. The food and food service company is up 2% following earnings. Sysco easily beat earnings expectations as revenues rose 2% to $14.66 billion. Management said the results for the quarter showed strong improvement in year-over-year growth. Sysco is focusing on profitable growth while trying to balance expenses. With a down market today, it doesn't take much to be a diamond.
US/China trade tensions hitting the tech sector. Chipmaker, Nvidia (NVDA) is down 3% following negative analyst comments and concerns about China retaliating following the President's decision over the weekend to raise tariffs on Friday. An analyst at Cowen said over the weekend that weakness at Intel was a bad sign for Nvidia. The chip sector is expecting a second half of the year recovery in the sector. Time will tell.