Diamonds and Dogs
An upgrade for Google-parent Alphabet (GOOGL) has the stock up 3%. Deutsche Bank analyst increased his price target to 1,400 from 1,300 for Alphabet saying there is an accelerating pace of new ad products that could lift business for 2020. The analyst went on to say Google has among the best ad product pipelines of anyone. The future of advertising is online. Facebook is up nearly 3% on this news.
The scarlett letter. The life science company, Agilent (A) is down 12% following disappointing earnings. The company missed earnings estimates and lowered guidance as sales only rose 2.7% to $1.24 billion. The CEO explained that lower demand for lab instruments in China was the primary factor for lower revenue growth. China's drive to lower generic drug prices has pressured the industry to cut costs which could hurt equipment purchases going forward.
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