Diamonds and Dogs
L Brands (LB) rebounding 12% following earnings. The company's two principal divisions are continuing in opposite directions – comparable sales at Victoria's Secret, which has been struggling in the throes of an identity crisis, fell 5% to $1.148 billion at the same time that sales at the much more stable Bath & Body Works grew 13% to $714 million year-over-year. The company did provide in line guidance for the pull year.
Another Chinese stock taking a hit. The social-media company Weibo , China's version of Twitter is down 12% near a two year low following earnings. Weibo actually beat earnings estimates as sales rose 14% to $399 million, just below estimates. Weibo went on to lower sales guidance for the second quarter. Revenue growth has been slowing quarter by quarter over the past year as marketers cut their advertising spending in response to China's slowing economy.
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