Diamonds and Dogs
Coca-Cola (KO) back in style. Coke is trading up 4% to record highs following better than expected earnings. Coke's earnings got a boost from drinks with less sugar, more than offsetting the company's sluggish home market. Coke expects to post organic revenue growth of 5%, up from the 4% target it had issued earlier. This is Coke's biggest intraday gain in six years and brings the share price to the highest level since records begin in 1968.
Good news for Intel may not be good news for Qualcomm. Qualcomm (QCOM) is lower by 2% on a Wall Street Journal article indicating Apple is in advanced negotiations with Intel to acquire their smartphone modem chip business for around a $1 billion. The acquisition for Apple is no more than a "rounding error" for them, but it may mean less demand for Qualcomm modems and chips.
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.