Diamonds and Dogs
Rockwell Automation (ROK) looks rock solid. The industrial automation and information solutions company is jumping 13% to a three-year high following better than expected earnings and better guidance for 2020. Rockwell and competitors are benefitting from the digital shift in the industrial sector. Management said they continue to find new ways to increase productivity for their customers as they play a larger role in their digital transformation journey.
CBS (CBS) trading lower on earnings. CBS is down 3% not far from a 52 week low following earnings. CBS went dark this summer for more than 6.5 million DirecTV, DirecTV Now and AT&T U-verse customers in at least 14 U.S. cities, including New York, Los Angeles and Chicago, before CBS and AT&T signed a new content carriage agreement. Sales from advertising, which was also hurt by the timing of the broadcast of certain sporting events, fell 6.8% to $1.18 billion in the quarter from a year earlier. CBS is in the process of re-uniting with Viacom to create a larger multi-platform content company and re-make media mogul Sumner Redstone's U.S. entertainment empire at a time of intensifying streaming wars. Just today, Disney + is now available to consumers.