Diamonds and Dogs
Google (GOOG) leading the tech rebound. Alphabet/Google is up 2% on an upgrade at Pivotal Research Group with a $1650 price target. The analyst believes the recent change in management offers margin expansion for the stock with the potential to change capital allocation strategies with a larger stock buyback program and potentially initiating a dividend.
Cal-Maine Foods (CALM) not so calm. The egg producer is down 9% after reporting disappointing earnings as sales fell 12.5% to $311.5 million, below consensus of $324.1 million. Average sales price fell 11.5% due to too many eggs. Our chickens are too efficient and too productive.