Diamonds and Dogs
Low rates good for homebuilders. D.R. Horton (DHI) is up 2% to new highs following better than expected earnings. D.R. Horton easily beat expectations by 25 cents per share as sales rose 14% to $4 billion, ahead of estimates. However, not everyone is bullish. Some economists believe the recent strength is more a recovery from an 18-month weak stretch then a renewed boom in housing.
Plenty of dogs with the coronavirus spreading in China with more confirmed cases elsewhere. The airliners are taking a hit with American (AAL) United (UAL) and Delta (DAL) all down 3% or more. The casino stocks with exposure to Macau, China like Wynn Resorts (WYNN) and Melco Resorts (MLCO) are down 5% or more. Cruise ship operator, Royal Caribbean (RCL) and Norwegian are down 6% and 3% respectively. Theme park operator, Disney (DIS) is down 2.6% with their park closed in China.
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