Diamonds and Dogs
Walmart (WMT) rose as they missed earnings estimates. Walmart rose 1.5% moving back toward all time highs even as they missed by 6 cents as sales only rose 2.1% $141.7 billion. Walmart conceded this was not their best fourth quarter witnessing softer business a few weeks before Christmas. Looking forward, Walmart remains "well-positioned" for 2020 and beyond after heavy investments in its supply chain and distribution. The good news Walmart's outlook for 2020 includes no headwind from the coronavirus.
It's been awhile since Apple (AAPL) was a dog. The tech titan fell 2%, now in a trading range after preannouncing earnings and sales guidance for the first quarter due to the coronavirus. Apple is facing two problems in China. First, the factories have been closed and are now just getting back to work. Second, demand for Apple products within China are down dramatically as all the stores in China and many of the partner stores have been closed.