Diamonds and Dogs
The markets and TJX (TJX) are rebounding. The discount retailer is jumping 7% to a new high following earnings. TJX beat by 4 cents as sales rose 9.7% to $12.21 billion ahead of estimates. Thanks to strong cash flow, TJX is hiking the dividend 13% while also announcing a $2 billion share buyback plan. TJX doesn't seem to be having a problem with the coronavirus.
Toll Brothers (TOL) going the wrong direction. The U.S. luxury homebuilder is down 11% to a two-month low after missing Wall Street estimates, as lower prices weigh on margins. Toll Brothers missed by 5 cents as sales fell 2.3% to $1.33 billion, missing estimates as well. The company also forecasted full-year home sales to be between 8,600 and 9,100 units, near the low end of the range. Average home price fell 6.6% to $805,300. That certainly is the luxury market.
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