Diamonds and Dogs
an Oil company trading higher. Wow. Oil fracker, EOG (EOG) is up 5% following better than expected earnings. The last month and bascially, the last five years have not been great for the oil industry as more and more supply comes online. Demand to start the year has dropped like a rock due to the coronavirus, however companies are getting more efficient making money even as the price of oil drifts lower. EOG hiked their dividend 30%. Not bad.
Dell Technologies (DELL) the latest tech firm to preannounce. The computer maker is down 8% to a 52-week low after lowering guidance to, you guessed it, the coronavirus and a PC slowdown. Dell is expecting server business to pick up some of the slack. The company did announce a one billion share buyback plan.