Diamonds and Dogs
Best Buy (BBY) up 4% following better than expected earnings. Best Buy easily beat by 23 cents as sales rose 2.7% to $15.2 billion. Best Buy raised their dividend by 10% and did not lower guidance. Best Buy forecasts that most of the impact from the coronavirus will happen during the first half of the year. Let's hope they are right.
Vail Resorts (MTN) reports earnings and rescinds guidance. Vail reported a good quarter as sales rose 8.8% to $924.6 million. However, due to the coronavirus, the largest ski-resort company and two hotel real-estate investment trusts owner rescinds their guidance. The stock, after going sideways for a year, is down 30% in the last month to a three-year low. Not fun.