Diamonds and Dogs
With the NFL draft tonight originally planned to be hosted in Las Vegas, Las Vegas Sands (LVS) is jumping 10% following earnings. The company reported a small loss as sales fell 51% to $1.78 billion. The casino operator is optimistic that pent-up demand for gambling points to a speedy recovery in Asia as removal of travel restrictions into Macau could come off mid-May or June. Las Vegas Sands receives 60% of their sales in Asia.
Everyone could use a little chocolate in these trying times. Hershey Foods (HSY) is lower by 3% following disappointing earnings as sale rose just one percent to $2.04 billion. One analyst called the earnings a mixed bag as consumers and grocers prioritize more-essential food items like canned goods. Lower retail foot traffic will also hurt chocolate sales for Easter, one of their biggest holiday selling seasons.
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