Diamonds and Dogs
Dell Technologies (DELL) stealing market share from rivals. Dell is up 5% to a three-month high following an earnings beat as sales were unchanged year over year at $21.9 billion. Dell is seeing better sales of personal computers to businesses with employees working from home. Dell's PC business is holding up better than rival HP which on Wednesday reported declining PC sales partly due to supply disruptions.
Canopy Growth (CGC) still losing a lot of money. The cannabis company is down 20% giving up a lot of the recent gains after posting a loss of 1.3 billion Canadian dollars, but promises better times ahead. The red ink came from C$750 million (US$545 million) in noncash write-downs on "spendthrift projects." After receiving a $4 billion cash infusion from Constellations Brands a number of years ago, it sounds like they are wasting a lot of that money.
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