Diamonds and Dogs
One chip stock bucking the trend. Broadcom (AVG) rose 3% as earnings beat expectations. Broadcom's sales rose 5% thanks to strong revenue from the cloud and telecom industry. A number of upgrades with price targets as high as $350 as one analyst believes the dividend should be hiked by 10%.
More profit-taking in the tech space. DocuSign (DOCU) fell 10% even as earnings beat expectations as sales rose 45% to $342 million. The company also raised full year guidance, but with a stock trading for 200 times earnings and 20 times sales, a little profit-taking is overdue.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.