Diamonds and Dogs
Plenty of diamonds once again thanks to earnings. GM (GM) is up 5% following strong earnings. Chipmaker, Qualcomm (QCOM) is up 13% to new highs following strong earnings as sales rose 35%. Industrial, Parker-Hannifin (PH) is up 9% following earnings. Even an energy/utility company, Dominion Energy (D) is up 2% following earnings.
Hanesbrands (HBI) lower following earnings. The apparel maker is down 19% after reporting mixed results. Hanesbrands took advantage of the difficult situation, making up for lost sales by pivoting to protective garments and masks. Sales of protective garments grew 37% but could not overcome outerwear and activewear as sales declined 41%. Hanesbrands went on to lower fourth quarter guidance as the recovery will take longer.
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