Diamonds and Dogs
Rite Aid (RAD) got it right. The drugstore chain is up 18% to new recent highs following strong earnings. Rite Aid easily beat estimates as revenue rose 12% thanks to higher front-end store sales for immunity-boosting products. Looking ahead, Rite Aid is expected to boost customer traffic once it can participate in COVID-19 vaccinations next year.
Winter is coming. As the Northeast digs out from a winter storm, AT&T (T) is lower by 2% on a downgrade. The stock has been performing well thanks to the rollout of HBO Max with hit shows like Game of Thrones, but Morgan Stanley downgraded the stock even though their price target is 15% above current levels. Only on Wallstreet.
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