Diamonds and Dogs
Earnings coming in better than expected. GE (GE) is up 7% while Raytheon Tech (RTX) is up 5% following earnings. GE's earnings were lackluster, but Raytheon beat as their backlog for commercial aerospace and defense grew along with their cashflow thanks to the merger with United Tech.
Profit-taking in Verizon (VZ) and American Express (AXP). Verizon beat and raised guidance, but the stock is lower by 2% while American Express beat while sales fell 17% due to persistent soft demand for travel and entertainment.
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