Diamonds and Dogs
Tire sales are back. Goodyear Tire & Rubber (GT) is jumping 6% to a new 52-week high following earnings. Earnings easily beat expectations as sales remain lackluster. Demand for tires has been weak during the pandemic as no one was driving. But with the reopening of the economy, tire demand is expected to pick up the rest of the year.
Fox Corp (FOX) lower following earnings. The stock is down 5% even though earnings were much better than expected. Sales rose 8% to $4 billion. However, with a new administration in the White House, Fox news may see a backlash to their right-centric news reports. Rumors of former President Trump creating a competing cable channel don't help either.
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