Diamonds and Dogs
Strong earnings at Chewy (CHWY) and Walgreens (WBA). Walgreen is up 6% following strong earnings as the company administered more than 8 million COVID vaccines as well as 5 million tests in the quarter. Chewy is up 7% as earnings beat while sales rose 50% to $2.04 billion. A number of upgrades with price targets as high as $100 a share.
Profit-taking in Kroger (KR). Kroger is down 4% ahead of its investor event as the company reiterates guidance. The grocery retailer has a number of strategies, including fresh food sales and accelerating digital sales which will be a growth engine to create a wider competitive moat. Walmart and Amazon may be able to jump that moat.
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