Diamonds and Dogs
Materials look good. Aluminum maker, Alcoa (AA) is up 8% to a new high following strong earnings. Alcoa beat by 32 cents as sales rose 20% to $2.87 billion. The company reported revenue and income at its highest level since 2018. Alcoa is expecting a strong 2021 based on continued economic recovery and increased demand for aluminum in all end markets.
Profit-taking in Morgan Stanley (MS). The investment bank fell nearly 3% after reporting a surprise $911 million loss tied to the collapse of Archegos Capital Management, staining what was otherwise a record quarter for revenue and profit.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.