Diamonds and Dogs

4/29/21

Facebook (FB) profits surge. Facebook is up 7% to new all-time highs thanks to strong ad spending. Similar to Google yesterday, Facebook saw a 50% rise in advertising revenue as corporate ad spending leaves magazines and other traditional areas and goes online.

Profit-taking in the drug space. Bristol Myers (BMY) and Merck are down 4% following earnings. Bristol missed earnings and sales due to weak demand as healthcare providers stocking up on medication at the beginning of the COVID-19 pandemic in anticipation of potential supply chain issues. Merck in the other hand blamed weak demand on a resurgence in COVID-19 cases that has hurt demand for drugs that need to be given by doctors. Not sure what excuse both firms will use next quarter.

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.