Diamonds and Dogs
Stimulus money heading to Dick's Sporting Goods (DKS). Dicks is up 16% following strong earnings as sales rose 119% to $2.92 billion. eCommerce sales increased 110% while the golfing sector outperformed. Dicks did concede uncertainty in back half of the year due to uncertainty of when normalization occurs, and the stimulus checks go away. The stock is up nearly 100% from the December lows.
Walgreens (WBA) is down 3% while CVS Health (CVS) is also lower on news Amazon is considering the launch of brick-and-mortar pharmacies in the United States. Amazon is also making news buying MGM Studios for $8.4 billion which includes a film catalog of more than 4,000 titles. Its movie franchises include the James Bond and Rocky films. The studio also comes with 17,000 TV shows such as Hulu's The Handmaid's Tale and the FX hit Fargo.
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