Diamonds and Dogs
Upgrade for Fox Corp (FOXA). Fox is up 3% after an analyst at Wells Fargo said the stock could benefit from Fox's presence in sports gambling, pointing out investments such as Credible Labs and Fox Bet as proof of the Murdoch company pivoting toward sports betting. Sports gambling is a rapidly-emerging opportunity in the U.S. as more and more states lift restrictions to increase their tax collections.
Campbell Soup (CPB) pandemic surge is over. Campbell Soup is down 5% not far from a 52-week low after missing earnings estimates as sales fell 11% to $1.98 billion. The company lowered guidance due to higher supply chain costs. In the last year consumers filled their pantries with soups and other canned goods and no longer need to stock up.
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