Diamonds and Dogs
Macy's (M) crushes earnings estimates. Macy's is up 15% after easily beating estimates as sales rose 58% to $5.65 billion. Macy's also raised their full year outlook and reinstated its dividend. The stock has risen 60% in 2021 and 188% over the last12 months.
Robinhood (HOOD) down 8% following earnings. Robinhood reported a bigger than expected loss as sales rose 131% to $565 million. The company warned cryptocurrency-driven trading that fueled quarterly revenue may quickly fade. Seasonal issues and lower trading activity will also impact third-quarter results.
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