Diamonds and Dogs
At least one Dow component is higher. Salesforce.com (CRM) is up 4% to a yearly high as earnings easily beat as sales rose 23% to $6.34 billion. The company also lifted estimates as margins improve as the digital transformation of corporate work continues to accelerate.
Tough comparisons for Dollar General (DG). Dollar General is down 6% to a two-month low following earnings. Earnings beat, but the company had to lower expectations due to higher transportation costs with a greater proportion of sales coming from lower-margin consumable goods coupled with growing inventory. Dollar General was one of the beneficiaries from the pandemic with an uptick in sales last year.
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