Diamonds and Dogs
Dollar Tree (DLTR) higher on a buyback. Dollar Tree is up 10% after announcing a $2.5 billion share buyback. Profits are expanding as prices go beyond a dollar selling products that cost more than $1 in its Dollar Tree Plus stores and testing them in their traditional stores. Some products could cost as much as $5.
Micron (MU) lower following earnings. The largest U.S. maker of memory chips is down 2% as the company lowered guidance due to slowing demand from PC makers. Currently, PC makers can't build all of the laptops and desktops that have been ordered. The CEO of Micron expected the situation to reverse itself when industrywide shortages ease in the coming months. We'll see.
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