Diamonds and Dogs
DICK'S Sporting Goods (DKS) teaming up with Nike. DICKs is jumping 6% as the two companies will connect their DICK'S Scorecard and NIKE Membership accounts through the DICK'S mobile app. DICK'S and NIKE aim to make the experience simple and convenient by providing an easy-to-use platform where customers can seamlessly shop an expanded selection of NIKE footwear and apparel. DICKs and NIKE memberships will also gain access to exclusive products, experiences and offers.
More fall out from Zillow (ZG). Zillow is down 17% today and down 30% for the week as the company preannounced last night, reporting a quarterly loss and will shut down their flipping business called, iBuying and will lay off 25% of their workforce. Zillow had been buying thousands of homes directly from homebuyers each quarter, with the goal of making cosmetic repairs and reselling them for a profit. However, the company now owns about 7,000 homes with a majority worth less than Zillow paid for them. Not good.
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