Diamonds and Dogs
Vail Resorts (MTN) had a good ski season. The stock rose 5% as ski season metrics showed growth of 12% with strong lift ticket sales for next year that could exceed upside guidance. Season-to-date ski school revenue was up 53.0% and dining revenue was up 73.2% compared to the prior year season-to-date period.
Commodities took a hit as oil dropped 4%. Chevron (CVX) and Exxon (XOM) fell 2% and 3% respectively due in part to concerns of lock downs in China again. Shanghai's COVID-19 lockdown misery dragged into a fourth week, as orders for mass testing in Beijing's biggest district sparked fears that the Chinese capital could be destined for a similar fate.
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