Diamonds and Dogs
FedEx (FDX) rises on activist involvement. The delivery firm is jumping 13% after hiking their dividend 53% and adding three directors to its board in an agreement with activist investor DE Shaw. FedEx would focus on shareholder returns and would tie executive compensation to those returns.
Cryptocurrency market taking a hit as the value of all digital coins fell below $1 trillion for the first time since Feb. 2021. Bitcoin is down over 2% today and down 50% year to date. Coinbase (COIN) is down 3% today on a downgrade at JPMorgan due to concerns of falling revenue from less trading. Coinbase stock is down 85% since the November highs of last year.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.