Diamonds and Dogs

6/28/22

Price of oil is the only sector higher today. Occidental Petroleum (OXY) is up 4% as Warren Buffett and Berkshire Hathaway continue to buy the stock on dips. Buffett now owns 16% of the outstanding shares or $9 billion of the oil giant.  

Nike (NKE) lower following earnings. Nike is down 6% after beating earnings, but then lowering guidance due to rising inventory and shutdowns in China. Outside of China, demand has outstripped supply for the last three straight quarters, but rising concerns of recession put forward estimates at risk. Nike did announce an $18 billion share buyback plan.

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.