Diamonds and Dogs


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.

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