Diamonds and Dogs

8/12/22

Toast (Tost) smells good. The payment solution provider for restaurants reported strong earnings as consumers continued to eat out despite high inflation. Two upgrades from KeyBanc and JP Morgan Chase with price targets of $25 and $21 a share. Not bad

Illumina (ILMN) having a tough day. The gene-sequencing company is down 8% as earnings and sales fell well short of expectations while also slashing its forecast for revenue growth in 2022 to between 4% and 5% from 14% to 16%. The company blamed macroeconomic pressures on customers, supply-chain delays, and a drop in Covid testing.

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