Diamonds and Dogs

8/23/22

Dicks (DKS) reports strong earnings. Dicks is up 2% to a six month high after beating estimates as sales fell 5% to $3.11 billion. The company raised guidance as consumer spending has held up and inventory levels have come down. Dicks expects a strong back to school season for cloths and sports equipment.

Zoom (ZM) fizzles. The video communication giant is down 14% back to the lows for the year which are also two and a half year lows following earnings. The company missed estimates, lowered quarterly guidance and full year guidance as the company struggles to find paying subscribers particularly among small businesses and consumers. Citigroup reiterated a Sell and said the lower guidance may still be too optimistic.

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