Diamonds and Dogs

8/31/21

SNAP (SNAP) rising on bad news. The owner of Snapchat is up 8% after announcing layoffs of 20% of the working staff. The good news was Snap also provided an update on its revenue performance so far in Q3, saying that it's up 8% year over year. This means the growth rate is tracking ahead of analysts' consensus forecast for revenue during the period to be approximately flat compared to the year-ago quarter. The company also completed a share buyback plan of $500 million or 4% of their outstanding shares.

Verizon (VZ) drops to a seven year low. The once proud telecom giant has been on a steady decline for years now trading at a seven year low as rival T-Mobile has surpassed them in market cap as the largest US telecom firm. Income stock yields 6%, but that is little consolation with the stock down 20% for the 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.