Diamonds and Dogs
General Mills (GIS) jumps 7% on strong earnings and raised guidance. The owner of Cheerios has been divesting businesses to focus on brands that have better prospects for profitability. The company is also hiking prices to make up for higher labor and freight costs.
Summer is over. Travel and hotel stocks are trading lower as summer comes to an end and the Federal Reserve raises rates once again. Marriott (MAR) and Hilton (HLT) are both down 3%. Expedia (EXPE) and Royal Caribbean (RCL) are both down 3% as well.
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