Diamonds and Dogs


Two blue chips rising today. AT&T (T) is higher by 7% to a one month high thanks to strong wireless and broadband growth. IBM (IBM) is higher by 4% thanks to better than expected earnings and raised guidance as their shift to cloud computing and software continues to produce results and their old dinosaur mainframe business also contributed to results.

Adidas (ADDYY) lowered guidance. Adidas is lower by 4% after seeing significant inventory builds in China as Covid-19 continues to limit demand. The company is facing higher costs lower profits and lower margins. Adidas is also winding down their business in Russia.

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