Diamonds and Dogs
11/3/22
People want to travel. Booking Holding (BKNG) the parent for Priceline and Kayak is up 4% on earnings which rose 41% as revenue rose 29% to $6.1 billion. Management is encouraged by the slight improvement in room night growth we have seen in October and by the level of bookings for travel in early 2023.
Chips continue to struggle. Qualcomm (QCOM) is down 7% following lackluster earnings and lower guidance. Management sees a further deterioration of macroeconomic environment while sustained COVID restrictions in China have led to broad-based demand weakening across tiers and regions. Many of Qualcomm's customers have elevated levels of chip inventory so no need to order any more.
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.