Diamonds and Dogs

12/7/22

Lowes (LOW) bouncing back.  The home improvement retailer is up 3% after updating investors on its outlook and long-term growth plans. Lowes had better than expected projections while also announcing plans to buy back $15 billion in stock in addition to a previous program that reached $6.4 billion.

Airbnb (ABNB) lower on a downgrade. Airbnb is down 2% as Morgan Stanley analyst sees substantial risk to current consensus earnings estimates. In short, he thinks the business is maturing, and that growth slows from here. The analyst estimates the law of large numbers will eventually kick in and slow growth with a current supply is 6.2 million active listings, providing an estimated 1.1 billion room nights available for booking.