Diamonds and Dogs
JB Hunt (JBHT) keeps chugging along. The trucking company bucked the trend, rising 4% even though the company missed estimates as sales rose just 4.4% to $3.65 billion. Supply chain issues at the ports and a shortage of drivers continues to dog the firm. JB Hunt was in the giving mood paying out nearly $9 million in bonuses to thank and retain their drivers. That's like Wall Street bonuses.
Microsoft (MSFT) fell 2% as they lay off 10,000 workers to start the New Year. The 10,000 employees are less than 5% of their headcount, but account for a $1.2 billion charge. The software maker is bracing for slower revenue growth as are many other tech firms including 18,000 at Amazon. The tech industry has now laid off more than 60,000 employees in the last year.
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