Diamonds and Dogs

1/24/23

Truck company, Paccar (PCAR) keeps trucking along. The maker of Kenworth and Peterbilt is jumping 7% on earnings. Paccar easily beat estimates as revenues rose 22.9% to $7.73 billion. The company is increasing its investment in next generation clean diesel and electric powertrain technologies, autonomous driving systems, connected vehicle services, advanced manufacturing and distribution.

3M (MMM) warns about the economy. The Post-it note maker is down 5% following disappointing earnings as revenues fell 5.9% to $8.1 billion. The company also provided downside guidance for the full year as they witness a weakening in consumer discretionary spending. 3M is laying off about 2,500 manufacturing employees in response to the weak operating environment.

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.