Diamonds and Dogs
3/7/23
Dicks Sporting Goods (DKS) one of the few stocks trading higher today. Dicks is jumping 13% to new highs following better than expected earnings as revenues rose 7.3% to $3.6 billion. The retailer cited a sales boost from the gift-giving during the holidays even with inflation-weary consumers. Dicks is also seeing a shift in consumer behavior, prioritizing fitness even more than they did pre-pandemic. The company also hiked their dividend 100%.
Norfolk Southern (NSC) not having a good 2023 as a second train derails in Ohio, fatally injuring the conductor. Back on February 3rd, Norfolk freight train carrying hazardous materials derailed in East Palestine prompting a temporary evacuation of the area. Norfolk Southern announced this week a six-point plan to immediately enhance the safety of its operations.
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