Your Weekly Market Blip 2/22/19

Your Weekly Market Blip 2/22/19

Stocks ended the week on an up note. The Dow gained 181 to 26,031 on mixed trading volume. This is the first time the Dow has gone above the 26k mark since early November 2018. For the week the Dow gained a half a point or roughly 126 points.

The local community college just north of Seattle is launching a program to teach mechanics how to repair and maintain a Tesla. The program is brand new and will be offered as an alternative to the regular mechanics program that focuses of ICE of internal combustion engines.

A slew of earnings reports hit the wires with some good and some not so good. Kraft Heinz missed views, slashed its dividend and disclosed an SEC probe. The stock fell hard, and one wise guy said the time to buy is when there is ketchup in the streets. Stamps.com gave terrible 2019 guidance as it ends its U.S. Postal Service alliance plus faces competition from Amazon. Now that’s a rough day at the office!

Seattle based real estate company Zillow reported numbers complete with drama as company co-founder Rick “Black” Barton came out of retirement to resume the roll of CEO. Current CEO Spencer Raschoff will step down but remain on the board where he will be required to dress like Steve Balmer on Halloween. Zillow reported a 29% increase in revenues, but net income fell 95%. Forward guidance was good however and the gurus were excited about Rick being back. They jumped on the stock like hungry bulldogs on a meat wagon sending shares higher by over 20%.

I am heading out this weekend with the lunkheads for a snow camp in the Blewett Pass area. The weather is projected to be in the mid 20’s to low 30’s and snow is expected. Perfect! 15 hardy souls have signed up for the adventure. It should be fun.