SAM - Dick's Sporting Goods Lifts Markets While Boston Beer Fizzles
The stock market has been on a strong run lately, and investors kept the momentum going on Wednesday morning. Even with companies starting to pay closer attention to the surge in COVID-19 cases from the delta variant, market participants are happy with the rebound they've seen in the economy. As of 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 65 points to 35,431. The S&P 500 (SNPINDEX: ^GSPC) picked up 5 points to 4,492, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) rose 2 points to 15,022.
Earnings results continued to provide some upward support for markets, and Dick's Sporting Goods (NYSE: DKS) was a big winner on that front Wednesday morning. Meanwhile, Boston Beer (NYSE: SAM) continued to move lower as more investors weighed in against the Sam Adams beer maker.
Shares of Dick's Sporting Goods were up 16% on Wednesday morning. The sporting goods retailer announced some impressive financial results and pointed to better times ahead while also rewarding shareholders with a big payout.
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Dick's Sporting Goods Lifts Markets While Boston Beer Fizzles