Q: Why DOL share price today took a hit when the announced results and forward outlooks are so positive?
5i Research Answer:
Stocks will often 'sell on news' even it is good news. DOL is seen as a defensive name and with the rest of the markets moving into 'party' mode investors may have sold it to move into other sectors. Earnings/outlook was solid (same store growth guidance 10%+) and the stock is (still) up 23% for the year, 16 points ahead of the TSX.