Diamonds and Dogs
1/11/13Perrigo Co. (PRGO)
Perrigo is trading lower today, down 5.79% to $103.85. The generic pharmaceutical company saw its shares begin to dissolve after a downgrade. Goldman Sachs downgraded Perrigo from neutral to sell, citing the potential for slower growth during the next few quarters. Goldman also lowered its price target to $110; however the company traded significantly lower than Goldman's target. Perrigo is up over 13% over the past year, however has lost over 6% in the last three months. The company's shares remain well above their 52-week low of $90.18.
Best Buy Co Inc. (BBY)
Best Buy is the best buy in the S&P today, up 16.38% at $14.21. The electronics company saw its shares skyrocket after better than expect holiday sales. Best Buy had flat-same store sales for the holiday season, which was a huge surprise to analysts, many of whom felt sales would decline for the holiday season. Janney analyst, David Strasser said, "These results should put a long awaited floor on the stock and give potential buyers incremental confidence in the structural strengths." Best Buy bounced off of its 52-week low of $11.20.