Diamonds and Dogs
It was a good day to be a bull. Positive economic data and a positive mention on CNBC's Fast Money segment last night got the high flying tech stock, Mobileye going today. The Isreali based maker of autonomous vehicle control technology rallied 4.9% to close at $57.70 a share. News that Telsa may use Mobileye's technology in their latest Model S sedan out this fall has also lend support to this recent IPO.
Cliffs Natural Resources (CLF)
It hasn't been a good year for commodity stocks including Cliffs Natural Resources. The iron ore pellet producer was hit with a downgrade today falling 16.8% to $8.32 a share. The company is now losing money and the analyst today cited continued weakness as far out as 2017. The analyst slashed his price target to $5 from 18. Last week, Wells Fargo lowered its price target for Cliffs to a range of $4-7 from $7-10. Looks like the super cycle in commodities is over.
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