Diamonds and Dogs


Array Biopharma Inc. (ARRY)

Array Biopharma is painting the tape green today, up 7.58% to $7.65. The small molecule biopharmaceutical company saw its shares jump after Friday's news that the company struck a deal with Novartis.  Array has an agreement to acquire a late-stage cancer drug from Swiss pharmaceutical giant Novartis that is in late-stage clinical trials for use as a skin cancer treatment. The Novartis drug, encorafenib, is being studied in tandem with one of Array's drugs which makes this a worth-while deal for both companies. Array saw a 40% jump on Friday and is continuing its rally today. Shares of Array climbed to a new 52-week high of $7.93 intraday.

Seagate Technology Public Limited Company (STX)

Seagate Technology is drowning today, down 6.71% to $59.69. The electronic data storage company saw its shares fall after missing on earnings. For the quarter, Seagate management announced net income of $933 million, or $2.78 per share, compared with $428 million, or $1.24 per share, in the same quarter a year ago. Earnings, adjusted for one-time gains and costs, came to $1.35 per share, missing analysts' estimates of $1.36 per share. CEO Stephen Luczo said the company expects revenue of at least $3.45 billion in the third quarter, which again will miss analysts' forecast of $3.59 billion, Shares of Seagate fell nearly $4.30 today, but are well above their 52-week low of $48.21.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.