Diamonds and Dogs
The department store saw a bump in its stock price today, up 8% to $72. This rise came after hedge fund manager Jeff Smith named Macy's his best idea for 2015. Smith even went as far as saying that the stock could go up to as high as $125 per share, almost double what it is now. This has investors rushing to buy the stock, and leaves others wondering if the stock will continue to rise.
Magnum Hunter Resources (MHR)
Magnum Hunter Resources is down today by 7.1% to $1.51. This drop was caused by the fall of oil prices. WTI crude oil was down 0.92%, and Brent crude oil was down 0.94%. The oil and gas company's stock price has been getting beaten down lately, as its down almost 50% year-to-date. Alongside analyst downgrades, the uncertainty of oil prices has really taken a toll on Magnum Hunter Resources.