Diamonds and Dogs
You are going to get your presents by Christmas with today's diamond. FedEx (FDX) is delivering holiday cheer bucking the trend up 3% in a down market following better than expected earnings. FedEx easily beat estimates earning $2.58 a share on revenue that climbed 5% to $12.5 billion. The company is seeing a record number of holiday shipments fueled by the steady rise of e-commerce shopping. It hasn't been a good year for FedEx with the stock down 20% year to date, the company's profit improvement plan is trending ahead of schedule so the fundamentals are looking brighter for 2016.
Penny stocks that sky rocket in price sometimes come right back down. Kalobios Pharmaceuticals (KBIO) saw its shares go from pennies a share to 45.82 when infamous Turig Pharmaceutical CEO, Martin Shkreli started buying up the stock causing the shorts to cover their positions. Now it looks like Martin Shkreli is going to jail arrested today for deceiving investors in his former hedge fund MSMB Capital Management. He reportedly payed the returns of the hedge fund from returns of Retophin where he was a board member until being kicked off. Kalobios's shares were halted all day, but it's not looking good when it does reopen to shareholders.