Diamonds and Dogs


Macy's (M) is bucking the trend up 3% continuing its rally since mid-December. The stock got hammered last year down 42% from the summer highs due to weak year-end sales, but things are changing. In December Macy's announced a restructuring that investors liked. Today the stock is higher after private equity firm, Greenlight Capital confirmed buying a stake in the stock last quarter. One of the rumors is Greenlight might team up with a real estate investment trust to buy the retailer and put the assets in a trust. Macy's rejected the idea of becoming a REIT last year, but it could make more sense now that the stock has dropped so low. We'll see.

I hope you don't have nausea and/or vomiting caused by other drugs, because the solution looks to be delayed. Heron Therapeutics (HRTX) is trading sharply lower down 20% after the U.S. FDA informed the company that it has not yet completed its review of their new drug, SUSTOL® (granisetron). The drug is an injection used to act against acute and delayed chemotherapy-induced nausea and vomiting. The FDA plans on taking actions on the new drug by late February of this year. The company's shares have been on a roller coaster ride during the last 52 weeks. The stock rose nearly 4 fold the first 9 months of the year only to come back to earth since then. Let's hope the FDA can reward Heron next month.

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.