Diamonds and Dogs


As everyone talks about Apple and the FBI, today's diamond is making a move. BlackBerry (BBRY) is spiking up over 5% after receiving approval to buyback more stock. In fact, the company is doubling the amount of shares they were looking to buy. The former number one cellphone maker has been expanding deeper into the services business as it continues to morph into a more software-focused entity amid its ongoing turnaround. Good news because the company is losing money in the cellphone business.


Valeant Pharmaceuticals (VRX) is the dog once again. Things have gone from bad to worse for Valeant. The stock is down 9% closing in on its 52 week low after delaying their quarterly earnings report and withdrawing their full year guidance. Today, Moody's put a bunch of Valeant's debt on review for a downgrade. Valeant has grown its long term debt to $31 billion through acquisitions to grow earnings. Now it looks like their business strategy is over if they lose their investment grade status.

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.