Diamonds and Dogs
Steel seems to be the new diamond for the day. United States Steel Corp (X) surged 8% on high volume today. The steel company based out of Pittsburgh, Pennsylvania was upgraded this morning. Bank of America/Merrill Lynch upgraded the US Steel's shares to neutral from underperform. The upgrade came after positive guidance from rival Nucor, the largest US steel maker. Steel stocks and commodities in general have performed well this year, surprising many including me. US Steel's stock has more than doubled this year, but would have to double once again to get back to its highs from two years ago.
Our dog is missing a piece today making it no longer Whole. The Austin, TX based company, Whole Foods Market (WFM) dropped 5% back toward its 52 week low. The grocery store chain's shares dropped after the FDA announced they found "serious violations" at the company's Massachusetts plant. The FDA found listeria and other severe food-safety violations during several inspections in February. Let's hope Whole Foods can clean up their mess.