Diamonds and Dogs


M&A heats up for healthcare. The leading prostate cancer treatment company, Medivation (MDVN) is the diamond today up 19% after agreeing to be bought for $81.50 a share, a deal valued at about $14 billion. Rival drugmaker, Sanofi was also interested in Medivation, but it looks like Pfizer's deal will win out. We should see more drug deals between now and year end.

Musical chairs continue at Viacom. The long-running saga between the Redstone family and Philippe Dauman officially ended on Saturday with the release confirming that Dauman would step down as Viacom (VIAB) CEO so that his long-running lieutenant could assume the role. Many investors applauded the move, but shareholders are selling the stock down 4% at the close. It didn't help that their movie division, MGM Paramount bombed over the weekend with the new release of Ben-Hur.

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.