Diamonds and Dogs
At least one airline is flying higher. United Continental (UAL) is jumping 8%, its best day in two years, after the former president of American Airlines, Scott Kirby decied to become president at rival, UAL. Raymond James upgraded the airline to "outperform" with a $65 price target, implying a 27% upside from here. Scott Kirby must be good at his job.
Hershey (HSY) wants to stay independent. Pennsylvania chocolate maker is down 10% after Mondelezs ended its campaign to acquire Hershey. Mondelez latest bid was valued at $25 billion or a little higher than where it closed yesterday. Had Hershey accepted the terms of Mondelez's offer, the merger would have resulted in the creation of the world's largest candy company.