Diamonds and Dogs
Beauty and the Beast is coming. Disney (DIS) is up a percent to a new 52 week high following an upgrade this morning. The analyst said Disney's recent box office hits, the related consumer products surge, as well as a major theme park updates should breathe new life into Disney and start of a new expansion cycle. ESPN and their media networks continue to struggle, but the analyst said that's not enough to offset his renewed enthusiasm for the rest of the entertainment behemoth's other businesses. The analyst upgraded Disney stock from $118 to $128.
Valeant Pharmaceuticals (VRX) loses its biggest cheerleader. Valeant's stock is down 11% to a new 52 week low after their biggest bull, Bill Ackman of Pershing Square sold his 8% stake in Valeant. An analyst today said, the turnaround for Valeant may end up taking a lot more time and perhaps have more challenges than originally anticipated. Not a lot great news for Valeant.