Diamonds and Dogs
Micron (MU) is up 3% ahead of earnings this Thursday thanks to two upgrades. Wells Fargo upgraded Micron with a $40 price target. Cowen upgraded the stock with a $38 price target. Its seems pretty certain the company will beat earnings estimates and probably raises estimates. The question is how much of the good news has been priced in?
Seattle Genetics (SGEN) is getting hit down 11% back to the lows of the year on disappointing stage three drug trial results. The drug did met the main goal in a late-stage study of helping blood cancer patients live longer without their condition worsening, but unfortunately the results provided little difference from the current drugs on the market.