Diamonds and Dogs
Paypal (PYPL) finding new friends. The digital payments company is up 4% to new highs following better than expected earnings. The company easily beat earnings expectations and raised sales guidance for the fourth quarter. Plenty of upgrades for Paypal this morning, but the price targets are not much higher than the current price as valuation is getting more expensive.
Celgene (CELG) taking a hit. The biotech giant is down 13% to a four month low as the company will discontinue a trial for one of their drugs to treat Crohn's disease. The drug could've been a blockbuster generating nearly $2 billion in sales. But luckily for Celgene they have one of the best drug pipelines in the industry.