Diamonds and Dogs


Biotechs looks good. Celgene (CELG) is up 3% on an upgrade at Atlantic Equities while Alexion Pharma (ALXN) is up 6% as activist investor Elliott Management has built a stake and is pushing for changes at Alexion. Elliott Management has had good success in the past getting companies to turn around their stocks.

Fox (FOXA) taking a hit. 21st Century Fox (FOXA) fell 2% today as investors wait to see if Disney will make a play for them. A deal could be announced as soon as Monday, but one analyst suggested Disney could build its own new media asset which would give it greater control. The downside is building your own media company could cost "many billions" of dollars and span years.

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