Diamonds and Dogs
Bluebirds are smiling today. Biotech, Bluebird Bio (BLUE) is up 16% to new highs thanks to positive drug trials for patients with advanced forms of the deadly blood cancer known as multiple myeloma. Bluebird Bio combined with Celgene presented that a 94% or 17 of 18 patients in their study exhibited objective response to the experimental cell-base therapy. Goldman Sachs upgraded Bluebird Bio with a $310 price target. Celgene is up 2%.
Fed Ex (FDX) can't win during the holiday season. The shipping giant is down a percent during their busiest season of the year. Between Thanksgiving and Christmas, UPS, FedEx, and United States Postal Service will deliver 2 billion packages, 70% from the levels in 2010. Fed Ex and UPS typically see their margins decrease this time of year, not increase due to hiring more season workers and paying overtime to the full time drivers. And guess who gets blamed when a package isn't delivered.