Diamonds and Dogs
Boring is beautiful again. Value stock, AT&T (T) is up 3% after rallying 2.5% on Friday thanks to insider buying and an upgrade. After dropping over 20% since December to a six year low, five directors stepped in on Friday and bought $4.1 million worth of stock. Bank of America upgraded the stock this morning. A 6% dividend doesn't hurt either.
FAANG taking a hit again. Maybe the shift out of tech into value stocks is finally happening. Facebook (FB) is down 4% today after dropping 20% last week following earnings. Netflix (NFLX) is down 4% today after dropping 22% last week following earnings. Not many tech stocks are being spared today as the Nasdaq drops over a percent.