Diamonds and Dogs
An upgrade and buyback for Philip Morris (PM). The tobacco stock is up a percent as the company will buyback $7 billion worth of stock. The stock also received an upgrade at Piper Sandler with a $114 price target.
Biogen (BIIB) is down 3% even after an upgrade as three members of a key FDA advisory committee resigned this week in the wake of the approval. And a former member told Barron's that the decision "threatens the integrity of the review process." The committee determined last November that the company hadn't demonstrated the effectiveness of the therapy.
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