Diamonds and Dogs

6/11/21

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.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.