Diamonds and Dogs
Strong upgrade for Occidental Petroleum (OXY). Occidental is up 2% today as the analyst at Stifel upgraded the stock with a $86 price target or 45% above current levels. Oil remains the best performing sector year to date, up 40%. The Utility sector is the only other sector in the green for the year, up just 6%. Occidental received a big boost last month when it was disclosed Warren Buffett and Berkshire Hathaway were aggressively buying the stock.
Investors feeling blue about JetBlue (JBLU). Investors are hitting the sell button after JetBlue announced a $3.6 billion counter offer to buy Spirit Airlines away from Frontier. One analyst downgraded the stock saying there are limited synergies, higher labor costs and high oil prices. Many investors don't think the government would approve such a merger anyways.
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