Value stocks are back in play. Bristol Myers (BMY) is up 3% to a six month high on an upgrade. Bank of America upgraded the stock with a $61 price target. The analyst is upgrading the stock due to low valuation and a better pipeline going forward to boost profits.

Costco (COST) going the wrong way. The discount retailer is down 3% on a downgrade at Roth Capital Partners to a sell warning that the recent earnings beat masked deteriorating fundamentals and heightened competition. The company also opted not to announce a special dividend further disappointing investors, giving them reason for pause.

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