Diamonds and Dogs
Energy looks good. One of the few sectors to trade higher last month, Canadian oil sands company, Suncor Energy (SU) is jumping 4% to a two month high thanks to an upgrade with a $41 price target. Suncor has been outperforming the rest of the energy sector up 12% in the last year while the energy sector in general was negative last year and negative this year, Suncor has boosting its performance with strong cash flow and shareholder buybacks.
Is Micron (MU) cyclical or not? The DRAM maker is down 7% on a downgrade to a sell at UBS as that analyst says the company is still cyclical and they expect big earnings estimate cuts going forward. Micron currently trades for just 5 times earnings so investors may be expecting earnings cuts. Otherwise the company should come in with a share buyback and or initiate a dividend. Time will tell.
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.