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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

2/22/2013

Abercrombie & Fitch Co. (ANF)

Abercrombie & Fitch is being torn up like their jeans today, down 4.53% at $46.83. The apparel company saw its shares crash after the company released a poor quarterly forecast. Abercrombie management said that it was expecting a loss for the first quarter this year. The company said it was expecting a "slight loss" due to a tough economy and difficulty tied to its cold-weather inventory. Furthermore, Abercrombie said it does not expect much growth for the full year and would expect numbers to be close to last year. The company is still holding up in the top quarter of its 52-week range of $28.62-$54.10.

Hewlett-Packard Company (HPQ)

Hewlett-Packard is rallying today, up 12.34% at $19.21. The computer company saw its shares make their largest daily gain since 2008 after better than expected earnings. After such a terrible 2012, expectations for HP were very low, allowing the company to easily beat analyst expectations for earnings. The company announced revenue of $28.4 billion with an EPS of $0.82, beating Wall Street's forecast for revenue of $27.8 billion with an EPS of $0.71. The beat on estimates made UBS upgrade the company from sell to neutral, and raise its price target from $12 to $19. HP is trading in the middle of its 52-week range of $11.35-$27.09.
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.