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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

8/7/15

Boring is beautiful. Carpet maker, Mohawk Industries (MHK) jumped 6% to a new all-time high following better than expected earnings. Mohawk's stock is up over 30% this year verse wood floor rival, Lumber Liquidators (LL) which is down over 80% this year as homeowners have stopped buying their wood floors due to possible hazardous chemicals used in their product.

The Internet coupon provider, Groupon (GRPN) is the dog of the day down 5% to a new all-time low following in line earnings and lowered guidance. The stock is down 50% year to date as sales have slowed and profits have dried up. Hopefully, the company can turn things around.

8/6/15

Fitbit (FIT) fell off the treadmill today, dropping 13% to $44.64 a share even though earnings were much better than expected. A couple analysts upgraded the stock with 60 and 53 price targets, but after a 73% rally since coming public in June, investors were in the mood to book profits. Can't blame them.  Even with the pullback, Fitbit is still one of the big IPO winners for 2015.   

The 3D printing company (DDD) had a good day jumping 17% to $13.60 after disappointing earnings of 3 cents below the Street estimates of 8 cents a share. Sales arrived at $170.5 million versus $171.7 million estimates. Wall Street seemed relieved that earnings and sales weren't any worse than reported. A float that is 35% short is also lending support to the rebound.  The big question going forward is will their business rebound? If it does, the stock is attractively priced.

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.