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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

10/5/15

General Electric (GE) shining bright. GE is leading the Dow higher today following news activist, Nelson Peltz and his Triad Fund invested $2.5 billion in the industrial conglomerate. The activist put together an 80 page report of what changes they'd like to see at GE to get the stock moving higher once again. Good news for shareholders, but maybe not for management.

The one sector still not participating in the recent rally is biotechs. Valeant Pharmaceuticals (VRX) is lower by 10% today after dropping 12% last week. The stock is lower today after Barron's over the weekend questioned their accounting and valuation. In the article Barron's stated Valeant trades for 16 times non GAAP earnings, but 65 times GAAP earnings. That's a big discrepancy and a good reason for investors to step back and let the dust settle.  

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.