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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

10/26/15

Piedmont shareholders must be pinching themselves. Piedmont Natural Gas (PNY) is our diamond up 36% today to an all-time high thanks to a buyout offer from Duke Energy for $6.7 billion including debt. The buyout price equates to almost 29 times Piedmont's consensus earnings estimates for 2017. Only the highflying tech sector trades for such lofty levels, not a boring utility stock. Duke Energy must think there are some great synergies to make this deal palatable or else Duke's management team will have some explaining to do.

Whole Foods (WFM) is the dog of the day down -4.89% following a second recalling in the last month for products over listeria concerns. Listeria monocytogenes is an organism that can cause fatal health complications in kids or the elderly. Luckily, there have been no reported illnesses, but the company is recalling such products including its curry chicken salad and classic deli pasta salad, which are sold in East Coast stores. Hopefully, this will be a short term problem and a long term buying opportunity.

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.