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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

11/13/15

 With today's dog, your watch might actually become a fossil. Fossil Group (FOSL) fell over 33% following disappointing full year guidance. The company specializes in making and distributing fashion accessories such as watches, jewelry, handbags, and much more. The company actually beat 3Q estimates, but lowered their outlook for the year by nearly half. The company is blaming currency headwinds for the disappointing results. On the bright side though Fossil announced that it will be acquiring Misfit Inc. who is a leader and innovator for technology known for manufacturing fashionable connected accessories. The company also launched a new website during the quarter and a new product line called the Fossil Q. Let's hope the 2016 is better for Fossil and the whole retail sector.

Not many diamonds today, but Mylan (MYL) is up 13% after losing out on a hostile takeover of generic drug maker, Perrigo. Mylan took their offer right to the shareholders, but received less than 40% of the Perrigo shareholders to tender the offer. The good news for Mylan is not only do they not have to pay for this $26 billion deal, but they also confirmed they expect to make their earnings target of $6 per share while hinting that earnings could be higher than what analysts expect. Even with today's run up, Mylan is still down over 50% since the June highs so let's hope for Mylan shareholders there is more upside to year end and 2016.

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.