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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

2/12/16

Finding a diamond in the rough can be a gamble, unless you know where to look. Wynn Resorts (WYNN) is up 13% following better than expected earnings.  The earnings were actually down 20% year over year while sales declined 17%, but with the stock down over 50% in the last year, a lot of the bad news has been priced in. The more encouraging news is that CEO Steve Wynn initiated Macau's market has improved so far in 2016. Steve Wynn has a good reason to talk up his stock. He owns over 10% and bought an additional $90 million in the last two months. The company has a new $4 billion casino opening in Macau come June. Once that casino gets going, the fundamentals and stock may keep pushing higher.

How do you like your side of the bed, firm or soft? Select Comfort Corp (SCSS) is the designer, manufacturer, marketer and distributor of the Sleep Number beds. The company's shares dropped 23% following disappointing earnings. The company reported a loss of 42 cents per share, compared to estimates of 5 cents per share. Implementing a new Enterprise Resource Planning system reduced sales by about $84 million in the quarter. The company said transitioning from their 20-year-old legacy systems to a fully integrated Enterprise Resource Planning platform has been more challenging. With the stock trading at a two year low, let's hope the company can get things turned around.

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.