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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

4/8/16

Your portfolio has an ally today. Today's diamond, Alliance Fiber Optic (AFOP) is surging 19% after agreeing to merge with customer, Corning for a $305 million. This deal will add to Corning's Optical Communications sector by adding AFOP's ability to create optical components for cloud data-center operators. With today's rally, Alliance is back to levels not seen since October.

Gap is gapping lower. Retail heavy weight, Gap Inc. (GPS) is down 14% not far from their 52 week low following disappointing earnings. Gap saw sales fall to $1.43 billion from $1.53 billion a year ago while same store sales decline by 6% in March. Among its brands, Banana Republic saw the largest decline of 14% in same-stores sales compared to a 3% a year earlier. The Easter holiday left Gap with some rotten eggs.

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.