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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

4/13/16

A good day for the banks. JPMorgan Chase (JPM) is leading the financials and the broader markets higher today on better than expected earnings. Earnings came in at $1.35 per share or 9 cents better than consensus of $1.26 a share. Revenue fell 3.7% year/year to $23.2 billion. Tangible book value rose to $48.96, up 8%. Average core loans were up 17% year over year and up 3% quarter over quarter. As the largest bank in America, JP Morgan might be showing a positive outlook for the rest of the big banks.

Did your dog take a selfie and put it on social media, if so I would look on today's dog's website. Facebook (FB), website where everyone is an open book, is one of the few stocks trading lower today on fears of slowing ad spending. The stock declined 2% after the company, AdParlor mentioned in a conference call they would cut Facebook advertising by 18% quarter-over-quarter. We'll see how significant this is in the coming weeks.

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.