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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

4/28/16

The more you use social media the more returns you'll see in your account with today's diamond. Facebook Inc. (FB) is surging 8% to a new all-time high following blow out earnings. The company easily beat earnings and sales estimates as total advertisers grew 50% year over year while monthly active users grew to 1.65 billion and monthly mobile active users grew to 1.5 billion. Plenty of upgrades with price targets as high as $166 a share. With a market cap of $344 billion, larger than GE and almost as large as Exxon, you must wonder about the valuation.

The sun is not shinning on the solar stocks. SunEdison recently filed for bankruptcy while today's dog, the largest US solar equipment manufacturer, Frist Solar (FSLR) dropped 7% following disappointing sales. Earnings easily beat estimates, but revenue missed coming in nearly $100 million below last year's sales.  First Solar blamed the quarter-to-quarter decline on delays affecting when it can book revenue on "multiple projects." There is a lot of room for accounting manipulation so while the company reaffirmed earnings estimates, shareholders aren't happy with the current prospects. The CEO is also stepping down at the end of June. Is this a signal of a short term top?

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.