Check the background of this firm on FINRA's BrokerCheck.

Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

Check the background of this firm on FINRA's BrokerCheck.

Diamonds and Dogs

5/2/16

Wynn on a win streak.  Wynn Resorts (WYNN) is jumping 7% following better than expected gambling revenue out of Macau, China for the month of April. The numbers were actually not great as the world's top casino gambling destination saw revenue drop 9.5% to $2.17 billion, topping some estimates. Bad news is still good news for the casinos as many of the stocks are off to a good start in 2016, but are stil  well off their highs over the previous years. Wynn Resorts in particular is up 35% year to date, but down over 60% since the 2014 highs.

 The gate has opened to the sea of red with today's dog. Seagate Technology (STX) is down another 5% to a new 52 week low after dropping 18% last week. The electronic data storage company is down 43% year to date following a preannouncement of dismal first quarter earnings last week. Toda, JP Morgan downgraded the company's shares to "underweight" from "neutral" with a price target of $15. JP Morgan also doesn't foresee Seagate maintaining their current dividend which yields 12%. RBC Capital Markets believes that Seagate will not be able to keep their dividend as well and lowered their target price from $36 to $24 a share.

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.