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

6/28/16

Turnaround Tuesday. The first up day since the Brexit vote was good, not great. Biotechs were one of the better performing sectors up nearly 4% today. Gilead Science (GILD) is the diamond of the day up 5% after the FDA approved Gilead's latest hepatitis C pill, which the company priced significantly lower than its previous drugs. The drug, Epclusa, improves upon Gilead's previous drugs Sovaldi and Harvoni in that it treats all six major genotypes of the hepatitis C virus (HCV), both enlarging the market and eliminating the need for genotype testing. For most patients, the regime is one pill a day for 12 weeks, although patients with decompensated cirrhosis (i.e. very advanced liver disease) must take it with ribavirin, a standard generic HCV medicine.

ComScore (SCOR) did not score today. The only thing worse than the Brexit vote is an internal accounting audit problem. ComScore tumbled 18% making a new 52 week low after the company missed a self-imposed deadline to provide an update on its ongoing audit of certain accounting issues. The company delayed filing its annual report and quarterly report for the first quarter back in February giving the Audit Committee time to conduct a review of the problems. On May 11, comScore filed a form with the SEC stating that the investigation was nearly complete, and that it planned to provide an informed update by June 27. Today the company filed another report telling the SEC that the Audit Committee required more time to evaluate the collected information and draw final conclusions. Not good news.

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.