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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

7/12/16

The disk drives are back! Two weeks ago it was rival, Western Digital with better guidance. Now it's Seagate (STX) with better than expected earnings guidance. Seagate is jumping 22% to a 3 month high after raising quarterly guidance and also announcing a big cut to their workforce. Bad news for former employees, but good news for the stock and their 401Ks. Plenty of analyst upgrades with new price targets of $35, $33, $27, $27, and $26. Even with the pop in the stock price, the dividend yield is still over 8%.

 

Imperva (IMPV) doesn't have a secure future. The cyber security solutions company saw its stock drop 5% on heavy trading volume warning that 2016 second quarter results will likely fall short of analysts' expectations. The Redwood City, CA-based company now sees revenue between $57.5 million and $58 million vs. its previous guidance of $65.5 million to $66.5 million. Imperva also now forecasts a loss of 20 cents to 22 cents per share compared to its prior projection for a loss between 2 cents and 4 cents per share. Additionally, the company hired Qatalyst Partners to explore a possible sale. Sounds like a good idea.

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.