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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

7/14/16

Delta (DAL) flying higher again. Delta jumped 3% today after easily beating earnings estimates. Delta and the airlines are printing money right now, but the stocks have been on a roller coaster ride the last year. Even as earnings and cash continue to come in, the markets have been reluctant to reward shareholders. The good news is Delta is doing thier best for shareholders completing their $5 billion share repurchase authorization by next May over 6 months ahead of schedule. The company is also returning nearly $3.5 billion to shareholders this year consistent with goal of returning at least 70% of FC to dividends and share repurchase.

No win for Wynn. Wynn Resorts (WYNN) is down 3% on a day when few stocks are lower following a downgrade at JP Morgan. JP Morgan downgraded the stock from overweight to neutral lowering their price target from $101 to $94. After a number of disappointing years, Wynn was getting their mojo back up over 30% year to day. Investors keep waiting for business to improve over in China, watching the monthly casino numbers like hawks. Wynn will debut their new $4.1 billion casino in China come August 22nd so there is no better time for business to improve then now.

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.