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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

7/19/16

Netflix subscribers not so loyal after all. Netflix (NFLX) is down 13%, the worse day since October 2014, after missing estimates and lowering guidance. The company blamed weakness on higher-than-expected level of customer churn due to "un-grandfathering" of fees. The company is also blaming the pending Olympics and a slower ramp of international subs for the current quarterly weakness. The good news is the analysts believe long term Netflix should continue to grow subscribers especially overseas.

VMware (VMW) bucking the trend. VMware is surging by 9% to a new recent high thanks to better than expected earnings. The Palo Alto-based cloud and virtualization company posted adjusted earnings for the second quarter of 97 cents per share, up from analysts' estimates of 95 cents per share. Sales spiked 11% from 2015 to $1.69 billion, surpassing estimates. The CEO said the quarterly numbers were a continuation of the good start to the year. That's good news since the stock is still down 38% from the 2014 highs.

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.

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