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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

10/21/16

Reynolds American (RAI) is heating up. The tobacco giant is up 20% after British American Tobacco (BTI), which already owns 42.2% of Reynolds American (RAI), has made a proposal merger of the two companies. The transaction would create a broader, larger business, delivering more diversified sources of profit growth. The deal would be accretive to earnings in the first full year and accretive to the dividend.

Moody's (MCO) is feeling a little moody today. The credit rating agency reported better than expected earnings this morning, but the stock is lower on news the Justice Department was preparing a civil complaint alleging the company violated federal law leading up to the 2008 financial crisis. The DOJ sent a letter to the company late last month claiming that the ratings service improperly rated residential mortgage-backed securities and collateralized debt obligations in the period preceding the crisis. It took the DOJ eight years to figure this out? Really ?!!!!

 

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