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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

10/24/16

Merger Monday. Three big mergers this morning have the averages trading higher. AT&T (T) wants to buy TimeWarner (TWX) for $85 billion. Both stocks are lower. TD Ameritrade (AMTD) wants to buy privately held, Scottrade for $4 Billion. Ameritrade is up a percent. But the diamond of the day is BE Aerospace (BEAV) being acquired by Rockwell Collins (COL) for $8.3 Billion. BE Aerospace is up 15% to a 52 week high, but not an all-time high while Rockwell is down 5%. Boeing (BA) is jumping 2% to new recent highs on the news.

Boring isn't beautiful. Paper product maker and consumer staple, Kimberly Clark (KMB) is down 3% to a 52 week low after disappointing earnings on a sales miss. The company also narrowed 2016 earnings guidance and lowered full year organic sales. Low interest rates have been propping up blue chip income stocks like Kimberly-Clark and P&G, Telecom stocks and the Utilities. These three sectors outperformed the first half of the year, but have come under pressure since July 1st.

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.