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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

10/27/16

The drug stocks are back. Two diamonds, Celgene (CELG) and Bristol Myers (BMY) are both up 6% on better than expected earnings. Bristol has had a tough couple of months on disappointing drug trail results however the current quarterly earnings remain strong. Bristol reiterated guidance and added $3 billion to their share buyback plan. Celgene continues to click along with sales and earnings growing over 20%. Celgene looks to continue their momentum into next year raising their earnings and sales estimates to the high end of their range.

Allegiant Air (ALGT) was growned today. While most of the airline stocks are higher, Allegiant's stock is down 12% not far from its 52 week low following earnings. The company actually beat estimates, but the stock has not been acting well due to pricing pressure and increased competition for the regional airliner. Good news for consumers, but bad news for shareholders.

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.