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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

1/23/17

Chinese New Year and Trump in the White House should be good for the casino operators. Wynn Resorts (WYNN) is up 2% in a down market thanks to positive January data out of Macau ahead of the Chinese New Year which begins on January 28th. The New Year should be good for all the casino operators in China, plus Steven Wynn gets bonus points for throwing out designer, Tom Ford's clothing, cosmetics and sunglasses from his Vegas casino after the designer declined to cloth the first lady.

 

Qualcomm (QCOM) is having a bad day. The chipmaker is down 14% to a six month low after Apple issued a lawsuit saying the company is allegedly withholding a billion dollars in rebates due to Apple for participation in South Korea's investigation and for overcharging royalties. The billion dollar lawsuit doesn't mean much to Apple with a $200 billion cash position, but the lawsuit could crimp earnings at Qualcomm by as much as 6% as one analyst at Cowen suggested.
 


 

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.