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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

2/23/17

Blue chip techs continue to shine. Hewlett Packard (HPQ) is jumping 8% to a new 52 week high following better than expected earnings. The company beat earnings estimates while sales rose 3.6% to $12.68 billion ahead of estimates of $11.83 billion. The company continues to report strong free cash flow while also benefitting from innovative products while printer supplies business is showing signs of stabilization. HP received two upgrades this morning, but the price targets are only $19 a share.

The power of two downgrades.  Highflier chipmaker, Nvidia (NVDA) is down 10% or $11 retesting the December and January lows on two downgrades. Analyst Romit Shah at Instinet downgraded Nvidia to reduce from buy. Shah also slashed his stock price target to $90, which is 11% below current levels, after raising it to $100 from $80 just two weeks ago. BMO Capital analyst Ambrish Srivastava dropped his rating to underperform from market perform. He cut his stock price target to $85, or 16% below current levels, after raising it to $100 from $75 less than three weeks ago.

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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